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The Value of College

Author

Listed:
  • Jason A. Winfree

    (University of Michigan)

  • Christopher J. Molitor

    (Eastern Washington University)

Abstract

This article investigates the decision of high school athletes to pursue college educations or play professional sports immediately after high school. Using salary, draft, and playing data for Major League Baseball, along with minor league playing data, the authors estimate the lifetime earnings of drafted high school baseball players. The results show that players drafted in higher rounds with more ability should enter professional baseball, but players drafted in lower rounds have higher expected earnings if they attend college. The authors also find that in 2003, players' decisions were highly correlated with the difference in expected lifetime earnings.

Suggested Citation

  • Jason A. Winfree & Christopher J. Molitor, 2007. "The Value of College," Journal of Sports Economics, , vol. 8(4), pages 378-393, August.
    • Handle: RePEc:sae:jospec:v:8:y:2007:i:4:p:378-393
    DOI: 10.1177/1527002506287700
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    References listed on IDEAS

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    7. Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2004. "How Much Should We Trust Differences-In-Differences Estimates?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 249-275.
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    Citations

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    Cited by:

    1. Justin Sims & Vittorio Addona, 2016. "Hurdle Models and Age Effects in the Major League Baseball Draft," Journal of Sports Economics, , vol. 17(7), pages 672-687, October.
    2. Barbara Arel & Michael J. Tomas III, 2012. "The NBA Draft," Journal of Sports Economics, , vol. 13(3), pages 223-249, June.
    3. Martin Grossmann, 2021. "Asymmetric Opportunities After an Unsuccessful Sports Career," Journal of Sports Economics, , vol. 22(5), pages 587-612, June.
    4. N. David Pifer & Christopher M. McLeod & William J. Travis & Colten R. Castleberry, 2020. "Who Should Sign a Professional Baseball Contract? Quantifying the Financial Opportunity Costs of Major League Draftees," Journal of Sports Economics, , vol. 21(7), pages 746-780, October.
    5. Heather Mitchell & Constantino Stavros & Mark F. Stewart, 2011. "Does the Australian Football League Draft Undervalue Indigenous Australian Footballers?," Journal of Sports Economics, , vol. 12(1), pages 36-54, February.
    6. Seth R. Gitter & Thomas A. Rhoads, 2011. "Top Prospects and Minor League Baseball Attendance," Journal of Sports Economics, , vol. 12(3), pages 341-351, June.
    7. Brad R. Humphreys & Yulia Chikish & Peter von Allmen, 2024. "Should I Stay or Should I Go Pro? Early NFL Draft Entry by NCAA FBS Underclassmen," Journal of Sports Economics, , vol. 25(3), pages 346-368, April.
    8. Chandler Gabriel & Stevens Guy, 2012. "An Exploratory Study of Minor League Baseball Statistics," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 8(4), pages 1-28, November.

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    Keywords

    Major League Baseball; education;

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