Player Market Research Articles

Overattention to First-Hand Experience in Hiring Decisions: Evidence from Professional Basketball

We provide evidence from the market for NBA basketball players that employers' hiring decisions rely too heavily on first-hand experiences with job candidates. Specifically, we find that employers are biased in favor of acquiring players with better-than-usual performances when the employer’s team was playing or preparing to play the player’s original team. Our estimates imply that performance information receives approximately 1.8 times more weight in hiring decisions if it is conveyed through first-hand experience. According to our simulations, such overattention leads to a 2.3% rate of mismatch between employers and workers.

ФОРМИРОВАНИЕ МОДЕЛИ ЦЕНООБРАЗОВАНИЯ С ИСПОЛЬЗОВАНИЕМ ИНДИВИДУАЛЬНЫХ ХАРАКТЕРИСТИК (НА ПРИМЕРЕ СПОРТИВНЫХ ИНВЕСТИЦИЙ)

The article analyzed various factors that influence the pricing system of players in the management system of a football club. The main problems of the described subject area are identified. First of all, the problems of developing the transfer market of professional players requires studying not only market participants, but also creating a methodology for the initial assessment of the value of players. The current system of pricing for players, which is used in most football clubs, is considered. Its current analysis is carried out, the main directions for potential development are identified. A regression analysis of key factors with the presentation of the mathematical apparatus of the model. An assessment of the results of the obtained correlation coefficients from the point of view of factors affecting the pricing system of players is presented. The main problems of the described subject area are identified. First of all, the problems of developing the transfer market of professional players requires studying not only market participants, but also creating a methodology for the initial assessment of the value of players. It has been established that the influence of sports achievements on the transfer cost decreases with increasing age, and the athlete’s high level of publicity, on the contrary, can significantly increase the price of the contract. A regression model of the main influencing factors is constructed, and correlation coefficients are estimated, which make it possible to analyze the current pricing system for players.

Contestability in the Digital Music Player Market

We test the concept of contestability in the digital music player market. The theory suggests that the threat of new entrants keeps firms’ market power in check. But Baumol and others argue that pure contestable markets rarely happen in reality. The portable music player market has been dominated by one producer. We estimate a quality-adjusted price index from 2002 to 2010. Results show that market prices decline at an average rate of about 20 percent per year, which is similar to other IT products. This provides support for the idea that the market is fairly contestable.

Upward and downward job mobility and player market values in contemporary European professional football

One question facing professional football (soccer) players in today's highly mobile football labor market is how to move between teams and develop boundaryless careers that positively signal their qualities, skills, and value to the market. The author departs from previous researchers, who have conceptualized market values as a function of performance and human capital factors at one point in time. Instead, the author argues that market observers face imperfect information when estimating the value of players, which they overcome by using job mobility as a signal for the qualities, skills, and playing potential of footballers. Analyzing a unique longitudinal dataset of 1670 professional player careers with fixed effects panel regressions, results indicate that upward mobility is a positive signal shifting observers' estimations of player market values up and downward mobility is a negative signal pushing market values down. Each extra move up leads to an additional increase in market values and the negative impact of downward mobility decreases when players take up more important roles in their new team. The impact of mobility on player market values is thus contingent on broader career patterns and the context in which job mobility takes place.

Теория трансакционных издержек: логика возникновения и развития

The questions of why similar transactions can be organised in completely different ways and why some of these transactions do not happen despite their apparent utility are very interesting. Modern economists explain this phenomenon from the point of view of transaction costs and their minimization. The transaction costs theory has come a long way from its inception in Coase’s work to its maturing in Williamson’s work and to its further development in the works of various contemporary scientists. Having started as a marginal idea, it became a successful empirically testable theory that can be used to analyse numerous economic industries ranging from the market for football players to factory process management in the aerospace industry. In this article, we analyse contemporary theoretical and empirical research papers to unveil the development of this theory. We show first how the notion of transaction cost emerged. Its appearance was prompted by the understanding among several scientists that there is a mismatch between theoretical conclusions and the real-life situation. An understanding came that all transactions lead to additional costs that are not directly related to production costs. Thus, an attempt was made to explain these additional costs. We show how the interaction with classical economics influenced the development of the theory, which concepts were abandoned in the struggle to enter the mainstream, and which ideas survived and became indispensable. We describe the opportunities for studying economic activity provided by this theory.

An application of the option-pricing model to the valuation of a football player in the 'Serie A League'

Football is perhaps the most popular sport in the world. The market of football players is one of the most popular factors of the sport that makes the fans dream of each team which increases the interest around the sport. In 2013 the player Gareth Bale was sold from Tottenham to Real Madrid for 100 million Euros. Someone argues that the market for football players is inherently irrational precisely because of the sale price of certain players. This paper is based on Tunaru et al. model that is a real option based model. The aim of the paper is the financial valuation of a goalkeeper of Serie A League club. The model depends on relationship of player's and team's performance and the club's turnover.

Player Market Value and the Stigma of Relegation: Evidence from a Regression Discontinuity

The stigma of organizational failure may prove harmful for the organization's employees and managers, but research has yet to determine when stigma arises in the aftermath of failure. I study the e...

Did UEFA’s financial fair play harm competition in European football leagues?

When introducing UEFA’s Financial Fair Play (FFP) it was argued that as a beneficial side effect competition in European football leagues should become more equilibrated and perceived as being fairer. Based on a hand-collected dataset on league results, player market values as well as investor payments of more than 300 European football clubs, we scrutinize the impact of FFP on the competitive landscape in major European football leagues. By applying a fixed-effect panel regression difference-in-differences approach, we find results that are consistent with the view that FFP might have further amplified the competitive imbalance. This might be caused by the fact that FFP raises some barriers against the entrance of new investors. Moreover, we present evidence that FFP supports the former season’s winner in terms of budget shares in the upcoming season. Overall, our results support the view that FFP turns European football leagues less equilibrated and even tends to freeze current hierarchies.

Human–computer negotiation in a three player market setting

This paper proposes a novel agent-design for a three-player game involving human players and computer agents. The game is analogous to settings in which participants repeatedly negotiate over contracts, such as cell-phones and credit card plans. The game comprises three players, two service providers who compete to sign contracts with a single customer player. The service providers compete to make repeated contract offers to the customer consisting of resource exchanges in the game. Customers can join and leave contracts at will. We computed sub-game perfect equilibrium strategies for all players that were based on making contracts involving commitments between the customer player and one of the service provider players. We conducted extensive empirical studies (spanning over 500 participants) comparing the performance of computer agents using different types of equilibrium strategies with that of people in three different countries, the U.S., Israel and China, that are characterized by cultural differences in how people make contracts in the game. Two human participants played a single computer agent in various role configurations in the game. For the customer role, agents using equilibrium strategies were able to obtain a higher score than people playing the same role in three countries. For the service provider role, agents using equilibrium strategies that reasoned about possibly irrational behavior were able to obtain higher scores than people (as well as agents that did not reason about irrational behavior). This work shows that for particular market settings involving competition between service providers, equilibrium strategies can be a successful design paradigm for computer agents without relying on data driven approaches.

Assessment of the Structure, Conduct, and Performance of the Philippine Telecommunications Industry

Assessment of the Structure, Conduct, and Performance of the Philippine Telecommunications Industry

KEBIJAKAN PENGELOLAN PASAR MODERN PERSPEKTIF HUKUM ISLAM (Studi Terhadap Peraturan Daerah Kota Palangka Raya Nomor 04 Tahun 2007 tentang Pengelolan Pasar Modern)

The Government regulation of Palangkaraya City in the form of Regional Regulation (Perda) Palangkaraya Number 04 Year 2007 on the Management of Modern Market need special attention. This is because the growth of modern markets in Palangkaraya in recent years has increased very high. This is compounded by how modern market participants who dared to operate before the operational permit issued. From the explanation, the purpose of this paper is to analyze how the management of a modern market in Palangkaraya perspective of Islamic law and the impact of regulation (Perda) on the management of the modern market for traditional market players. In order to achieve these objectives maximally, so this study used qualitative descriptive method, with a normative approach. The results indicate that the regulations (Perda) that have been made by the Government City of Palangkaraya is in line with Islamic law based on the concept of the rule on the basis of fiqh with benefit. Nevertheless, it needs to be replicated again in several articles, because it is irrelevant to the economic conditions in the Palangkaraya City particularly. In addition, it also shows the adverse implications for the existence of traditional markets.

An application of the option-pricing model to the valuation of football player in the Serie A League

Football is perhaps the most popular sport in the world. The market of football players is one of the most popular factors of the sport that makes the fans dream of each team which increases the interest around the sport. In 2013 the player Gareth Bale was sold from Tottenham to Real Madrid for 100 million Euros. Someone argues that the market for football players is inherently irrational precisely because of the sale price of certain players. This paper is based on Tunaru et al. model that is a real option based model. The aim of the paper is the financial valuation of a goalkeeper of Serie A League club. The model depends on relationship of player's and team's performance and the club's turnover.

Compensation Discrimination: An Analysis of Linebackers, Defensive Linemen, and Defensive Backs in the National Football League

Previous studies have analyzed compensation discrimination in the National Football League with mixed results. We examine the market for defensive players: defensive linemen, linebackers, and defensive backs and find some evidence of discrimination against Black linebackers. We do not find any evidence of discrimination against Black defensive linemen and defensive backs. Our results provide some support for the hypothesis that employers, employees, or customers discriminate against Black linebackers due to prejudice against Black players who have to make decisions that play a major role in the success of the entire defense.

An application of PART to the Football Manager data for players clusters analyses to inform club team formation

We aim to show how a neural network based machine learning projective clustering algorithm, Projective Adaptive Resonance Theory (PART), can be effectively used to provide data-informed sports decisions. We illustrate this data-driven decision recommendation for AS Roma player market in the Summer 2018 season, using the two separate databases of fourty-seven attributes taken from Football Manager 2018 for each of the twenty-four soccer player, with the first including players of the AS Roma squad 2017-18, and the second consisting of all players linked with transfer moves to AS Roma. This is high dimensional data as players should be grouped only in terms of their performance with respect to a small subset of attributes. Projective clustering analyses provide a purely data-driven analysis to identify critical attributes and attribute characteristics for a group of players to form a natural cluster (in lower dimensional data space) in an unsupervised way. By merging the two databases, our unsupervised clustering analysis provides evidence-based recommendations about the club team formation, and in particular, the decision to buy and sell players within the same clusters, under different scenarios including financial constraints.

Paying in 2025: Scenarios for payment systems in Germany in 2025

The world of electronic payments is changing at a tremendous speed. New payment systems are being established, new actors are entering the playing field, and the expectations of customers are increasing. The change of purchasing channels and the digitalisation of business processes are having a strong impact on the requirements for payments. Competition in the payments sector is becoming fiercer, also due to the regulatory interventions that are opening the market for new players and innovative technologies. What is the upshot of this? Fundamental changes are to be expected — on the level of payment instruments, on the level of the underlying technical infrastructure, and with regard to the functioning of the entire ecosystem ‘payments’. This paper summarises the results of a study on the possible developments within the payments sector over the next decade in Germany. The study was conducted by SRC Security Research & Consulting with the support of Fraunhofer INT and Z-Punkt, The Foresight Company.

Тенденции развития сферы питания в туристско-рекреационном комплексе Краснодарского края

This article describes the specifics of enterprises functioning of tourist-recreational complex, which includes food service companies of Krasnodar Krai. The authors analyze and illustrate by the examples the main trends in the food industry of the region, the most promising among which are: healthy eating growth in popularity, increasing the interest of the population in the national cuisine, more precise positioning of enterprises in their market segments, development of market of corporate food companies through extending the range of catering services. 
 The authors place greater focus on the need to diversify the catering services, taking into account the variety of forms of customer service, enterprise-type specificity, accounting the subjectivity of assess of service quality that in totality defines the market strategy. The authors define the specific feature of the regional restaurant business, which is based mainly on the small business, but at the same time tends towards consolidation of enterprises and the creation of restaurant chains.
 Coordination of enterprise activities with educational institutions and training centers for the address training of the contact personnel and improving the quality of service in the field is the one of the key factors of optimization of. food services development in Krasnodar Krai. The appearance on the market of new players from other types of businesses intensifies competition, which has a positive impact on the industry development as a whole, and contributes to increasing the indicators of service quality and makes them closer to the world standards.

Evaluation of LIC in Post Liberalised Era

The constitution of IRDA in August, 2000, opened up the market for private players in the insurance sector. In spite of privatization, the public sector giant, Life Insurance Corporation of India (LIC) has been still dominating the domestic insurance market. The paper reviews secondary study conducted to narrate ongoing debates on the privatization and globalization of insurance sector. Then, a comparative analysis of pattern of growth of life insurance industry comprising of LIC and other private players has been carried out. The paper finds that after over 40 years of successful journey, LIC still holds the dominant position while private players also gain grounds. However, though Indian Insurance sector has a huge potentiality, penetration of life insurance in Indian society is still limited as evident by various indicators. Moreover, LIC once having monopoly in this sector, is losing out to its private competitors. Unless strategic issues such as diversification of products, changing demography, demand for pensions, and allowing greater freedom with respect to its investments are addressed, LIC may find it difficult to adapt to liberalized scenario. The present study is an endeavor to evaluate the growth of LIC of India in the competitive scenario of liberalized and globalized insurance sector.

Investor Presence and Competition in Major European Football Leagues

Amongst others, it was claimed that UEFA’s Financial Fair Play (FFP) will level the playing field in European soccer leagues making competition more equilibrated and perceived as being fairer. Based on a hand-collected dataset on league results, player market values as well as investor payments of more than 300 European football clubs, we scrutinize the impact of FFP on the competitive landscape in major European soccer leagues. By applying a fixed-effect panel regression difference-in-difference approach we come up with results suggesting that FFP has further amplified competitive imbalance. This might be caused by the fact that FFP raises some barriers against the entrance of new investors. Moreover, we present evidence that FFP supports the former season’s winner in terms of budget shares in the upcoming season. Overall, our results corroborate the criticism that FFP does not make European soccer leagues more equilibrated and even tends to freeze current hierarchies.

The role of online buzz for leader versus challenger brands: the case of the MP3 player market

Online buzz reflects the perceived quality of products in a positive, negative, or neutral way. We have limited understanding of how customers' quality perceptions, often referred to as e-sentiment, affect the movement of prices. In this paper, we examine the effect of e-sentiment on the daily price fluctuations of MP3 players by using daily buzz information collected from diverse online documents. Econometric panel data modeling reveals that e-sentiment is a leading indicator of price fluctuations. Furthermore, we find the effect is moderated by the brand's market position: the leading (challenger) brand's price responds more strongly to negative (positive) online buzz. In other words, negative buzz has a greater adverse effect on leading brands, whereas positive buzz has a greater beneficial effect on challenger brands. These findings establish the relevance of e-sentiment information to online price movements and suggest that managers should frequently monitor the online buzz surrounding their products, especially as it relates to their relative perceived quality.

Contestability in the Digital Music Player Market

We test the concept of contestability in the digital music player market. The theory suggests that the threat of new entrants keeps firms' market power in check. But Baumol and others argue that pure contestable markets rarely happen in reality. The portable music player market has been dominated by one producer. We estimate a quality-adjusted price index from 2002 to 2010. Results show that market prices decline at an average rate of about 20 percent per year, which is similar to other IT products. This provides support for the idea that the market is fairly contestable.