Playbooks and Checkbooks: An Introduction to the Economics of Modern Sports

Princeton University Press
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What economic rules govern sports? How does the sports business differ from other businesses? Playbooks and Checkbooks takes a fascinating step-by-step look at the fundamental economic relationships shaping modern sports. Focusing on the ways that the sports business does and does not overlap with economics, the book uncovers the core paradox at the heart of the sports industry. Unlike other businesses, the sports industry would not survive if competitors obliterated each other to extinction, financially or otherwise--without rivals there is nothing to sell. Playbooks and Checkbooks examines how this unique economic truth plays out in the sports world, both on and off the field.

Noted economist Stefan Szymanski explains how modern sporting contests have evolved; how sports competitions are organized; and how economics has guided antitrust, monopoly, and cartel issues in the sporting world. Szymanski considers the motivation provided by prize money, uncovers discrepancies in players' salaries, and shows why the incentive structure for professional athletes encourages them to cheat through performance-enhancing drugs and match fixing. He also explores how changes in media broadcasting allow owners and athletes to play to a global audience, and why governments continue to publicly fund sporting events such as the Olympics, despite almost certain financial loss.


Using economic tools to reveal the complex arrangements of an industry, Playbooks and Checkbooks illuminates the world of sports through economics, and the world of economics through sports.

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About the author

Stefan Szymanski is professor of economics and the MBA Dean at the Cass Business School, City University London. He is the coauthor of Fans of the World, Unite!: A (Capitalist) Manifesto for Sports Consumers; National Pastime: How Americans Play Baseball and the Rest of the World Plays Soccer; and Winners and Losers: The Business Strategy of Football.
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Additional Information

Publisher
Princeton University Press
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Published on
Mar 16, 2009
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Pages
248
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ISBN
9781400830008
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Language
English
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Genres
Business & Economics / Economics / General
Business & Economics / General
Business & Economics / Industries / Media & Communications
Sports & Recreation / General
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Content Protection
This content is DRM protected.
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Read Aloud
Available on Android devices
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Eligible for Family Library

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