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Flexible Modelling of Time to Failure in Risky Careers

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  • Atkinson, Scott E
  • Tschirhart, John

Abstract

Failure time models correcting for heterogeneity are used to explain the length of participation in a risky career. Using data from t he National Football League, the authors first employ a class of techniques whic h ignore unobserved heterogeneity; hence these methods impose severe restriction s on the estimated hazard. The authors then examine a second class of techniques which correct for unobserv-ables and thereby allow greater flexibility in the e stimated hazard. Within this second class, they find that the estimated hazard u sing the Burr-12 density is much more accurate than densities in the first class , which include the exponential and Weibull. They expect that this density could be employed to successfully explain career duration in other high-risk, high-st resscareers as well. Copyright 1986 by MIT Press.

Suggested Citation

  • Atkinson, Scott E & Tschirhart, John, 1986. "Flexible Modelling of Time to Failure in Risky Careers," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 558-566, November.
  • Handle: RePEc:tpr:restat:v:68:y:1986:i:4:p:558-66
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    Cited by:

    1. Mihailo Radoman & Marcel C. Voia, 2015. "Youth Training Programs and Their Impact on Career and Spell Duration of Professional Soccer Players," LABOUR, CEIS, vol. 29(2), pages 163-193, June.
    2. Bernd Frick & Gunnar Pietzner & Joachim Prinz, 2007. "Career Duration a Competitive Environment: The Labor Market for Soccer Players in Germany," Eastern Economic Journal, Eastern Economic Association, vol. 33(3), pages 429-442, Summer.
    3. Bernd Frick & Friedrich Scheel, 2016. "Fly Like an Eagle," Journal of Sports Economics, , vol. 17(8), pages 813-831, December.
    4. Göke Stefan & Prinz Joachim & Weimar Daniel, 2014. "Diamonds are Forever: Job-Matching and Career Success of Young Workers," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(4), pages 450-473, August.
    5. Boyden Nathaniel B & Carey James R, 2010. "From One-and-Done to Seasoned Veterans: A Demographic Analysis of Individual Career Length in Major League Soccer," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 6(4), pages 1-17, October.
    6. W. David Allen & William P. Curington, 2018. "Managerial time constraints and young worker productivity: Natural experiments with NFL rookies," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 39(2), pages 180-199, March.

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