Hardback
Disequilibrium Sports Economics
Competitive Imbalance and Budget Constraints
9781783479351 Edward Elgar Publishing
For decades, sports economics has been set within the framework of equilibrium economics, in particular when modelling team sport leagues. Based on a conviction that this does not reflect real life, this book addresses a gap in the literature and opens up a new research area by applying concepts drawn from disequilibrium economics. It is divided into two parts, the first of which focuses on economic disequilibrium in sports markets and competitive imbalance in sporting contests. The second part concentrates on soft budget constraints and their consequences for club governance and management.
More Information
Critical Acclaim
Contributors
Contents
More Information
For decades, sports economics has been set within the framework of equilibrium economics, in particular when modelling team sport leagues. Based on a conviction that this does not reflect real life, this book addresses a gap in the literature and opens up a new research area by applying concepts drawn from disequilibrium economics. It is divided into two parts, the first of which focuses on economic disequilibrium in sports markets and competitive imbalance in sporting contests. The second part concentrates on soft budget constraints and their consequences for club governance and management.
This pioneering book is the first to tackle non-mainstream economics in sport and offers a first approach to disequilibrium sports economics. Providing a new metric of competitive balance and opening up new avenues of future research, this is essential reading for economists and those researching sport across many disciplines.
This pioneering book is the first to tackle non-mainstream economics in sport and offers a first approach to disequilibrium sports economics. Providing a new metric of competitive balance and opening up new avenues of future research, this is essential reading for economists and those researching sport across many disciplines.
Critical Acclaim
‘Disequilibrium Sports Economics: Competitive Imbalance and Budget Constraints introduces a new research area in sport management. . . . it touches on important topics surrounding team-sport leagues. The book certainly provides not only a sport-economic aspect but also a communication/media aspect of sport. Sport management faculty and students could use the book as excellent supplemental reading.’
– International Journal of Sport Communication
‘Andreff and his contributors bring a strong dose of reality to the economic modelling of sports leagues. Disequilibrium Sports Economics provides an intellectually compelling opening and a theoretically necessary antidote to the study of sports economics.’
– Andrew Zimbalist, Smith College, US
‘This is an interesting book worth reading for every sports economist because it introduces a thought provoking approach to the growing field of sports economics. The authors show how disequilibrium economics may improve our understanding of puzzling economic phenomena in sports. I congratulate the editor and the contributors for this new book and the novel perspectives provided therein!’
– Helmut M. Dietl, University of Zurich, Switzerland
''I felt great intellectual excitement after getting acquainted with this volume. The high quality papers by Wladimir Andreff and his co-authors are more significant than the topic indicated modestly by the title; they may not only urge economists of sport to reconsider their earlier theories, but may also provide inspiration and a new momentum to the wide research program on disequilibrium and the soft budget constraint.''
– János Kornai, Harvard University, US and Corvinus University of Budapest, Hungary
''This book sounds like a theoretical breakthrough towards a new approach in sports economics that generates important insights into the issue of financial fair play in football.''
– Andrea Traverso, Head of Club Licensing and Financial Fair Play, UEFA
''This path-breaking volume contains novel analysis of problems of critical importance to sports clubs, leagues, fans and academics interested in sports.''
– Robert Simmons, Lancaster University Management School, UK
‘As a whole, the book provides an original and realistic view that can and perhaps even must shape the future of sports economics.’
– Nicolas Scelles, Journal of Economics and Political Economy
– International Journal of Sport Communication
‘Andreff and his contributors bring a strong dose of reality to the economic modelling of sports leagues. Disequilibrium Sports Economics provides an intellectually compelling opening and a theoretically necessary antidote to the study of sports economics.’
– Andrew Zimbalist, Smith College, US
‘This is an interesting book worth reading for every sports economist because it introduces a thought provoking approach to the growing field of sports economics. The authors show how disequilibrium economics may improve our understanding of puzzling economic phenomena in sports. I congratulate the editor and the contributors for this new book and the novel perspectives provided therein!’
– Helmut M. Dietl, University of Zurich, Switzerland
''I felt great intellectual excitement after getting acquainted with this volume. The high quality papers by Wladimir Andreff and his co-authors are more significant than the topic indicated modestly by the title; they may not only urge economists of sport to reconsider their earlier theories, but may also provide inspiration and a new momentum to the wide research program on disequilibrium and the soft budget constraint.''
– János Kornai, Harvard University, US and Corvinus University of Budapest, Hungary
''This book sounds like a theoretical breakthrough towards a new approach in sports economics that generates important insights into the issue of financial fair play in football.''
– Andrea Traverso, Head of Club Licensing and Financial Fair Play, UEFA
''This path-breaking volume contains novel analysis of problems of critical importance to sports clubs, leagues, fans and academics interested in sports.''
– Robert Simmons, Lancaster University Management School, UK
‘As a whole, the book provides an original and realistic view that can and perhaps even must shape the future of sports economics.’
– Nicolas Scelles, Journal of Economics and Political Economy
Contributors
Contributors: W. Andreff, E. Franck, J.-P. Gayant, N. Le Pape, R.D. Macdonald, K. Nielsen, R.K. Storm, G.N. Tuck, D. van Reeth, A.R. Whitten
Contents
Contents:
1. A New Research Area: Disequilibrium Sports Economics
Wladimir Andreff
PART I ECONOMIC DISEQUILIBRIUM AND COMPETITIVE IMBALANCE
2. An Attempt at Disequilibrium Modelling a Team Sports League
Wladimir Andreff
3. Management Reference Points for Sporting Leagues: Simulating League Expansion and the Effect of Alternative Player Drafting Regulations
Geoff N. Tuck, Robert D. Macdonald and Athol R. Whitten
4. The Metrics of Competitive Imbalance
Jean-Pascal Gayant and Nicolas Le Pape
5. Disequilibrium on the Sports Programmes Market: The Gender Imbalance in TV Coverage and TV Viewership of the 2012 Olympic Games
Daam van Reeth
PART II TEAMS AND LEAGUES WITH SOFT BUDGET CONSTRAINTS
6. Soft Budget Constraints in European and US leagues: Similarities and Differences
Rasmus K. Storm and Klaus Nielsen
7. Governance of Professional Team Sports Clubs: Agency Problem and Soft Budget Constraint
Wladimir Andreff
8. Regulation in Leagues with Clubs’ Soft Budget Constraints: The Effect of the New UEFA Club Licensing and Financial Fair Play Regulations on Managerial Incentives and Suspense
Egon Franck
Index
1. A New Research Area: Disequilibrium Sports Economics
Wladimir Andreff
PART I ECONOMIC DISEQUILIBRIUM AND COMPETITIVE IMBALANCE
2. An Attempt at Disequilibrium Modelling a Team Sports League
Wladimir Andreff
3. Management Reference Points for Sporting Leagues: Simulating League Expansion and the Effect of Alternative Player Drafting Regulations
Geoff N. Tuck, Robert D. Macdonald and Athol R. Whitten
4. The Metrics of Competitive Imbalance
Jean-Pascal Gayant and Nicolas Le Pape
5. Disequilibrium on the Sports Programmes Market: The Gender Imbalance in TV Coverage and TV Viewership of the 2012 Olympic Games
Daam van Reeth
PART II TEAMS AND LEAGUES WITH SOFT BUDGET CONSTRAINTS
6. Soft Budget Constraints in European and US leagues: Similarities and Differences
Rasmus K. Storm and Klaus Nielsen
7. Governance of Professional Team Sports Clubs: Agency Problem and Soft Budget Constraint
Wladimir Andreff
8. Regulation in Leagues with Clubs’ Soft Budget Constraints: The Effect of the New UEFA Club Licensing and Financial Fair Play Regulations on Managerial Incentives and Suspense
Egon Franck
Index