IDEAS home Printed from https://ideas.repec.org/a/taf/applec/v54y2022i27p3138-3153.html
   My bibliography  Save this article

Predicting individual event attendance with machine learning: a ‘step-forward’ approach

Author

Listed:
  • Jeremy K. Nguyen
  • Adam Karg
  • Abbas Valadkhani
  • Heath McDonald

Abstract

Accurately predicting attendance at live events has important operational and financial implications for the arts, entertainment and sport industries. Advances in machine learning offer the potential to improve these processes. Using 10 rounds of attendance data from 5,946 season ticket holders of one professional football team (i.e. 59,460 decisions), we assess the ability of four machine learning approaches to predict attendance. Our results indicate that two machine learning algorithms, XGBoost and Support Vector Machine (SVM), outperform the most commonly employed methodology for modelling individual sport attendance (i.e. logistic regression), in terms of accuracy, recall, F-score and area under the curve (AUC). Random forest and boosted aggregation (bagging) approaches are also compared. Our results suggest that adopting machine learning methodologies, and in particular, XGBoost and SVM, offers providers of live events an improved ability to understand and predict individual attendance, and insight into which consumers are most receptive to changing attendance decisions.

Suggested Citation

  • Jeremy K. Nguyen & Adam Karg & Abbas Valadkhani & Heath McDonald, 2022. "Predicting individual event attendance with machine learning: a ‘step-forward’ approach," Applied Economics, Taylor & Francis Journals, vol. 54(27), pages 3138-3153, June.
  • Handle: RePEc:taf:applec:v:54:y:2022:i:27:p:3138-3153
    DOI: 10.1080/00036846.2021.2003747
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00036846.2021.2003747
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/00036846.2021.2003747?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dominik Schreyer, 2019. "Football spectator no-show behaviour in the German Bundesliga," Applied Economics, Taylor & Francis Journals, vol. 51(45), pages 4882-4901, September.
    2. McHale, Ian & Morton, Alex, 2011. "A Bradley-Terry type model for forecasting tennis match results," International Journal of Forecasting, Elsevier, vol. 27(2), pages 619-630, April.
    3. Baimbridge, Mark & Cameron, Samuel & Dawson, Peter, 1996. "Satellite Television and the Demand for Football: A Whole New Ball Game?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 43(3), pages 317-333, August.
    4. Tim Pawlowski & Georgios Nalbantis, 2015. "Competition format, championship uncertainty and stadium attendance in European football - a small league perspective," Applied Economics, Taylor & Francis Journals, vol. 47(38), pages 4128-4139, August.
    5. Walter C. Neale, 1964. "The Peculiar Economics of Professional Sports," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(1), pages 1-14.
    6. Maurizio Valenti & Nicolas Scelles & Stephen Morrow, 2020. "The determinants of stadium attendance in elite women’s football: Evidence from the UEFA Women's Champions League," Sport Management Review, Taylor & Francis Journals, vol. 23(3), pages 509-520, July.
    7. Jeffery Borland, 2003. "Demand for Sport," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 19(4), pages 478-502, Winter.
    8. Dario Sansone & Anna Zhu, 2023. "Using Machine Learning to Create an Early Warning System for Welfare Recipients," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(5), pages 959-992, October.
    9. Xiaolei Sun & Qianqian Feng & Jianping Li, 2021. "Understanding country risk assessment: a historical review," Applied Economics, Taylor & Francis Journals, vol. 53(37), pages 4329-4341, August.
    10. Sofia Izquierdo Sanchez & Caroline Elliott & Robert Simmons, 2016. "Substitution between leisure activities: a quasi-natural experiment using sports viewing and cinema attendance," Applied Economics, Taylor & Francis Journals, vol. 48(40), pages 3848-3860, August.
    11. Valenti, Maurizio & Scelles, Nicolas & Morrow, Stephen, 2020. "The determinants of stadium attendance in elite women’s football: Evidence from the UEFA Women's Champions League," Sport Management Review, Elsevier, vol. 23(3), pages 509-520.
    12. Babatunde Buraimo & Neil Coster & David Forrest, 2021. "Spectator demand for the sport of kings," Applied Economics, Taylor & Francis Journals, vol. 53(51), pages 5883-5897, November.
    13. Joseph Price & Kasey Buckles & Jacob Van Leeuwen & Isaac Riley, 2019. "Combining Family History and Machine Learning to Link Historical Records," NBER Working Papers 26227, National Bureau of Economic Research, Inc.
    14. Hwang, Syjung & Kim, Jina & Park, Eunil & Kwon, Sang Jib, 2020. "Who will be your next customer: A machine learning approach to customer return visits in airline services," Journal of Business Research, Elsevier, vol. 121(C), pages 121-126.
    15. Tongyu Wang & Shangmei Zhao & Guangxiang Zhu & Haitao Zheng, 2021. "A machine learning-based early warning system for systemic banking crises," Applied Economics, Taylor & Francis Journals, vol. 53(26), pages 2974-2992, June.
    16. Hal Varian, 2018. "Artificial Intelligence, Economics, and Industrial Organization," NBER Chapters, in: The Economics of Artificial Intelligence: An Agenda, pages 399-419, National Bureau of Economic Research, Inc.
    17. Simon Rottenberg, 1956. "The Baseball Players' Labor Market," Journal of Political Economy, University of Chicago Press, vol. 64(3), pages 242-242.
    18. Steffen Q. Mueller, 2020. "Pre- and within-season attendance forecasting in Major League Baseball: a random forest approach," Applied Economics, Taylor & Francis Journals, vol. 52(41), pages 4512-4528, September.
    19. Abhinav Sacheti & Ian Gregory-Smith & David Paton, 2014. "Uncertainty of outcome or strengths of teams: an economic analysis of attendance demand for international cricket," Applied Economics, Taylor & Francis Journals, vol. 46(17), pages 2034-2046, June.
    20. Al-Nasseri, Alya & Menla Ali, Faek, 2018. "What does investors' online divergence of opinion tell us about stock returns and trading volume?," Journal of Business Research, Elsevier, vol. 86(C), pages 166-178.
    21. Pascal Courty & Luke Davey, 2020. "The Impact of Variable Pricing, Dynamic Pricing, and Sponsored Secondary Markets in Major League Baseball," Journal of Sports Economics, , vol. 21(2), pages 115-138, February.
    22. Jiang, Ping & Li, Ranran & Liu, Ningning & Gao, Yuyang, 2020. "A novel composite electricity demand forecasting framework by data processing and optimized support vector machine," Applied Energy, Elsevier, vol. 260(C).
    23. Qi Ge & Brad R. Humphreys & Kun Zhou, 2020. "Are Fair Weather Fans Affected by Weather? Rainfall, Habit Formation, and Live Game Attendance," Journal of Sports Economics, , vol. 21(3), pages 304-322, April.
    24. Singh, Jyoti Prakash & Irani, Seda & Rana, Nripendra P. & Dwivedi, Yogesh K. & Saumya, Sunil & Kumar Roy, Pradeep, 2017. "Predicting the “helpfulness” of online consumer reviews," Journal of Business Research, Elsevier, vol. 70(C), pages 346-355.
    25. Dominik Schreyer & Daniel Däuper, 2018. "Determinants of spectator no-show behaviour: first empirical evidence from the German Bundesliga," Applied Economics Letters, Taylor & Francis Journals, vol. 25(21), pages 1475-1480, December.
    26. Gregory A. Falls & Paul A. Natke, 2014. "College football attendance: a panel study of the Football Bowl Subdivision," Applied Economics, Taylor & Francis Journals, vol. 46(10), pages 1093-1107, April.
    27. Antonio M. Friedman-Soza & Jorge R. Friedman & Tomas A. Galvez-Silva & Carlos F. Yevenes, 2017. "Sport event attendance as a function of education: evidence from the UK," Applied Economics, Taylor & Francis Journals, vol. 49(59), pages 5905-5915, December.
    28. Amin, Adnan & Al-Obeidat, Feras & Shah, Babar & Adnan, Awais & Loo, Jonathan & Anwar, Sajid, 2019. "Customer churn prediction in telecommunication industry using data certainty," Journal of Business Research, Elsevier, vol. 94(C), pages 290-301.
    29. Martínez, Andrés & Schmuck, Claudia & Pereverzyev, Sergiy & Pirker, Clemens & Haltmeier, Markus, 2020. "A machine learning framework for customer purchase prediction in the non-contractual setting," European Journal of Operational Research, Elsevier, vol. 281(3), pages 588-596.
    30. Albrecht, Tobias & Rausch, Theresa Maria & Derra, Nicholas Daniel, 2021. "Call me maybe: Methods and practical implementation of artificial intelligence in call center arrivals’ forecasting," Journal of Business Research, Elsevier, vol. 123(C), pages 267-278.
    31. Coussement, Kristof & De Bock, Koen W., 2013. "Customer churn prediction in the online gambling industry: The beneficial effect of ensemble learning," Journal of Business Research, Elsevier, vol. 66(9), pages 1629-1636.
    32. Chang Wang & Dries Goossens & Martina Vandebroek, 2018. "The Impact of the Soccer Schedule on TV Viewership and Stadium Attendance," Journal of Sports Economics, , vol. 19(1), pages 82-112, January.
    33. Edward I. Altman & Małgorzata Iwanicz-Drozdowska & Erkki K. Laitinen & Arto Suvas, 2020. "A Race for Long Horizon Bankruptcy Prediction," Applied Economics, Taylor & Francis Journals, vol. 52(37), pages 4092-4111, July.
    34. McHale, Ian & Morton, Alex, 2011. "A Bradley-Terry type model for forecasting tennis match results," International Journal of Forecasting, Elsevier, vol. 27(2), pages 619-630.
    35. Peng, Ling & Cui, Geng & Chung, Yuho, 2020. "Do the pieces fit? Assessing the configuration effects of promotion attributes," Journal of Business Research, Elsevier, vol. 109(C), pages 337-349.
    36. Goller, Daniel & Krumer, Alex, 2020. "Let's meet as usual: Do games played on non-frequent days differ? Evidence from top European soccer leagues," European Journal of Operational Research, Elsevier, vol. 286(2), pages 740-754.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dominik Schreyer, 2019. "Football spectator no-show behaviour in the German Bundesliga," Applied Economics, Taylor & Francis Journals, vol. 51(45), pages 4882-4901, September.
    2. Schreyer & Torgler Benno & Schmidt Sascha L., 2018. "Game Outcome Uncertainty and Television Audience Demand: New Evidence from German Football," German Economic Review, De Gruyter, vol. 19(2), pages 140-161, May.
    3. Raul Caruso & Francesco Addesa & Marco Di Domizio, 2019. "The Determinants of the TV Demand for Soccer: Empirical Evidence on Italian Serie A for the Period 2008-2015," Journal of Sports Economics, , vol. 20(1), pages 25-49, January.
    4. Wen-Jhan Jane, 2014. "The Relationship Between Outcome Uncertainties and Match Attendance: New Evidence in the National Basketball Association," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 45(2), pages 177-200, September.
    5. Dominik Schreyer & Sascha L. Schmidt & Benno Torgler, 2017. "Game Outcome Uncertainty and the Demand for International Football Games: Evidence From the German TV Market," Journal of Media Economics, Taylor & Francis Journals, vol. 30(1), pages 31-45, January.
    6. Trung Minh Dang & Ross Booth & Robert Brooks & Adi Schnytzer, 2015. "Do TV Viewers Value Uncertainty of Outcome? Evidence from the Australian Football League," The Economic Record, The Economic Society of Australia, vol. 91(295), pages 523-535, December.
    7. Besters, Lucas, 2018. "Economics of professional football," Other publications TiSEM d9e6b9b7-a17b-4665-9cca-1, Tilburg University, School of Economics and Management.
    8. Wladimir Andreff, 2009. "Équilibre compétitif et contrainte budgétaire dans une ligue de sport professionnel," Revue économique, Presses de Sciences-Po, vol. 60(3), pages 591-633.
    9. Halkos, George & Tzeremes, Nickolaos, 2012. "Evaluating professional tennis players’ career performance: A Data Envelopment Analysis approach," MPRA Paper 41516, University Library of Munich, Germany.
    10. Schreyer, Dominik & Schmidt, Sascha L. & Torgler, Benno, 2016. "Against all odds? Exploring the role of game outcome uncertainty in season ticket holders’ stadium attendance demand," Journal of Economic Psychology, Elsevier, vol. 56(C), pages 192-217.
    11. Scelles, Nicolas (Сели, Николя) & Duran, Christophe (Дюра, Кристоф) & Bonnal, Liliane (Бонналь, Лилиан) & Goyeau, Daniel (Гойюс, Даниэль) & Andreff, Wladimir (Андрефф, Владимир), 2016. "Do all sporting prizes have a significant positive impact on attendance in a European national football league? Competitive intensity in the French Ligue 1 [Действительно Ли Все Спортивные Призы Ок," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 82-107, June.
    12. Dominik Schreyer & Sascha L. Schmidt & Benno Torgler, 2019. "Football Spectator No-Show Behavior," Journal of Sports Economics, , vol. 20(4), pages 580-602, May.
    13. Kevin Alavy & Alison Gaskell & Stephanie Leach & Stefan Szymanski, 2010. "On the Edge of Your Seat: Demand for Football on Television and the Uncertainty of Outcome Hypothesis," International Journal of Sport Finance, Fitness Information Technology, vol. 5(2), pages 75-95, May.
    14. Stephan Lenor & Liam J. A. Lenten & Jordi McKenzie, 2016. "Rivalry Effects and Unbalanced Schedule Optimisation in the Australian Football League," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 49(1), pages 43-69, August.
    15. Farai Jena & Barry Reilly, 2022. "Are spectator preferences weaker for cup compared to league competitions? Evidence from Irish soccer," Applied Economics Letters, Taylor & Francis Journals, vol. 29(9), pages 835-841, May.
    16. Dominik Schreyer & Benno Torgler, 2018. "On the Role of Race Outcome Uncertainty in the TV Demand for Formula 1 Grands Prix," Journal of Sports Economics, , vol. 19(2), pages 211-229, February.
    17. Morten Kringstad & Tor-Eirik Olsen & Tor Georg Jakobsen & Rasmus K. Storm & Nikolaj Schelde, 2021. "Match Experience at the Danish Women’s Soccer National A-Team Matches: An Explorative Study," Sustainability, MDPI, vol. 13(5), pages 1-20, March.
    18. Tim Pawlowski, 2013. "Testing the Uncertainty of Outcome Hypothesis in European Professional Football," Journal of Sports Economics, , vol. 14(4), pages 341-367, August.
    19. Alexander John Bond & Francesco Addesa, 2020. "Competitive Intensity, Fans’ Expectations, and Match-Day Tickets Sold in the Italian Football Serie A, 2012-2015," Journal of Sports Economics, , vol. 21(1), pages 20-43, January.
    20. Tim Wallrafen & Georgios Nalbantis & Tim Pawlowski, 2022. "Competition and Fan Substitution Between Professional Sports Leagues," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 61(1), pages 21-43, August.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:applec:v:54:y:2022:i:27:p:3138-3153. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEC20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.