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Working Papers


Contingent Employment and Effort: Lessons from Soccer

Published in , 2025

Temporary workers, often employed in contingent labor arrangements, frequently experience significantly fewer benefits compared to their permanently employed counterparts. Due to the inherent precariousness of their employment status, temporary workers may have incentives to enhance their performance in an effort to secure permanent positions. Similarly, loan arrangements in professional football represent a distinct form of “on-the-job training,” where players have opportunities to recommend themselves to new clubs, gain increased playing time, develop physically, tactically, and technically, and improve their prospects for securing a new contract or a more favorable position upon returning to their parent club. We substantiate these hypotheses using a theoretical model that predicts relatively higher performance incentives for loaned players. To test the predictions of our model, we analyze a range of performance metrics from seven Bundesliga seasons. Our findings provide initial evidence that loan players exhibit significant improvements in prominent performance metrics, such as shots on target, while showing relatively lower output in less visible actions, such as passes and touches. These results suggest that loaned players may prioritize more conspicuous actions to demonstrate their abilities and recommend themselves for future opportunities

The Relocation Effect of a Major League Franchise on Residential Property Values

Published in , 2024

We exploit the relocation of the NFL’s Rams franchise as a natural experiment to estimate the effect of residential proximity to sports amenities using difference-in-differences hedonics. For a sample of single-family homes transacted in St. Louis between 2012 and 2019, we reveal that the relocation has provoked a significant relative price depreciation of 7.52% in housing values within a three-mile impact area. Subsequent distance ring analyses show that the effect is dispersed heterogeneously across space and declines in a non-linear distance-decaying pattern from the former host stadium. An approximation of the aggregate relative housing value depreciation suggests that the Rams generated substantial intangible amenity value in St. Louis. However, this magnitude effect may only justify partial subsidies for sports facilities and cannot provide a broader economic rationale for the generous public subsidization seen over the past decades. These results withstand a wide range of robustness checks, although they are somewhat mitigated considering general equilibrium effects

Recommended citation: Froch, Jonas. (2024); "The Relocation Effect of a Major League Franchise on Residential Property Values"; Working Paper; University of Cologne
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