Browsing by Subject "price elasticity"

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    Ticket Pricing Per Team: The Case of Major League Baseball (MLB)
    (2013-09) Park, Kwang Woo (Ken); Lee, Soonhwan; Miller, Phillip
    In this paper, we explore the determinants of demand for attendance at Major League Baseball (MLB) games for 23 individual MLB teams during the period 1970 to 2003. Our central focus is to explore team-specific price elasticities of demand for attendance. We use Error Correction Models (ECM) to identify these elasticities. The empirical findings show that factors of demand differ between teams with respect to the factors that determine attendance and to the estimated weights. We find that demand for attendance is mostly inelastic with levels varying between teams.