“Sports Economics” written by Paul Downward, Alistair Dawson, and Trudo Dejonghe is a comprehensive book that delves into the various economic concepts and principles that apply to sports. The authors present the subject matter in a clear and concise manner, making it accessible to students and researchers alike.
Economic Principles in Sports
The book starts by exploring the economic principles that underpin sports, such as supply and demand, competition, and market structures. The authors provide real-world examples of how these principles apply in the sports industry, such as the impact of player salaries on ticket prices and the effects of competition between leagues on the quality of play.
Economic Analysis of Sports
The authors then move on to discuss the various methods of economic analysis that can be use to understand the sports industry, including cost-benefit analysis and economic impact analysis. They also provide examples of how these methods have been used in practice, such as the economic impact of hosting a major sporting event like the Olympics.
Sports Industry Structure
The book also examines the structure of the sports industry, including the roles of various stakeholders such as teams, leagues, and governing bodies. The authors discuss the impact of factors such as revenue sharing and player drafts on the industry, as well as the challenges faced by smaller leagues and teams in competing with larger, more established organizations.
Sports Broadcasting and Media
Another major topic covered in the book is the role of broadcasting and media in the sports industry. The authors explore the economics of sports broadcasting, including the impact of television deals on revenues and the use of new media platforms like social media and streaming services. They also discuss the impact of broadcasting on the competitive balance of sports leagues and the potential for media to influence the outcomes of sporting events.
Sports Labor Markets
The book also delves into the labor markets within the sports industry, including the economics of player contracts and the impact of labor unions on the industry. The authors provide examples of the impact of player strikes and collective bargaining agreements on the industry, as well as the challenges faced by smaller leagues in attracting and retaining talent.
Overall, “Sports Economics” is an excellent resource for anyone interest in understanding the economics of the sports industry. The authors present the subject matter in a clear and accessible manner, using real-world examples and case studies to illustrate their points. The book is comprehensive in its coverage of the subject matter, exploring topics such as industry structure, broadcasting, and labor markets in detail. The inclusion of study questions and further reading lists also makes it a valuable resource for students and researchers looking to delve deeper into the subject matter.