Fan Substitution and the 2004-05 NHL Lockout

Abstract

This study estimates fan substitution in sports using the 2004-05 National Hockey League (NHL) season-long lockout as a natural experiment. The authors find that NHL fans substitute minor league and junior league hockey for the NHL. Because this is not due to a change in the price of a substitute good, the findings point to pure substitution effects without income effects. The findings have implications for future work on fan demand, especially for those studying habit and loyalty, or sports policy.