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Professional golf: labor or leisure

Professional golf: labor or leisure Although most labor and microeconomic textbooks contain a theoretical discussion of the backward‐bending labor supply curve, scant empirical evidence of this phenomenon exists. In this paper we investigate the behavior of PGA golf professionals as they make labor‐leisure choices for performing on the PGA Tour. Using tournament theory to model this labor market and data from tournament performances over three seperate years, we find significant evidence that higher paid PGA Tour players do indeed operate in the backward‐bending region of their labor supply curves. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Finance Emerald Publishing

Professional golf: labor or leisure

Otis W. Gilley; Marc C. Chopin
Managerial Finance , Volume 26 (7): 13 – Jul 1, 2000
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Publisher
Emerald Publishing
Copyright
Copyright © 2000 MCB UP Ltd. All rights reserved.
ISSN
0307-4358
DOI
10.1108/03074350010766774
Publisher site
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Abstract

Although most labor and microeconomic textbooks contain a theoretical discussion of the backward‐bending labor supply curve, scant empirical evidence of this phenomenon exists. In this paper we investigate the behavior of PGA golf professionals as they make labor‐leisure choices for performing on the PGA Tour. Using tournament theory to model this labor market and data from tournament performances over three seperate years, we find significant evidence that higher paid PGA Tour players do indeed operate in the backward‐bending region of their labor supply curves.

Journal

Managerial Finance – Emerald Publishing

Published: Jul 1, 2000

Keywords: Economic theory; Supply; Labour; Financial incentives; Sport

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