We study the problem of sharing the revenue from broadcasting sport events, among participating players. We provide direct, axiomatic and game-theoretical foundations for two focal rules: the equal-split rule and concede-and-divide. The former allocates the revenues generated from broadcasting each game equally among the participating players in the game. The latter concedes players in each game the revenues generated by their respective fans and divides equally the residual. We also provide an application studying the case of sharing the revenue from broadcasting games in La Liga, the Spanish Football League. We show that hybrid schemes, combining our rules with lower bounds and performance measures, yield close outcomes to the current allocation being implemented by the Spanish National Professional Football League Association.

/pdf/sharing-the-revenues-from-broadcasting-sport-events-5ef02j9s4p.pdf

Sharing the Revenues from Broadcasting Sport Events

I feel that PR could best be achieved by allowing MPs to job share.
Put simply the percentage of the hours worked by each MP should

On Proportional Representation

A core challenge in studying the real return on artist' work is the extreme difficulty accessing private records from when an artwork was first sold and thus relying on public auction data. In addi...

Fractional Equity, Blockchain, and the Future of Creative Work

The paper aims to present a systematic literature review (SLR) showing the benefits, challenges and future research of blockchain technology (BT) for the supply chain (SC), also suggesting how the features of BT can change the organizational aspects of the SC.,An SLR has been conducted to detect papers that contained the word “Blockchain” in their titles, keywords or abstracts. Consequently, a second filter to analyze BT papers for the SC was applied.,This paper shows through 31 variables classified into positive, negative and future directions of technology for the SC. For instance, BT will reduce time consuming of operations management and payments using smart contracts. In addition, integrating BT with other technologies will allow product tracking and sustainable production management.,The selection of papers is limited to Scopus database and specifically to the Management Journal.,BT creates collaborative peer-to-peer and business-to-business markets. The technology automates several tasks such as order management, payment for goods, waste reduction and process control. Therefore, its use within the SCs will improve the productivity and profits of the participants.,This paper is focused on BT for the SC area with 60 articles analyzed. In addition, 13 variables on benefits, eight variables on challenges and 12 points on future research directions were analyzed. This work will help researchers and entrepreneurs to deepen about the changes that BT offers in SC.

New organizational changes with blockchain: a focus on the supply chain

We study financial networks and reveal a new kind of systemic risk arising from what we call default ambiguity—that is, a situation where it is impossible to decide which banks are in default. Spec...

https://www.zora.uzh.ch/id/eprint/174513/1/Default_Ambiguity-MgtSci.pdf

Default Ambiguity: Credit Default Swaps Create New Systemic Risks in Financial Networks

We consider a situation in which agents have mutual claims on each other, summarized in a liability matrix. Agents' assets might be insufficient to satisfy their liabilities leading to defaults. We assume the primitives to be denoted in some unit of account. In case of default, bankruptcy rules are used to specify the way agents are going to be rationed. We present a convenient representation of bankruptcy rules. A clearing payment matrix is a payment matrix consistent with the prevailing bankruptcy rules that satisfies limited liability and priority of creditors. Both clearing payment matrices and the corresponding values of equity are not uniquely determined. We provide bounds on the possible levels equity can take. We analyze decentralized clearing processes and show the convergence of any such process in finitely many steps to the least clearing payment matrix. When the unit of account is sufficiently small, all decentralized clearing processes lead essentially to the same value of equity as a centralized clearing procedure. As a policy implication, it is not necessary to collect and process all the sensitive data of all the agents simultaneously and run a centralized clearing procedure.

/pdf/decentralized-clearing-in-financial-networks-1nmr7uvndi.pdf

P.J.J. Herings

Papers

Decentralized clearing in financial networks