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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. doi:10.1257/aer.p20151038.

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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 DOIArticle Paper
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.
Funding AgencyGrant Number
John D. and Catherine T. MacArthur FoundationUNSPECIFIED
Other Numbering System:
Other Numbering System NameOther Numbering System ID
National Bureau of Economic Research21085
Issue or Number:5
Classification Code:JEL: D14; J44; L83; Z22
Record Number:CaltechAUTHORS:20150420-101912228
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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
Deposited By: Tony Diaz
Deposited On:20 Apr 2015 18:28
Last Modified:10 Nov 2021 21:03

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