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The election of a world champion

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  • Langen, Martin
  • Krauskopf, Thomas
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    Abstract

    This paper examines the mechanisms by which a World Champion is chosen in the For-mula One Championship. Furthermore it is analysed whether there is a best method to do this. For this purpose we will discuss the methods used by the Fédération Internationale de l'Automobile (FIA) since the founding of the World Championship in 1950. We show how the election of a method affects the Formula One contest. We then give insight whether there is a best method to select a World Champion or not. We therefore discuss Arrow's Impossible Theorem with respect to this sports contest. Moreover we simulated several seasons and compared different scoring vectors with respect to indicators that might be important for viewer's demand. --

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    File URL: http://econstor.eu/bitstream/10419/51366/1/672458268.pdf
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    Bibliographic Info

    Paper provided by Center of Applied Economic Research Münster (CAWM), University of Münster in its series CAWM Discussion Papers with number 39.

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    Date of creation: 2010
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    Handle: RePEc:zbw:cawmdp:39

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    Related research

    Keywords: Social Choice; Aggregation rules; Ranking; Sport; Formula One;

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    1. David Stadelmann & Reiner Eichenberger, 2008. "Wer ist der beste Formel 1 Fahrer? Eine ökonometrische Talentbewertung," CREMA Working Paper Series 2008-16, Center for Research in Economics, Management and the Arts (CREMA).
    2. Mastromarco, Camilla & Runkel, Marco, 2004. "Rule Changes and Competitive Balance in Formula One Motor Racing," Discussion Papers in Economics 386, University of Munich, Department of Economics.
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