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

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Author Info

  • 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. 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, vol. 154(3), pages 546-, September.
  2. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
  3. John Fitzgerald & Peter Gottschalk & Robert Moffitt, 1998. "An Analysis of Sample Attrition in Panel Data: The Michigan Panel Study of Income Dynamics," Journal of Human Resources, University of Wisconsin Press, vol. 33(2), pages 251-299.
  4. Benno Torgler & Sascha Schmidt, 2007. "What shapes player performance in soccer? Empirical findings from a panel analysis," Applied Economics, Taylor & Francis Journals, vol. 39(18), pages 2355-2369.
  5. 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.
  6. Benno Torgler & Markus Schaffner & Sascha L. Schmidt & Bruno S.Frey, 2008. "Do Employees Care About Their Relative Position? Behavioural Evidence Focusing on Performance," School of Economics and Finance Discussion Papers and Working Papers Series 231, School of Economics and Finance, Queensland University of Technology, revised 16 Jun 2008.
  7. Idson, T. & Kahane, L.H., 1995. "Team Effects on Compensation : An Application to Salary Determinantion in the National Hokey League," Discussion Papers 1995_14, Columbia University, Department of Economics.
  8. Marie Connolly & Alan Krueger, 2005. "Rockonomics: The Economics of Popular Music," Working Papers 878, Princeton University, Department of Economics, Industrial Relations Section..
  9. David E. Giles, 2005. "Superstardom in the U.S. Popular Music Industry Revisited," Econometrics Working Papers 0511, Department of Economics, University of Victoria.
  10. 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 1, Department of International Economic Policy, University of Freiburg, revised Mar 2008.
  11. Joel Maxcy, 2004. "Motivating long-term employment contracts: risk management in major league baseball," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(2), pages 109-120.
  12. 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.
  13. Charles J. Mullin & Lucia F. Dunn, 2002. "Using Baseball Card Prices to Measure Star Quality and Monopsony," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 620-632, October.
  14. Leif Brandes & Egon Franck & Stephan Nuesch, 2006. "Local Heroes and Superstars - An Empirical Analysis of Star Attraction in German Soccer," Working Papers 0007, University of Zurich, Center for Research in Sports Administration (CRSA), revised 2007.
  15. 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., vol. 20(8), pages 411-427.
  16. W. Crain & Robert Tollison, 2002. "Consumer Choice and the Popular Music Industry: A Test of the Superstar Theory," Empirica, Springer, vol. 29(1), pages 1-9, March.
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Citations

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Cited by:
  1. Egon Franck, 2010. "Private Firm, Public Corporation or Member’s Association Governance Structures in European Football," International Journal of Sport Finance, Fitness Information Technology, vol. 5(2), pages 108-127, May.
  2. Daniel Högele & Sascha L. Schmidt & Benno Torgler, 2012. "The Influence of Superstars on Organizational Identification of External Stakeholders: Empirical Findings from Professional Soccer," CREMA Working Paper Series 2012-18, Center for Research in Economics, Management and the Arts (CREMA).
  3. 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.
  4. Alex Bryson & Giambattista Rossi & Rob Simmons, 2012. "Why Are Migrants Paid More?," CEP Discussion Papers dp1134, Centre for Economic Performance, LSE.
  5. Egon Franck & Stephan NŸesch, 2008. "The Effect of Talent Disparity on Team Performance in Soccer," Working Papers 0021, University of Zurich, Center for Research in Sports Administration (CRSA), revised 2009.
  6. 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.
  7. 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, vol. 35(2), pages 137-161, May.
  8. repec:cen:wpaper:13-54 is not listed on IDEAS
  9. Daniel H. Weinberg, 2013. "Talent Recruitment and Firm Performance: The Business of Major League Sports," Working Papers 13-54r, Center for Economic Studies, U.S. Census Bureau, revised Feb 2014.
  10. 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.
  11. Bernd Frick & Young Lee, 2011. "Temporal variations in technical efficiency: evidence from German soccer," Journal of Productivity Analysis, Springer, vol. 35(1), pages 15-24, February.
  12. Kurt W. Rotthoff & Craig A. Depken, II & Peter A. Groothuis, 2011. "Influences on Sponsorship Deals in NASCAR: Indirect Evidence from Time on Camera," Working Papers 11-07, Department of Economics, Appalachian State University.
  13. Brandes, Leif & Franck, Egon, 2012. "Social preferences or personal career concerns? Field evidence on positive and negative reciprocity in the workplace," Journal of Economic Psychology, Elsevier, vol. 33(5), pages 925-939.
  14. Franck, Egon & Nüesch, Stephan, 2010. "The effect of talent disparity on team productivity in soccer," Journal of Economic Psychology, Elsevier, vol. 31(2), pages 218-229, April.

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