People want to watch a sports game which cannot anticipate the result until the end of the game. Sometimes, however, excessive tension of contest lowers the interest of audience. Vast amount of existing researches have focused on finding explanation about what makes a difference of the preference level of suspense among sports fans and where is the optimal level of suspense. We apply Expected Utility Theory and Prospect theory to illustrate the expected utility of sports spectators. According to our findings, if someone someone who is satisfied more when the cheering team wins, he or she may prefer lopsided match than close match. And fans who support winning team, which means team which wins often, prefer lopsided match to close match because they forecast their team will win more than fans who support losing team, which means team which loses often. We manipulate the level of satisfaction when the cheering team wins (S) and subjective forecasted probability of win before the game (Q) of respondents and measure the utility of them toward difference game aspect (P) to verify our hypothesis. This study was carried out to investigate how the satisfaction of sports spectators will change according to the change of the game aspect. In particular, research model was set up using the Expected Utility Theory and Prospect Theory of economics. The use of economics models to explain sports consumer behavior is different from that of previous studies, and consumers' prior expectations can affect the current game viewing based on Prospect Theory is another contribution of this research.

People face various situations that they have to decide whether to buy or not, before uncertainty is resolved. Under the uncertain conditions, it is most crucial part for consumers that they should consider the expected valuation derived from purchasing tickets or services. Thus, it is important to contemplate buyer uncertainty about future valuation. Xie and Shugan presented the relationship between spot price and advance price in a situation that involves uncertainty. Their findings provide the explicit advance pricing strategies that can create profit improvements (Xie & Shugan, 2001). Their findings lay a foundation of this problem, because buyers are almost always not sure about their future valuations for most services (Xie & Shugan, 2001). In addition to these findings, the researchers found that profits under option pricing strategy outperform those from advance pricing strategy (Preethika Sainam, 2010). They introduce the concept of consumer options and analytically prove that consumer options can make more profits and also can protect consumers from the pitfall derived from unwanted outcomes (Preethika Sainam, 2010). In this paper, we want to consider this problem under more complex and real circumstances. We include one more pricing strategy, discounted advance pricing, which is often called early bird pricing. Furthermore, we divide consumers in two types, risk-neutral consumers and risk-averse consumers. We present a simple analytical model in what conditions each pricing strategies can out-perform others based on consumer types and capacity types.