Intro to sports econ
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INTRO TO SPORTS ECON. What is Sports Economics? Why Sports Econ? Why now? Branches of Sports Economics Emerging topics in sports economics. Sports Econ. Economics is the study of allocating scarce resources among competing human wants.

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INTRO TO SPORTS ECON

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Intro to sports econ

INTRO TO SPORTS ECON

  • What is Sports Economics?

  • Why Sports Econ? Why now?

  • Branches of Sports Economics

  • Emerging topics in sports economics


Sports econ

Sports Econ.

  • Economics is the study of allocating scarce resources among competing human wants.

  • Sports economics then is the study of allocating scarce resources among competing wants in the context of sports.

    • EX: Competitive Balance in the NFL, MLB etc.


What qualifies as a sport

What qualifies as a Sport?

  • This begs the question what is a sport?

    • As defined by TV coverage? (NFL Vs. Timber-sports, World’s Strongest Man/Woman)

    • Sports as defined by physical exertion, competitive situations? (American Gladiators)

    • What about recreational sports like fishing, hunting, mountain biking etc.


Why sports econ why now

Why Sports Econ.? Why now?

  • The coincidence of several factors has led to the rapid emergence of this exciting field.

    • Eminent scholars (who also happen to be sports fans) looking for new challenges.

    • The availability of sports data.

    • Journal of Sports Economics & The Economics of Sport

    • Public visibility such as stadium funding

    • Student interest & compatibility with student research.


Branches of sports econ

Branches of Sports Econ.

  • Various branches of sports economics have sprung up around the areas of expertise of the scholars that have founded the discipline. For example:

    • Labor economists who turned their attention to sports studied the determinants of wages in various sports.

    • I.O. economists studied issues of competitive balance in various sports.

    • Environmental economists have used CVM to value Sports Teams as a public good.


Branches of sports econ1

Branches of Sports Econ.

Theory of the Firm, Industrial Organization & Sports

  • Theory of the Firm

    • Do sports franchises & TV networks maximize profit?

    • The decision to buy, sell or move a team

  • Monopoly & Antitrust issues

    • Are the NFL, NCAA etc. monopolies/cartels?

    • Is that economically efficient?

  • Competitive Balance & the health of leagues

    • Why is the NFL more competitive than MLB?

  • Formation &decline of leagues

    • NFL Vs. XFL


Branches of sports econ2

Branches of Sports Econ.

Public Finance, Regional Econ. & Sports

  • Who pays for the stadium?

    • Taxes Vs. Bonds

  • Benefits of a team to the host city.

    • Impact studies: Corporate Vs. Academic

  • Team Sale/Relocation

    • Game with multiple rounds


Branches of sports econ3

Branches of Sports Econ.

Labor Economics of Sports

  • Unions, strikes & negotiations. (Game Theory?)

  • Determinants of Wages

  • Economics of Discrimination

  • Hiring& firing team managers, coaches etc.

  • Contracts, incentives & performance


Branches of sports econ4

Branches of Sports Econ.

Consumer Theory & Sports Economics

The Demand for Leisure:

  • Determinants of Game day attendance

  • Determinants of TV ratings

  • Participation in recreational sports such as IM soccer, flag football, golf, winter sports, outdoor activities (fishing, hunting, hiking etc.)


Branches of sports econ5

Branches of Sports Econ.

Economics of Risk & Uncertainty

  • Evaluating player & coaching talent

  • Purchase & sale of teams with “old” stadiums


Branches of sports econ6

Branches of Sports Econ.

Amateur Sports

  • NCAA

  • Olympics


Emerging branches of sports econ

Emerging Branches of Sports Econ.

  • Econometrics/Stats. of winning strategies

  • Sports & Exercise as a habit/addiction

    • Sports & alcohol, performance substances

  • Sports & Gambling

  • Sports & Domestic Violence

  • TV Ratings & sports

  • NASCAR, PRCA, WNBA, MLS

  • Recreational youth sports


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