Competitive balance is recognized as an important source of market efficiency, a fact found to be true of soccer markets, studied here. In this paper, we measure the competitive balance of the Portuguese Soccer League “Primeira Liga” using data compiled since the 1980/1981 season. Employing different measures of competitive balance, we test for trends in competitive balance using the most appropriate (considering that we are working with time series) techniques and explore how this trend had changed because of the existence of the Golden Generation of soccer players (e.g., Figo, Rui Costa...Read more
