Bankruptcy Rates among NFL Players with Short-Lived Income Spikes
研究美国国家橄榄球联盟（NFL）球员在收入短期暴增后的破产情况，发现球员退役后破产率持续偏高，且总收入与职业生涯长度对破产风险影响甚微。
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.