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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.
List of contents
Preface
IntroductionAn Overview of Sports Economics: Current Research by John Fizel, Elizabeth Gustafson, and Lawrence Hadley
Sports Leagues and MarketsThe College Football Industry by Rodney Fort and James Quirk
A Test of the Optimal Positive Production Network Externality in Major League Baseball by Daniel Rascher
The Location of Teams and StadiumsEmerging Markets in Baseball: An Econometric Model for Predicting the Expansion Teams' New Cities by Thomas H. Bruggink and Justin M. Zamparelli
Mega-Sports Events as Municipal Investments: A Critique of Impact Analysis by Philip Porter
Baseball and Basketball Stadium Ownership and Franchise Incentives to Relocate by Gerard C. S. Mildner and James G. Strathman
Managerial Decisions: Inputs and OutputsAlternative Econometric Models of Production in Major League Baseball by Elizabeth Gustafson, Lawrence Hadley, and John Ruggiero
Technological Change and Transition in the Winning Function for Major League Baseball by Thomas H. Bruggink
Streak Management by Rodney Fort and Robert Rosenman
Trading Players in the National Basketball Association: For Better or Worse? by David J. Berri and Stacey L. Brook
The Benefit of the Designated Hitter in Professional Baseball by Craig A. Depken, II
Participation in Collegiate Athletics and Academic Performance by John Fizel and Timothy Smaby
Labor Market Issues in Professional Team SportsDid Collusion Adversely Affect Outcomes in the Baseball Players' Labor Market?: A Panel Study of Salary Determination from 1986 to 1992 by Timothy Hylan, Maureen Lage, and Michael Treglia
Baseball's New Collective Bargaining Agreement: How Will It Affect the National Pastime? by Daniel Marburger
"These People Aren't Very Big on Player Reps": Career Length, Mobility, and Union Activism in Major League Baseball by Donald Coffin
The Impact of the Salary Cap and Free Agency on the Structure and Distribution of Salaries in the NFL by Sandra Kowalewski and Michael A. Leeds
Bibliography
Index.
About the author
JOHN FIZEL is Professor of Economics and Chair of the iMBA program at Penn State University. He conducts research in applied microeconomic topics that have included online auctions, nursing home efficiency, and the economics of sports. He is co-editor of
Baseball Economics (Praeger, 1996) and
Sports Economics (Praeger, 1999).
RODNEY FORT is Professor of Economics at Washington State University. The author of dozens of articles and monographs on sports economics, he serves on the editorial board of the
Journal of Sports Economics. He is a regular speaker and panel participant on sports issues in the United States and Europe, and he has testified before the U.S. Senate on competitive balance issues and often renders expert opinion in legal cases in the United States.
