The Unique Economic Aspects of Sports
50 Pages Posted: 23 Jul 2019
Date Written: January 5, 2019
Economists have long known the sports industry is unique. However, the rest of the Sport Management community may not fully appreciate the breadth of topics economists have identified as being “peculiar” to sports, nor “origin story” of the economic debate over how the uniqueness of sports should be assessed for policy decisions. Nonetheless, it is recognized that sports economics plays a critical role in sport management. This paper aims to provide an overview of the economics considered unique to sports and the history of the debate as to what to do about that uniqueness, as well as to reassess, where necessary, whether the economics really are all that unique after all.
Keywords: Invariance principle, competitive balance, Coase Theorem, monopoly, sportsmen owner effect
JEL Classification: Z2
Suggested Citation: Suggested Citation