The Election of a World Champion

Thomas Krauskopf Martin Langen

No 201039, Working Papers from Institute of Spatial and Housing Economics, Munster Universitary

Abstract: This paper examines the mechanisms by which a World Champion is chosen in the For-mula One Championship. Furthermore it is analysed whether there is a best method to do this. For this purpose we will discuss the methods used by the Fédération Internationale de l’Automobile (FIA) since the founding of the World Championship in 1950. We show how the election of a method affects the Formula One contest. We then give insight whether there is a best method to se-lect a World Champion or not. We therefore discuss Arrow’s Impossible Theorem with respect to this sports contest. Moreover we simulated several seasons and compared different scoring vectors with respect to indicators that might be important for viewer’s demand.

Keywords: Social Choice; Aggregation rules; Ranking; Sport; Formula One (search for similar items in EconPapers)
JEL-codes: C63 D71 L83 (search for similar items in EconPapers)
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