Professional golf: Labor or leisure

Otis W. Gilley, Marc C Chopin

Research output: Contribution to journalArticle

4 Scopus citations

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 languageEnglish (US)
Pages (from-to)33-45
Number of pages13
JournalManagerial Finance
Volume26
Issue number7
DOIs
StatePublished - 2000
Externally publishedYes

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Keywords

  • Economic theory
  • Financial incentives
  • Labour
  • Sport
  • Supply

ASJC Scopus subject areas

  • Finance
  • Strategy and Management

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