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Bankruptcy Rates among NFL Players with Short-Lived Income Spikes

Carlson, Kyle and Kim, Joshua and Lusardi, Annamaria and Camerer, Colin F. (2015) Bankruptcy Rates among NFL Players with Short-Lived Income Spikes. American Economic Review, 105 (5). pp. 381-384. ISSN 0002-8282. http://resolver.caltech.edu/CaltechAUTHORS:20150420-101912228

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Abstract

We test for consumption smoothing using bankruptcy data on players in the National Football League (NFL), who typically earn several million dollars during an income spike that lasts a few years. The life-cycle hypothesis predicts that players should save substantially while playing and then have little risk of bankruptcy post-NFL. However, players in our sample begin to file for bankruptcy soon after they stop playing and continue filing at a high rate through at least the first 12 years of retirement. Players' total earnings and career lengths have surprisingly little effect on the risk of bankruptcy.


Item Type:Article
Related URLs:
URLURL TypeDescription
http://dx.doi.org/10.1257/aer.p20151038 DOIArticle
https://www.aeaweb.org/articles.php?doi=10.1257/aer.p20151038PublisherArticle
http://www.nber.org/papers/w21085OrganizationDiscussion Paper
ORCID:
AuthorORCID
Camerer, Colin F.0000-0003-4049-1871
Additional Information:© 2015 American Economic Association. NBER Working Paper No. 21085. CFC thanks the MacArthur Foundation and the BNDF (Caltech). We thank Zach Fein macand Stephen Loesch for careful research assistance..
Funders:
Funding AgencyGrant Number
John D. and Catherine T. MacArthur FoundationUNSPECIFIED
BNDF, CaltechUNSPECIFIED
Other Numbering System:
Other Numbering System NameOther Numbering System ID
National Bureau of Economic Research21085
Classification Code:JEL: D14; J44; L83; Z22
Record Number:CaltechAUTHORS:20150420-101912228
Persistent URL:http://resolver.caltech.edu/CaltechAUTHORS:20150420-101912228
Official Citation:Carlson, Kyle, Joshua Kim, Annamaria Lusardi, and Colin F. Camerer. 2015. "Bankruptcy Rates among NFL Players with Short-Lived Income Spikes." American Economic Review, 105(5): 381-84.
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:56772
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:20 Apr 2015 18:28
Last Modified:09 Nov 2017 00:45

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