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Talent and/or Popularity - What Does it Take to Be a Superstar

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  • Egon Franck

    ()

  • Stephan Nüesch

    ()
    (Institute for Strategy and Business Economics, University of Zurich
    Institute for Strategy and Business Economics, University of Zurich)

Abstract

We show that both talent and popularity significantly contribute to stars’ market values in German soccer. The talent-versus-popularity controversy on the sources of stardom goes back to Rosen (1981) and Adler (1985). All attempts to resolve the controversy empirically face the difficulty of accurately identifying talent. In professional sports, rank-order tournaments help in ascertaining talent. Analyzing a team production setting, we make use of a large number of performance indicators to estimate a player’s talent according to his contribution to the team’s winning chances.

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File URL: http://repec.business.uzh.ch/RePEc/rsd/CRSA_WPS/18_CRSA_full.pdf
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Bibliographic Info

Paper provided by University of Zurich, Center for Research in Sports Administration (CRSA) in its series Working Papers with number 0018.

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Length: 47
Date of creation: 2007
Date of revision:
Handle: RePEc:rsd:wpaper:0018

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Keywords: superstars; soccer; talent; popularity;

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References

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  1. John Fitzgerald & Peter Gottschalk & Robert Moffitt, 1997. "An Analysis of Sample Attrition in Panel Data: The Michigan Panel Study of Income Dynamics," Boston College Working Papers in Economics, Boston College Department of Economics 394, Boston College Department of Economics.
  2. Leif Brandes & Egon Franck & Stephan Nuesch, 2006. "Local Heroes and Superstars - An Empirical Analysis of Star Attraction in German Soccer," Working Papers, University of Zurich, Institute for Strategy and Business Economics (ISU) 0046, University of Zurich, Institute for Strategy and Business Economics (ISU), revised 2007.
  3. W. Crain & Robert Tollison, 2002. "Consumer Choice and the Popular Music Industry: A Test of the Superstar Theory," Empirica, Springer, Springer, vol. 29(1), pages 1-9, March.
  4. Lex Borghans & Loek Groot, 1998. "Superstardom and Monopolistic Power: Why Media Stars Earn More Than Their Marginal Contribution to Welfare," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, Mohr Siebeck, Tübingen, vol. 154(3), pages 546-, September.
  5. Idson, T. & Kahane, L.H., 1995. "Team Effects on Compensation : An Application to Salary Determinantion in the National Hokey League," Discussion Papers, Columbia University, Department of Economics 1995_14, Columbia University, Department of Economics.
  6. Blass, Asher A, 1992. "Does the Baseball Labor Market Contradict the Human Capital Model of Investment?," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 261-68, May.
  7. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
  8. Connolly, Marie & Krueger, Alan B., 2006. "Rockonomics: The Economics of Popular Music," Handbook of the Economics of Art and Culture, Elsevier, Elsevier.
  9. Orazio P. Attanasio & Lucio Picci & Antonello E. Scorcu, 2000. "Saving, Growth, and Investment: A Macroeconomic Analysis Using a Panel of Countries," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 182-211, May.
  10. Benno Torgler & Markus Schaffner & Sascha L. Schmidt & Bruno S. Frey, 2008. "Do Employees Care about their Relative Position? Behavioural Evidence Focusing on Performance," CREMA Working Paper Series, Center for Research in Economics, Management and the Arts (CREMA) 2008-12, Center for Research in Economics, Management and the Arts (CREMA).
  11. Charles J. Mullin & Lucia F. Dunn, 2002. "Using Baseball Card Prices to Measure Star Quality and Monopsony," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 40(4), pages 620-632, October.
  12. Benno Torgler & Sascha Schmidt, 2005. "What Shapes Players? Performance in Soccer? Empirical Findings from a Panel Analysis," CREMA Working Paper Series, Center for Research in Economics, Management and the Arts (CREMA) 2005-25, Center for Research in Economics, Management and the Arts (CREMA), revised Jan 2006.
  13. David E. Giles, 2005. "Superstardom in the U.S. Popular Music Industry Revisited," Econometrics Working Papers, Department of Economics, University of Victoria 0511, Department of Economics, University of Victoria.
  14. Erik E. Lehmann & Günther G. Schulze, 2007. "What does it take to be a star? The role of performance and the media for German soccer players," Discussion Paper Series, Department of International Economic Policy, University of Freiburg 1, Department of International Economic Policy, University of Freiburg, revised Mar 2008.
  15. Joel Maxcy, 2004. "Motivating long-term employment contracts: risk management in major league baseball," Managerial and Decision Economics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 25(2), pages 109-120.
  16. David J. Berri, 1999. "Who is 'most valuable'? Measuring the player's production of wins in the National Basketball Association," Managerial and Decision Economics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 20(8), pages 411-427.
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Citations

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Cited by:
  1. Nela Filimon & Jordi López-Sintas & Carlos Padrós-Reig, 2011. "A test of Rosen’s and Adler’s theories of superstars," Journal of Cultural Economics, Springer, Springer, vol. 35(2), pages 137-161, May.
  2. Daniel Hogele & Sascha L. Schmidt & Benno Torgler, 2012. "The Influence of Superstars on Organizational Identification of External Stakeholders: Empirical Findings from Professional Soccer," School of Economics and Finance Discussion Papers and Working Papers Series, School of Economics and Finance, Queensland University of Technology 294, School of Economics and Finance, Queensland University of Technology.
  3. Egon Franck, . "Private Firm, Public Corporation or Member`s Association – Governance Structures in European Football," Working Papers, University of Zurich, Institute for Strategy and Business Economics (ISU) 0106, University of Zurich, Institute for Strategy and Business Economics (ISU).
  4. Franck, Egon & Nüesch, Stephan, 2010. "The effect of talent disparity on team productivity in soccer," Journal of Economic Psychology, Elsevier, Elsevier, vol. 31(2), pages 218-229, April.
  5. Lutter, Mark, 2012. "Soziale Strukturen des Erfolgs: Winner-take-all-Prozesse in der Kreativwirtschaft," MPIfG Discussion Paper 12/7, Max Planck Institute for the Study of Societies.
  6. repec:cen:wpaper:13-54 is not listed on IDEAS
  7. Kiefer, Stephanie & Scharfenkamp, Katrin, 2012. "The impact of physical attractiveness on the popularity of female tennis players in online media," Discussion Papers of the Institute for Organisational Economics 6/2012, University of Münster, Institute for Organisational Economics.
  8. Daniel H. Weinberg, 2013. "Talent Recruitment and Firm Performance: The Business of Major League Sports," Working Papers, Center for Economic Studies, U.S. Census Bureau 13-54r, Center for Economic Studies, U.S. Census Bureau, revised Feb 2014.
  9. Leif Brandes & Egon Franck, . "Social Preferences or Personal Career Concerns? Field Evidence on Positive and Negative Reciprocity in the Workplace," Working Papers, University of Zurich, Institute for Strategy and Business Economics (ISU) 0134, University of Zurich, Institute for Strategy and Business Economics (ISU).
  10. Egon Franck & Stephan NŸesch, 2008. "The Effect of Talent Disparity on Team Performance in Soccer," Working Papers, University of Zurich, Institute for Strategy and Business Economics (ISU) 0087, University of Zurich, Institute for Strategy and Business Economics (ISU), revised 2009.
  11. Kurt William Rotthoff & Craig A. Depken & Peter A. Groothuis, 2014. "Influences on sponsorship deals in NASCAR: indirect evidence from time on camera," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 46(19), pages 2277-2289, July.
  12. Alex Bryson & Giambattista Rossi & Rob Simmons, 2012. "Why Are Migrants Paid More?," CEP Discussion Papers, Centre for Economic Performance, LSE dp1134, Centre for Economic Performance, LSE.
  13. Bernd Frick & Young Lee, 2011. "Temporal variations in technical efficiency: evidence from German soccer," Journal of Productivity Analysis, Springer, Springer, vol. 35(1), pages 15-24, February.
  14. Kiefer, Stephanie, 2012. "The impact of the Euro 2012 on popularity and market value of football players," Discussion Papers of the Institute for Organisational Economics 11/2012, University of Münster, Institute for Organisational Economics.

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