Sports Economics

ISBN-10: 0131704214
ISBN-13: 9780131704213
Edition: 2nd 2007 (Revised)
Authors: Rodney D. Fort
List price: $206.67 Buy it from $9.38
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Book details

List price: $206.67
Edition: 2nd
Copyright year: 2007
Publisher: Prentice Hall PTR
Publication date: 1/31/2006
Binding: Hardcover
Pages: 552
Size: 7.75" wide x 9.50" long x 1.00" tall
Weight: 2.244
Language: English

Preface
Warm-Up: The Business of Sports
Putting the Business of Sports in Perspective
Sports Really Are Big Business
Befuddled Fans
Player Skepticism and Owner Exasperation
Demand, Supply, and Sports Market Outcomes
Demand and Sports Revenue
Scarcity in Sports
Demand Theory in Sports
Lessons from Demand
Market Power
Willingness to Pay and Consumers' Surpluses
Price Elasticity, Total Revenue, and Marginal Revenue
Lessons from Total and Marginal Revenue
Elasticity and Price Discrimination
Revenue Data
The Market for Sports Broadcast Rights
Setting the Stage: The Media in Sports
Ads and Preference Formation
Basics of the Sports Broadcast Rights Market
Sports Leagues and Their Broadcast Rights
Media Provider Ownership of Sports Teams
Firms and Their Advertising Choice
Extending the Definition of the MRP of Ads from the Advertiser's Perspective
The Beer Wars
Sponsorship
Big Rights Money and Its Impacts
Team Cost, Profit, and Winning
Profit Maximizing Owners?
The Short Run Versus the Long Run
Short-Run Production and Costs
Long-Run Production and Costs
Profit Analysis
Profits and Quality Choice in the Long Run
Real-World Case Study: The San Antonio Spurs
Sports Market Outcomes, Part I: Leagues, Team Location, Expansion, and Negotiations
Why Leagues? Making Play and Profits
Territory Definition and Protection
Expansion and Relocation
Negotiations
Sports Market Outcomes, Part II: Leagues and Competitive Balance
Competitive Imbalance
Remedies for Competitive Imbalance
The Market for Talent and Labor Relations
The Value of Sports Talent
The Value of Athletes
The Marginal Revenue Product Explanation
Equilibrium in the Talent Market: Graphical Analysis
Real-World MRP Insights
The Value of Athletes: Special Cases
Discrimination in Pay and Hiring: Introduction
Economic Findings on Pay Discrimination
Discrimination in Hiring
The History of Player Pay
Restricting Competition over Talent
Restricting Competition over Incoming Players: The Draft
Restricting Competition over League Players: The Reserve. Clause
The Value of Reduced Competition over Players
What About Competitive Balance?
Labor Relations in Pro Sports
Modern Sports Labor Relations
Union Goals, Organizational Problems, and Governance
Basic Bargaining: Game Theory
Work Stoppages
Labor Relations in MLB
Labor Relations in the NBA
Labor Relations in the NFL
Labor Relations in the NHL
Government and the Sports Business
Subsidies and Economic Impact Analysis
The Logic of Sports Team Subsidies
Cost-Benefit Analysis Concepts in Sports
Estimates of Subsidy Costs
Estimates of Subsidy Benefits
Are the Costs of Subsidies Worth It?
The Stadium Mess
Rational Actor Explanations in Politics: General Insights
Owners as Beneficiaries of Rational Actor Subsidy Politics
The Role of Leagues in Rational Actor Subsidy Politics
The Stadium Mess Explained
Direct Democracy and the Stadium Mess
First Down and $782 Million to Go in Seattle
Altering the Politics of Stadium Subsidies
Taxes, Antitrust, and Competition Policy
Taxes
Antitrust
The Impacts of Special Tax and Antitrust Status
Rational Actor Politics, Taxes, and Antitrust
Competition Policy
College Sports
College Sports
College Sports Really Are Big Business
Demand and College Sports Revenue
The Market for College Sports Broadcasts
Cost, Profits, and Quality
Sports Market Outcomes: Athletic Departments, Conferences, and the NCAA
Sports Market Outcomes: Competitive Balance
The Value of College Sports Talent
A Synopsis of Remaining Issues
Glossary
Index

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