In European club football, decision makers often rely on recent match outcomes when evaluating team performance, even though short-term results are heavily influenced by randomness. This can lead to systematic misjudgments. In this article, we propose a complementary approach for performance evaluation. We build upon the concept of expected goals based on quantified scoring chances and develop a chart that visualizes situations in which a team’s true performance likely deviates from the performance indicated by match outcomes. This should prevent clubs from making flawed decisions when match outcomes are misleading due to the influence of random forces.

The house money effect predicts that individuals show increased risk-seeking behavior in the presence of prior gains. Although the effect's existence is widely accepted, experimental studies that compare individuals' risk-taking behavior using house money to individuals' risktaking behavior using their own money produce contradictory results. This experimental study analyzes the gambling behavior of 917 casino customers who face real losses. We find that customers who received free play at the entrance showed not higher but significantly lower levels of risk-taking behavior during their casino visit, expressed through lower average wagers. This study thus provides field evidence that rejects the existence of a house money effect. Moreover, as a result of lower levels of risk seeking, endowed customers yield better economic results in the form of smaller own-money losses when leaving the casino.

This paper empirically examines how suspense and surprise explain demand for entertainment. We use the Wimbledon Championships tennis tournament as a natural laboratory.This setting allows us to both operationalize suspense and surprise using the audience's belief about the final outcome of the match and observe of the demand for live entertainment using JEL Classification: D83, L82, L83

This paper empirically examines how suspense and surprise explain demand for entertainment. We use the Wimbledon Championships tennis tournament as a natural laboratory.This setting allows us to both operationalize suspense and surprise using the audience's belief about the final outcome of the match and observe of the demand for live entertainment using JEL Classification: D83, L82, L83