What’s a Cricketer’s Worth? Predicting Bid Prices for Indian Premier League Auctions

Siddhartha Rastogi

Economics and Applied Informatics, 2017, issue 1, 127-133

Abstract: Indian Premier League is a twenty-over format cricket tournament of teams representing different Indian cities. Beginning 2008, it is established now as a grand annual affair. The team franchises are auctioned on long term basis, whereas cricketers are auctioned every season under certain conditions. Despite such wealth of information, studies on IPL auctions are rare barring four cited models. The present paper studies the results of year 2011 English-style auction of cricketers and recalibrates the old yet most accurate model by Rastogi and Deodhar (2009). Both models use ordinary least square method of regression albeit with different variable. The old models lack predictive power, whereas the recalibrated model presented displays better predictive capability as compared to earlier models. It also succeeds in reducing overall predictability gap and stands significantly parsimonious vis-Ã -vis previous models. Further, the final model presented is applied on 2013 and 2014 auction data to show superior results.

Keywords: Indian Premier League (IPL); Twenty-20 Cricket; Auction; Player pricing; Hedonic pricing (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fseeai:y:2017:i:1:p:127-133

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