Publications

Working Papers


Contingent Employment and Effort: Lessons from Soccer

Published in , 2025

The contingency of an employment arrangement may incentivize agents to elicit structural behavioral responses driven by career concerns. We develop a dynamic multitasking model predicting that contingent employment strengthens incentives to exert effort, especially in highly visible tasks. Using loan transfers in professional soccer as a proxy, we test this effort-visibility hypothesis via an entropy balancing approach. We find support for our hypothesis in that loan players increase their effort in conspicuous actions, such as shots on target and duels, while reducing effort in more subtle actions, such as passes and ball retention. While we find no significant impact on team performance, the observed behavioral pattern may carry broader implications in the field.

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. (2025). ; "The Relocation Effect of a Major League Franchise on Residential Property Values"; Working Paper; University of Cologne
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