The economics of sports:
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Boston ; Munich [u.a.]
Pearson, Addison Wesley
2005
|
| Edition: | 2. ed. |
| Series: | The Addison-Wesley series in economics
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XVII, 475 S. graph. Darst. |
| ISBN: | 0321237749 |
Staff View
MARC
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| 245 | 1 | 0 | |a The economics of sports |c Michael Leeds ; Peter von Allmen |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a Boston ; Munich [u.a.] |b Pearson, Addison Wesley |c 2005 | |
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| 650 | 7 | |a Sport |2 gtt | |
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| 650 | 4 | |a Wirtschaft | |
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Record in the Search Index
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| adam_text | Preface xv
PART ONE Introduction and Review of Economic Concepts 1
chapter I Introduction 3
Three Major Areas of Economics Explored 5
The Role of Models 7
Positive versus Normative Economics 8
Biographies 9
Sports History and Balance of Coverage 9
The Organization of the Text 10
Additional Support and Sources 11
chapter 2 Review of the Economist s Arsenal 13
Introduction 13
2.1 Opportunity Cost and Comparative Advantage 14
2.2 A Reintroduction to Supply and Demand 15
Demand, Supply, and Equilibrium 15
Supply and Demand Curves and the Price of Baseball Cards 19
2.3 Price Ceilings and the Benefits of Scalping 26
2.4 Market Structures: From Perfect Competition to Monopoly 28
A Note on the Definition of Output 28
Perfect Competition 29
Monopoly and Other Imperfectly Competitive Market Structures 31
Applying the Models: Evaluating an Increase in Costs 34
2.5 The Development of Professional Sports 36
2.6 Choices Under Uncertainty 38
BIOGRAPHICAL SKETCH ADAM SMITH 45
SUMMARY 46 DISCUSSION QUESTIONS 46 PROBLEMS 47
appendix 2A Utility Functions, Indifference Curves, and Budget Constraints 49
2A.1 Constrained Maximization 49
ix
2A.2 Using Indifference Curves and Budget Constraints:
The Rise of Soccer and Baseball 55
appendix 2B Regression Analysis in Brief 59
Multiple Regression and Dummy Variables 63
PART TWO The Industrial Organization of Sports 67
chapter 3 Sports Franchises as Profit Maximizing Firms 69
Introduction 69
3.1 Sports Ownership and the Ego Premium 70
3.2 What Are Profits and How Are They Maximized? 71
A Detailed Look at Revenue 72
Television Revenue 77
The Effects of Revenue Sharing 86
Cost 87
Opportunity Cost—Teams on the Move 88
3.3 Taxes, Profit, Owner Behavior, and Vertical Integration 89
3.4 Turning Losses into Profits: The Accounting Game 92
Using Sports to Maximize Profits Elsewhere 93
Operating Income, Book Profit, and Bill Veeck 93
3.5 The Importance of Leagues 96
Setting the Rules 97
Limiting Entry 99
Only the (Financially) Strong Survive: The ABL and the WNBA 102
Controlling Entry as Cooperative Behavior 105
League Contraction 106
Marketing 107
BIOGRAPHICAL SKETCH BILL VEECK 110
SUMMARY 111 DISCUSSION QUESTIONS 111 PROBLEMS 112
CHAPTER 4 Monopoly and Antitrust 113
Introduction 113
4.1 What s Wrong with Monopoly? 114
Monopolists and Deadweight Loss 114
Monopolists and Price Discrimination 117
Consumer Surplus and Personal Seat Licenses 121
Monopoly Stood on Its Head: A Brief Introduction to Monopsony 121
4.2 What s Right with Monopoly? 122
4.3 Barriers to Entry 125
4.4 Society s Response to Monopoly and Monopsony:
Antitrust Laws 126
4.5 An Important Anomaly: Baseball s Antitrust Exemption 128
The Economic Impact of the Antitrust Exemption 133
Limited Exemptions: The NFL and Television 135
4.6 The NCAA: An Incidental Cartel 135
4.7 Prisoner s Dilemma: How Rational Actions Lead to
Irrational Outcomes 139
BIOGRAPHICAL SKETCH PETE ROZELLE 142
SUMMARY 143 DISCUSSION QUESTIONS 144 PROBLEMS 144
APPENDIX 4A An Alternative Application of Game Theory 146
APPENDIX 4B Producer Surplus 148
chapter 5 Competitive Balance 151
5.1 The Fan s Perspective 152
5.2 The Owners Perspective 155
The Effect of Market Size 156
5.3 How Competitive Balance Can Be Measured 158
Within Season Variation 158
Between Season Variation 161
5.4 Attempts to Alter Competitive Balance 164
Revenue Sharing 165
Salary Caps and Luxury Taxes 165
The Reverse Order Entry Draft 166
Schedule Adjustments in the NFL 166
5.5 The Effects of Attempts to Alter Competitive Balance 167
The Coase Theorem and Competitive Balance 168
Salary Caps 169
The Draft 171
Revenue Sharing and Luxury Taxes 172
BIOGRAPHICAL SKETCH BUD SELIG 173
SUMMARY 174 DISCUSSION QUESTIONS 175 PROBLEMS 175
APPENDIX 5A Two Additional Ways to Measure Competitive Balance: The Lorenz
Curve and the Markov Chain Method 177
PART THREE Public Finance and Sports 181
chapter 6 The Public Finance of Sports: The Market for Sports Franchises 183
Introduction: How Walter O Malley Changed the Landscape of Sports 183
6.1 The Competition for Teams and the Value of a New Stadium 186
6.2 How Teams Exploit Market Forces 191
Leagues, Cities, and Monopoly Power 192
The All or Nothing Demand Curve 194
The Winner s Curse 195
6.3 How the Olympics and the World Cup Induce Overspending 198
6.4 The Form and Function of Stadiums and Arenas 202
What s in a Name? 202
The Size and Shape of Facilities 204
Location, Location, Location 210
BIOGRAPHICAL SKETCH AL DAVIS 214
SUMMARY 215 DISCUSSION QUESTIONS 216 PROBLEMS 216
chapter 7 The Costs and Benefits of a Franchise to a City 219
Introduction 219
7.1 Why Do Cities Do It? The Benefits of a Franchise 220
Privately Built Facilities 220
Is a Stadium a Worthwhile Investment for a City? 221
Stadium Rents: What Do Teams Pay? 222
Why Governments Subsidize Sports Franchises 223
Multiplier Effects 230
Can Anyone Win at This Game? 234
The Impact of Special Events 238
7.2 A Public Choice Perspective 239
7.3 Financing Facilities 240
An Economic View of Taxes: Who Should Pay? 241
Sales Taxes 244
Lotteries as an Alternative Revenue Source 245
Two Superior Funding Mechanisms 246
Taxes or Debt? 247
BIOGRAPHICAL SKETCH MITT ROMNEY 249
SUMMARY 250 DISCUSSION QUESTIONS 250 PROBLEMS 251
PART FOUR The Labor Economics of Sports 253
chapter 8 An Introduction to Labor Markets in Professional Sports 255
Introduction 255
8.1 Overview of Labor Supply and Demand 256
Labor Supply 256
Labor Demand 259
Market Demand and Equilibrium 261
Imperfect Competition and the Demand for Labor 262
Human Capital Theory 264
8.2 Monopsony and Other Restrictions of Competitive Markets 266
Monopsony 266
The Reserve Clause 268
Free Agency 269
Final Offer Arbitration 270
Salary Caps 272
The Draft 273
Empirical Evidence on Restricted Player Movement and Player Salaries 274
The Impact of Rival Leagues 277
8.3 The Economics of Tournaments and Superstars 280
Evidence on the Potential Inefficiency of Tournaments 283
What Is a Gold Medal Worth ? 285
An Exception to the Rule: NASCAR 286
The Distribution of Income 288
BIOGRAPHICAL SKETCH BABE DIDRICKSON ZAHARIAS 293
SUMMARY 294 DISCUSSION QUESTIONS 295 PROBLEMS 295
APPENDIX 8A The Labor Leisure Choice Model of Indifference Curves 297
The Labor Leisure Model when Hours Are Fixed 302
APPENDIX 8B The Time Value of Money 304
CHAPTER 9 Labor Unions and Labor Relations 309
Introduction 309
9.1 A Brief Introduction to the Economics of Unions 310
9.2 An Overview of Strikes 314
9.3 Labor Conflict in Professional Sports 318
Strike One: The Baseball Strike of 1972 319
Strike Two: The NFL Strike of 1987 321
Strike Three: The NHL Lockout of 1994 95 323
Strike Four: The 1998 99 NBA Lockout 325
Balk: The 2002 Agreement in Baseball 328
9.4 Comparing the Major Unions: How They Attacked
the Reserve Clause 330
Mighty Oaks from Little Acorns Grow: The MLBPA and the Reserve Clause 330
Snatching Defeat from the Jaws of Victory: The NFLPA and the
Reserve Clause 333
The NBPA and the Reserve Clause: Pioneering a Partnership 336
Bringing Up the Rear: Free Agency in the NHL 338
BIOGRAPHICAL SKETCH MARVIN MILLER 340
SUMMARY 341 DISCUSSION QUESTIONS 341 PROBLEMS 342
CHAPTER 10 Discrimination 343
Introduction 343
10.1 Becker s Theory of Labor Discrimination 345
10.2 Different Forms of Discrimination in Professional Sports 347
Employer Discrimination 347
Does Anyone Win with Employer Discrimination? 351
Employee Discrimination 357
Consumer Discrimination 359
Positional Discrimination or Hiring Discrimination 363
Gender Equity—A Special Case? 367
10.3 Title IX and Discrimination in College Sports 368
BIOGRAPHICAL SKETCH BRANCH RICKEY 372
SUMMARY 374 DISCUSSION QUESTIONS 374 PROBLEMS 374
PART FIVE Sports in the Notfor Profit Sector 377
CHAPTER 11 The Economics of Amateurism and College Sports 379
Introduction 379
11.1 The Troublesome Concept of Amateurism 380
A Brief History of Amateurism and the Olympic Ideal 381
11.2 Amateurism, Profits, and the NCAA 383
The Code of Amateurism: Academic Ideals or Monopsony Power? 385
Pay for Play: The Grant in Aid 388
What s in a Name? The Lot of the Student Athlete 389
Measuring the Net Value of Athletes to Colleges 389
Dividing The Profits: The NCAA as an Efficient Cartel 390
11.3 College as an Investment for the Student Athlete 394
11.4 The NCAA and the Uneasy Coexistence of Athletics and
Academia 400
Why Schools Promote Big Time Athletic Programs 401
Administrators Who Embraced Athletics—and One Who Did Not 403
The Difficulty in Regulating College Sports 405
Academic Standards: Bulwarks of Integrity or Barriers to Entry? 407
Academic Standards as a Barrier to Entry 409
11.5 The Finances of College Athletics 410
Do Colleges Make a Profit from Athletics? 410
Do Athletic Departments Try to Maximize Profits? 412
BIOGRAPHICAL SKETCH ANITA DEFRANTZ 417
SUMMARY 418 DISCUSSION QUESTIONS 418 PROBLEMS 419
Works Cited 421
Index 439
|
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| language | English |
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| spelling | Leeds, Michael A. Verfasser aut The economics of sports Michael Leeds ; Peter von Allmen 2. ed. Boston ; Munich [u.a.] Pearson, Addison Wesley 2005 XVII, 475 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier The Addison-Wesley series in economics Economische aspecten gtt Sport gtt Sports - Aspect économique Wirtschaft Sports Economic aspects Sportökonomie (DE-588)4207188-4 gnd rswk-swf 1\p (DE-588)4123623-3 Lehrbuch gnd-content Sportökonomie (DE-588)4207188-4 s DE-604 Allmen, Peter von Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=013361467&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Leeds, Michael A. Allmen, Peter von The economics of sports Economische aspecten gtt Sport gtt Sports - Aspect économique Wirtschaft Sports Economic aspects Sportökonomie (DE-588)4207188-4 gnd |
| subject_GND | (DE-588)4207188-4 (DE-588)4123623-3 |
| title | The economics of sports |
| title_auth | The economics of sports |
| title_exact_search | The economics of sports |
| title_full | The economics of sports Michael Leeds ; Peter von Allmen |
| title_fullStr | The economics of sports Michael Leeds ; Peter von Allmen |
| title_full_unstemmed | The economics of sports Michael Leeds ; Peter von Allmen |
| title_short | The economics of sports |
| title_sort | the economics of sports |
| topic | Economische aspecten gtt Sport gtt Sports - Aspect économique Wirtschaft Sports Economic aspects Sportökonomie (DE-588)4207188-4 gnd |
| topic_facet | Economische aspecten Sport Sports - Aspect économique Wirtschaft Sports Economic aspects Sportökonomie Lehrbuch |
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