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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/rsd/CRSA_WPS/44_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 0044.

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Length: 18 pages
Date of creation: Oct 2011
Date of revision:
Handle: RePEc:rsd:wpaper:0044

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Related research

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

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References

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  1. Wolfgang Leininger, 2003. "On evolutionarily stable behavior in contests," Economics of Governance, Springer, Springer, vol. 4(3), pages 177-186, November.
  2. Martin Grossmann & Helmut Dietl, 2007. "Investment Behaviour in a Two Period Contest Model," Working Papers, University of Zurich, Institute for Strategy and Business Economics (ISU) 0069, University of Zurich, Institute for Strategy and Business Economics (ISU).
  3. Helmut Dietl & Martin Grossmann & Markus Lang, 2010. "Competitive Balance and Revenue Sharing in Sports Leagues with Utility-Maximizing Teams," Working Papers, International Association of Sports Economists;North American Association of Sports Economists 1006, International Association of Sports Economists;North American Association of Sports Economists.
  4. SZYMANSKI, Stefan & KÉSENNE, Stefan, 2003. "Competitive balance and gate revenue sharing in team sports," Working Papers 2003003, University of Antwerp, Faculty of Applied Economics.
  5. Markus Lang & Martin Grossmann & Philipp Theiler, 2011. "The Sugar Daddy's Game: How Wealthy Investors Change Competition in Professional Team Sports," Working Papers, International Association of Sports Economists;North American Association of Sports Economists 1107, International Association of Sports Economists;North American Association of Sports Economists, revised Mar 2011.
  6. 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, Scottish Economic Society, vol. 55(3), pages 353-368, 07.
  7. KÉSENNE, Stefan, . "Revenue sharing and competitive balance in professional team sports," Working Papers 1999019, University of Antwerp, Faculty of Applied Economics.
  8. Pedro Garcia-del-Barrio & Stefan Szymanski, 2006. "Goal! Profit maximization and win maximization in football leagues," Working Papers, International Association of Sports Economists;North American Association of Sports Economists 0621, International Association of Sports Economists;North American Association of Sports Economists.
  9. Stefan Szymanski, 2003. "The Economic Design of Sporting Contests," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 41(4), pages 1137-1187, December.
  10. Chung, Tai-Yeong, 1996. " Rent-Seeking Contest When the Prize Increases with Aggregate Efforts," Public Choice, Springer, Springer, vol. 87(1-2), pages 55-66, April.
  11. Stefan Kesenne, 2004. "The Win Maximization Model Reconsidered," IASE Conference Papers, International Association of Sports Economists 0410, International Association of Sports Economists.
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