1. Heterogeneous consumer preferences for product quality and uncertainty
- Author:
- Wolfgang Maennig and Steffen Mueller
- Publication Date:
- 12-2021
- Content Type:
- Working Paper
- Institution:
- Chair for Economic Policy, University of Hamburg
- Abstract:
- We provide evidence for heterogeneous consumer preferences for product quality and game outcome uncertainty (GOU) in Major League Baseball. Using attendance data from 2013 to 2019, we explore func-tional data clustering techniques to detect common patterns in predictive margins of team-specific win-ning probability. As a central result, we identify five groups of teams with similar GOU effects. However, only a few teams’ fans show GOU preferences that resemble the typical hump-shape that is postulated by the uncertainty of outcome hypothesis; the largest cluster is comprised of teams with fans whose at-tendance behavior is relatively insensitive to differences in GOU.
- Topic:
- Economics, Data, Consumer Behavior, and Uncertainty
- Political Geography:
- Global Focus