The (monetary) value of competitive balance for sport consumers: A stated preferences approach to European professional football
Ever since the pioneering work of Rottenberg (1956) and Neale (1964), the uncertainty of outcome hypothesis (UOH) has played a major role in the economic analysis of professional sport leagues. However, decades f empirical research have not been successful in establishing clear evidence for the importance of competitive balance (CB) for attendance or TV viewers in European professional football. In order to find possible reasons for the gap between the UOH and (the lack of) its empirical validation, our paper adopts a stated preference approach focused on the fans' perception of CB and its relevance in three European professional football leagues. The results indicate that a tipping point/threshold value of CB exists and that crossing this threshold can lead to massive demand eactions. However, since the threshold has not been reached in the leagues included in the sample, the paper provides a possible explanation for the above mentioned gap.
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- Brad R. Humphreys, 2002. "Alternative Measures of Competitive Balance in Sports Leagues," Journal of Sports Economics, , vol. 3(2), pages 133-148, May.
- Tim Pawlowski, 2013. "Testing the Uncertainty of Outcome Hypothesis in European Professional Football," Journal of Sports Economics, , vol. 14(4), pages 341-367, August.
- Georg Stadtmann & Dirk Czarnitzki, 2002.
"Uncertainty of outcome versus reputation: Empirical evidence for the First German Football Division,"
Springer, vol. 27(1), pages 101-112.
- Czarnitzki, Dirk & Stadtmann, Georg, 1999. "Uncertainty of outcome versus reputation: empirical evidence for the First German Football Division," ZEW Discussion Papers 99-46, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Zou, Ning Ning (Helen) & Hobbs, Jill E., 2006. "Modelling functional food choice and health care impacts: A literature review," Consumer and Market Demand Network Papers 91556, University of Alberta, Department of Resource Economics and Environmental Sociology.
- Simon Rottenberg, 1956. "The Baseball Players' Labor Market," Journal of Political Economy, University of Chicago Press, vol. 64, pages 242.
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