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http://hdl.handle.net/10419/51366
  
Title:The election of a world champion PDF Logo
Authors:Langen, Martin
Krauskopf, Thomas
Issue Date:2010
Series/Report no.:CAWM discussion paper / Centrum für Angewandte Wirtschaftsforschung Münster 39
Abstract:This paper examines the mechanisms by which a World Champion is chosen in the For-mula One Championship. Furthermore it is analysed whether there is a best method to do this. For this purpose we will discuss the methods used by the Fédération Internationale de l'Automobile (FIA) since the founding of the World Championship in 1950. We show how the election of a method affects the Formula One contest. We then give insight whether there is a best method to select a World Champion or not. We therefore discuss Arrow's Impossible Theorem with respect to this sports contest. Moreover we simulated several seasons and compared different scoring vectors with respect to indicators that might be important for viewer's demand.
Subjects:Social Choice
Aggregation rules
Ranking
Sport
Formula One
JEL:D71
L83
C63
Document Type:Working Paper
Appears in Collections:CAWM Discussion Papers, Universität Münster

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