id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-034205-53i2tw65	Richau, Lukas	The sky is the limit?! Evaluating the existence of a speculative bubble in European football	2020-10-24		.txt	text/plain	9409	482	51	By applying the Kindleberger-Minsky model to European football, the study is conceptual in nature, which is complemented by quantitative key indicators used to assess the risk of a speculative bubble in other industries (e.g., the housing market). Managers might assign a different weight to the various performance measures, which increases the extent of subjectivity in player valuations and transfer fee negotiations (for further information about judgments in markets that lack objective criteria, see Karpik 2011; Maurer and Mikl-Horke 2015) Hence, the selling and purchasing clubs might differ in their judgments regarding a fair price. In line with this discussion, we use transfer fees as a price indicator to examine the existence of a speculative bubble, by applying the Kindleberger-Minsky model to the football market. The recent development of transfer fees in European football-in particular the rapid increase from 2014/2015 to 2017/2018-has followed a pattern resembling historical speculative bubbles as described by the Kindleberger-Minsky model.	./cache/cord-034205-53i2tw65.txt	./txt/cord-034205-53i2tw65.txt