What is Heteroskedasticity

This paper examines the gender wage gap in professional sports using a pooled cross-section of professional tennis players across the years 2011-2017. The dependent variable is the prize money earned by the top fifty male and top fifty female ranked tennis players throughout the world. This prize money is measured in 2017 real dollar value. The independent variables include: number of tournaments played, age, rank differentiation, gender, country and WTA/ATP score. Gender inequality is measured by determining the wage gap shown through the mean prize money earned by the professional tennis players from 2011-2017. While prize money for men and women has recently become equal in the Grand Slam tournaments, there is evidence to show that women's prize money is considerably lower in the less-publicized tournaments. Results of the ordinary least squares (OLS) regressions suggest that there is evidence for a gender-related pay disparity in professional tennis due to a number of statistically significant variables including WTA/ATP score (+), age (+), country (+) and the gender (-) and year (+) dummies.