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I ranking internazionali come rimedio alle asimmetrie informative negli sport individuali: il caso del ciclismo professionistico

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  • Davide Tondani
Abstract
Recent studies in information economics demonstrated that asymmetric information existing between market agents induce a lost in efficiency as well as market failures. This paper aims to draw heavily from these theoretical intuitions in order to analyse the individual sports’ environment. The results suggest that the lack of information produces inefficiencies affecting negatively agents welfare, where, agents are sport teams, event promoters and sponsoring firms. By means of a model of signaling, this paper shows that in individual sports, the mechanism of rankings as that introduced in professional tennis or – more recently – in professional cyclism, is able to offset the informative asymmetry about the real abilities of the athlete (agent) and the other actors (principals) of the sport market. In particular, the analysis shows that the signaling mechanism implemented in professional cyclism since 1989 induced a process of convergence of main sponsors on teams supposed to enrol the best cyclists which take part into the main stages and one-day races. L’economia dell’informazione dimostra che in presenza di informazioni asimmetriche tra gli agenti, i mercati tendono a perdere efficienza e a fallire. La stessa teoria, applicata al mondo degli sport individuali, porta a concludere che la carenza informativa produce inefficienze che influenzano il benessere degli agenti di questo particolare mercato: organizzatori di eventi, sponsor, gruppi sportivi. Applicando un modello di signaling, questo articolo mostra come negli sport individuali i ranking di merito, come quelli introdotti nel tennis e più recentemente nel ciclismo professionistico, suppliscono all’asimmetria che intercorre tra l’atleta (agente) e gli altri operatori del mercato sportivo (principali) circa le sue reali abilità sportive. In particolare, si dimostra che il meccanismo di selezione implementato nel ciclismo professionistico a partire dal 1989 ha portato ad un processo di concentrazione degli sponsor con maggiori capacità di investimento pubblicitario sui gruppi sportivi comprendenti atleti con caratteristiche qualitative maggiori e partecipanti al circuito delle competizioni a tappe e in linea più importanti del calendario.

Suggested Citation

  • Davide Tondani, 2005. "I ranking internazionali come rimedio alle asimmetrie informative negli sport individuali: il caso del ciclismo professionistico," Microeconomics 0510003, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpmi:0510003
    Note: Type of Document - pdf; pages: 25. Published on 'Rivista di Diritto ed Economia dello Sport', vol.1, 2005(2)
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mic/papers/0510/0510003.pdf
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    Cited by:

    1. Rebeggiani, Luca & Tondani, David, 2006. "Organisational Forms in Professional Cycling - Efficiency Issues of the UCI Pro Tour," Hannover Economic Papers (HEP) dp-345, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    2. Raul Caruso, 2008. "Il calcio tra mercato, relazioni e coercizione," Rivista di Diritto ed Economia dello Sport, Centro di diritto e business dello Sport, vol. 4(1), pages 71-88, Aprile.
    3. Raul Caruso, 2009. "Crime and Sport Participation in Itay: Evidence from Panel Data Regional Analysis over the Period 1997-2003.\," Working Papers 0904, International Association of Sports Economists;North American Association of Sports Economists.
    4. Marco Di Domizio & Mattia Palombini, 2011. "Competitività orizzontale e verticale nel ciclismo professionistico: alcune riflessioni sul circuito pro tour," Rivista di Diritto ed Economia dello Sport, Centro di diritto e business dello Sport, vol. 6(3), pages 35-54, Febbraio.

    More about this item

    Keywords

    information economics sport signaling ranking asymmetric information;

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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