I did a little article for the Wall Street Journal, appearing today, about beer costs. It's an extension of the fan value post I did at BtB a few weeks back. Fun!
This led us to wonder: Does quality have anything to do with beer prices?
Surprisingly, it does. A team with a .600 winning percentage charges, on average, about $1.30 more for a 16-ounce beer than does a team with a .400 percentage.
Well done, Justin. Assuming there is some correlation with winning % and market size and that larger markets are generally more expensive places to live, shouldn't we expect higher beer prices from winning teams? -Ken
I played with cost of living adjustments a bit. The short story is that it does make a difference, but the trend between beer price and winning % remains (though it's not as strong).
The WSJ didn't want to the CoL stuff because I was using data from a CNN site, and I didn't feel like messing getting another data source. -j
Well done, Justin. Assuming there is some correlation with winning % and market size and that larger markets are generally more expensive places to live, shouldn't we expect higher beer prices from winning teams? -Ken
ReplyDeleteI played with cost of living adjustments a bit. The short story is that it does make a difference, but the trend between beer price and winning % remains (though it's not as strong).
ReplyDeleteThe WSJ didn't want to the CoL stuff because I was using data from a CNN site, and I didn't feel like messing getting another data source.
-j
You are no longer anonymous Justin Merry
ReplyDeleteOk, creepy. :)
ReplyDelete