megavideolinks
Joined: 19 Nov 2011
Posts: 86
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 Posted: Mon Nov 28, 2011 5:49 am Post subject: The Sugar Daddy's Game: How Wealthy Investors Change Compet |
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Professional sports leagues have witnessed the appearance of so-called "sugar daddies" -
people who invest enormous amounts of money into clubs and become their owners. This paper
presents a contest model of a professional sports league that incorporates this phenomenon. We
analyze how the appearance of a sugar daddy alters competitive balance and social welfare
compared to a league with purely profit-maximizing club owners. We further show that the
welfare effect of revenue sharing in a sugar daddy league is ambiguous and depends on the
degree of redistribution and on whether the sugar daddy invests in a small or large club.
JEL Classification Codes: L83, L2, D43, C72
Keywords: Competitive balance, contest model, social welfare, sports leagues, sugar daddy
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Article de fête
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