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The rat race is an approach to explain the excessive increase in investment among participants in an economic competitive situation, which has so far been used in sport in the context of league sports. Proceeds leaps are seen as an incentive for an investment spiral of the race participants. In the context of the Rank-Order-Tournament theory, however, revenue jumps are seen as a design recommendation for competition organizers. Based on the rat race concept, this paper examines the conditions of over-investment in the individual sports using the sport of triathlon as example. After a presentation of the current state of research, the theoretical concept is classified into the Principal-Agent theory as part of the new institutional-economic paradigm. Based on this, the peculiarities of individual sports are elaborated and a classification of the professionalized sport as an object of investigation is made. The study design is divided into four sub-complexes. First, the proceed leaps in prize money distribution are analyzed and compared with examples from the individual and league sports. A high concentration of the price on the front ranks as well as large leaps on the ranks are shown. Subsequently, the development of input and output factors is analyzed longitudinally, and a documentary analysis shows that the input in professional triathlon has increased more than the output over the research period. The absolute relation between input and output of professional triathletes was investigated by means of a written survey of professional license holders in Germany. It sums up an overinvestment situation for the vast majority of athletes and differentiates the degree of professionalization on the basis of income. In the final complex, measures to dampen the spiral of investment are derived and evaluated through expert interviews.
keywordsIronman Lizensierung Prinzipal-Agenten-Theorie Profisport Regulierung Sportökonomie Triathlon
Ihr Werk im Verlag Dr. Kovač
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