nep-spo 2017-10-15 papers

on Sports and Economics

Issue of 2017‒10‒15
one paper chosen by
João Carlos Correia Leitão
Universidade da Beira Interior

The future development of world records By Franziska K. Kruse; Wolfgang Maennig

By:	Franziska K. Kruse (Chair for Economic Policy, University of Hamburg); Wolfgang Maennig (Chair for Economic Policy, University of Hamburg)
Abstract:	We conduct an innovative analysis of sporting world records by a) using economic instead of sporting determinants and b) by using multivariate stochastic frontier functions. Using data from 48 different disciplines between 1970 and 2014, we show that world records are close to full efficiency and therefore actual athletic frontiers. Forecasts including economic determinants imply that the dynamics of world records largely depend on the dynamics of the frontiers and their driving forces, i.e., socio-economic developments.
Keywords:	World records, productivity growth, stochastic frontier function, technical efficiency
JEL:	C10 C23 C53 L83
Date:	2017–10–05
URL:	http://d.repec.org/n?u=RePEc:hce:wpaper:061&r=spo

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