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Evolutionarily Stable Strategies in Sports Contests

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  • Martin Grossmann

    ()
    (Department of Business Administration, University of Zurich)

Abstract

Abstract: In the recent years, many clubs in the biggest European soccer leagues have run into debts. The sports economic literature provides several explanation for this development, e.g., the league structure (open versus closed league), club constitutions, ruinous rat races between clubs. While the majority of the articles presume the well-known Nash equilibrium concept, I apply evolutionary game theory in a sports contest model. If clubs follow evolutionarily stable strategies (ESS), then ESS generate higher investments and lower profits than predicted by Nash strategies independent of win maximizing or profit maximizing clubs. Overdissipation of the rent is possible for Nash strategies as well as for ESS.

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File URL: http://repec.business.uzh.ch/RePEc/iso/ISU_WPS/149_ISU_full.pdf
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Bibliographic Info

Paper provided by University of Zurich, Institute for Strategy and Business Economics (ISU) in its series Working Papers with number 0149.

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Length: 18 pages
Date of creation: Oct 2011
Date of revision:
Handle: RePEc:iso:wpaper:0149

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Related research

Keywords: Contest; evolutionary stable strategies; utility maximization; team sports league;

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  1. Martin Grossmann & Markus Lang & Philipp Theiler, 2010. "The Sugar Daddy's Game: How Wealthy Investors Change Competition in Professional Team Sports," Working Papers 0037, University of Zurich, Center for Research in Sports Administration (CRSA), revised Oct 2010.
  2. Helmut M. Dietl & Egon Franck & Markus Lang, 2008. "Overinvestment In Team Sports Leagues: A Contest Theory Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 55(3), pages 353-368, 07.
  3. Késenne Stefan & Szymanski S., 2003. "Competitive balance and gate revenue sharing in team sports," Working Papers 2003003, University of Antwerp, Faculty of Applied Economics.
  4. Helmut Dietl & Martin Grossmann & Markus Lang, 2010. "Competitive Balance and Revenue Sharing in Sports Leagues with Utility-Maximizing Teams," Working Papers 1006, International Association of Sports Economists & North American Association of Sports Economists.
  5. Pedro Garcia-del-Barrio & Stefan Szymanski, 2006. "Goal! Profit maximization and win maximization in football leagues," Working Papers 0621, International Association of Sports Economists & North American Association of Sports Economists.
  6. Stefan Kesenne, 2004. "The Win Maximization Model Reconsidered," IASE Conference Papers 0410, International Association of Sports Economists.
  7. Stefan Kesenne, 2000. "Revenue Sharing and Competitive Balance in Professional Team Sports," Journal of Sports Economics, , vol. 1(1), pages 56-65, February.
  8. Chung, Tai-Yeong, 1996. " Rent-Seeking Contest When the Prize Increases with Aggregate Efforts," Public Choice, Springer, vol. 87(1-2), pages 55-66, April.
  9. Wolfgang Leininger, 2003. "On evolutionarily stable behavior in contests," Economics of Governance, Springer, vol. 4(3), pages 177-186, November.
  10. Martin Grossmann & Helmut M. Dietl, 2009. "Investment Behaviour in a Two-Period Contest Model," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 165(3), pages 401-417, September.
  11. Stefan Szymanski, 2003. "The Economic Design of Sporting Contests," Journal of Economic Literature, American Economic Association, vol. 41(4), pages 1137-1187, December.
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