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Some comparative economics of the organization of sports: competition and regulation in north American vs. European professional team sports leagues

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  • Wladimir Andreff
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    Abstract

    This article contends that a new research avenue is open to comparative economics which is the economic comparison between American (closed) and European (open) professional team sports leagues. It starts with sketching the major institutional differences between the two leagues systems. Then it surveys the American modelling of competitive balance in these sports leagues that objects pro-competitive balance regulation as being non Walrasian when (American) teams are profit maximising. A next step is to cover how the Walrasian model has been adapted to European open leagues and their regulation of win maximising clubs under a hard budget constraint. Such approach has recently been outdated by models where win maximising clubs operate with a flexible supply of talent in a non cooperative game, given the globalization of the labour market for sporting talent (namely after the Bosman case). Finally, the article ploughs into a new research path advocating for a disequilibrium model where clubs would have a "soft" budget constraint rooted in their weak governance, and empirically tests a vicious circle between TV rights revenues and wages in French football that may explain the aforementioned disequilibrium.

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    File URL: http://eaces.liuc.it/18242979201101/182429792011080101.pdf
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    Bibliographic Info

    Article provided by Cattaneo University (LIUC) in its journal The European Journal of Comparative Economics.

    Volume (Year): 8 (2011)
    Issue (Month): 1 (June)
    Pages: 3-27

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    Handle: RePEc:liu:liucej:v:8:y:2011:i:1:p:3-27

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    Related research

    Keywords: sports economics; comparative economics; economic organisation; governance; sports leagues; Walrasian model; Nash equilibrium; competitive balance; regulation; soft budget constraint; TV rights; wages; profit maximising; win maximising;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Stefan Kesenne, 2000. "Revenue Sharing and Competitive Balance in Professional Team Sports," Journal of Sports Economics, , vol. 1(1), pages 56-65, February.
    2. Michel Aglietta & Wladimir Andreff & Bastien Drut, 2008. "Bourse et Football," Revue d'├ęconomie politique, Dalloz, vol. 0(2), pages 255-296.
      • Michel Aglietta & Wladimir Andreff & Bastien Drut, 2008. "Bourse et Football," Working Papers 0820, International Association of Sports Economists & North American Association of Sports Economists.
    3. Wladimir Andreff & Paul D. Staudohar, 2000. "The Evolving European Model of Professional Sports Finance," Journal of Sports Economics, , vol. 1(3), pages 257-276, August.
    4. Sylos Labini,Paolo, 2001. "Underdevelopment," Cambridge Books, Cambridge University Press, number 9780521588690, November.
    5. Edward Glaeser & Simon Johnson & Andrei Shleifer, 2001. "Coase Versus The Coasians," The Quarterly Journal of Economics, MIT Press, vol. 116(3), pages 853-899, August.
    6. Sloane, Peter J, 1971. "The Economics of Professional Football: The Football Club as a Utility Maximiser," Scottish Journal of Political Economy, Scottish Economic Society, vol. 18(2), pages 121-46, June.
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    Cited by:
    1. Egon Franck, 2013. "Financial Fair Play in European Club Football What is it all about?," Working Papers 328, University of Zurich, Department of Business Administration (IBW).

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