This work uses economic theory, simple probability, statistical concepts and game theory to analyze the economics of professional sports. It treats sports leagues as cartels and uses historical examples to test theories regarding labor economics. Many key issues that have sparked raging arguments among fans and writers are addressed, including free agency’s effect on competitive balance, how rising player salaries have/haven’t affected ticket prices, and the effect of a new stadium on the local economy, among many others.
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David George Surdam is an associate professor of economics at the University of Northern Iowa. He has published books on the economics of the American Civil War and Major League Baseball during the postwar era.

David George Surdam
Format: softcover (6 x 9)
Pages: 204
Bibliographic Info: notes, bibliography, index
Copyright Date: 2010
pISBN: 978-0-7864-6057-1
eISBN: 978-0-7864-6227-8
Imprint: McFarland

Preface and Acknowledgments      1
Introduction      5

1. Why Economists Are Not Like Most People      7
2. Sports Numeracy      37
3. Game Theory Applied to Sports      57
4. Demand for Games and Profitability      83
5. Competitive Balance, Player Movement, and the Reserve Clause      109
6. Will Revenue Sharing Enhance Parity?      131
7. Why Professional Athletes Make Big Bucks      139
8. Discrimination in the World of Sports      152
9. Keeping Out the Riff-Raff      162

Conclusion      179
Chapter Notes      183
Bibliography      189
Index      193

“Uses professional team sports to help students, sportswriters and sports fans learn and understand economic principles”—Reference & Research Book News.