Putting a price on popularity: Evidence from superstars in the National Basketball Association

This study estimates spectator willingness-to-pay (WTP) for superstars in the National Basketball Association. Using microdata from an online secondary ticket marketplace and player absence announcements, I find 4%-22% ($4-$41) reductions in prices when superstars are announced to miss games. Additionally, LeBron James and Stephen Curry exhibit larger impacts in away games: 21% ($73/ticket) for James and 18% ($50/ticket) for Curry. The findings suggest popularity is a better predictor of WTP than productivity, and in line with existing superstar literature, popularity predicts price impacts convexly. This study provides a novel methodology to estimate superstar value, generating implications for the entertainment industry.