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Loss Aversion in Professional Golf

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  • Ryan Elmore
  • Andrew Urbaczewski

Abstract

We examine loss aversion in the context of professional golf at US Open tournaments. In particular, we analyze data from two courses, Pebble Beach Golf Links and Oakmont Country Club, where they have hosted six and five US Opens, respectively. The United States Golf Association changed the par rating of a hole on each course from a par 5 to a par 4, without fundamentally altering the hole, in each US Open hosted by these courses since 2000. In this natural experimental setting, we find evidence of significant loss-aversive behavior in the world’s best golfers based solely on par rating.

Suggested Citation

  • Ryan Elmore & Andrew Urbaczewski, 2021. "Loss Aversion in Professional Golf," Journal of Sports Economics, , vol. 22(2), pages 202-217, February.
    • Handle: RePEc:sae:jospec:v:22:y:2021:i:2:p:202-217
    DOI: 10.1177/1527002520967403
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    References listed on IDEAS

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    3. Christoph Buehren & Marvin Gabriel, 2021. "Performing best when it matters the most: Evidence from professional handball," MAGKS Papers on Economics 202119, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    4. Haijiao Cui & Bin Cao & Aimei Li & Zhaohui Li, 2023. "A General Model of Subjective Value and Stimulus-Intensity-Sensitive Hedonic Editing Strategy," Journal of Happiness Studies, Springer, vol. 24(3), pages 1191-1217, March.

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