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Sports economics is a well-established and dynamic area of study; a key component in the fields of sport management, sport science and sport studies, as well as in other areas of economics, finance and management. Covering amateur to professional sports, individual events and organised tournaments, this Handbook provides an authoritative contribution to the understanding of sport in the economy. The editors of The SAGE Handbook of Sports Economics have brought together a global team of respected scholars to create this benchmark collection of insights into sports economics. Each chapter includes a study of a specific context in which issues arise in sports economics, a critical presentation of its main theoretical contributions, an overview of current research findings, and an outline of enquiry for future research. PART I: The Nature and Value of the Sports System and Economy PART II: Amateur Sports Participation, Supply and Impact PART III: Professional Team Sports PART IV: Professional Sports Leagues PART V: Sports Events and their Impacts PART VI: Individual Sports PART VII: Future Research
From professional team sports to international events such as the Olympics and Tour de France, the modern sports industry continues to attract a large number of spectators and participants. This book, edited by Richard Pomfret and John K. Wilson analyzes the economic evolution of sports over the last 150 years, from a pastime activity to a big business enterprise. It begins at a time when entrepreneurs and players first started making money from professional sports leagues, through to the impact of radio and TV in the twentieth century, and onto the present day.
This thoroughly updated second edition of the Encyclopedia of Sport Management is an authoritative reference work that provides detailed explanations of critical concepts within the field.
For decades, sports economics has been set within the framework of equilibrium economics, in particular when modelling team sport leagues. Based on a conviction that this does not reflect real life, this book addresses a gap in the literature and opens up a new research area by applying concepts drawn from disequilibrium economics. It is divided into two parts, the first of which focuses on economic disequilibrium in sports markets and competitive imbalance in sporting contests. The second part concentrates on soft budget constraints and their consequences for club governance and management.
'. . . this is a fascinating and informative volume and the bulk of it is accessible to readers without an economics background. It will be of interest to students of sport and the media and those interested in the commercialisation of leisure in general.' - A.J. Veal, Leisure Studies
From the Olympics to the World Cup, mega sporting events are a source of enjoyment for tens of thousands, but can also be a source of intense debate and controversy. This insightful new Handbook addresses a number of central questions, including: How are host cities selected and under what economic conditions? How are these events organized, and how is local resistance overcome? Based on historical and empirical experience, what are the pitfalls for the organizers of these events? What are the potential economic benefits, including any international image effects? How can the costs be minimized and the benefits maximized for host cities and countries? How do these mega events impact the challenges of globalization and what is their environmental legacy? Compiled and edited by two internationally renowned sports economists, the expert contributions elaborate on the specific mechanisms of the bid processes, analyse the determining factors of winning bids, and illustrate how to construct future bid campaigns. Underpinned by case studies from four continents and by theoretical considerations, the reasons for seemingly systemic cost overruns are explored and analysed, as are the effects on national and regional employment and income, property values, non-traditional economic variables (such as psychological and marketing benefits) and urban branding and transformation. The Handbook also reflects on important elements of design of the games in order to better plan, prepare and allocate resources – including, for example, sustainability issues and the use of campaigns to secure positive perceptions. This book provides an up-to-date analysis of the financing and economic impact of mega sporting events, as well as a full discussion of how host cities can maximize the benefits from their experience. As such, it will prove a fascinating read for academics, students, researchers and policymakers with an interest in economics and public sector economics generally, and more specifically, in the economics of sport.
Written by some of the most prominent scholars in sports economics, this book focuses on issues that have been less investigated in the traditional literature so far. The covered topics range from specific questions of sport governance and sport finance to sport betting. In my view, the collection is a must for all readers seeking to overstep the beaten track. Egon Franck, University of Zurich, Switzerland The development of sports economics has exploded in recent years, and this well-researched and relevant book explores some of the most critical themes. Contemporary Issues in Sports Economics examines topics that have previously received little attention in the literature, such as the determinants and social impacts of sports participation including the link to crime levels. The distinguished authors also discuss some of the less investigated aspects of professional team sports, including: sports betting, financing and governance; the impact of low scoring matches on competitive balance and fan appeal in European football; and the effect on player transfers of a luxury tax on club payrolls in Major League Baseball. This invaluable book will appeal to graduate and postgraduate students in sports economics, sport management and sport sciences, as well as managers and coaches involved with clubs, leagues and federations. Sports participants, fans, bookmakers and bettors will also find much to interest them in this unique and insightful study.
The wealth of data available on sports makes the industry a singular laboratory for observing economic and business behavior and theory. This unique reference on sports economics research provides a detailed perspective on the current state of the discipline. Covering both team and individual sports that include tennis, golf, and motor racing, the handbook explores what we know, what we do not know, what is stable, what is changing, what is certain, and what is controversial in sports economics. The expert contributors address issues in particular sports or comparisons among sports along major topics such as revenue and costs, labor markets, market structure, market outcomes, and public policy.