A model used for successfully predicting Beijing Olympics’ medal wins is adapted to check whether economic variables could be good predictors of soccer World Cup outcomes. Some ‘footballistic’ variables must be added with regard to predicting the outcome of a single sport discipline contest. The model does not perform as well with the soccer World Cup as with the Olympics. This is owing to surprising sporting outcomes, a notion not previously analysed. The chapter elaborates on such notion and suggests a simple metrics, then concludes that economic predictions of sporting performances must be treated with caution.
Wladimir Andreff and Gaël Raballand
Participation and Professional Team Sports
Edited by Wladimir Andreff
The development of sports economics has exploded in recent years, and this well-researched and relevant book explores some of the most critical themes. Contemporary Issues in Sports Economics examines topics that have previously received little attention in the literature, such as the determinants and social impacts of sports participation including the link to crime levels. The distinguished authors also discuss some of the less investigated aspects of professional team sports, including: • sports betting, financing and governance; • the impact of low scoring matches on competitive balance and fan appeal in European football; and • the effect on player transfers of a luxury tax on club payrolls in Major League Baseball.