Racers f attractive looks, popularity, and performance: How do speedboat racers react to fans f expectations?
Ryohei Hayashi (),
Yoshiro Tsutsui and
Fumio Ohtake ()
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Ryohei Hayashi: Department of Political-Economics, Tokai University
Fumio Ohtake: Department of Economics, Osaka University
No 18-28, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics
Using a large sample of individual-level records in Japan speedboat racing where men and women racers participate, we investigated how racers f performance meets fans f pre-race expectations. To control for endogeneity bias, we measured the order of racers f attractiveness randomly determined in each race and then used this order as instrument for measuring racers f popularity. The fixed effects IV estimations revealed the following. (1) Racers who are more attractive than their competitors tend to be more popular even after controlling for the condition of the race, racer ability, and other characteristics. (2) More popular men show better performance in the race even if the reward does not vary according to popularity; such tendency is not observed for women. This study contributes a novel setting for determining the expectation enhancing effects of physical attractiveness.
Keywords: Beauty; Race betting odds; Popularity; Performance; Gender difference; Tournaments (search for similar items in EconPapers)
JEL-codes: J16 L83 M52 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:osk:wpaper:1828
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