nep-spo New Economics Papers
on Sports and Economics
Issue of 2016‒08‒07
four papers chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

  1. Economía, gestión y fútbol: de la pasión a la sostenibilidad financiera By Mesa Callejas, Ramón Javier; Osorio Agudelo, Jair Albeiro; Castaño Rios, Carlos Eduardo
  2. Decision-Making under the Gambler's Fallacy: Evidence from Asylum Judges, Loan Officers, and Baseball Umpires By Chen, Daniel L.; Moskowitz, Tobias; Shue, Kelly
  3. Without my Medal on my Mind: Counterfactual Thinking and Other Determinants of Athlete Emotions By Laura Kudrna; Georgios Kavetsos; Chloe Foy; Paul Dolan
  4. The Host with the Most? The Effects of the Olympic Games on Happiness By Paul Dolan; Georgios Kavetsos; Christian Krekel; Dimitris Mavridis; Robert Metcalfe; Claudia Senik; Stefan Szymanski; Nicolas R. Ziebarth

  1. By: Mesa Callejas, Ramón Javier; Osorio Agudelo, Jair Albeiro; Castaño Rios, Carlos Eduardo
    Abstract: The phenomenon of football is a sport that captivates masses throughout the world, it is definitely a whole passion, where love for a shirt or colors of a football team, in many cases, exceed the rationality of financial management it is clear from his administration. Evidence on financial and accounting results of the top leagues in Europe in recent years, characterized by negative imbalances and high debt levels, seem to prove the above hypothesis. In this paper, some reflections on the relationship between football and economy within the framework of business management from a financial perspective and business management are presented. It is concluded that it is imperative to professionalize the financial management of football clubs from strategies associated with a proper assessment of sports projects, the distribution of resources in times of crisis and financial planning in terms of financial balance El fenómeno del fútbol es una actividad deportiva que cautiva masas a lo largo y ancho del planeta, es definitivamente toda una pasión, donde el amor por una camiseta o los colores de un equipo de futbol, en muchos casos, superan la racionalidad del manejo financiero que se desprende de su administración. La evidencia sobre los resultados financieros y contables de las principales ligas en Europa en los últimos años, caracterizados por los desequilibrios negativos y los altos volúmenes de endeudamiento, parecen comprobar la hipótesis anterior. En este trabajo, se presentan algunas reflexiones sobre la relación entre el fútbol y la economía, en el marco de la gestión empresarial desde la perspectiva financiera y de gestión de negocio. Se concluye que es imperante profesionalizar la gestión financiera de los clubes de fútbol a partir de estrategias asociadas con una adecuada valoración de los proyectos deportivos, la distribución de recursos en épocas de crisis y la planeación financiera en términos del equilibrio financiero.
    Keywords: clubes de fútbol, economía del deporte, economía del futbol, gestión financiera de clubes de futbol
    JEL: B4 E01 L83
    Date: 2015–05–01
  2. By: Chen, Daniel L.; Moskowitz, Tobias; Shue, Kelly
    Date: 2016–07
  3. By: Laura Kudrna; Georgios Kavetsos; Chloe Foy; Paul Dolan
    Abstract: How achievement makes people feel depends upon counterfactual thoughts about what could have been. One body of evidence for this comes from studies of observer ratings of Olympians’ happiness, which suggests that category-based counterfactual thoughts affect the perceived happiness of Olympians. Silver medallists are less happy than bronze medallists, arguably because silver medallists think about how they could have won gold, and bronze medallists feel lucky to be on the podium at all. We contribute to this literature by showing that the effect of category-based counterfactual thoughts on Olympians’ happiness depends on the margin by which athletes secured their medal. Although gold and bronze medallists appeared happier the better they performed, silver medallists were less happy when they were closer to winning gold. This suggests silver medallists feel disappointed relative to gold medallists but that bronzes do not feel particularly fortunate relative to non-medal winners. Teams were rated as happier than individual athletes and Olympians happier than Paralympians. Observers’ ethnic and gender similarity to athletes negatively influence happiness ratings; whilst observers’ self-reported happiness has a negligible effect on ratings. We integrate these findings with prior literature on counterfactual thinking and the determinants of happiness, and suggest avenues for future research.
    Keywords: Counterfactual thinking, Close calls, Relative status, Happiness, Olympic Games
    JEL: D60 I31
    Date: 2016–07
  4. By: Paul Dolan; Georgios Kavetsos; Christian Krekel; Dimitris Mavridis; Robert Metcalfe; Claudia Senik; Stefan Szymanski; Nicolas R. Ziebarth
    Abstract: We show that hosting the Olympic Games in 2012 had a positive impact on the life satisfaction and happiness of Londoners during the Games, compared to residents of Paris and Berlin. Notwithstanding issues of causal inference, the magnitude of the effects is equivalent to moving from the bottom to the fourth income decile. But they do not last very long: the effects are gone within a year. These conclusions are based on a novel panel survey of 26,000 individuals who were interviewed during the summers of 2011, 2012, and 2013, i.e. before, during, and after the event. The results are robust to selection into the survey and to the number of medals won.
    Keywords: subjective wellbeing, life satisfaction, happiness, Olympic Games, natural experiment
    JEL: I30 I31 I38 L83 Z20 Z28
    Date: 2016–07

This nep-spo issue is ©2016 by João Carlos Correia Leitão. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.