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Pay and Performance in Professional Road Racing: The Case of City Marathons

Author

Listed:
  • Bernd Frick

    () (Witten/Herdecke University)

  • Joachim Prinz

    (Witten/Herdecke University)

Abstract

In a world of asymmetric information and non-trivial monitoring costs, the design and implementation of a compensation and reward system that maximizes the individual athlete’s performance is one of the critical variables affecting the reputation of a specific sports event. Assuming that the relationship between a race organizer and a professional runner can be characterized as a principal agent-relationship, we use detailed data from 57 city marathons to test various hypotheses derived from tournament theory. Controlling for a large number of other possible determinants of race quality, we find that the level of the prize money as well as its distribution influence the participants’ performance in the predicted way. When examined in more detail, however, the incentive effects diminish.

Suggested Citation

  • Bernd Frick & Joachim Prinz, 2007. "Pay and Performance in Professional Road Racing: The Case of City Marathons," International Journal of Sport Finance, Fitness Information Technology, vol. 2(1), pages 25-35, February.
  • Handle: RePEc:jsf:intjsf:v:2:y:2007:i:1:p:25-35
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    Citations

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    Cited by:

    1. repec:bla:ecinqu:v:55:y:2017:i:4:p:1759-1770 is not listed on IDEAS
    2. Wicker, Pamela & Prinz, Joachim & von Hanau, Tassilo, 2012. "Estimating the value of national sporting success," Sport Management Review, Elsevier, vol. 15(2), pages 200-210.
    3. repec:eee:jobhdp:v:142:y:2017:i:c:p:1-11 is not listed on IDEAS
    4. Dennis Coates & Petr Parshakov, 2016. "Team Vs. Individual Tournaments: Evidence From Prize Structure In Esports," HSE Working papers WP BRP 138/EC/2016, National Research University Higher School of Economics.

    More about this item

    Keywords

    tournaments; incentives; effort; pay-performance-relationship;

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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