New Horizons in the Economics of Sport series – serie

Including an array of distinguished contributors, this novel book fills a gap in the literature by addressing an important yet under researched issue in the field of sports economics. It places great emphasis on the notion that sport is a significant component for improving the happiness, health and well-being of citizens, communities and society as a whole. In so doing, it addresses whether, in an environment of increasing pressure on public spending, governments should continue to subsidise sporting activities at the expense of other public resources.Written in a clear and accessible style, this pioneering book explores a number of specific issues including:the relationship between sport and happinessthe effect of sport on health, including the capacity of sport and exercise to reduce spending on medical expensesthe relationship between sport and productivitywhether sport as a leisure activity can improve quality of life.Innovative and original, this volume will strongly appeal to students and researchers of sport, health and welfare economics.Contributors include: C. Breuer, C. Cabane, M. Davis, P. Downward, C. End, D. Forrest, J. Garcia Villar, H. Huang, B. Humphreys, G. Kavetsos, M. Lechner, J. Leyva, I. McHale, S. Oreffice, T. Pawlowski, J. Price, C. Quintana-Domeque, S. Rasciute, J. Ruseski, N. Sari, D.H. Simon

This innovative book examines key financial dimensions within the world of sports. Thomas J. Miceli discusses topics ranging from the business nature of sports leagues and the pricing of sports events to college sports and the implementation of sports-related public policies.Viewing sports leagues as competitive economic organizations, Miceli examines the unique aspects of the labour market for professional athletes. Utilising examples from the National Football League, Major League Baseball and the National Collegiate Athletic Association, he expands on athletes’ wages, exploring salary determination, risk sharing and incentives, as well as payment of college-level athletes and players training in the minor leagues. The book discusses the optimal enforcement of rules in sports and the level of punishment required to keep sports fair, evaluating policy issues such as the relationship between sports and gambling and discrimination.Topics in Sports Economics is beneficial to scholars and students of economics and sports management, as well as students of other disciplines interested in a rigorous introduction to the field. It will also appeal to readers from other backgrounds who are concerned with applying an economic view to the world of sports.

The study of sport in the economy presents a rich arena for the application of sharply focused microeconomics, macroeconomics and econometrics to both team and individual outcomes. This unique book offers a survey of recent research that follows the tradition of empirical and theoretical analysis of sport economics and econometrics.Including contributions by many of the leading experts in the field, the authors address four central branches, namely: competitive balance, labor relations, attendance and demand, and the economic impact of sport in communities.A wide range of topics is explored within these themes, including:the effect of uncertainty of outcome on attendanceplayers' labor markets, wages and team performancevariations in fan loyalty between teams and through timethe determinants of soccer match attendance.Case studies of Major League Baseball, the National Football League (NFL) and college athletics in the US, the English Premier League, the Spanish football league and other (major and minor) European football leagues underpin the discussion.This important book will prove to be a fascinating and stimulating read for academics, researchers and students interested in the econometric analysis of sport.Contributors: G.M. Ahlfeldt, J. Baños, R. Baumann, D.J. Berri, R. Fort, B. Frick, J. García, W. Greene, B.R. Humphreys, L. Kahane, G. Kavetsos, S. Késenne, Y.H. Lee, N. Longley, V.A. Matheson, R.G. Noll, P. Rodríguez, R. Simmons, S. Szymanski, J. Vrooman

This volume provides a comprehensive examination of public policy aspects of the economics of professional sports.The book offers a unique focus on public policy, covering regulation and competition in the sports industry and its labour markets, governance issues including unethical behavior (corruption, doping, etc.), and public spending on stadiums and mega-events. It also offers an original combination of economic analysis and well-known international examples, from Australia, the United States and Europe, which have provided alternative organizational models of professional team sports. Australia is an interesting case study not only because sport holds a particularly important place in the national psyche but also due to the range of popular professional sports played. The book also analyses the globalization of many sports, the role of international governing bodies, and the difficulties in pursuing effective public policies in this context.This book is a significant contribution to research in sports economics aimed at students and academics interested in both the economics of professional sports and public policy.

Competition is the very essence of professional sports, yet how do we measure it? Has the level of competition changed over time? Can organizers influence the degree of competition, for example, by changing rewards? How does the audience appreciate competition? The Economics of Competitive Sports examines and addresses these questions.This volume presents a state-of-the-art overview of the economics of competitive sport with contributions from leading experts in the field. The initial chapters present a discussion of the organization of sports and competition, exploring how leagues form, operate and compete. The second part of the book deals with the competition, rewards and outcomes of actual organized leagues and contests. Competitive balance and responses to incentives are covered extensively.Academics, policymakers and students seeking an in-depth and practical understanding of the economics of competition in sport will find this volume indispensable.Contributors include: J. Achterhof, M. Andreff, W. Andreff, X.G. Che, J. del Corral, D. Forrest, B. Frick, P. Garcia-del-Barrio, C. Green, B.R. Humphreys, S. Késenne, R. Koning, I.G. McHale, J. Prieto-Rodríguez, F. Pujol, P. Rodríguez, I. Sanz, F. Scheel, R. Simmons, S. Szymanski, J.D. Tena, F. Tenreiro, C. Varela-Quintana

This volume provides a comprehensive examination of public policy aspects of the economics of professional sports.The book offers a unique focus on public policy, covering regulation and competition in the sports industry and its labour markets, governance issues including unethical behavior (corruption, doping, etc.), and public spending on stadiums and mega-events. It also offers an original combination of economic analysis and well-known international examples, from Australia, the United States and Europe, which have provided alternative organizational models of professional team sports. Australia is an interesting case study not only because sport holds a particularly important place in the national psyche but also due to the range of popular professional sports played. The book also analyses the globalization of many sports, the role of international governing bodies, and the difficulties in pursuing effective public policies in this context.This book is a significant contribution to research in sports economics aimed at students and academics interested in both the economics of professional sports and public policy.

For decades, sports economics has been set within the framework of equilibrium economics, in particular when modelling team sport leagues. Based on a conviction that this does not reflect real life, this book addresses a gap in the literature and opens up a new research area by applying concepts drawn from disequilibrium economics. It is divided into two parts, the first of which focuses on economic disequilibrium in sports markets and competitive imbalance in sporting contests. The second part concentrates on soft budget constraints and their consequences for club governance and management.This pioneering book is the first to tackle non-mainstream economics in sport and offers a first approach to disequilibrium sports economics. Providing a new metric of competitive balance and opening up new avenues of future research, this is essential reading for economists and those researching sport across many disciplines.Contributors: W. Andreff, E. Franck, J.-P. Gayant, N. Le Pape, R.D. Macdonald, K. Nielsen, R.K. Storm, G.N. Tuck, D. van Reeth, A.R. Whitten

From professional team sports to international events such as the Olympics and Tour de France, the modern sports industry continues to attract a large number of spectators and participants. This book, edited by John K. Wilson and Richard Pomfret, analyzes the economic evolution of sports over the last 150 years, from a pastime activity to a big business enterprise. It begins at a time when entrepreneurs and players first started making money from professional sports leagues, through to the impact of radio and TV in the twentieth century, and on to the present day.Using examples from sports across the world, the chapters cover such important issues as player migration, labor market restrictions, stadium arrangements and the rise and fall of workplace provisions. Unlike most sports economic texts, the contributors featured here provide insights into the historical origins of many practices and policies peculiar to the industry. This historical perspective casts light onto the development of practices, such as labor market regulations and public policies, which have become more prevalent in the modern age.The non-technical, user-friendly nature of this book will appeal to many students, particularly those enrolled in sports economics courses - a field of study which is increasingly common. Academics will also find this book to be a timely reference for their research and teaching.Contributors include: L. Borrowman, A. Carter, J. Cranfield, L. Frost, A.K. Halabi, K. Inwood, A. Kawaura, S. La Croix, M. Lightbody, J.-F. Mignot, R. Pomfret, J.A. Ross, W. Vamplew, J.K. Wilson

This unique book examines how sports betting markets function. Charting recent international developments, expert contributors consider how both bookmakers and stakeholders view these changes, their prime areas of concern and the potential methods for addressing them. Providing a rigorous economic analysis throughout, this book examines the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports. Against this background, chapters explore pertinent questions such as: should gambling markets be privatized? Is the `hot hand' hypothesis real or a myth? Are the `many' smarter than the `few' in estimating betting odds? How are prices set in fixed odds betting markets? Chapters also review important policy concerns such as the health implications posed by the potential link between the accelerating popularity of sports betting and the decline in sports participation. Academics and students studying economics, sports economics and, more specifically, sports betting will find this book an engaging companion. Contemporary and up to date, it will also appeal to stakeholders looking to widen their professional insight.Contributors include: B. Buraimo, X. Che, S. Dobson, A. Feddersen, D. Forrest, J. García, J. Goddard, K. Grote, B. Humphreys, V. Matheson, R. Paul, D. Peel, L. Pérez, P. Rodríguez, J. Ruseski, R. Simmons, P. Westmoreland, A. Weinbach, R. Wheeler, J. Yang

From professional team sports to international events such as the Olympics and Tour de France, the modern sports industry continues to attract a large number of spectators and participants. This book, edited by John K. Wilson and Richard Pomfret, analyzes the economic evolution of sports over the last 150 years, from a pastime activity to a big business enterprise. It begins at a time when entrepreneurs and players first started making money from professional sports leagues, through to the impact of radio and TV in the twentieth century, and on to the present day.Using examples from sports across the world, the chapters cover such important issues as player migration, labor market restrictions, stadium arrangements and the rise and fall of workplace provisions. Unlike most sports economic texts, the contributors featured here provide insights into the historical origins of many practices and policies peculiar to the industry. This historical perspective casts light onto the development of practices, such as labor market regulations and public policies, which have become more prevalent in the modern age.The non-technical, user-friendly nature of this book will appeal to many students, particularly those enrolled in sports economics courses - a field of study which is increasingly common. Academics will also find this book to be a timely reference for their research and teaching.Contributors include: L. Borrowman, A. Carter, J. Cranfield, L. Frost, A.K. Halabi, K. Inwood, A. Kawaura, S. La Croix, M. Lightbody, J.-F. Mignot, R. Pomfret, J.A. Ross, W. Vamplew, J.K. Wilson

This book examines personnel economics within the context of the professional sport industry. Sport is an effective industry in which to empirically test theories of personnel economics, primarily because the employer-employee relationship in sport is much more visible and transparent than in almost any other industry. Researchers benefit from having data on a host of variables pertaining to individual employees (i.e. players), such as their age, race, national origin, and experience. Researchers also have data on each employee's performance, on their salary, and on who their co-workers (teammates) and managers (coaches) are.The chapters are organized around the core functional areas of personnel economics and cover all aspects of the employment relationship in sport - from recruiting and selection, to pay and performance, to work team design. Each chapter contains a thorough literature review that provides the reader with a sense of the breadth and depth of the work being done in the area, and with a sense as to how the literature can move forward, both in a sport and non-sport context. The book is suitable for an advanced undergraduate course right through to a PhD-level field-course in both management and economics. Academic researchers in the fields of sports economics, personnel economics, human resource management, strategic management and sport management will also find the book of interest.Contributors include: D. Berri, C. Deutscher, B. Frick, L.H. Kahane, N. Longley, J.G. Maxcy, J. Prinz, R. Simmons, D. Weimar

Sport has the power to change the world.'' Sports Economics Uncut expresses this insight from Nelson Mandela, exploring sports as a fascinating mirror of the world and a powerful agent of change. In this book, Brian Goff covers subjects ranging from the ebb and flow of racial discrimination, to inequality, law enforcement, managers and risky decisions, club membership, and politics. Much more than merely a review or synthesis, this work extends existing perspectives and explores provocative questions such as: how systematic is racial bias in pro sports today? Is all racial segregation in sports due to racial bias? How much are college athletes really worth, and is league parity really optimal?This book highlights the fascinating paradox of the modest revenues spent on sports but the enormous intangible value of it. The author explains how recent evidence of racial bias in sports actually illustrates how much ground has been gained in society on racial matters; how the scandals of college sports are a built-in feature of a world in which football and basketball athletes are worth millions; how athletic skill can vary widely across and within regions and races, and how this can influence positioning decisions; and how managers reflect both traditional economic views of decision making and more recent behavioral views. While drawing from widespread academic studies, this is a lively presentation accessible to a wide audience, with extensive but easy to digest data. Students and scholars of sports economics, as well as those studying sports analysis or related areas, will find it an engaging and eye-opening read.

The sports sector, apart from being of economic significance in itself, is clearly one that many citizens share a great interest in. It is not mere results, but aspects such as history, statistics, interest in labour markets and finances that often spark people's interest. The characteristics of the sports sector and the data it provides allows economists to cast light on a large number of economic issues facing society. Historical Perspectives on Sports Economics explores a variety of topics, including mega-event analysis, sports governance, anthropometrics, gambling, industrial organisation, infrastructure development and racial issues. The analysis is sufficiently non-technical and will appeal not only to academic economists and students, but to historians and sports enthusiasts as well.

Exploring why professional team sport clubs are almost always able to survive despite financial mismanagement, inflated player salaries and persistent deficits, this book provides new evidence on how to explain this phenomenon. It looks at the context in which many clubs operate – the soft budget constraint – and how the clubs in this respect resemble state-owned enterprises in socialist countries or big banks in financial crises.Chapters discuss the challenge of hardening the budget constraint, including UEFA’s Financial Fair Play regulation. They include new data about the soft budget constraint phenomenon, including evidence from Central and Eastern Europe. Leading scholars in the field develop the theoretical approach to the topic using institutional theory, dialogue with critics and discussions on the merits and limits of soft budgets. The book also investigates key case studies of bailouts and liquidation of professional sports teams.This will be an invigorating read for scholars and students of sports economics and sports management. It will also be helpful to managers and directors in professional sports clubs looking for a better understanding of the soft budget constraint.

Offering a cutting-edge analysis of competitive balance and outcome uncertainty, this book explores the topic from multiple perspectives. Chapters address competitive balance and outcome uncertainty in different sports in a range of countries to help understand its significance. Highlighting important new insights into previously unexplored dimensions, the book also provides a rich context for better understanding why fans, teams and leagues value competitive balance. It challenges readers to think about the topic in a broad and rigorous way, and in some cases to question widely held beliefs about how outcome uncertainty motivates competitive balance and how sports fans actually view competitive balance. Key case studies and the use of new data in the chapters makes this an interesting read for sports economics researchers and students looking for current analysis of the topic. Managers of sports organizations will also appreciate the insights that the book gives into what their customers value. Contributors include: A. Barajas, O. Budzinski, D. Coates, J. del Corral, A. Feddersen, B. Frick, T. Gasparetto, C. Gómez-González, T.J. Gopane, B.R. Humphreys, S. Jenkins, S. Kesenne, M. Lowrance, J. Miller, K.T. Mokgatle, J. Price, J. Reade, P. Rodríguez, L.C. Sánchez, P. Sanchez-Fernandez, E.F. Stephenson, H. Winner

The relationship between sport and the media raises numerous issues and problems. This book outlines the current major policy concerns relating to the commercialization of sports broadcasting rights. What is the impact of marketing arrangements between content owners and media companies - a combination of joint selling with exclusivity - on fans, big-city and small-city clubs, TV markets, and finally on consumer welfare? Do consumers in Europe and the USA receive good value for the fees they pay to broadcasters? And does the way programs are delivered to the viewers (free-to-air, pay-TV or pay-per-view) have a positive or negative influence on the deal consumers receive? These are some of the central issues discussed within this book by the international team of contributors.Providing a comprehensive view on the relations between the sports media rights market, the sports market and the different partakers in the process (club, leagues, events organisers, TV operators, intellectual property owners), this book will be of great interest to academics and sports economists alike. With its clear and simple presentation, The Economics of Sport and the Media will also be accessible to sport federations, leagues, clubs, and policy makers at governmental and non-governmental agencies.

This book provides a complete picture of the development of competitive balance in the major European football countries over an extended period of time, along with some policy prescriptions for the governance of the European football market. It presents three new indices which show that European football competitions become less exciting over time. It is also shown that the lower the average number of goals per match, the more imperfect the referee and the stronger the home and away (dis)advantage, the higher the level of competitive balance will be. In the final chapter it is argued that to safeguard the competitive balance and the longstanding traditions of European football, a decommercialization of football is required. Using standard welfare economic theory, the author shows that free-of-charge public broadcasting is the preferred policy. This book is highly relevant for sports economists, higher vocational and academic students in sports studies and for policymakers in football governing bodies and competition policy agencies.

This timely book offers a critical interpretation of the traditional social and economic accounts of sport. It provides an incisive analysis of professional sport and defines alternative foundations to the present model. The authors demonstrate that professional sport is an extremely complex phenomenon encompassing many unique factors depending on its global reach, financing and organization. In particular they address three significant issues:an analysis of the relationship between sport and economic development in order to explain the place of professional sport in modern societiesa study of the main difficulties facing the organization of professional sports in terms of financing, collective bargaining and the consequences of revenue sharing for competitive balancean exploration of alternatives to current governance structures which would involve a return to professional ethics.This insightful and topical book is essential for academics and students of sport management, researchers of the economics of sport, managers of clubs and federations involved in professional sports, as well as civil servants and journalists.