Mechanisms of Superstar Formation in German Soccer: Empirical Evidence

摘要

Based on the competing theories of superstar formation proposed by Rosen (1981) and Adler (1985) it is controversial if first hand observable talent or other factors like past consumption and popularity influence stardom. This article investigates the emergence of superstars in German soccer. We use data on market values and individual player performance and publicity data to differentiate between Rosen's and Adler's theory of superstar formation. Running quantile regressions we find evidence that Adler's theory applies to German soccer stars. Therefore, not only investments in physical talent but also the cultivation of popularity is an adequate strategy for becoming a superstar.