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What keeps fans watching sports night after night, season after season? Competitive balance. Part of the fun for the average fan watching sports is not knowing what is going to happen or what team will win. If the best team won its respective championship every single year, sports would not be worth watching. Competitive balance is what keeps fans engaged even when the odds are stacked against a particular team. Now, the NHL, NFL, NBA, and MLB have utilized their own policies to increase competitive balance, and none is more popular than implementing a salary cap. This effectively acts as a price ceiling for teams to spend on their payrolls, ensuring that teams in small markets can compete with teams in big markets that have more resources, like New York or Los Angeles, for example. But, it is not a given that salary caps automatically improve competitive balance. This thesis develops on prior research to assess whether salary caps influence competitive balance in the NHL, NFL, NBA, and MLB by using Brad R. Humphreys' Competitive Balance Ratio as the primary method to measure parity in each league.
Why would a Japanese millionaire want to buy the Seattle Mariners baseball team, when he has admitted that he has never played in or even seen a baseball game? Cash is the answer: major league baseball, like professional football, basketball, and hockey, is now big business with the potential to bring millions of dollars in profits to owners. Not very long ago, however, buying a sports franchise was a hazardous investment risked only by die-hard fans wealthy enough to lose parts of fortunes made in other businesses. What forces have changed team ownership from sports-fan folly to big-business savvy? Why has The Wall Street Journal become popular reading in pro sports locker rooms? And why are sports pages now dominated by economic clashes between owners and players, cities with franchises and cities without them, leagues and players' unions, and team lawyers and players' lawyers? In answering these questions, James Quirk and Rodney Fort have written the most complete book on the business and economics of professional sports, past and present. Pay Dirt offers a wealth of information and analysis on the reserve clause, salary determination, competitive balance in sports leagues, the market for franchises, tax sheltering, arenas and stadiums, and rival leagues. The authors present an abundance of historical material, much of it new, including team ownership histories and data on attendance, TV revenue, stadium and arena contracts, and revenues and costs. League histories, team statistics, stories about players and owners, and sports lore of all kinds embellish the work. Quirk and Fort are writing for anyone interested in sports in the 1990s: players, players' agents, general managers, sportswriters, and, most of all, sports fans.
For undergraduate courses in sports economics, this book introduces core economic concepts developed through examples from the sports industry. The sports industry provides a seemingly endless set of examples from every area of microeconomics, giving students the opportunity to study economics in a context that holds their interest. The Economics of Sports explores economic concepts and theory of industrial organization, public finance, and labor economics in the context of applications and examples from American and international sports.
The Wages of Wins is a proper analysis of the data generated by professional sports; it tells many tales that are inconsistent with the myths put forward by the media, industry, and consumers of professional sport.
The study of baseball history and culture shows the national pastime to be a forum of debate where issues of sport, labor, race, character and the ethics of work and play are decided. An understanding of baseball calls for consideration of different perspectives. This very readable textbook offers insights into baseball history as a subject worthy of scholarly attention. Each chapter introduces a specific disciplinary approach--history, economics, media, law and fiction--and poses representative questions scholars from these fields would consider. Instructors considering this book for use in a course may request an examination copy here.
Analyses the theory of professional team sports. This book explores the special characteristics of the industry, analysing the product and player labour market under both the profit- and win-maximisation hypothesis. It investigates the impact of different league regulations such as the transfer system, revenue sharing arrangements and salary caps.
Michael Lewis’s instant classic may be “the most influential book on sports ever written” (People), but “you need know absolutely nothing about baseball to appreciate the wit, snap, economy and incisiveness of [Lewis’s] thoughts about it” (Janet Maslin, New York Times). One of GQ's 50 Best Books of Literary Journalism of the 21st Century Just before the 2002 season opens, the Oakland Athletics must relinquish its three most prominent (and expensive) players and is written off by just about everyone—but then comes roaring back to challenge the American League record for consecutive wins. How did one of the poorest teams in baseball win so many games? In a quest to discover the answer, Michael Lewis delivers not only “the single most influential baseball book ever” (Rob Neyer, Slate) but also what “may be the best book ever written on business” (Weekly Standard). Lewis first looks to all the logical places—the front offices of major league teams, the coaches, the minds of brilliant players—but discovers the real jackpot is a cache of numbers?numbers!?collected over the years by a strange brotherhood of amateur baseball enthusiasts: software engineers, statisticians, Wall Street analysts, lawyers, and physics professors. What these numbers prove is that the traditional yardsticks of success for players and teams are fatally flawed. Even the box score misleads us by ignoring the crucial importance of the humble base-on-balls. This information had been around for years, and nobody inside Major League Baseball paid it any mind. And then came Billy Beane, general manager of the Oakland Athletics. He paid attention to those numbers?with the second-lowest payroll in baseball at his disposal he had to?to conduct an astonishing experiment in finding and fielding a team that nobody else wanted. In a narrative full of fabulous characters and brilliant excursions into the unexpected, Michael Lewis shows us how and why the new baseball knowledge works. He also sets up a sly and hilarious morality tale: Big Money, like Goliath, is always supposed to win . . . how can we not cheer for David?
Examines the many economic pressures exerted on professional baseball, and measures their effects both on the field and in the ticket office
All over the world, soccer is known as “the Beautiful Game” and is the most popular sport. But in the United States, professional soccer still has a hard time catching on. It has had some successes here. The American Soccer League of the 1920s, Pélé and other international stars in the North American Soccer League's glamorous 1970s, the indoor soccer phenomenon of the 1980s, and the U.S. women's win in the Women's World Cup of 1999 all hinted that the American public is ready to embrace pro soccer. In its short history, Major League Soccer (MLS) has survived and even started to thrive, drawing steady crowds and loyal fans. In Long-Range Goals, Beau Dure profiles teams and players, including D.C. United, the Los Angeles Galaxy, Landon Donovan, Freddy Adu, and Coach Bruce Arena, who are all vital to MLS. Some of the triumphs include an expansion of the league and its ownership group, the contribution of MLS players to a strong U.S. World Cup showing in 2002, and the construction of soccer stadiums nationwide. At the same time, MLS has occasionally stumbled, during costly legal battles with players and seeing two teams fold, but its investors have remained strong, figured out how to make money, and support the league. From the league's formation in 1993 to the David Beckham era, this book reveals all the action on and off the pitch: the politics, the lawsuits, the management of its teams, and the savvy business deals that helped MLS rebound. It also revels in the big personalities of its stars, the grace of its utility players, and the obstacles the league faces in meeting its long-range goals.
This book expands on the argument that spectator sports, despite their problems, have become a central function of American universities.