Jason Winfree - NYU Stern School of Business

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Major league results Players that immediately entered minor league baseball Explanatory Variable Probit Estimation Second Stage Estimation Constant 0.1698 -4.6610 Round -0.1023** -1.5077 Round 2 0.0014** 0.0205 Catcher -0.0835 0.3143 Infielder 0.0898 3.1074** Outfielder 0.0055 1.5658* Year -0.0002 -0.0886 Rule 0.1813 2.1150 South -0.0711 -1.2616 Log-Likelihood -1257.20 R 2 .0770 Sample Size 3010 561
Major league results Players that went to college Explanatory Variable Probit Estimation Second Stage Estimation Constant -0.9556** -26.6633 Round -0.0425** -0.8179 Round 2 0.0005** 0.0089 Catcher -0.4179** -7.6685 Infielder -0.0320 0.8961 Outfielder -0.0027 0.6066 Year 0.0283** 0.5871 Rule 0.3350** 5.2722 South -0.0808 -1.4489 Log-Likelihood 1375.78 R 2 .0317 Sample Size 4790 431
Page 1 and 2: THE VALUE OF COLLEGE: DRAFTED HIGH
Page 3 and 4: Research Question • The financial
Page 5 and 6: Baseball Draft • The MLB draft be
Page 7 and 8: Previous Studies • A classic prob
Page 9 and 10: Assumed Values • Certain values w
Page 11 and 12: Statistical Estimation • Three va
Page 13 and 14: Data • Number of minor leagues ye
Page 15 and 16: Signing bonus variables • We esti
Page 17 and 18: Minor and Major League variables
Page 19: Minor league results Players that w
Page 23 and 24: Who went to college?
Page 25: Future uses • This can be used to

Jason Winfree - NYU Stern School of Business

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