Economics of Sports: A Note to this Special Issue
AbstractThe expansion of economics to other spheres of life, including politics, war, crime, religion, or in particular sports can be seen in line with Hirshleifer (2002) as a breath of fresh air in economics. Although one can always criticize the generalizability of results developed with sports data, sporting events can still be seen as economic (miniature) environments. There is no reason not to acknowledge that athletes, for example, behave according to two key elements in economics, namely incentives and constraints. Focal economic concepts such as prices, opportunity costs or property rights can be nicely investigated in sports markets and are supposed to drive the behaviour of their key actors. An essential strength of sports events is the fact that they take place in a controlled environment generating therefore outcomes that come very close to holding other things equal, providing therefore a real-world laboratory for testing economic theories. Researchers have the chance of working with highly reliable data (low variable errors) and reduced omitted variables biases. The advantages can be visualized using the Tour de France as an example. The ranking of a cyclist at the Tour de France, his performance in the mountains or the time trials are clearly observable and are free of discrepancies compared to well known and often used traditional economic variables such as GDP or CPI. Statistics can be adjusted based on the outside conditions (stadium, weather conditions etc.). A Tour de France takes place in a controlled environment. All riders perform in the same terrain at the same time with the same outside restrictions such as the weather. Further external influences are controlled by the rules (law) of the event, as they are the same for all riders. Thus, many factors can be held constant and therefore the situation is much like a controlled environment. Even though a cycling event allows social and economic interactions and is thus less controlled than a laboratory experiment one of the main advantages is that the participation evokes actual and real processes (e.g., strong monetary incentives) in an environment outside a laboratory setting (Goff and Tollison 1990).
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).
Volume (Year): 39 (2009)
Issue (Month): 3 (December)
doping; economics of sport; illegal activities;
Find related papers by JEL classification:
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
- M54 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Labor Management
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
- I12 - Health, Education, and Welfare - - Health - - - Health Production
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Manuela Torgler).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.