Market-driven responses to bad behaviour

Sport has often been dominated by discussions concerning what to do about bad behaviour. What seems to be emerging is what one might term 'market responses' to such bad behaviour. For instance, numerous sponsors in professional cycling have now withdrawn from the sport following a spate of positive drugs tests. More recently, Australian National Rugby League player Breet Stewart was charged with sexual assault, resulting in some sponsors pulling out of deals in the sport. In both cases, the loss of sponsors has clearly had an impact on the financing, commercial viability and appeal of the respective sports. Hence, it can be asked: is market-driven regulation of bad behaviour in sport a better way of regulating behaviour than, say, intervention by a governing body or federation?