Measuring Competitive Balance in Formula One Racing

30 Pages Posted: 19 Apr 2019

See all articles by Oliver Budzinski

Oliver Budzinski

Ilmenau University of Technology

Arne Feddersen

University of Southern Denmark - Department of Environmental and Business Economics

Date Written: March 16, 2019

Abstract

The Formula One Championship (F1) is one of the biggest sports businesses in the world. But, however, it seems to astonish that only very few scholarly articles analyze the F1 business. The aim of this study is to contribute to closing two gaps in the existing literature: it contributes (1) to the (sports) economic analysis of the F1 business and (2) to the literature on competitive balance in non-team sports. Like competitive balance in team sport leagues, also for F1 racing three dimensions can be distinguished: (a) race-specific competitive balance, (b) within-season competitive balance, and (c) between-season competitive balance. In addition to classical tools and data, some new and F1 specific indicators, like average lead changes or leading distance, are employed. Also, pitfalls induced especially by the used data source or calculation method are highlighted.

Keywords: Formula One Motor Racing, competitive balance, empirical industry study, sports economics

JEL Classification: Z20, Z21, L83, C01, L13, M21

Suggested Citation

Budzinski, Oliver and Feddersen, Arne, Measuring Competitive Balance in Formula One Racing (March 16, 2019). Available at SSRN: https://ssrn.com/abstract=3357687 or http://dx.doi.org/10.2139/ssrn.3357687

Oliver Budzinski (Contact Author)

Ilmenau University of Technology ( email )

Ilmenau, D-98684
Germany

HOME PAGE: http://www.tu-ilmenau.de/wth

Arne Feddersen

University of Southern Denmark - Department of Environmental and Business Economics ( email )

DK-5230 Odense
Denmark

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