Upsets

Evan Osborne

Journal of Sports Economics, 2012, vol. 13, issue 3, 314-320

Abstract: The article models the upset—a low-probability outcome of a periodic competition. It is assumed that the upset is an independent component of consumer preferences, whose marginal willingness to pay grows with time. The decision rule for a league on upset timing is a competitive-balance problem but is unlike standard models of competitive balance. Upset timing is likened partially to the optimal redemption time of a growing asset, and implications for competitive balance in this environment are derived.

Keywords: upsets; competitive balance; sports demand; duration model (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:13:y:2012:i:3:p:314-320

DOI: 10.1177/1527002511416562

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