The economics of professional team sports

목차 (Table of Contents)

• CONTENTS
• List of figures = ⅸ
• List of tables = xi
• Acknowledgements = xiii
• 1 Introduction = 1
• Why are professional team sports of interest to economists? = 1
• The need for a textbook = 3
• Economic methodology = 5
• Summary of chapters = 6
• SECTION A : The market, industry and firm in professional team sports = 11
• 2 The market structure of professional team sports leagues : general themes = 13
• Introduction = 13
• Market structures : a brief overview = 13
• Externalities = 18
• The peculiar economics of sport = 20
• The uncertainty of outcome hypothesis as an organising principle = 21
• Conclusions = 25
• Discussion questions = 25
• 3 The market structure of professional team sports leagues : the firm in professional team sports = 27
• Introduction = 27
• Club objectives : profit maximisation versus utility maximisation = 27
• Sporting leagues as cartels = 31
• Coping with interdependence : cartel or monopoly? = 32
• Cartel-based explanations of sporting league developments = 36
• Conclusions = 40
• Discussion questions = 40
• 4 Cross-subsidisation in professional team sports leagues = 42
• Introduction = 42
• The rationale for cross-subsidisation = 43
• Cross-subsidisation policies = 46
• An economic framework for understanding cross-subsidisation = 49
• Empirical evidence on competitive balance = 53
• Empirical evidence on the effects of cross-subsidisation policies = 56
• The Coase theorem and professional team sports leagues = 58
• Conclusion = 60
• Appendix 4.1 : measuring competitive balance in sporting leagues = 61
• Appendix 4.2 : competitive balance in sporting leagues under revenue sharing = 64
• Discussion questions = 65
• SECTION B : The demand for professional team sports = 67
• 5 Theoretical and empirical issues = 69
• Introduction = 69
• The theory of demand = 69
• The utility function = 70
• The budget constraint = 71
• Modelling demand : regression analysis = 75
• Measuring demand : some key conceptual and data issues = 86
• Case study : Scottish professional football and the uncertainty of outcome hypothesis = 90
• Conclusions = 94
• Appendix 5.1 : problems of measuring habit persistence = 94
• Discussion questions = 99
• 6 Traditional findings and new developments = 100
• Introduction = 100
• The traditional emphasis of demand studies = 100
• Major findings in the literature : sporting versus economic determinants of demand = 102
• The long-run determinants of demand : culture, habit persistence and economic effects revisited = 117
• Conclusions = 123
• Appendix 6.1 : time-series econometrics, error correction models and cointegration = 124
• Discussion questions = 129
• 7 The uncertainty of outcome hypothesis : theoretical and empirical issues = 130
• Introduction = 130
• The nature of uncertainty of outcome = 131
• Conclusions = 148
• Appendix 7.1 : some properties of uncertainty of outcome indicators = 149
• Discussion questions = 155
• 8 Broadcast demand and the impact of television = 157
• Introduction = 157
• A brief history of televised sport : the US and UK = 157
• The economics of broadcasting and sport = 163
• Television and the demand for professional team sports = 164
• Television and competitive balance = 168
• Potential changes in league structure : European Super League = 170
• The evolution of the media market = 173
• Conclusions = 178
• Discussion questions = 178
• SECTION C : The labour market in professional team sports = 181
• 9 The traditional view : theory and evidence = 183
• Introduction = 183
• Some benchmark economic concepts of labour markets : the case of perfect competition = 183
• Theories of player labour markets = 186
• Case study : US baseball = 189
• Conclusions = 200
• Appendix 9.1 : the principles of derived demand = 200
• Discussion questions = 202
• 10 Recent developments : theory and evidence = 203
• Introduction = 203
• The move to increased player power : the rise of free agency in the US = 203
• Free agency in the UK and the Bosman ruling = 206
• Implications of free agency for professional team sports = 209
• The players' labour market = 209
• Bargaining theory = 210
• Empirical findings = 213
• Implications of free agency for league policy = 222
• Conclusions = 224
• Appendix 10.1 : the Nash bargaining model = 224
• Appendix 10.2 : human capital theory = 225
• Appendix 10.3 : a model of final-offer arbitration = 231
• Discussion questions = 233
• 11 Conclusions = 235
• A brief review of chapters = 235
• Evaluation of the Louis - Schmeling paradox／uncertainty of outcome hypothesis = 237
• Implications for future research = 238
• Bibliography = 239
• Index = 245