Economic Theory of Professional Team Sports

Stefan Késenne's work has added a new dimension to the literature by bringing a European perspective to the analysis of professional sports leagues. This text sets out his research programme in a clear and accessible manner. His work is profoundly influential in the sports literature and the lessons of this book need to be understood by all those interested in policies and practices of sports leagues.'- Stefan Szymanski, Cass Business School, UK'Stefan Késenne is one of the most innovative, clear-headed sports economists writing today. With this book, he has provided a thoughtful, accessible exegesis of the extant literature on the economic theory of team sports leagues. There is no book like this currently available. It will serve as an excellent text for advanced undergraduate and graduate courses in sports economics. I heartily recommend it.'- Andrew Zimbalist, Smith College, USThis revised and updated edition of a classic text offer the most comprehensive and rigorous analytical treatment of the theory of professional team sports presently available. It will be required reading for advanced undergraduate and graduate students in sports economics.Stefan Késenne elucidates the subject in a clear and accessible manner, addressing many of the most pertinent issues including:- The peculiar economics of professional team sports- Sports product market- Player labor market- Product and labor market equilibrium- Restrictions on player mobility- Revenue sharing- Salary capsThis second edition of The Economic Theory of Professional Team Sports also includes student exercises at the end of each chapter and a useful bibliography of further reading.Contents: Foreword 1. The Peculiar Economics of Professional Team Sports 2. Sports Product Market 3. Player Labour Market 4. Product and Labour Market 5. Restrictions on Player Mobility 6. Revenue Sharing 7. Salary Caps Answers to Exercises References and Selected Bibliography Index