The sports industry presents many unusual and interesting
opportunities for the application of economic theory and
econometrics. In 15 professional papers, this book addresses
current economic issues in the industry, including the problem of
competitive balance, the location of professional sports teams and
their impact on local communities, managerial decision making, and
issues related to labor markets. Extending the previous research in
sports economics, the papers reflect the most recent applications
of economic theory in this area. The book will be a valuable
resource for professional economists working on sports economics
topics.
In two opening chapters on competitive balance, the contributors
develop a model for college football and examine the impact of
balance on attendance in major league baseball. In a section on the
location of professional sports teams, the chapters then develop a
model to predict the location of expansion teams, make econometric
estimates of the impact of Super Bowls on the host city, and
analyze the ownership of stadiums and arenas. Managerial decision
making is discussed in chapters that examine alternative
econometric models of production in baseball, use a production
function model to analyze technological change in Major League
Baseball, examine the management of team streaks, consider the
competitive balance between American and National Leagues, analyze
the efficiency of player trades in the National Basketball
Association, and estimate the impact of participation in
inter-collegiate sports on academic performance. In the final
section on labor markets, the contributors estimate the impact of
owner collusion on baseball players' salaries, consider the impact
of the new collective bargaining agreement in Major League
Baseball, analyze the impact of being a union representative, and
examine the impact of the National Football League's salary cap on
player's salaries.
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