In this paper we discuss a simulation/probability model that identifies the team that is most likely to win a tournament. The model can also be used to answer other questions like ‘which team had a lucky draw?’ or ‘what is the probability that two teams meet at some moment in the...

Recent decades have witnessed major changes in the market for European soccer. The most profound were the Bosman ruling, which lifted restrictions in the European labor market for soccer talent, and the introduction of the Champions’ League, a high-profile international competition that...

The size of the jackpot of the American powerball lottery that fell in August 2001 has generated a lot of interest in the probability of winning a lottery, both in the United States and elsewhere. Many people dream of becoming rich in a single moment. We calculate the probabilities of winning...

Home advantage is a well documented phenomena in many types of sports. Home advantage has been shown to exist for team sports (soccer, hockey, football, baseball, basketball) and for countries organizing sports tournaments like the Olympics and World Cup Soccer. There is also some evidence for...

This paper discusses the development of a valuation model for convertible bonds with hard call features. We define a hard call feature as the possibility for the issuer to redeem a convertible bond before maturity by paying the call price to the bondholder. We use the binomial approach to model...

Most sports are interesting because the outcome of a game can not be predicted perfectly in advance. Indeed, sometimes sports organizations try to maximize the uncertainty associated with outcomes of games by restricting the behaviour of teams and players so as to maximize public interest. The...

Recent decades have witnessed major changes in the market for European soccer. The most profound were the Bosman ruling, which lifted restrictions in the European labor market for soccer talent, and the introduction of the Champions' League, a high-profile international competition that...