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Rule Changes and Competitive Balance in Formula One Motor Racing

[journal article]

Mastromarco, Camilla
Runkel, Marco

Abstract

This paper provides an economic explanation of the frequent rule changes in the Formula One (F1) motor racing series. In a two-stage model, the FIA (as the organizer of the F1) first decides whether to change the rules or not, and then the racing teams compete in a contest. It turns out that a rule ... view more

This paper provides an economic explanation of the frequent rule changes in the Formula One (F1) motor racing series. In a two-stage model, the FIA (as the organizer of the F1) first decides whether to change the rules or not, and then the racing teams compete in a contest. It turns out that a rule change reduces the teamsâ ™ performances, but also improves competitive balance between the teams. The rule change is implemented, if the FIAâ ™s revenue gain from the latter effect overcompensates the FIAâ ™s revenue loss from the former effect. We provide empirical evidence from F1 seasons in the period 1950-2005 which supports the main implications of the model.... view less

Document language
English

Publication Year
2009

Page/Pages
p. 3003-3014

Journal
Applied Economics, 41 (2009) 23

DOI
https://doi.org/10.1080/00036840701349182

Status
Postprint; peer reviewed

Licence
PEER Licence Agreement (applicable only to documents from PEER project)


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© 2007 - 2025 Social Science Open Access Repository (SSOAR).
Based on DSpace, Copyright (c) 2002-2022, DuraSpace. All rights reserved.