The Benefits of College Athletic Success: An Application of the Propensity Score Design
利用博彩赔率估计大学橄榄球队获胜概率，通过倾向评分设计分析获胜对捐赠、申请人数、录取率及学术声誉的影响，发现获胜能提高捐赠和申请量，降低录取率并提升SAT成绩。
Spending on big-time college athletics is often justified on the grounds that athletic success attracts students and raises donations. We exploit data on bookmaker spreads to estimate the probability of winning each game for college football teams. We then condition on these probabilities using a propensity score design to estimate the effects of winning on donations, applications, and enrollment. The resulting estimates represent causal effects under the assumption that, conditional on bookmaker spreads, winning is uncorrelated with potential outcomes. We find that winning reduces acceptance rates and increases donations, applications, academic reputation, in-state enrollment, and incoming SAT scores.