3 MODELS OF PROFESSIONAL TEAM SPORT
Different models of a sports league have been proposed in academic discourse. Madden (2011) suggests a “strategic market game” (SMG) approach to modelling strategic interactions between clubs and generalising the basic league framework in much of the previous literature to allow variable talent supply and club revenues that depend on absolute and relative team qualities. Following this, Winfree and Fort (2012) offer a general model in response to some of the literature cited above linked to competitive balance (CB). Their model expands dimensions to include Nash conjectures for both open and closed leagues and the explicit presence of investment in talent, without functional ...
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