ABSTRACT

We develop a model based on sports viewer with either uncertainty of outcome hypothesis (UOH) or loss aversion and investigate the level of loss aversion on the effect of league competition balance and team profit. We obtained the following two major results. Firstly, we showed that cases, where the spectators have loss aversion, have better league competition balance than cases when UOH applies. Moreover, we clarified that cases, where the preference for winning is different between the teams, have a poorer league competition balance. Secondly, it became clear that there is greater profit for both teams in cases where the spectators have loss aversion compared to cases where UOH is applied. Moreover, we showed that in cases where spectators have loss aversion, teams with a relatively strong preference for winning have greater profits, but for spectators where UOH is applied, teams with a relatively weaker preference for winning obtain greater profit.

摘要

我们开发了一个基于结果不确定性假设 (UOH) 或损失厌恶的体育观众模型，并研究损失厌恶程度对联赛比赛平衡和球队利润的影响。我们获得了以下两个主要结果。首先，我们展示了观众厌恶损失的情况比使用 UOH 的情况具有更好的联赛竞争平衡。此外，我们澄清了球队之间对获胜的偏好不同的情况下，联赛的竞争平衡会更差。其次，很明显，与使用 UOH 的情况相比，在观众厌恶损失的情况下，两支球队都有更大的利润。此外，我们发现，在观众厌恶损失的情况下，对获胜偏好相对较强的球队可以获得更大的利润，