Prof Paul Madden - research
Specific research interests:
My general research area is applied economic theory. Initial interests in stability and money in general equilibrium theory (1970’s) gave way to research in disequilibrium macroeconomic theory (1980’s). In the last 15 years my interests have focused more on microeconomics than on macroeconomics, specifically; public and welfare economics in general and the economics of crime and corruption in particular, imperfect competition including oligopsony/oligopoly and Hotelling and Salop models of product differentiation and location with special focus on the retail sector, oligopsony and oligopoly, and industrial organisation. Since 2010, the economics of professional sports leagues has become my major area of research activity.
Current research projects:
My most recent research work (and seminar/conference presentations) has been in the area of the economics of professional sports leagues, including:
- an investigation of the performance of a professional sports league under the alternative club objectives of profit maximization, team quality maximization and fan welfare maximization (European Economic Review);
- a paper with Terry Robinson (Manchester Business School) which also investigates the performance of a professional sports league under an alternative club objective, now so-called utility maximization (Scottish Journal of Political Economy);
- three papers on the modelling of strategic interactions between clubs in a professional sports league (Journal of Sports Economics and two working papers);
- a simple theoretical model tracing welfare consequences of UEFA's "Financial Fair Play" initiative (Journal of Sports Economics);
- a paper with Mario Pezzino on the impact of broadcaster regulation on sports league TV rights income (working paper);
In addition I have co-authored a number of papers on imperfect competition with Professor Leo Kaas (currently Konstanz University), the two most recent of which have adddressed the effects of minimum wages on job characteristics via a model of Hotelling duopsony (Economic Theory), and how minimum wages can have favourable effects on a hold-up problem in oligopsonistic labour markets (Labour Economics).