Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga
Sunk cost fallacy is a behavioral decision-making concept that leads to biased decisions and sub-optimal outcomes. Although academics have shown some interest in this phenomenon, only a few studies investigate the presence of sunk cost fallacy in European football. This study investigates whether th...
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| Format: | Article |
| Language: | English |
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Pamukkale University
2022-04-01
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| Series: | Pamukkale Spor Bilimleri Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/2229076 |
| _version_ | 1797920800392609792 |
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| author | Selçuk Özaydın |
| author_facet | Selçuk Özaydın |
| author_sort | Selçuk Özaydın |
| collection | DOAJ |
| description | Sunk cost fallacy is a behavioral decision-making concept that leads to biased decisions and sub-optimal outcomes. Although academics have shown some interest in this phenomenon, only a few studies investigate the presence of sunk cost fallacy in European football. This study investigates whether the sunk cost fallacy exists in Europe’s top two football leagues using transfer fees and playing time. The presence of sunk cost fallacy would indicate a faulty decision-making process. The conducted regression continuity design results suggest that the coaches in the English Premier League make biased decisions due to sunk cost fallacy, whereas the coaches in German Bundesliga do not. The biased decisions of Premier League managers indicate managerial inefficiency, which might lead to undesired outcomes. |
| first_indexed | 2024-04-10T14:06:31Z |
| format | Article |
| id | doaj.art-6f070a71a77c4d459bf9fead03a97d81 |
| institution | Directory Open Access Journal |
| issn | 1309-0356 |
| language | English |
| last_indexed | 2024-04-10T14:06:31Z |
| publishDate | 2022-04-01 |
| publisher | Pamukkale University |
| record_format | Article |
| series | Pamukkale Spor Bilimleri Dergisi |
| spelling | doaj.art-6f070a71a77c4d459bf9fead03a97d812023-02-15T16:09:58ZengPamukkale UniversityPamukkale Spor Bilimleri Dergisi1309-03562022-04-01131223510.54141/psbd.1067276218Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German BundesligaSelçuk Özaydın0HALİÇ ÜNİVERSİTESİ, BEDEN EĞİTİMİ VE SPOR YÜKSEKOKULU, SPOR YÖNETİCİLİĞİ BÖLÜMÜSunk cost fallacy is a behavioral decision-making concept that leads to biased decisions and sub-optimal outcomes. Although academics have shown some interest in this phenomenon, only a few studies investigate the presence of sunk cost fallacy in European football. This study investigates whether the sunk cost fallacy exists in Europe’s top two football leagues using transfer fees and playing time. The presence of sunk cost fallacy would indicate a faulty decision-making process. The conducted regression continuity design results suggest that the coaches in the English Premier League make biased decisions due to sunk cost fallacy, whereas the coaches in German Bundesliga do not. The biased decisions of Premier League managers indicate managerial inefficiency, which might lead to undesired outcomes.https://dergipark.org.tr/tr/download/article-file/2229076english premier leaguefootball transfer marketgerman bundesligamanagerial decision-makingsunk-cost fallacy |
| spellingShingle | Selçuk Özaydın Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga Pamukkale Spor Bilimleri Dergisi english premier league football transfer market german bundesliga managerial decision-making sunk-cost fallacy |
| title | Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga |
| title_full | Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga |
| title_fullStr | Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga |
| title_full_unstemmed | Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga |
| title_short | Investigation of Sunk Cost Fallacy in European Football – Empirical Evidence from English Premier League and German Bundesliga |
| title_sort | investigation of sunk cost fallacy in european football empirical evidence from english premier league and german bundesliga |
| topic | english premier league football transfer market german bundesliga managerial decision-making sunk-cost fallacy |
| url | https://dergipark.org.tr/tr/download/article-file/2229076 |
| work_keys_str_mv | AT selcukozaydın investigationofsunkcostfallacyineuropeanfootballempiricalevidencefromenglishpremierleagueandgermanbundesliga |