Brian C. Hill

Rank-order tournaments with heterogeneous competitors work best when the competitors are relatively equal in abilities. Using data from 2007-2012 on major track and field events, this paper examines whether the presence of a superstar, Usain Bolt, has an effect on competitors. Results indicate a positive superstar effect. For average runners, the presence of Bolt is associated with running faster times and a higher likelihood of setting a personal record, but these results vary across runner abilities and stage of tournament. In general, the positive superstar effect is smaller for...Read more

Bernd Frick
Joachim Prinz

In a world of asymmetric information and non-trivial monitoring costs, the design and implementation of a compensation and reward system that maximizes the individual athlete’s performance is one of the critical variables affecting the reputation of a specific sports event. Assuming that the relationship between a race organizer and a professional runner can be characterized as a principal agent-relationship, we use detailed data from 57 city marathons to test various hypotheses derived from tournament theory. Controlling for a large number of other possible determinants of race quality,...Read more