By Stephan Nüesch
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Extra resources for The Economics of Superstars and Celebrities
In this sense they can be interpreted as incorporating salaries, signing fees, bonuses, potential transfer fees and a remaining producer surplus. And last but not least, the analysis of a unique data set delivers new results. I am able to find empirical evidence for Adler’s superstar theory in professional team sports. Are Outstanding German Soccer Players Rosen or Adler Stars? 4 Hypothesis Both Rosen (1981) and Adler (1985) believe that talent is an important determinant of stardom. However, while in Rosen’s sense superstars necessarily have superior talent, Adler (1985) delivers an explanation which allows for the superstar phenomenon to arise even among equally talented people.
In contrast to the study of Lucifora and Simmons (2003) my firsthand observable talent measures GOALS and ASSISTS are not constructed as per game ratios, because the mere fact of low appearances should not have a positive impact on these performance measures. According to the law of large numbers, starters would have a lower chance to randomly achieve high scores than newcomers if the firsthand observable talent measures were per game ratios. As firsthand observable talent measure for goalkeepers I used OPPGOAL counting the number of opponent’s goals per game of a particular goalkeeper.
3 Stylized Facts on German Soccer German soccer enjoys high popularity. According to a representative survey of the Sportfive-company, 77% of the German population are interested in soccer. 39% of them quote that they cannot even imagine a life without soccer (Sportfive, 2004). 5 billion in the 2004/05 season (Bundesliga, 2006). At the same time, average match attendance in the first Bundesliga increased to 36’900. No other soccer league in Europe attracts more fans at the gate than the first Bundesliga (Jones & Boon, 2005).
The Economics of Superstars and Celebrities by Stephan Nüesch