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
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Englisch
- Erschienen in
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Journal: Games ; ISSN: 2073-4336 ; Volume: 10 ; Year: 2019 ; Issue: 2 ; Pages: 1-12 ; Basel: MDPI
- Klassifikation
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Wirtschaft
Cooperative Games
Externalities
Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
- Thema
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indirect evolution
football leagues
utility maximization
profit maximization
evolutionary stability
- Ereignis
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Geistige Schöpfung
- (wer)
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Prinz, Aloys L.
- Ereignis
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Veröffentlichung
- (wer)
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MDPI
- (wo)
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Basel
- (wann)
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2019
- DOI
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doi:10.3390/g10020022
- Handle
- Letzte Aktualisierung
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20.09.2024, 08:23 MESZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Prinz, Aloys L.
- MDPI
Entstanden
- 2019