Measuring competitive balance in Formula One Racing

Oliver Budzinski and Arne Feddersen

No 121, Ilmenau Economics Discussion Papers from Ilmenau University of Technology, Institute of Economics

Abstract: The Formula One Championship (F1) is one of the biggest sports businesses in the world. But, however, it seems to astonish that only very few scholarly articles analyze the F1 business. The aim of this study is to contribute to closing two gaps in the existing literature: it contributes (1) to the (sports) economic analysis of the F1 business and (2) to the literature on competitive balance in non-team sports. Like competitive balance in team sport leagues, also for F1 racing three dimensions can be distinguished: (a) race-specific competitive balance, (b) within-season competitive balance, and (c) between-season competitive balance. In addition to classical tools and data, some new and F1 specific indicators, like average lead changes or leading distance, are employed. Also, pitfalls induced especially by the used data source or calculation method are highlighted.

Keywords: Formula One Motor Racing; competitive balance; empirical industry study; sports economics (search for similar items in EconPapers)
JEL-codes: C01 L13 L83 M21 Z20 Z21 (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-bec, nep-cul, nep-ind and nep-spo
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https://www.econstor.eu/bitstream/10419/195190/1/1662796994.pdf (application/pdf)

Related works:
Chapter: Measuring competitive balance in Formula One racing (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:tuiedp:121

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