Abstract
Although most labor and microeconomic textbooks contain a theoretical discussion of the backward-bending labor supply curve, scant empirical evidence of this phenomenon exists. In this paper we investigate the behavior of PGA golf professionals as they make laborleisure choices for performing on the PGA Tour. Using tournament theory to model this labor market and data from tournament performances over three separate years, we find significant evidence that higher paid PGA Tour players do indeed operate in the backward-bending region of their labor supply curves.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 33-45 |
| Number of pages | 13 |
| Journal | Managerial Finance |
| Volume | 26 |
| Issue number | 7 |
| DOIs | |
| State | Published - 2000 |
| Externally published | Yes |
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Keywords
- Economic theory
- Financial incentives
- Labour
- Sport
- Supply
ASJC Scopus subject areas
- Finance
- Strategy and Management
Cite this
Professional golf : Labor or leisure. / Gilley, Otis W.; Chopin, Marc C.
In: Managerial Finance, Vol. 26, No. 7, 2000, p. 33-45.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Professional golf
T2 - Labor or leisure
AU - Gilley, Otis W.
AU - Chopin, Marc C
PY - 2000
Y1 - 2000
N2 - Although most labor and microeconomic textbooks contain a theoretical discussion of the backward-bending labor supply curve, scant empirical evidence of this phenomenon exists. In this paper we investigate the behavior of PGA golf professionals as they make laborleisure choices for performing on the PGA Tour. Using tournament theory to model this labor market and data from tournament performances over three separate years, we find significant evidence that higher paid PGA Tour players do indeed operate in the backward-bending region of their labor supply curves.
AB - Although most labor and microeconomic textbooks contain a theoretical discussion of the backward-bending labor supply curve, scant empirical evidence of this phenomenon exists. In this paper we investigate the behavior of PGA golf professionals as they make laborleisure choices for performing on the PGA Tour. Using tournament theory to model this labor market and data from tournament performances over three separate years, we find significant evidence that higher paid PGA Tour players do indeed operate in the backward-bending region of their labor supply curves.
KW - Economic theory
KW - Financial incentives
KW - Labour
KW - Sport
KW - Supply
UR - http://www.scopus.com/inward/record.url?scp=84990315592&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84990315592&partnerID=8YFLogxK
U2 - 10.1108/03074350010766774
DO - 10.1108/03074350010766774
M3 - Article
VL - 26
SP - 33
EP - 45
JO - Managerial Finance
JF - Managerial Finance
SN - 0307-4358
IS - 7
ER -