14th Economics & Finance Virtual Conference, Lisbon

REPRESENTATIVENESS IN FANTASY SPORT

VOJTĚCH KOTRBA

Abstract:

Conclusions of behavioral economics show that an individual may not act optimally and rationally in his decision-making. However, those findings, coming mainly from laboratory conditions, need to be verified in the real environment. This paper examines the presence of the representativeness heuristic in the environment of fantasy sport. The data come from a fantasy league according to National Hockey League in season 2015-16. Its users come mainly from the Czech Republic. The results show a moderately strong presence of representativeness. Nevertheless, the irrationality manifests for example by higher demand for the same nationality hockey players. However, the main influence of demand is still the athletes’ performance. Supported by: the grants No. VŠE IGA 506020 (IGS F5/4/2020) and VŠE IGA 506010 (IGS F5/2/2020) of the Internal Grant Agency by Faculty of Economics, University of Economic in Prague.

Keywords: Czechs; fantasy sport; National Hockey League; representativeness

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