Sports Economics: Current Research

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John Fizel, Elizabeth Gustafson, Lawrence Hadley
Greenwood Publishing Group, 1999 - Business & Economics - 246 pages
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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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Contents

An Overview
3
The College Football Industry
11
A Test of the Optimal Positive Production Network Externality in Major League Baseball
27
Emerging Markets in Baseball An Econometric Model for Predicting the Expansion Teams New Cities
49
MegaSports Events as Municipal Investments A Critique of Impact Analysis
61
Baseball and Basketball Stadium Ownership and Franchise Incentives to Relocate
75
Alternative Econometric Models of Production in Major League Baseball
95
Technological Change and Transition in the Winning Function for Major League Baseball
109
The Benefit of the Designated Hitter in Professional Baseball
153
Participation in Collegiate Athletics and Academic Performance
161
Did Collusion Adversely Affect Outcomes in the Baseball Players Labor Market? A Panel Study of Salary Determination from 1986 to 1992
175
Baseballs New Collective Bargaining Agreement How Will It Affect the National Pastime?
191
These People Arent Very Big on Player Reps Career Length Mobility and Union Activism in Major League Baseball
203
The Impact of the Salary Cap and Free Agency on the Structure and Distribution of Salaries in the NFL
213
Bibliography
227
Index
239

Streak Management
119
Trading Players in the National Basketball Association For Better or Worse?
135

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About the author (1999)

JOHN FIZEL is Professor of Economics at Pennsylvania State University-Erie. He conducts research in applied microeconomic topics, including nursing home efficiency, oil market pricing, mutual fund performance, CEO and executive compensation, and the economics of sports. He is coeditor, with Elizabeth Gustafson and Lawrence Hadley, of Baseball Economics: Current Research (Praeger, 1996).

ELIZABETH GUSTAFSON is Department Chair and Associate Professor of Economics at the University of Dayton. She teaches microeconomic theory, econometrics, forecasting, and principles of economics. Her research uses econometric techniques to measure economic relationships, most recently in the economics of baseball.

LAWRENCE HADLEY is Associate Professor of Economics at the University of Dayton. He has published articles on efficiency, revenue sharing, and labor markets in major league baseball.

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