Auf dem Markt für Informationen über feine Weine konnte sich Robert M. Parker eine dominante Stellung als sogenannter Weinkritiker aufbauen. Der vorgelegte Beitrag hat zum Ziel, die ökonomischen Mechanismen und „Geschäftsmodelle“ offen zu legen, die hinter Parkers Erfolg als Weinkritiker...

The analysis focuses on the basic institutional mechanisms governing open source software development. It explains why these institu-tional mechanisms enable rent-seeking without crowding out donative behavior. The “symbiotic” institutional arrangements translate into an ability to attract...

There is an on-going debate about the optimal degree of team solidarity in professional European soccer leagues. Support for a high degree of team solidarity has been coming from the theory of competitive balance, which states that diminished uncertainty of outcome will result in reduced...

We introduce agency concerns to social capital theory and predict that managers can use individual social capital to reduce personal effort costs, which is not in the best interest of the firm. To test this prediction, we collect data on all 8,019 hiring decisions from general managers in the...

Obwohl die Bundesliga in dem potentiell attraktivsten europäischen Fussballmarkt operiert, ziehen ihre Klubs in der Champions League vor allem gegen die Konkurrenten aus der Premier League systematisch den Kürzeren. Weil Überinvestition gerade nicht durch eine Auflösung der betroffenen Klubs...

There is a well-established literature on separately testing the prediction power of different betting market settings. This paper provides an inter-market comparison of the forecasting accuracy between bookmakers and a major betting exchange. Employing a dataset covering all football matches...

Existing studies about the determinants of the so-called couch potato audience in sports concentrate on the quality of the sporting contest which involves both the absolute playing strength of the competing teams and the relative evenness of the competition. Regarding national team competitions,...