Goal! Profit maximization and win maximization in football leagues
Pedro García-del-Barrio, Stefan Szymanski
Abstract
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Pedro García-del-Barrio, Stefan Szymanski
Abstract
Open-access reader
In this paper we estimate the best responses of football clubs to the choices of other clubs in Spanish and English leagues over the period 1994-2004. We find that choices are more closely approximated by win maximization than by profit maximization in both the short term and the long term. We examine club characteristics that might explain variations in choices between Spanish clubs.
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In this paper we estimate the best responses of football clubs to the choices of other clubs in Spanish and English leagues over the period 1994-2004. We find that choices are more closely approximated by win maximization than by profit maximization in both the short term and the long term. We examine club characteristics that might explain variations in choices between Spanish clubs.
Key concepts: League, Profit maximization, Football, Maximization, Club, Profit (economics), Utility maximization, Term (time)