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Professional golf: labor or leisure

Otis W. Gilley (Clarke Williams/Century Telephone, Professor of Economics)
Marc C. Chopin (Associate Professor of Economics, Department of Economics, Louisiana Tech University, Ruston)

Managerial Finance

ISSN: 0307-4358

Article publication date: 1 July 2000

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.

Keywords

Citation

Gilley, O.W. and Chopin, M.C. (2000), "Professional golf: labor or leisure", Managerial Finance, Vol. 26 No. 7, pp. 33-45. https://doi.org/10.1108/03074350010766774

Publisher

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MCB UP Ltd

Copyright © 2000, MCB UP Limited