sport economics dissertation

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Economics of professional football

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• Proefschift Lucas Besters Final published version, 3.44 MB

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T1 - Economics of professional football

AU - Besters, Lucas

N1 - CentER Dissertation Series Volume: 550

N2 - This dissertation contains four chapters, all with a different topic that is of interest from a sports economic perspective. More specifically, from the economic perspective of professional football. Football is the most popular sport within Europe and the data that is used in the analyses stems from English and Dutch professional football. The topics also relate to elements outside of the sports domain. For example, the effectiveness of in-season coach changes shows resemblance to managerial changes within organisations (Chapter 2). Stadium attendance demand relates to the entertainment industry and describes consumer preferences in uncertain situations (Chapter 3). Furthermore, the selection system for talent in youth professional football is comparable to other selections system, such as in school grades. Both have to deal with relative age differences between peers (Chapter 4). Finally, the effects of team heterogeneity on performance relate to organisational structures and, specifically, the formation of teams (Chapter 5).

AB - This dissertation contains four chapters, all with a different topic that is of interest from a sports economic perspective. More specifically, from the economic perspective of professional football. Football is the most popular sport within Europe and the data that is used in the analyses stems from English and Dutch professional football. The topics also relate to elements outside of the sports domain. For example, the effectiveness of in-season coach changes shows resemblance to managerial changes within organisations (Chapter 2). Stadium attendance demand relates to the entertainment industry and describes consumer preferences in uncertain situations (Chapter 3). Furthermore, the selection system for talent in youth professional football is comparable to other selections system, such as in school grades. Both have to deal with relative age differences between peers (Chapter 4). Finally, the effects of team heterogeneity on performance relate to organisational structures and, specifically, the formation of teams (Chapter 5).

M3 - Doctoral Thesis

SN - 978 90 5668 551 5

T3 - CentER Dissertation Series

PB - CentER, Center for Economic Research

CY - Tilburg

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Essays on sports economics.

Octavian Vasilescu , Clemson University Follow

Date of Award

Document type.

Dissertation

Degree Name

Doctor of Philosophy (PhD)

Legacy Department

Applied Economics

Committee Chair/Advisor

Wilson, Paul W

Committee Member

Sauer , Raymond D

Tollison , Robert D

Warner , John T

The common thread behind the three papers presented here is the use of sports data to test economics theories. The effect of wage inequality on team production is an important question in labor economics. Data from sports are well suited to study this problem, with more than ten published papers in the last decade.In the first paper we analyze the effect of wage inequality both on team performance and efficiency, using data from Major League Baseball and a stochastic frontier model with a translog production function. Most studies have examined the impact of inequality within a linear framework, and found that more equal pay structures enhance team production. This presupposes that there is no limit to beneficial effects of equality in pay, an idea which seems suspect.We allow for a possible non-linear relationship between wage inequality and team performance, and find that most MLB teams have wage structures which are sub-optimal Furthermore using a semi-parametric estimation we find that high efficiency teams have a lower degree of wage inequality than low efficiency teams. In the second paper we specify and model a more reasonable data generating process for sportive contests, based on the differences between relative characteristics of the teams. Monte Carlo experiments reveal that estimating linear models using winning percentage as a dependent variable results in having biased and inconsistent estimates, which confounds any inference based on them, thus favoring our modeling strategy. Using our improved modeling procedure, we allow the relationship between wage inequality and winning to be non-linear, based on an insight by Lazear(1991), and we confirm the existence of an optimum level of wage inequality, finding evidence supporting the 'tournament theory' of Lazear and Rosen(1981). The third paper performs a test of the Coase Theorem (Coase, 1960) using the adoption of the designated hitter rule(DH) by the American League(AL) in 1973 as a natural experiment. We model the decision to change leagues as a latent variable representing the economic calculation made by the decision making unit. Coase Theorem would predict that better hitting pitchers will move to the National League(NL), but since we cannot observe pitchers in AL pitching after 1973, we show the reciprocal of this,i.e. that worse batting pitchers move to the AL. Using a probit model, we find that indeed, for the 1972 and 1973 period, having batting skills two standard deviations below the average, would have increased the pitcher's trade probability by 9.8 percent, holding other variables constant at their means. Before 1972 and after 1973, being a subpar batter would not affect the probability that a pitcher is traded to AL.The change in regime in the AL, represented by the DH rule, opens the door to a test of the CT and of Rottenberg's(1956) novel analysis of the distribution of baseball talent. It appears that baseball owners and executives are not immune to the principles of economics or the CT.

Recommended Citation

Vasilescu, Octavian, "Essays on Sports Economics" (2007). All Dissertations . 153. https://open.clemson.edu/all_dissertations/153

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Sports Economics, Management and Policy

About this book series.

• Dennis Coates

Book titles in this series

Conquering the pitch.

The Economics of Soccer

• Bernd Frick
• Copyright: 2025

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Principles and Paradoxes of Sports Economics

Contributions in Honor of Rodney Fort

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• Copyright: 2024

Sport Tourism, Island Territories and Sustainable Development

A Comparative Perspective

• Derek Van Rheenen
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• Ricardo Melo
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Sports Management in an Uncertain Environment

• Bhaskar Basu
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• Copyright: 2023

Management of Sport Organizations at the Crossroad of Responsibility and Sustainability

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Up: Home : Frequently Asked Questions > Sports Economics

• Sports Economics

Sports economics’ theoretical base is nested heavily in theoretical and empirical microeconomic analysis with far reaching applications. Sports economics modules offer a range of transferable and specific skills that can be applied to a range of job opportunities, particularly in the ever- growing sports and leisure industries, local government and tourism.

Dr Andy Cooke , Nottingham Trent University

The central theme that characterises sports economics is that competing teams must co-operate, to some degree, for a meaningful schedule of matches to take place. This gives rise to two terms: uncertainty of outcome and competitive balance. Specifically, the attractiveness of a given fixture will be enhanced if the outcome is uncertain; matches which are foregone conclusions will be less attractive in the long term to paying spectators, as well as to the media. Thus, it is in the interest of a league to sustain fan interest for as long as possible by providing fixture lists between equally matched teams.

Mechanisms to promote team equality vary. Typically, European leagues are merit-based; vertical hierarchies enable poorer performing teams from a higher division to be replaced by better performing teams from a lower division through a process of promotion and relegation. In sports such as football and rugby union, the very top teams in the highest division also have the opportunity to compete against the best foreign teams in European competition.

In North America, where geographical distance plays a significant role in determining which teams can play against each other on a regular basis, leagues are ‘hermetically sealed’ with no promotion and relegation. Restrictions, such as salary caps and limits on the size of a team’s playing roster, prevent richer teams from hoarding the best talent. Inevitably a substantial literature has evolved, both in terms of how best to measure competitive balance unambiguously and its policy implications.

As a literature, sports economics originated in a seminal article by Simon Rottenberg (1956) which focused on the prevailing restrictions in the labour market for baseball players. Since then, the literature has grown exponentially, particularly over the last 25 years or so. The shift of sports economics away from the periphery of the economics discipline is evidenced more recently by top international journals devoting whole volumes to sports-based economic analysis: The Scottish Journal of Political Economy (2000, 2007), The Economic Journal (2001) and The Oxford Review of Economic Policy (2003). There is now a dedicated journal devoted to the growing body of research into professional team sport, namely the Journal of Sports Economics.

The earlier literature had a strong focus on the major North American leagues (baseball, basketball, football and (ice) hockey). This reflected the fact that detailed data sets were readily available, thereby providing a ready-made laboratory for the analysis of economic propositions. Furthermore, professional team sport in the North America tended, relative to Europe, to have a more business-like edge with regard to its organisation and supply. More recently the economic analysis of football has become particularly prominent as concerns have emerged about the potentially detrimental effects of highly affluent teams dominating domestic and European competition.

Sports economics links directly to a range of sub-disciplines within the broader economics literature such as industrial economics (e.g. league organisation and the relationship between teams), theory of the firm (e.g. the validity of the profit maximisation assumption when many sports teams persistently lose money), labour economics (e.g. the impact of labour market restrictions which reduce player mobility and impact on wage rates) and demand theory (e.g. measuring the impact of different variables on game attendances). Thus, sport offers an array of highly relevant applications to the economist.

Journal of Sports Economics

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20 Amazing Term Paper Topics On Sports Economics

More and more people are turning to economics to understand how to maximise their profits from sports, be that as players, team owners, or gamblers. So here are twenty great term papers in the exciting new arena of sports economics.

To trade, or not to trade

Should baseball team owners try to “trade up” to superstar players at the potential expense of the rest of the team, or rather try balance the roster?

The beautiful, dirty, game

Does corruption in football have any impact on fans’ loyalty to the game?

It’s a young man’s game

When do players reach their peak performance in different physical activities? How does this affect their value?

It’s a rich man’s game

How much does funding affect the performance of individual sportsmen relative to teams?

Gambling: Better or worse?

Does allowing betting have any impact on fans’ enjoyment?

The price of gold

What is the average cost to win a gold medal at the Olympic Games?

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The price of fame

Are more famous sportsmen likely to benefit, or suffer, in their performance as they gain more renown?

A whole host of problems?

Should countries and cities fight to host the Olympics or the World Cup? Or are the costs just too high?

The economist’s prescription for hooliganism

What solutions would an economist suggest to stop the brawls, bust-ups, and battles that beset so many games?

Be the worst you can be

When do contestants face incentives to lose their matches, rather than win them?

Athlete’s foot

Many superstars have insured their body parts critical to their success. How can personal insurance policies price the value of athlete’s bodies?

Blockbusters

Why are so few sports massively popular, while the majority languish with little attention?

The winner’s curse

Where superstar athletes are sought after, do team managers tend to overpay for the big names?

Follow the money

Who makes the money in athletics? The players? The sponsors? The broadcasters?

Fertile ground

What level of supply of amateurs is critical to ensuring the success of professionals?

Legalize drugs?

As costs to catch performance-enhancing drugs race upwards, is there any sense in simply legalizing their use?

Brand values

How much are the big names worth to marketers?

How much of a role does luck play in deciding who wins and who loses?

A sporting chance

How has the development of statistical econometric modeling been influenced by amateur fanatics?

Human capital

Does being athletic improve success in business?

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Students in the School of Economics at the University of Nottingham consistently produce work of a very high standard in the form of coursework essays, dissertations, research work and policy articles.

Below are some examples of the excellent work produced by some of our students. The authors have agreed for their work to be made available as examples of good practice.

Undergraduate dissertations

• The Causal Impact of Education on Crime Rates: A Recent US Analysis . Emily Taylor, BSc Hons Economics, 2022
• Does a joint income taxation system for married couples disincentivise the female labour supply? Jodie Gollop, BA Hons Economics with German, 2022
• Conditional cooperation between the young and old and the influence of work experience, charitable giving, and social identity . Rachel Moffat, BSc Hons Economics, 2021
• An Extended Literature Review on the Contribution of Economic Institutions to the Great Divergence in the 19th Century . Jessica Richens, BSc Hons Economics, 2021
• Does difference help make a difference? Examining whether young trustees and female trustees affect charities’ financial performance. Chris Hyland, BSc Hons Economics, 2021

Postgraduate dissertations

• The impact of Covid-19 on the public and health expenditure gradient in mortality in England . Alexander Waller, MSc Economic Development & Policy Analysis, 2022
• Impact of the Child Support Grant on Nutritional Outcomes in South Africa: Is there a ‘pregnancy support’ effect? . Claire Lynam, MSc Development Economics, 2022
• An Empirical Analysis of the Volatility Spillovers between Commodity Markets, Exchange Rates, and the Sovereign CDS Spreads of Commodity Exporters . Alfie Fox-Heaton, MSc Financial Economics, 2022
• The 2005 Atlantic Hurricane Season and Labour Market Transitions . Edward Allenby, MSc Economics, 2022
• The scope of international agreements . Sophia Vaaßen, MSc International Economics, 2022

Thank you to all those students who have agreed to have their work showcased in this way.

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15 Graduate Students Receive Dissertation Fellowships for 2024–25

Each year, the NBER provides dissertation fellowships for a number of doctoral students in economics and finance, in each case after a widely-disseminated call for applications.

Fellowships for dissertation writers in aging and health economics, supported by the National Institute on Aging and the NBER, have been awarded to Michael B. Briskin, of Boston University; Marema Gaye and Graeme P. Peterson of Harvard University; and Theodore L. Caputi, Rebekah A. Dix, Dean Li, Kelsey Moran, and James C. Okun of the Massachusetts Institute of Technology.

Briskin is studying the widespread adoption of private health insurance in the 1940s and 1950s and its effects on physician labor markets and health outcomes in the US. Caputi’s research focuses on behavioral aspects of public health, such as drug use, violence, and crime, and their effects on economic outcomes. Dix is investigating externalities in medical innovation and how interoperability and technological frictions affect patients and healthcare providers. Gaye is studying mental health care and the non-participation of some clinicians in public health insurance. Li is examining the effects of outsourcing, technological change, and consolidation on healthcare labor markets and healthcare delivery. Moran is investigating the determinants of hospital provision of charity care as well as the effects of health information exchange on patients and organizations. Okun’s research analyzes public procurement and the dynamics of buyer groups. Peterson’s dissertation addresses health insurance markets, environmental health, and the causes and consequences of racial disparities in the US healthcare system.

Fellowships for graduate students studying behavioral macroeconomics, sponsored by the Alfred P. Sloan Foundation, have been awarded to Lingxuan Sean Wu of Harvard University, Michael D. Cai of Northwestern University, and Matteo Saccarola of University of California, Berkeley.

Cai is studying the estimation of macroeconomic models that accommodate wide classes of non-rational expectations. Saccarola is analyzing the formation of beliefs about inflation, exchange rates, and prices. Wu is studying the implications of misunderstanding of economic relations for the economic fluctuations and stabilization policy.

Fellowships to support research on consumer financial management, funded by the Institute of Consumer Money Management, have been awarded to Justin Katz of Harvard University and Grace Ortuzar of the University of Notre Dame.

Katz is studying frictions in household debt repayment decisions, with a particular focus on the mortgage and housing sector. Ortuzar is examining the effects of a range of policies that are designed to benefit low-income tenants and reduce homelessness. 

Fellowships for the study of retirement and disability policy research, sponsored by the Social Security Administration, have been awarded to Melissa D. Gentry of Texas A&M University and Sydney Gordon of the University of California, Irvine.

Gentry is studying the role of access to transportation in affecting employment of individuals with disabilities. Gordon is investigating Social Security Administration field office staffing affects benefit enrollment patterns. 

The NBER posts calls for  fellowship applications  each fall. Application closing dates are usually in early December. Those interested in receiving fellowship announcements can sign up to receive notices .

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Economic benefits of TAJR highlighted

Few would be surprised to learn about the physical and mental benefits that trails can bring.

Those elements were frequently cited during a Trail of the Year ceremony at the Trails at Jakes Rocks trailhead Friday morning.

But the benefits from the trail system were cast in a far wider context by several of the speakers.

“Today’s event is an opportunity to celebrate a beautiful trail,” Congressman Glenn Thompson said, and “showcase the benefits outdoor recreation provides a community. We see that in so many ways.”

He cited tourism and outdoor recreation and the second largest industry in Pennsylvania and spoke about the importance of “bring(ing) those dollars in from the outside to help our local economy.”

Thompson said that initiatives like the Trails at Jakes Rocks are an “investment in the health and, quite frankly, the economy of the nation.”

Department of Conservation and Natural Resources Secretary Cindy Adams Dunn called the trails part of the state’s future, an element “that will attract people to live, work and play” in the region and serve both as a “pillar” for economic growth but also “hope for our people.”

Ta Enos, founder and CEO of the Pennsylvania Wilds, said growing the outdoor recreation sector in rural Pennsylvania has been a focus for 20 years.

She said that tourism and outdoor recreation is a “job and wealth generator like any industry is.

“Assets like this not only are economic generators (but) make this a better place to live,” Enos explained, calling the TAJR a “really important amenity for us to bring online for our community and our region.”

She added that visitation is going up with investments that are “being done very intentionally so we don’t lose what’s special about our place.”

She said that the development of the Trails is held up as a model for “how to get projects like this done.

“The vision is one thing and implementing it is another. It took real work and perseverance to get this thing funded in rural Pennsylvania. Projects like this, they can be hard to get funded and move forward.”

Perhaps no one is tasked with making the argument for outdoor recreation more than Nathan Reigner, who leads the state’s Office of Outdoor Recreation.

“This is a fantastic place,” he said. “I take note that it was the Warren County Chamber of Business and Industry that has really been the community partner on this trail project.”

Reigner called it “unique” to have a recreation project led by a chamber of commerce and claimed that it’s evidence that the community and this part of the states “sees future prosperity and economic competitiveness through outdoor recreation.”

The Trails at Jakes Rocks give “us a strategic tool for economic development,” he added, and is also a “great workforce recruitment and retention tool. These trails attract new workers” and new businesses.

“One of the main things we celebrate,” State Sen. Scot Hutchinson said, “not only do we have the asset, we’re going to use those assets.”

He pointed out that the Allegheny National Forest is considered the “Land of Many Uses.”

“We’re talking about new and innovative ways of using this wonderful asset we have here in Northwestern Pennsylvania” to improve the quality of life and help “drive the economic engine in Warren and surrounding counties.”

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What a university's deal with Pitbull says about changing economics in college sports

One school in Florida found a unique way to attract money and good marketing. It sold the naming rights of its stadium to famous musician Pitbull.

Copyright © 2024 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

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Trump says he’d create a government efficiency commission led by Elon Musk

Former President Donald Trump Former tells business leaders he’ll lead a “national economic renaissance” by slashing regulations to boost energy production, drastically cutting government spending and reducing taxes for companies that produce in the US.

This combination photo shows Republican presidential nominee former President Donald Trump at a campaign event in New York, Sept. 5, 2024, left, and Tesla and SpaceX CEO Elon Musk at the European Jewish Association’s conference in Krakow, Poland, Jan. 22, 2024. (AP Photo)

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PHOENIX (AP) — Former President Donald Trump said Thursday he would create a government efficiency commission to audit the entire federal government, an idea suggested by billionaire Elon Musk , who would lead it.

The commission is the latest attention-grabbing alliance between Trump and Musk, who leads companies including Tesla and SpaceX and has become an increasingly vocal supporter of Trump’s bid to return to the White House.

The Republican presidential nominee claimed that in 2022, “fraud and improper payments alone cost taxpayers an estimated hundreds of billions of dollars.” He said the commission would recommend “drastic reforms” and develop a plan to eliminate fraud and improper payments within six months, which he said would save trillions of dollars.

“We need to do it,” Trump said. “Can’t go on the way we are now.”

Trump also promised to cut 10 government regulations for every new regulation implemented if he’s elected in November.

He announced the plans in a speech to the Economic Club of New York, a group of executives and industry leaders, where he also unveiled proposals to slash regulations and boost energy production, embrace cryptocurrencies and drastically cut government spending as well as corporate taxes for companies that produce in the U.S.

“I look forward to serving America if the opportunity arises,” Musk wrote on X , the social media platform he owns. “No pay, no title, no recognition is needed.”

The former president and Musk discussed a role for the entrepreneur in a second Trump administration during a streamed conversation on X last month.

“You’re the greatest cutter ,” Trump told Musk then. “I need an Elon Musk — I need somebody that has a lot of strength and courage and smarts. I want to close up the Department of Education, move education back to the states.”

Trump and Musk, two of the world’s most powerful men, have shifted from being bitter rivals to unlikely allies over the span of one election season.

Musk, who described himself as a “moderate Democrat” until recently, suggested in 2022 that Trump was too old to be president again. Still, Musk formally endorsed Trump two days after his assassination attempt last month.

Presidents have made various efforts to reform government over the years, including the National Partnership for Reinventing Government created during Bill Clinton’s presidency, which was headed by then-Vice President Al Gore. It aimed to simplify the federal bureaucracy, cut costs and make agencies more responsive to the public.

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Zhao to speak at economic roundtable of the ohio valley luncheon.

Dr. Chen Zhao (Photo Provided)

MARIETTA — Dr. Chen Zhao, Senior Economist at Redfin, is the distinguished guest lecturer at the Economic Roundtable of the Ohio Valley’s Dick Thomas Memorial Luncheon on Tuesday, Sep. 17.

The luncheon marks ERT’s first meeting of the programming year.

A leading expert in housing economics, Zhao will present “The U.S. Housing Market and the Current Interest Rate Cycle,” which sheds light on questions surrounding the housing market amid fluctuating interest rates, including the potential impacts of recent Federal Reserve announcements and the future trajectory of mortgage rates.

The lecture is open to the public and starts at noon at the Marietta Country Club, 705 Pike St., Marietta. Guests must register by Sept. 12 at https://tinyurl.com/bdhedh6r . The cost of attendance is $22 per person.

In conjunction with her lecture, Zhao will give a presentation to Marietta College students on Sept. 16 at a Business Q&A session in Thomas 113. This session will provide students an opportunity to interact with a leading economist and gain a better understanding of the complexities of economic forecasting.

As Senior Economist at Redfin, Zhao leverages the company’s extensive data and tools to analyze nationwide housing market trends. Her previous roles include serving as an executive director at the JPMorgan Chase Institute, where she led research on housing finance and financial markets, and working as an economics consultant at Analysis Group Inc. Additionally, her early career included research roles with the White House Council of Economic Advisers and the U.S. Census Bureau. She earned her Ph.D. in Economics from Cornell University and her undergraduate degree from MIT.

The Economic Roundtable of the Ohio Valley provides a platform for local professionals to discuss and understand pressing economic and social issues affecting the community. Through its esteemed speaker series, ERT aims to inform and inspire, fostering greater awareness and insight into the evolving economic landscape.

“Dr. Zhao’s expertise and insights into the housing market are invaluable as we navigate an era of significant economic change,” said Dr. Greg Delemeester, the Milton Friedman Professor of Economics at Marietta College. “We are honored to have her share her knowledge with our community and provide an in-depth look at the evolving dynamics of the U.S. housing market.”

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