This study investigates differences in the preferences of daily ticket purchasers and season ticket holders, focusing on outcome uncertainty. Using unique game-level attendance data of both daily ticket purchasers and season ticket holders for every team in the Korean top-tier professional soccer league, we find heterogeneity in demand between daily ticket purchasers and season ticket holders with respect to outcome uncertainty, preference for home team success, team performance, geographical distance between competing teams, and weekend games. Our results suggest that season ticket holders do not care as much about their team's performance and outcome uncertainty as daily ticket purchasers do.
AllanG.RoyG. (2008). Does television crowd out spectators? New evidence from the Scottish Premier League. Journal of Sports Economics, 9(6), 592–605. https://doi.org/10.1177/1527002508321458
2.
AmbergerC.ScholzP.SchreyerD. (2021). Season ticket holder no-show behavior in the Czech Republic. SSRN Electronic Journal, 3928596. https://doi.org/10.2139/ssrn.3928596
3.
BeckmanE. M.CaiW.EsrockR. M.LemkeR. J. (2011). Explaining game-to-game ticket sales for Major league baseball games over time. Journal of Sports Economics, 13(5), 536–553. https://doi.org/10.1177/1527002511410980
4.
BenzM. A.BrandesL.FranckE. (2009). Do soccer associations really spend on a good thing? Empirical evidence on heterogeneity in the consumer response to match uncertainty of outcome. Contemporary Economic Policy, 27(2), 216–235. https://doi.org/10.1111/j.1465-7287.2008.00127.x
5.
BestersL.van OursJ. C.van TuijlM. A. (2019). How outcome uncertainty, loss aversion and team quality affect stadium attendance. Journal of Economic Psychology, 2019(72), 117–127. https://doi.org/10.1016/j.joep.2019.03.002
6.
BondA. J.AddesaF. (2020). Competitive intensity, fans’ expectations, and match-day tickets sold in the Italian Football Serie A, 2012-2015. Journal of Sports Economics, 21(1), 20–43. https://doi.org/10.1177/1527002519864617
BristowD. N.SebastianR. J. (2001). Holy cow! Wait’til next year! A closer look at the brand loyalty of Chicago cubs baseball fans. Journal of Consumer Marketing, 18(3), 256–275. https://doi.org/10.1108/07363760110392976
9.
BuraimoB.SimmonsR. (2008). Do sports fans really value uncertainty of outcome? Evidence from the English Premier League. International Journal of Sport Finance, 3(3), 146–155.
10.
CoatesD.HumphreysB. R. (2010). Week to week attendance and competitive balance in the National Football League. International Journal of Sport Finance, 5(4), 239–252.
11.
CoatesD.HumphreysB. R.ZhouL. (2014). Reference-dependent preferences, loss aversion, and live game attendance. Economic Inquiry, 52(3), 959–973. https://doi.org/10.1111/ecin.12061
12.
CoxA. (2018). Spectator demand, uncertainty of results, and public interest: Evidence from the English premier league. Journal of Sports Economics, 19(1), 3–30. https://doi.org/10.1177/1527002515619655
13.
CzarnitzkiD.StadtmannG. (2002). Uncertainty of outcome versus reputation: Empirical evidence for the first German football division. Empirical Economics, 27(1), 101–112. https://doi.org/10.1007/s181-002-8361-7
14.
DeSchriverT. D. (2007). Much adieu about Freddy: Freddy Adu and attendance in major league soccer. Journal of Sport Management, 21(3), 438–451. https://doi.org/10.1123/jsm.21.3.438
15.
DeSchriverT. D.RascherD. A.ShapiroS. L. (2016). If we build it, will they come? Examining the effect of expansion teams and soccer-specific stadiums on major league soccer attendance. Sport, Business and Management: An International Journal, 6(2), 205–227. https://doi.org/10.1108/SBM-05-2014-0025
16.
Di DomizioM.CarusoR. (2015). Hooliganism and demand for football in Italy: Attendance and counterviolence policy evaluation. German Economic Review, 16(2), 123–137. https://doi.org/10.1111/geer.12051
17.
DobsonS. M.GoddardJ. A. (2011). The economics of football (2nd ed.). Cambridge University Press.
18.
FoellmiR.JaeggiA.Rosenblatt-WischR. (2019). Loss aversion at the aggregate level across countries and its relation to economic fundamentals. Journal of Macroeconomics, 61, Article 103136. https://doi.org/10.1016/j.jmacro.2019.103136
19.
ForrestD.SimmonsR. (2002). Outcome uncertainty and attendance demand in sport: The case of English soccer. Journal of the Royal Statistical Society. Series D (The Statistician), 51(2), 229–241. https://doi.org/10.1111/1467-9884.00314
20.
ForrestD.SimmonsR. (2006). New issues in attendance demand: The case of the English football league. Journal of Sports Economics, 7(3), 247–266. https://doi.org/10.1177/1527002504273392
FortR. (2017). Pro sports league antitrust ‘beliefs’: Applied theory and the rule of reason. Managerial and Decision Economics, 38(5), 655–663. https://doi.org/10.1002/mde.2791
23.
FunkD. C.AlexandrisK.McDonaldH. (2016). Sport consumer behaviour: Marketing strategies. Routledge.
24.
FunkD. C.JamesJ. D. (2006). Consumer loyalty: The meaning of attachment in the development of sport team allegiance. Journal of Sport Management, 20(2), 189–217. https://doi.org/10.1123/jsm.20.2.189
25.
GächterS.JohnsonE. J.HerrmannA. (2007). Individual-level loss aversion in riskless and risky choices. IZA Discussion Paper No. 2961, Available at SSRN:https://ssrn.com/abstract = 1010597.
26.
HjorthK.FosgerauM. (2011). Loss aversion and individual characteristics. Environmental and Resource Economics, 49(4), 573–596. https://doi.org/10.1007/s10640-010-9455-5
27.
HumphreysB. R.JohnsonC. (2020). The effect of superstars on game attendance: Evidence from the NBA. Journal of Sports Economics, 21(2), 152–175. https://doi.org/10.1177/1527002519885441
28.
HumphreysB. R.MiceliT. J. (2020). Outcome uncertainty, fan travel, and aggregate attendance. Economic Inquiry, 58(1), 462–473. https://doi.org/10.1111/ecin.12844
29.
HumphreysB. R.ZhouL. (2015). The Louis–Schmelling paradox and the league standing effect reconsidered. Journal of Sports Economics, 16(8), 835–852. https://doi.org/10.1177/1527002515587260
30.
JewellR. T. (2017). The effect of marquee players on sports demand: The case of US Major league soccer. Journal of Sports Economics, 18(3), 239–252. https://doi.org/10.1177/1527002514567922
31.
JewellR. T.MolinaD. J. (2005). An evaluation of the relationship between Hispanics and Major league soccer. Journal of Sports Economics, 6(2), 160–177. https://doi.org/10.1177/1527002504263400
32.
KargA.NguyenJ.McDonaldH. (2021). Understanding season ticket holder attendance decisions. Journal of Sport Management, 35(3), 239–253. https://doi.org/10.1123/jsm.2020-0284
33.
KnowlesG.SheronyK.HaupertM. (1992). The demand for Major league baseball: A test of the uncertainty of outcome hypothesis. The American Economist, 36(2), 72–80. https://doi.org/10.1177/056943459203600210
KuypersT. (2000). Information and efficiency: An empirical study of a fixed odds betting market. Applied Economics, 32(11), 1353–1363. https://doi.org/10.1080/00036840050151449
36.
LawsonR. A.SheehanK.StephensonE. F. (2008). Vend it like Beckham: David Beckham's effect on MLS ticket sales. International Journal of Sport Finance, 3(4), 189–195.
37.
LemkeR. J.LeonardM.TlhokwaneK. (2010). Estimating attendance at major league baseball games for the 2007 season. Journal of Sports Economics, 11(3), 316–348. https://doi.org/10.1177/1527002509337212
38.
MartinsA. M.CróS. (2018). The demand for football in Portugal: New insights on outcome uncertainty. Journal of Sports Economics, 19(4), 473–497. https://doi.org/10.1177/1527002516661602
39.
McDonaldH. (2010). The factors influencing churn rates among season ticket holders: An empirical analysis. Journal of Sport Management, 24(6), 676–701. https://doi.org/10.1123/jsm.24.6.676
40.
MillsB. M.SalagaS.TainskyS. (2016). NBA Primary ticket market consumers: Ex ante expectations and consumer market origination. Journal of Sport Management, 30(5), 538–552. https://doi.org/10.1123/jsm.2015-0230
41.
PanD. W.GabertT. E.McGaughE. C.BranvoldS. E. (1997). Factors and differential demographic effects on purchases of season tickets for intercollegiate basketball games. Journal of Sport Behavior, 20(4), 447–464.
42.
PawlowskiT.AndersC. (2012). Stadium attendance in German professional football—the (un) importance of uncertainty of outcome reconsidered. Applied Economics Letters, 19(16), 1553–1556. https://doi.org/10.1080/13504851.2011.639725
43.
PeelD. A.ThomasD. A. (1992). The demand for football: Some evidence on outcome uncertainty. Empirical Economics, 17, 323–331. https://doi.org/10.1007/BF01206291
44.
RascherD. A.SolmesJ. P. G. (2007). Do fans want close contests? A test of the uncertainty of outcome hypothesis in the national basketball association. International Journal of Sport Finance, 2(3), 130.
45.
RottenbergS. (1956). The baseball players’ labor market. The Journal of Political Economy, 64(3), 242–258. https://doi.org/10.1086/257790
46.
SchreyerD.AnsariP. (2021). Stadium attendance demand research: A scoping review. Journal of Sports Economics, 23(6), 749–788. https://doi.org/10.1177/15270025211000404
47.
SchreyerD.SchmidtS.TorglerB. (2016). Against all odds? Exploring the role of game outcome uncertainty in season ticket holders’ stadium attendance demand. Journal of Economic Psychology, 56, 192–217. https://doi.org/10.1016/j.joep.2016.07.006
48.
SchreyerD.SchmidtS. L.TorglerB. (2018). Game outcome uncertainty in the English premier league. Journal of Sports Economics, 19(5), 625–644. https://doi.org/10.1177/1527002516673406
49.
SchreyerD.TorglerB. (2021). Predicting season ticket holder no-show behaviour: More nuanced evidence from Switzerland. Applied Economics, 53(48), 5549–5566. https://doi.org/10.1080/00036846.2021.1925081
50.
SerranoR.García-BernalJ.Fernández-OlmosM.Espitia-EscuerM. A. (2015). Expected quality in European football attendance: Market value and uncertainty reconsidered. Applied Economics Letters, 22(13), 1051–1054. https://doi.org/10.1080/13504851.2014.997919
51.
SungH.MillsB. M. (2018). Estimation of game-level attendance in major league soccer: Outcome uncertainty and absolute quality considerations. Sport Management Review, 21(5), 519–532. https://doi.org/10.1016/j.smr.2017.12.002
52.
SzymanskiS. (2003). The economic design of sporting contests. Journal of Economic Literature, 41(4), 1137–1187. https://doi.org/10.1257/jel.41.4.1137
53.
TappA.ClowesJ. (2002). From “carefree casuals” to “professional wanderers”. European Journal of Marketing, 36(11/12), 1248–1269. https://doi.org/10.1108/03090560210445164
54.
VillarJ. G.GuerreroP. R. (2009). Sports attendance: A survey of the literature 1973–2007. Rivista di Diritto Ed Economia Dello Sport, 5(2), 112–151.
