Search results for "uncertainty of outcome hypothesis"
showing 2 items of 2 documents
Economics of Esports
2019
In this paper, esports market development is exhibited and analyzed through various data sources and literature review. Additionally, economic concepts are applied to the esports environment. Demand characteristics of this emerging market are analyzed by applying the concept of competitive balance as commonly used in economics of sport scrutiny. The elite esports demand is proxied by gathering data on total prize money in the elite esports tournaments and explaining the esports demand by testing various factors measuring the competitive market properties. The most commonly used measurement in economics of sport for measuring withinseason competitive balance is calculated as the actual stand…
Football match attendance in Finland
2022
Football fans prefer to see their favourite team win in close matches. Compared to other forms of entertainment, the outcome of sport game is unknown beforehand. Opera audience knows the plot in advance, but in football the winner is revealed only after 90 minutes. The scientific literature of modern sport economics demand theory implies that successful leagues must be based on relatively even competition. This degree of parity within a league is labelled as competitive balance. Sport leagues usually claim that outcome uncertainty is necessary to maintain interest among fans. In this paper, uncertainty of outcome hypothesis is tested applying football data from the highest tier in Finnish m…