Ajit Karnik

There have been two major auctions of the Indian Premier League (IPL) of cricket. Since 2008, three IPL tournaments have also taken place. We first estimate hedonic price equations for the auction of 2011. We find that runs scored in the shorter formats of the game, wickets taken in Test cricket, age of the player, and nationality of the player are important determinants. We investigate whether our equations suffer from a sample selection bias employing Heckman selection methods. Hedonic price equations for the auction of 2008 are also estimated using the specification used for the 2011...Read more

Bill Gerrard
Milena M. Parent
Trevor Slack

This study adopts a multi-attribute hedonic-pricing benchmark valuation approach to the determination of the observed market value of stadium naming rights. Using a sample of 112 naming rights deals covering both major-league and non-major-league facilities in North America over the period of 1979-2002, a hedonic-pricing model is estimated using regression analysis. It is found that the value of stadium naming rights is highly systematic and information-efficient. Naming rights value is principally related to variables reflecting the size of potential target audiences including the...Read more