Goal! profit maximization versus win maximization in soccer

Review of Industrial Organization

Volumn 34, Issue 1, 2009, Pages 45-68

  Garcia del Barrio, Pedro ^a   Szymanski, Stefan ^b  

^a UNIVERSITAT INTERNACIONAL DE CATALUNYA   (Spain)

^b CITY UNIVERSITY   (United Kingdom)

Author keywords

Club owners' objectives; Profits; Sport performance

Indexed keywords

ESTIMATION METHOD; PERFORMANCE ASSESSMENT; PROFITABILITY; SPORT;

EID: 62749164728     PISSN: 0889938X     EISSN: 15737160     Source Type: Journal    
DOI: 10.1007/s11151-009-9203-6     Document Type: Article

References (39)

1. Alchian A. (1950) Uncertainty, evolution and economic theory. Journal of Political Economy, 58: 211-221
2. Alexander D.L. (2001) Major league baseball: Monopoly pricing and profit-maximizing behavior. Journal of Sports Economics, 2(4): 341-355
3. Ascari G., Gagnepain P. (2006) Spanish football. Journal of Sports Economics, 7(1): 76-89
4. Atkinson S., Stanley L., Tschirhart J. (1988) Revenue sharing as an incentive in an agency problem: An example from the National Football League. Rand Journal of Economics, 19(1): 27-43
5. Barajas, A. (2005). El Valor Econocmico Del Fütbol. Radiografïa Financiera Del Fütbol Español. Pamplona: Ediciones Universidad de Navarra.
6. Chiappori P.A., Levitt S., Groseclose T. (2002) Testing mixed-strategy equilibria when players are heterogeneous: The case of penalty kicks in Soccer. American Economic Review, 92(4): 1138-1151
7. Dutta P., Radner R. (1999) Profit maximization and the market selection hypothesis. Review of Economic Studies, 66(4): 769-798
8. Ferguson D.G., Jones J.C.H., LeDressay A., Stewart K.G. (1991) The pricing of sports events: Do teams maximize profits?. Journal of Industrial Economics, 39: 291-310
9. Forrest D., Simmons R. (2002) Team salaries and playing success in sports: A comparative perspective. Zeitschrift für Betriebswirtschaft, 66: 221-237
10. Fort R., Quirk J. (1995) Cross subsidization, incentives and outcomes in professional team sports leagues. Journal of Economic Literature, XXXIII(3: 1265-1299
11. Fort R., Quirk J. (2004) Owner objectives and competitive balance. Journal of Sports Economics, 5(1): 20-32
12. Frick, B., & Simmons, R. (2007). The impact of managerial quality on organizational performance: Evidence from German Soccer. AIES-IASE Working Papers Series, Paper No. 07-08.
13. Garcia-del-Barrio P., Pujol F. (2007) Hidden monopsony rents in winner-take-all markets. Sport and economic contribution of Spanish soccer players. Managerial and Decision Economics, 28: 57-70
14. Greene W. (2003) Econometric analysis (5th ed). Prentice Hall, New York
15. Hall S., Szymanski S., Zimbalist A. (2002) Testing causality between team performance and payroll: The cases of Major League Baseball and English soccer. Journal of Sports Economics, 3(2): 149-168
16. Hoehn T., Szymanski S. (1999) The Americanization of European Football. Economic Policy, 28: 205-240
17. Hortacsu A., Puller S. (2008) Understanding strategic bidding in multi-unit auctions: A case study of the Texas electricity spot market. The RAND Journal of Economics, 39(1): 86-114
18. Kahn L. (2000) The sports business as a labor market laboratory. Journal of Economic Perspectives, 14(3): 75-94
19. Késenne S. (1996) League management in professional team sports with win maximizing clubs. European Journal for Sport Management, 2(2): 14-22
20. Késenne S. (2000) Revenue sharing and competitive balance in professional team sports. Journal of Sports Economics, 1(1): 56-65
21. MacArthur R.H., Pianka E.R. (1966) On the optimal use of a patchy environment. American Naturalist, 100: 603-609
22. Nelson R., Winter S. (1982) An evolutionary theory of economic change. Harvard University Press, Cambridge, Massachusetts
23. Noll R. (2002) The economics of promotion and relegation in sports leagues: The case of English football. Journal of Sports Economics, 3(2): 169-203
24. Palacios-Huerta I. (2003) Professionals play minimax. Review of Economic Studies, 70(2): 395-415
25. Quirk J., Fort R. (1992) Pay dirt: The business of professional team sports. Princeton University Press, Princeton N.J.
26. Romer D. (2006) Do firms maximize? Evidence from professional football. Journal of Political Economy, 114: 3
27. Rubinstein A. (2006) A Sceptic's comment on the study of economics. Economic Journal, 116(510): C1-C9
28. Scott Morton F., Podolny J. (2002) Love or money? The effects of owner motivation in the California wine industry. Journal of Industrial Economics, 50(4): 431-456
29. Sloane P. (1971) The economics of professional football: The football club as a utility maximizer. Scottish Journal of Political Economy, 17(2): 121-146
30. Szymanski S. (2001) Income inequality, competitive balance and the attractiveness of team sports: Some evidence and a natural experiment from English Soccer. Economic Journal, 111: F69-F84
31. Szymanski S. (2003) The economic design of sporting contests. Journal of Economic Literature, XLI, 1137(1187): 1137-1187
32. Szymanski S., Kuypers T. (1999) Winners and losers: The business strategy of football. Viking Books, London
33. Szymanski S., Smith R. (1997) The English football industry, profit, performance and industrial structure. International Review of Applied Economics, 11(1): 135-153
34. Szymanski S., Valletti T. (2005) Promotion and relegation in sporting contests. Rivista di Politica Economica, 95(5/6): 3-39
35. Tullock G. (1980) Efficient rent seeking. In: Buchanan J., Tollison R., Tullock G.(eds) Toward a theory of rent seeking society. A&M University Press, Texas, pp 97-112
36. Vrooman J. (1995) A general theory of professional sports leagues. Southern Economic Journal, 61(4): 971-990
37. Walker M., Wooders J. (2001) Minimax play at Wimbledon. American Economic Review, 91(5): 1521-1538
38. Zimbalist A. (2003a) Sport as business. Oxford Review of Economic Policy, 19(4): 503-511
39. Zimbalist A. (2003b) May the best team win: Baseball economics and public policy. Brookings Institute, Washington