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Building Blocks for a Disequilibrium Model of a European Team Sports League

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  • Wladimir Andreff

    (University Paris 1)

Abstract

The paper presents two building blocks for elaborating on a disequilibrium economics model that fits with empirical evidence of a European team sport (soccer) league where teams are win-maximizing and operate under a soft budget constraint. Going beyond the standard equilibrium model justifies the introduction of price rigidity, heterogeneous talent units, and a differentiated economic behavior of clubs’ fans as compared to TV viewers. A European soccer league appears to be an economic regime with repressed inflation, characterized by a double excess demand on both labor and product markets. Step by step, the disequilibrium model is enriched with labor market segmentation between superstars and journeymen players, then a market for televised sport differentiating between free-to-air and pay-per-view TV channels.

Suggested Citation

  • Wladimir Andreff, 2014. "Building Blocks for a Disequilibrium Model of a European Team Sports League," International Journal of Sport Finance, Fitness Information Technology, vol. 9(1), pages 20-38, February.
    • Handle: RePEc:jsf:intjsf:v:9:y:2014:i:1:p:20-38
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    More about this item

    Keywords

    disequilibrium economics; sports economics; team sport league; win-maximizing; European soccer; price rigidity; soft budget constraint; excess demand;
    All these keywords.

    JEL classification:

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

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