Profit vs. win maximization in a league: a paradox
Résumé
The paper studies a very simple game-theoretical model of sports competition such as the European football leagues. In this oligopoly-type context, the Cournot-Nash equilibrium reveals a paradoxical differentiation between clubs: those that include not only profit but also sporting performance in their objectives end up generating more profit than others who purely maximize profit.
Domaines
Economies et finances
Origine : Fichiers produits par l'(les) auteur(s)