Evaluation of policies to auction retain and value players 8217 services in ipl and other sports tournaments

Abstract

In this dissertation we present our research on policies that are used to allocate players 8217 services for example auctions retention options etc in sports tournaments We also present a method or technique that can be used to value players 8217 services in these tournaments We focus on the Indian Premier League IPL as it is the most popular sports tournament in India However our work is relevant to other sports tournaments as well because they also follow similar arrangements We present three essays in this dissertation which originate in the context of sports tournaments but are relevant to other areas of management research as well Broadly we contribute to the literature of competitive and cooperative game theory auction theory and statistics In Chapter 2 we examine the auction mechanism that is used to allocate players 8217 services in the Indian Premier League or other sports tournaments of Indian origin The auction format which is used to allocate players 8217 services in these tournaments is sequential English Although the auctions conducted through this format are administratively easy to manage they can be quite complicated to study from an academic perspective This problem emerges more prominently when such an auction format is used to allocate players 8217 services in sports tournaments like IPL This is because of the presence of the synergistic relationships complementarity and substitutability between players whose services are being auctioned IPL is a cricket tournament which is a team sport Team sports like cricket are multi dimensional i e a team needs to be proficient in multiple skills to be successful in the tournament In the context of cricket the required skills can be batting bowling fielding etc Since a single player cannot become an expert in every skill various cricket players specialize in different skills Subsequently players with different specialties are treated as complementary and those who specialize in the same skill are treated as substitutes newline newline