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Baseball Economics by John L. Fizel,Elizabeth Gustafson,Lawrence Hadley Pdf
This collection of contributions by 14 professional economists analyzes the current economic issues in major league baseball. Most of these issues are related to the recent disputes between owners and players over a collective bargaining agreement and between large-market and small-market owners over revenue sharing. Issues addressed include the impact of the construction of new stadiums and racial discrimination on attendance. In addition, players' salaries, free agency, cost of player development, and arbitration are discussed.
The business of baseball stands in sharp contrast to the game’s wholesome image as America’s favorite pastime. Major league baseball is a deeply troubled industry, facing chronic problems that threaten its future: persistent labor tensions, competitive dominance by high-revenue teams, migration of game telecasts to cable, and escalating ticket prices. Amid the threat of contraction, existing franchises are demanding public subsidies for new stadiums, while viable host cities are begging for teams. The game’s core base of fans is aging, and MLB is doing precious little to attract a younger audience. According to Andrew Zimbalist, these problems have a common cause: monopoly. Since 1922 MLB has benefited from a presumed exemption from the nation’s antitrust laws. It is the only top-level professional baseball league in the country, and each of its teams is assigned an exclusive territory. Monopolies have market power, which they use to derive higher returns, misallocate resources, and take advantage of consumers. Major league baseball is no exception. In May the Best Team Win, Zimbalist provides a critical analysis of the baseball industry, focusing on the abuses and inefficiencies that have plagued the game since the 1990s, when franchise owners appointed their colleague Bud Selig as MLB’s “independent” commissioner.
Handbook on the Economics of Sport by Wladimir Andreff,Stefan Szymanski Pdf
The editors should be commended for taking on such a big task, and succeeding so well. This book should be in the library of every institution where students have to write a paper that may be related to sport, or on the shelf of any lecturer teaching economics or public finance who has even a remote interest in sport. The material is very accessible, and useful in many different settings. Ruud H. Koning, Jahrbücher f. Nationalökonomie u. Statistik Edward Elgar s brilliant market niche is identifying a topic in economics, finding editors who know the area backwards and challenging them to assemble the best cross-section of relevant articles either already published or newly commissioned. Handbook on the Economics of Sport is Edward Elgar at its very best. If you love economics you ll find many fascinating insights here; if you love sport but know little economics then this book is mostly accessible and will teach you a lot; and if you are a sports-mad economist then you will be in hog heaven. Furthermore, if, like this reviewer, you are broadly very sceptical about the reports consultants produce for governments on the supposed economic windfall from hosting a big event or subsidising a stadium then you will get a lot of good counter-arguments in this volume. Indeed there are several chapters on the above theme that I m sure I ll be copying frequently to government officials in years to come. . . The demand for sport is a fascinating subject and it is hard to pick out just one chapter from the second section. Read them all they make a wonderful 65-page treat. . . Part VI was a real feast, a smorgasbord. . . This is a magnificent piece of work and the 36-page index rounds it all off splendidly. John Blundell, Economic Affairs The book covers the most important areas of research of an emerging economic sub-discipline spanning the past half a century. It serves admirably the purpose of an introduction into the rich and growing area of reflection for all concerned. . . the editors and authors of the Handbook have done a commendable job of accumulating sophisticated material for many economists, managers, politicians and self-conscious fans, who are sure to find excellent training ground for the whole heptathlon. . . This book will be invaluable for advanced students investigating professional sport. From the point of view of lawyers, particularly those engaged with the relationship between law and sports governance, the Handbook offers invaluable analysis of the economic issues that are alluded to in those debates but rarely examined in detail. . . These insights will also prove useful for policy analysts and sports administrators for whom many sections should be considered mandatory reading. Aleksander Sulejewicz, Journal of Contemporary European Research Over 800 pages on the economics of sport. What a feast! What a treat! The editors have done a wonderful job both in terms of breadth from David Beckham to child labour in Pakistan and depth, tournaments and luxury taxes for example. . . The 86 chapters are uniformly of a very high standard and illuminating. And there are real gems in some of the contributions. British Journal on the Economics of Sport This very interesting and comprehensive book achieves its objective, namely to present an overview of research in sports economics at an introductory level. . . [The editors] have produced an excellent reference book that belongs in all academic institutions libraries. It provides extensive introduction to the growing body of literature in the rising field of economics of sport. The book s relevant monographs should be read by institutions, cities and countries prior to their committing major resources towards sports facilities or a sporting event. James Angresano, Journal of Sports Economics One could think of this book as the sports-and-economics counterpart to Joy of Cooking, because it will satisfy the needs of those with a keen interest in such subjects as the
Diamond Dollars is a fresh, provocative, insightful, and analytical look at the business of baseball by author Vince Gennaro, a consultant to MLB teams. Gennaro addresses some key questions that affect how teams make decisions, how they assemble their roster, and ultimately, their bottom line: How does winning affect revenues for each team? How much value does a berth in the postseason generate for the Red Sox and Yankees? What is the Yankees’ marginal revenue vs. marginal cost of winning? What is the economic value of a highly productive Twins’ farm system? Why is a player’s value “situational”, depending on the competitiveness of his team and the market in which he plays? How much was Carlos Beltran worth to the Mets in 2006? How can we quantify Derek Jeter’s “marquee value”…his ability to draw fans? What is the relative cost of developing talent vs. buying it in the free agent market? How can we quantify Nomar Garciaparra’s injury risk and its impact on his dollar value? What is the dollar value of Cubs’ fans loyalty to their beloved team? How have the Red Sox, Yankees and Cubs built their team as a brand? How much Babe Ruth was worth to his Yankee teams of the 1920s and 1930s.? Baseball teams may have thought conceptually about some of these issues, but Diamond Dollars gives them the math to measure the effectiveness of their thinking and practices. This edition includes a 2013 preface by the author and a foreword by Jim Beattie, former Executive VP and General Manager of the Baltimore Orioles and Montreal Expos. “Diamond Dollars provides an insightful look at the business of baseball—at the free agent market, teams’ scouting and player development systems, and how clubs market their brands. The book mixes Vince’s business acumen as a top executive at a Fortune 50 company with his passion for the national pastime.” -Mark Attanasio, Chairman and Principal Owner, Milwaukee Brewers “Vince Gennaro shows a profound understanding of the economics of a team’s baseball decisions. His analyses of a team’s win-revenue relationship, the player development system and player valuation, make for a remarkably innovative examination of the baseball front office model that’s just as informative for a baseball executive as for a fan.” -Chris Antonetti, General Manager, Cleveland Indians “Diamond Dollars offers up exciting and stimulating new ideas about the business of baseball. It provides a set of metrics for decisions that have typically been a “gut feeling” for many organizations. I think teams should make this required reading for everyone in their organizations.” -Jim Beattie, former Executive VP and General Manager, Baltimore Orioles and Montreal Expos “Vince Gennaro has written the best book I’ve read on the business of baseball. It serves as both a “how-to manual” for baseball owners and a tour guide for fans who scratch their heads at the things their teams do. It should find plenty of readers in both camps.” -Dave Studenmund, Editor, The Hardball Times Annual
Freakonomics meets Moneyball in this provocative exposé of baseball’s most fiercely debated controversies and some of its oldest, most dearly held myths. Providing far more than a mere collection of numbers, economics professor and popular blogger J.C. Bradbury shines the light of his economic thinking on baseball, exposing the power of tradeoffs, competition, and incentives. Utilizing his own “sabernomic” approach, Bradbury dissects baseball topics such as: • Did steroids have nothing to do with the recent homerun records? Incredibly, Bradbury’s research reveals steroids probably had little impact. • Which players are ridiculously overvalued? Bradbury lists all players by team with their revenue value to the team listed in dollars—including a dishonor role of those players with negative values—updated in paperback to include the 2007 season. • Does it help to lobby for balls and strikes? Statistics alone aren’t enough anymore. This is a refreshing, lucid, and powerful read for fans, fantasy buffs, and players—as well as coaches at all levels—who want to know what is really happening on the field.
The final out of the World Series marks the beginning of baseball's second season, when teams court free agents and orchestrate trades with the hope of building a championship contender. The real and anticipated transactions generate excitement among fans who discuss the merit of moves in the arena informally known as the “hot stove league.” In Hot Stove Economics, economist J.C. Bradbury answers the hot stove league's most important question: what are baseball players worth? With in-depth analysis, Bradbury identifies the game’s best and worst contracts—revealing the bargains, duds, and players who are worth every penny they receive. From minor-league prospects to major-league MVPs, Bradbury examines how factors such as revenue growth, labor rules, and aging— even down to the month in which players are born—shape players' worth and evaluates how well franchises manage their rosters. He broadly applies the principles of economics to baseball in a way that is both interesting and understandable to sports fanatics, team managers, armchair economists and students alike.
This book explores the unique relationships between professional baseball teams and the unique ways professional baseball leagues are organized in North America with a primary focus on how proximity can and does impact consumer demand. Perhaps more than any other matter that arises in the business of baseball, proximity to other professional baseball teams is a concern that has uniquely shaped professional baseball leagues in North America. It is this particular component in how professional baseball leagues are organized that suggests building a proximity-based approach to studying the economics of minor league baseball. This book opens up new ways to study minor league baseball, specifically, and sports leagues more generally. So even as advanced technology has eliminated some of the need for fans to be in close proximity to the teams they love to follow, there is still a need to understand more completely how proximity matters can impact the way professional baseball leagues are structured and how that structure can ultimately impact the quality of the games that entertain sports fans everywhere. This book will be of interest to both sports economists and practitioners.
Author : Arthur T. Johnson Publisher : University of Illinois Press Page : 298 pages File Size : 47,9 Mb Release : 1995 Category : Minor league baseball ISBN : 0252065026
Minor League Baseball and Local Economic Development by Arthur T. Johnson Pdf
Sport, including minor league baseball, is an object of public policy. Communities can exploit it to promote economic and social well-being, but not without risk. Drawing on case studies of fifteen locales including Fresno, Birmingham, Durham, Buffalo, Indianapolis, and Colorado Springs, Arthur Johnson systematically analyzes the political process by which communities decide to invest in stadiums for minor league baseball teams. He explores such factors as the presence or absence of a development strategy as a guide in decision making, and the value to a community of a minor league team and its stadium. Johnson also describes the dynamics of minor league baseball franchise relocation, the importance of intergovernmental relations to stadium financing, and the organization and business of minor league baseball, including its formal relationship with major league baseball.
Sports Economics by John L. Fizel,Elizabeth Gustafson,Lawrence Hadley Pdf
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.
The Oxford Handbook of Sports Economics Volume 1 by Leo H. Kahane,Stephen Shmanske Pdf
Shmanske and Kahane have organized over 50 essays from prominent Sports Economists into two volumes around two related themes. This second volume explains how sports helps economics via quality data used to test a variety of economic theories.
The Oxford Handbook of Sports Economics: Volume 1: The Economics of Sports by Leo H. Kahane,Stephen Shmanske Pdf
Stephen Shmanske and Leo Kahane have brought together nearly all of the important authors in the quickly growing field of Sports Economics to contribute chapters to this two-volume set. The result is truly informative in its content and path breaking in its importance to the field. Anyone contemplating research in the field of sports economics will find the works in these volumes to provide both ample background in subject after subject and numerous suggestions for future avenues of research. The editors have recognized two ways that economics and sports interact. First, economic analysis has helped everyone understand many of the peculiar institutions in sports. And second, quality data about individual productivity, salaries, career histories, teamwork, and managerial behavior has helped economists study topics as varied as the economics of discrimination, salary dispersion, and antitrust policy. These two themes of economics helping sports and sports helping economics provide the organizational structure to the two-volume set. The reader will find that sports economists employ or comment on practically every field in economics. Labor Economics comes into play in the areas of salary formation, salary dispersion, and discrimination. Baseballs history and the NCAA are studied with Industrial Organization and Antitrust. Public Finance and Contingent Value Modeling come into play in the study of stadium finance and franchise location. The Efficient Market Hypothesis is examined with data from gambling markets. Macroeconomic effects are studied with data from mega events like the Super Bowl, The World Cup, and the Olympics. The limits of Econometrics are pushed and illustrated with superb data in many of the papers herein. Topics in Applied microeconomics like demand estimation and price discrimination are also covered in several of the included papers. Game Theory, measurement of production functions, and measurement of managerial efficiency all come into play. Talented authors in each of these fields have made contributions to these volumes. The volumes are also rich from the point of view of the sports fan. Every major team sport is covered, and many interesting comparisons can be made especially between the North American League organization and the European-style promotion and relegation leagues. Golf, NASCAR, College athletics, Womens sports, the Olympics, and even bowling are represented in these pages. There is literally something for everyone.
Sports Economics, the most comprehensive textbook in the field by celebrated economist Roger D. Blair, focuses primarily on the business and economics aspects of major professional sports and the NCAA. It employs the basic principles of economics to address issues such as the organization of leagues, pricing, advertising and broadcasting as well as the labor market in sports. Among its novel features is the candid coverage of the image and integrity of players, teams, managers and the leagues themselves, including cases of gambling, cheating, misconduct and steroids. Blair explains how economic decisions are made under conditions of uncertainty using the well-known expected utility model and makes extensive use of present value concepts to analyze investment decisions. Numerous examples are drawn from the daily press. The text offers ample boxes to illustrate sports themes, as well as extensive use of diagrams, tables, problem sets and research questions.
Handbook of Sports Economics Research by John Fizel Pdf
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.
The World of Economics by John Eatwell,Murray Milgate,Peter Newman Pdf
What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
The Oxford Handbook of Sports Economics Volume 2 by Leo H. Kahane,Stephen Shmanske Pdf
Shmanske and Kahane have organized over 50 essays from prominent Sports Economists into two volumes around two related themes. This second volume explains how sports helps economics via quality data used to test a variety of economic theories.
