No abstract

We investigate the differences between Beckett book values and eBay auction prices using an original data set of 876 auctions for 30 baseball cards from the 1960s era. We find that cards of lower quality generally sell (on eBay) above book price, whereas cards of higher quality generally sell below book price. We find that both the presence of buyer insurance and the number of bids increase eBay prices relative to book values and that the seller's reputation and the number of bids increase the probability that the eBay price will be greater than the corresponding book value.

An original data set built from all 32 National Football League (NFL) teams, covering 2000-2009, is used to produce a production function for professional football. We use spending on salaries, divided between offensive and defensive players, as inputs to produce season wins. Our data suggest that the optimal strategy is simply to have a strategy, meaning teams with balanced spending tend to do worse than those with a more strategic allocation towards either offence or defence.