Abstract and Keywords
This chapter covers the economic aspects of championship playoffs, and the nexus of the regular season and the post-season in the four major North American professional sports leagues and the English Premier League (EPL). The parameters of the champion effect are isolated, and the playoff structures and payoffs to the teams and players are compared for each of the sports leagues. The chapter explores the internal contradiction of the post-season. Although the results increase the risk and lower the expected payoff of the champion effect, particularly for Major League Baseball (MLB), they also suggest an optimum playoff strategy for profit-maximizing owners. The most likely candidates for the champion effect are MLB and EPL, with reservations about the uncertainty of MLB's short playoffs and the symmetry of EPL/UEFA Champions' League qualification and relegation. Winning during the regular season is talent driven, and winning in the post-season is riskier business.
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