Artikel

Indirect evolution and aggregate-taking behavior in a football league: Utility maximization, profit maximization, and success

An evolutionary model of European football was applied to analyze a two-stage indirect evolution game in which teams choose their utility function in the first stage, and their optimal talent investments in the second stage. Given the second-stage optimal aggregate-taking strategy (ATS) of talent investment, it was shown that teams may choose a mix of profit or win maximization as their objective, where the former is of considerably higher relevance with linear weights for profits, and is more successful in the utility function. With linear weights for profit and win maximization, maximizing profits is the only evolutionarily stable strategy (ESS) of teams. The results change if quadratic weights for profits and wins are employed. With increasing talent productivity, win maximization dominates in the static and in the dynamic versions of the model. As a consequence, it is an open question whether the commercialization of football (and other sports) leagues will lead to more profit or win maximization.

Sprache
Englisch

Erschienen in
Journal: Games ; ISSN: 2073-4336 ; Volume: 10 ; Year: 2019 ; Issue: 2 ; Pages: 1-12 ; Basel: MDPI

Klassifikation
Wirtschaft
Cooperative Games
Externalities
Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
Thema
indirect evolution
football leagues
utility maximization
profit maximization
evolutionary stability

Ereignis
Geistige Schöpfung
(wer)
Prinz, Aloys L.
Ereignis
Veröffentlichung
(wer)
MDPI
(wo)
Basel
(wann)
2019

DOI
doi:10.3390/g10020022
Handle
Letzte Aktualisierung
20.09.2024, 08:23 MESZ

Datenpartner

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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Prinz, Aloys L.
  • MDPI

Entstanden

  • 2019

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