Building Blocks for a Disequilibrium Model of a European Team Sports League

Wladimir Andreff ()
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Wladimir Andreff: University Paris 1

International Journal of Sport Finance, 2014, vol. 9, issue 1, 20-38

Abstract: The paper presents two building blocks for elaborating on a disequilibrium economics model that fits with empirical evidence of a European team sport (soccer) league where teams are win-maximizing and operate under a soft budget constraint. Going beyond the standard equilibrium model justifies the introduction of price rigidity, heterogeneous talent units, and a differentiated economic behavior of clubs’ fans as compared to TV viewers. A European soccer league appears to be an economic regime with repressed inflation, characterized by a double excess demand on both labor and product markets. Step by step, the disequilibrium model is enriched with labor market segmentation between superstars and journeymen players, then a market for televised sport differentiating between free-to-air and pay-per-view TV channels.

Keywords: disequilibrium economics; sports economics; team sport league; win-maximizing; European soccer; price rigidity; soft budget constraint; excess demand (search for similar items in EconPapers)
JEL-codes: L83 (search for similar items in EconPapers)
Date: 2014
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International Journal of Sport Finance is currently edited by Arne Feddersen, Babatunde Buraimo, Joachim Prinz and Jane Ruseski

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