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1. Economics and Sports Introduction
1. 1The Organization of the Text
1.
2 Babe Ruth and Comparative Advantage Summary Discussion Questions Problems
2. Review of the Economist's Arsenal Introduction
2.
1 The Supply and Demand Model
2.
2 Producing Output and the Production Function.
2.
3 Market Structures: From Perfect Competition to Monopoly
2.
4 The Rise of Professional Sports Summary Discussion Questions Problems APPENDIX 2A 2A.
1 Constrained Maximization 2A.
2 Using Indifference Curves and Budget Constraints: The Rise of Soccer and Baseball APPENDIX 2B
3. Sports Franchises as Profit-Maximizing Firms Introduction
3.
1 Maximizing Profits or Maximizing Wins?
3.
2 A Closer Look at Revenues, and Costs
3.
3 Taxes, Profit, and Owner Behavior
3.
4 The Importance of Leagues
3.
5 Soccer's Alternative Business Model Summary Discussion Questions Problems
4. Monopoly and Antitrust Introduction
4.
1 What's Wrong with Monopoly?
4.
2 Strategic Pricing and Price Discrimination
4.
3 What's Right with Monopoly?
4.
5 Society's Response to Monopoly and Monopsony: Antitrust Laws
4.
6 The NCAA: An Incidental Cartel
4.
7 Prisoner's Dilemma: How Rational Actions Lead to Irrational Outcomes Summary Discussion Questions Problems APPENDIX 4A
5. Competitive Balance Introduction
5.
1 Why Fans and Owners Want Competitive Balance
5.
2 Measuring Competitive Balance
5.
3 Attempts to Alter Competitive Balance Summary Discussion Questions Problems
6. The Public Finance of Sports: Who Benefits and How? Introduction
6.
1 How How Teams Benefit from New Facilities
6.
2 How Fans Benefit from a New Facility
6.
3 How Cities Benefit from Teams, Facilities, and Events Summary Discussion Questions Problems
7. The Public Finance of Sports: Who Pays and Why? Introduction
7.
1 How Cities Came to Fund Stadiums
7.
2 How Teams Exploit Monopoly Power
7.
3 Stadium Location and Costs
7.
4 Stadium Costs and Financing
7.
5 Paying for Stadiums Summary Discussion Questions Problems
8. An Introduction to Labor Markets in Professional Sports Introduction
8.
1 An Overview of Labor Supply and Labor Demand
8.
2 The Economics of Tournaments and Superstars
8.
3 Tournaments, Cheating, and the Distribution of Income Summary Discussion Questions Problems APPENDIX 8A
9. Labor Market Imperfections Introduction
9.
1 The Monopsony Power of Sports Leagues
9.
2 Unions in Professional Sports
9.
3 Labor Conflict and Compromise in Collective Bargaining Summary Discussion Questions Problems
10. Discrimination Introduction
10.
1 Becker's Theory of Labor Discrimination
10.
2 Different Forms of Discrimination in Professional Sports
10.
3 Title IX and Discrimination in College Sports Summary Discussion Questions Problems
11. The Economics of Amateurism and College Sports Introduction
11.
1 The Troublesome Concept of Amateurism
11.
2 The Costs and Benefits of College Athletics
11.
3 The Role of the NCAA
11.
4 The Returns to the Athlete Summary Discussion Questions Problems