Are football clubs profit maximisers or utility maximisers Essay

Are football clubs profit maximisers or utility maximisers - Essay Exampleteam sports tend to generate, make this particularly strong territory in which to explore the perennial questions about incentives, effort, risk and reward, which lie at the heart of all economic inquiry (Dobson & Goddard, 2001, p. 1). Although, the stark similarities of concerns between political economy and sports do the union possible, Peter Sloane (2006) noted that the app arnt similarities should not be over emphasised, as there are intrinsic dissimilarities between sports and conventional industries.As we try to understand the goal of each football clubs involve in the world of sports, perhaps, the more important matter that we have to take under experimental condition is the idea that these clubs are in themselves govern by economic and market placeing principles that are basically govern by researches and studies that give credence to the claim made by each the theories. But are the theories really of minimal flaws?To begin with, if one will go over the literature on profit maximization and utility maximasation theory, regardless of the strand of both theories, on thing that is noticeable in the study is the used of mathematical formulations in support of their claims. I am raising this point on the supposition that in the world of Economics and Finance, a theory is made more tenable and believable if there are strong mathematical formulations and explanations that support the theory (Cubitt & Sugden, 1994 Friedman & Sandow, 2003 Bouchard, 2002Lee, 1979Portes 1968). And again, this is regardless of the position that one may be taking.In the entry of mathematics in the realm of the market, of finance and economics, one can get the sense that one is no longer dealing with an erratic and unpredictable realm. Rather, the presence of mathematical explanations for the credibility of the theory regarding the movements of the market underlie the fact that studies undertaken in order to understand the movements and dynamics of the market is , perhaps, as precise as some