The Oxford Handbook of Sports Economics Volume 1: The Economics of Sports

by Kahane, Leo H.; Shmanske, Stephen

• ISBN13: 9780195387773
• ISBN10: 0195387775
• Format: Hardcover
• Copyright: 2012-04-13
• Publisher: Oxford University Press

Summary

Stephen Shmanske and Leo Kahane have brought together nearly all of the important authors in the quickly growing field of Sports Economics to contribute chapters to this two-volume set. The result is truly informative in its content and path breaking in its importance to the field. Anyone contemplating research in the field of sports economics will find the works in these volumes to provide both ample background in subject after subject and numerous suggestions for future avenues of research. The editors have recognized two ways that economics and sports interact. First, economic analysis has helped everyone understand many of the peculiar institutions in sports. And second, quality data about individual productivity, salaries, career histories, teamwork, and managerial behavior has helped economists study topics as varied as the economics of discrimination, salary dispersion, and antitrust policy. These two themes of economics helping sports and sports helping economics provide the organizational structure to the two-volume set. The reader will find that sports economists employ or comment on practically every field in economics. Labor Economics comes into play in the areas of salary formation, salary dispersion, and discrimination. Baseball's history and the NCAA are studied with Industrial Organization and Antitrust. Public Finance and Contingent Value Modeling come into play in the study of stadium finance and franchise location. The Efficient Market Hypothesis is examined with data from gambling markets. Macroeconomic effects are studied with data from mega events like the Super Bowl, The World Cup, and the Olympics. The limits of Econometrics are pushed and illustrated with superb data in many of the papers herein. Topics in Applied microeconomics like demand estimation and price discrimination are also covered in several of the included papers. Game Theory, measurement of production functions, and measurement of managerial efficiency all come into play. Talented authors in each of these fields have made contributions to these volumes. The volumes are also rich from the point of view of the sports fan. Every major team sport is covered, and many interesting comparisons can be made especially between the North American League organization and the European-style promotion and relegation leagues. Golf, NASCAR, College athletics, Women's sports, the Olympics, and even bowling are represented in these pages. There is literally something for everyone.

Table of Contents

Contributors	p. ix
Preface to Volume One	p. xi
Economics of Leagues and Contest Design
Economics of League Design: Open versus Closed Systems	p. 3
Competitive Balance	p. 18
Club Objectives, Competitive Balance, and the Invariance Proposition	p. 38
Theory of the Big Dance: The Playoff Pay-off in Pro Sports Leagues	p. 51
Economics of Major League Sports
Baseball
Baseball's Antitrust Exemption: History and Current Relevance	p. 81
The Reserve Clause and Labor Mobility	p. 97
Basketball
Salary Caps and Luxury Taxes	p. 117
International Labor Mobility and the National Basketball Association	p. 137
Hockey
The Demand for Violence in Hockey	p. 159
Hockey: Game Design and Overtime	p. 177
Football
Field Position and Strategy in American Football	p. 197
Network Television Revenue Sharing and Competitive Balance in the NFL	p. 223
Competing Leagues, Mergers, and Expansions	p. 246
Soccer
The Bosman Ruling and Labor Mobility in Football (Soccer)	p. 259
Labor Supply and Human Capital Formation in Professional Team Sports: Evidence from the FA Premier League	p. 281
Economics of Other Sports
Remembering Three Economic Studies on Professional Golf	p. 301
The Economics of NASCAR	p. 318
Economics of College Sports
To Be or Not to Be: The NCAA as a Cartel	p. 339
What Does Intercollegiate Athletics Do to or for Colleges and Universities?	p. 349
Is March Madness Contagious? Post-Season Play and Attendance in NCAA Division I Basketball	p. 373
Gender Equity, in Intercollegiate Athletics: Economic Considerations and Possible Fixes	p. 404
Economics of Mega Events
Economics of the Olympics	p. 425
The Economics of the World Cup	p. 449
Economics of the Super Bowl	p. 470
Economics of Refereeing
Career Duration in Professional Football: The Case of German Soccer Referees	p. 487
Index	p. 501
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