IDEAS home Printed from https://ideas.repec.org/a/eee/ecanpo/v59y2018icp54-68.html
   My bibliography  Save this article

Surviving in the shadows—An economic and empirical discussion about the survival of the non-winning F1 drivers

Author

Listed:
  • Mourao, Paulo Reis

Abstract

F1 drivers are the (most) visible faces of a F1 team’s performance. Good performances ensure a lengthier contract between drivers and teams. Reversely, humble performances may jeopardize the renewal of drivers’ contracts to their teams. This paper will study the capacity of F1 drivers surviving professionally in competition. Considering two major samples of drivers (without points or without victories) and two types of ‘exits’ (exiting the team or exiting the F1 competition), various regressions of Cox survival models and of parametric regressions have been obtained. The main results suggest that recent worse standings results, higher ages and a higher number of withdrawals contribute to the shortening of F1 careers. It has also been observed that the early decades of competition were not known for providing a higher number of races for drivers. Reversely, adding podium positions (even without winning) ensures a longer professional life in F1.

Suggested Citation

  • Mourao, Paulo Reis, 2018. "Surviving in the shadows—An economic and empirical discussion about the survival of the non-winning F1 drivers," Economic Analysis and Policy, Elsevier, vol. 59(C), pages 54-68.
    • Handle: RePEc:eee:ecanpo:v:59:y:2018:i:c:p:54-68
    DOI: 10.1016/j.eap.2018.04.001
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0313592617302898
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.eap.2018.04.001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Goldin, Claudia, 1980. "The Work and Wages of Single Women, 1870 to 1920," The Journal of Economic History, Cambridge University Press, vol. 40(1), pages 81-88, March.
    2. Philippe Cyrenne, 2014. "Salary Inequality, Team Success and the Superstar Effect," Departmental Working Papers 2014-02, The University of Winnipeg, Department of Economics.
    3. Daniela-Emanuela Danacica & Ana-Gabriela Babucea, 2010. "Using Survival Analysis In Economics," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 439-450, november.
    4. Camilla Mastromarco & Marco Runkel, 2009. "Rule changes and competitive balance in Formula One motor racing," Applied Economics, Taylor & Francis Journals, vol. 41(23), pages 3003-3014.
    5. Susan N. Houseman & Arne L. Kalleberg & George A. Erickcek, 2003. "The Role of Temporary Agency Employment in Tight Labor Markets," ILR Review, Cornell University, ILR School, vol. 57(1), pages 105-127, October.
    6. Reiner Eichenberger & David Stadelmann, 2009. "Who Is The Best Formula 1 Driver? An Economic Approach to Evaluating Talent," Economic Analysis and Policy, Elsevier, vol. 39(3), pages 389-406, December.
    7. Bell Andrew & Smith James & Sabel Clive E. & Jones Kelvyn, 2016. "Formula for success: Multilevel modelling of Formula One Driver and Constructor performance, 1950–2014," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 12(2), pages 99-112, June.
    8. Keele, Luke, 2010. "Proportionally Difficult: Testing for Nonproportional Hazards in Cox Models," Political Analysis, Cambridge University Press, vol. 18(2), pages 189-205, April.
    9. Berlinski, Samuel & Dewan, Torun & Dowding, Keith, 2007. "The Length of Ministerial Tenure in the United Kingdom, 1945–97," British Journal of Political Science, Cambridge University Press, vol. 37(4), pages 765-766, October.
    10. J.Hausman & G. Leonard, 1994. "Superstars in the NBA: Economic Value and Policy," Working papers 95-2, Massachusetts Institute of Technology (MIT), Department of Economics.
    11. Tony Fang & Fiona MacPhail, 2008. "Transitions from Temporary to Permanent Work in Canada: Who Makes the Transition and Why?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 88(1), pages 51-74, August.
    12. Dennis Coates & Bernd Frick & Todd Jewell, 2016. "Superstar Salaries and Soccer Success," Journal of Sports Economics, , vol. 17(7), pages 716-735, October.
    13. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66(4), pages 281-281.
    14. J. Richard Hill & Peter A. Groothuis, 2001. "The New NBA Collective Bargaining Agreement, the Median Voter Model, and a Robin Hood Rent Redistribution," Journal of Sports Economics, , vol. 2(2), pages 131-144, May.
    15. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-858, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Schöber, Timo & Stadtmann, Georg & Parshakov, Petr, 2021. "Survival of professional CS:GO teams: What matters? A research note," Discussion Papers 425, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    2. Onur Burak Celik, 2020. "Survival of Formula One Drivers," Social Science Quarterly, Southwestern Social Science Association, vol. 101(4), pages 1271-1281, July.
    3. Oliver Budzinski & Arne Feddersen, 2020. "Measuring competitive balance in Formula One racing," Chapters, in: Plácido Rodríguez & Stefan Kesenne & Brad R. Humphreys (ed.), Outcome Uncertainty in Sporting Events, chapter 1, pages 5-26, Edward Elgar Publishing.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rachel Scarfe & Carl Singleton & Adesola Sunmoni & Paul Telemo, 2024. "The age‐wage‐productivity puzzle: Evidence from the careers of top earners," Economic Inquiry, Western Economic Association International, vol. 62(2), pages 584-606, April.
    2. Majda Benzidia & Michel Lubrano, 2016. "A Bayesian Look at American Academic Wages: The Case of Michigan State University," AMSE Working Papers 1628, Aix-Marseille School of Economics, France.
    3. Fang, Tony & Samnani, Al-Karim & Novicevic, Milorad M. & Bing, Mark N., 2013. "Liability-of-foreignness effects on job success of immigrant job seekers," Journal of World Business, Elsevier, vol. 48(1), pages 98-109.
    4. Joachim Merz & Peter Paic, 2005. "Zum Einkommen der Freien Berufe Eine - Ordered Probit-Analyse ihrer Determinanten auf Basis der FFB-Onlineumfrage," FFB-Discussionpaper 52, Research Institute on Professions (Forschungsinstitut Freie Berufe (FFB)), LEUPHANA University Lüneburg.
    5. Krauskopf, Thomas & Langen, Martin & Bünger, Björn, 2010. "The search for optimal competitive balance in formula one," CAWM Discussion Papers 38, University of Münster, Münster Center for Economic Policy (MEP).
    6. Kunz-Kaltenhäuser, Philipp, 2021. "Is the NFL's Pro Bowl broken? Considering the players' perspective," Ilmenau Economics Discussion Papers 149, Ilmenau University of Technology, Institute of Economics.
    7. Carl Singleton & Dominik Schreyer, 2023. "Cristiano of Arabia: Did Ronaldo increase Saudi Pro League attendances?," Economics Discussion Papers em-dp2023-14, Department of Economics, University of Reading.
    8. Derek Neal & Sherwin Rosen, 1998. "Theories of the Distribution of Labor Earnings," NBER Working Papers 6378, National Bureau of Economic Research, Inc.
    9. repec:eee:labchp:v:1:y:1986:i:c:p:525-602 is not listed on IDEAS
    10. Onur Burak Celik, 2020. "Survival of Formula One Drivers," Social Science Quarterly, Southwestern Social Science Association, vol. 101(4), pages 1271-1281, July.
    11. Majda Benzidia & Michel Lubrano, 2020. "A Bayesian look at American academic wages: From wage dispersion to wage compression," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 18(2), pages 213-238, June.
    12. Franziska Prockl, 2018. "The Superstar Code - Deciphering Key Characteristics And Their Value," Working Papers Dissertations 38, Paderborn University, Faculty of Business Administration and Economics.
    13. Frank TENKORANG & Bree L. DORITY & Eddery LAM, 2014. "Nba Endgame: Do Salaries Matter?," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 14, pages 51-62, December.
    14. R. Antonietti, 2006. "Human Capital, Sport Performance, and Salary Determination of Professional Athletes," Working Papers 561, Dipartimento Scienze Economiche, Universita' di Bologna.
    15. R. Todd Jewell, 2017. "The Effect of Marquee Players on Sports Demand," Journal of Sports Economics, , vol. 18(3), pages 239-252, April.
    16. Johan Rewilak, 2023. "The Designated Player Policy Rule and Attendance Demand in Major League Soccer," Journal of Sports Economics, , vol. 24(4), pages 475-496, May.
    17. Paulo Reis Mourao & Alina Irina Popescu, 2021. "Discussing the political survival of Romanian ministers since 1989—Do economic conditions matter?," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 29(1), pages 63-93, January.
    18. Hojun Sung & Brian M. Mills, 2018. "Estimation of game-level attendance in major league soccer: Outcome uncertainty and absolute quality considerations," Sport Management Review, Taylor & Francis Journals, vol. 21(5), pages 519-532, December.
    19. Rachel Scarfe & Carl Singleton & Paul Telemo, 2021. "Extreme Wages, Performance, and Superstars in a Market for Footballers," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 60(1), pages 84-118, January.
    20. repec:eee:labchp:v:1:y:1986:i:c:p:641-692 is not listed on IDEAS
    21. Kristinn Hermannsson & Patrizio Lecca, 2016. "Human Capital in Economic Development: From Labour Productivity to Macroeconomic Impact," Economic Papers, The Economic Society of Australia, vol. 35(1), pages 24-36, March.
    22. John S. Heywood & W.S. Siebert & Xiangdong Wei, 2011. "Estimating the Use of Agency Workers: Can Family-Friendly Practices Reduce Their Use?," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 50(3), pages 535-564, July.

    More about this item

    Keywords

    Survival models; Formula one; Motorsports;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecanpo:v:59:y:2018:i:c:p:54-68. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.