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and NAFTA while major exporters are China, Hong Kong, the US and France, and major importers are the US, Japan, Germany … goods in global trade. A hierarchical ascendant classification methodology shows that China is a quite specific (dominant …
Persistent link: https://www.econbiz.de/10005731685
and NAFTA while major exporters are China, Hong Kong, the US and France, and major importers are the US, Japan, Germany … goods in global trade. A hierarchical ascendant classification methodology shows that China is a quite specific (dominant …
Persistent link: https://www.econbiz.de/10005687937
Executive pay regulation is widely discussed as a measure to reduce financial mismanagement in corporations. We show that the professional team sports industry, the only industry with substantial experience in the regulation of compensation arrangements, provides valuable insights for the...
Persistent link: https://www.econbiz.de/10008876693
As sports clubs jointly produce contests, they cannot determine contest quality through their private talent investments. Sports leagues therefore try to coordinate talent investments towards the profit-maximizing contest quality. In this paper I analyze how revenue sharing mechanisms may serve...
Persistent link: https://www.econbiz.de/10008876694
Professional sports leagues have witnessed the appearance of so-called "sugar daddies" - people who invest enormous amounts of money into clubs and become their owners. This paper presents a contest model of a professional sports league that incorporates this phenomenon. We analyze how the...
Persistent link: https://www.econbiz.de/10008876695
This paper outlines and compares the organizational structure of major sports leagues, explores the reasoning behind their formation, and derives implications for salary caps in European football. To understand why sports leagues have developed a specific organizational structure, one must take...
Persistent link: https://www.econbiz.de/10008876696
The competition rules and policy framework of the European Union represents an important institutional restriction for doing sports business. Driven by the courts, the 2007 overhaul of the approach and methodology has increased the scope of competition policy towards sports associations and...
Persistent link: https://www.econbiz.de/10008876697
Despite still being younger than a decade, the theory of multisided markets has offered numerous valuable insights for the analysis of industries in which a supplier serves two distinct customer groups that are indirectly interrelated by externalities. Examples include payment systems, matching...
Persistent link: https://www.econbiz.de/10008876698
In this note I estimate and compare Tullock- and Hirshleifer-style contest success functions (CSFs) using data from the 4 major American sports leagues. I ?nd that Tullock CSFs based on relative efforts fit the data better than Hirshleifer CSFs based on absolute effort differences.
Persistent link: https://www.econbiz.de/10008876699
accounted for. In addition, the paper describes the technique for estimating dynamic panel data and the advantages that come …
Persistent link: https://www.econbiz.de/10009024557