This article investigates whether the removal of the reserve clause in professional baseball affected the concentration of player talent in the industry. After free agency, a few wealthy teams could purchase the best players over time, leading to a high concentration of productive players and...

This article reexamines the demand for baseball and provides estimates of fan loyalty for U.S.-based professional baseball teams using techniques developed in the stochastic frontier literature. Fans choose to attend games based on price-quality combinations and some intangible fan loyalty. The...

This paper provides an empirical analysis of the relationships between three popular lottery games in the state of Texas: Lotto Texas, Texas Two Step, and the multi-state Mega Millions game. The analysis suggests complementarity between the Lotto Texas and Mega Millions; habitual players tend to...

Purpose – This paper aims to examine the anatomy of a real estate bubble. In the process, the paper identifies three phases of the market's evolution: flips, flops and foreclosures. An examination of the Las Vegas real estate market illustrates the three phases. Design/methodology/approach –...