sports economics

This is why economists are increasingly studying sports

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If you look closely at your favourite sport nowadays, it’s hard to miss the influence of economics. It’s evident from the way players are drafted or how much they are paid, through to individual coaching decisions, and even strategic shifts across entire leagues.

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Economists are looking at sport and game theory to help solve fundamental economic questions.
Image: REUTERS/Ricardo Moraes
This has been particularly driven by the rise of game theory in economics. Game theory uses mathematical models to figure out optimal strategies, such as what pitches a baseball pitcher should throw, or whether American Football teams should pass more.

Sport lends itself to economics and game theory because players, coaches and agents act similar to the hypothetical rational decision-makers in economic models.

The economics of professional sport

If you’ve seen or read Moneyball you’ll understand how economics can be used to put together a team. This is the true story of Billy Beane, the former general manager of the Oakland Athletics baseball team. Beane became famous for using economic ideas to identify undervalued players.

Baseball scouts and agents often focused too much on unimportant factors like how hard someone could hit a ball. Using advanced statistics Billy Beane could identify players who were undervalued by his competitors, and play them in ways that made best use of their strengths.
In basketball, Robert D. Tollison is largely behind the explosion of three point shooting in the National Basketball Association. Tollison’s research identified that even though three pointers are less accurate than other shots, over the course of a game and season it makes sense to take more three pointers.

In some cases economists have been hired to solve specific problems. For instance the AFL was worried about clubs “tanking” (purposefully losing) to get favourable draft picks (not mentioning any names, Melbourne).

So the AFL asked Melbourne University Economics Professor Jeff Borland to come up with an objective measure of club performance (based on team performance, win-loss ratios, previous finals appearances and injuries).

Exploring the link between sport and economics

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Further understanding sports and their link with economics can increase our knowledge of how to use sports in economic development. Much of the sports industry, which can be valuable in promoting social change, has not been given so much attention. Grassroot sports in particular have a lot of potential and support the creative side of economies. In the words of the World Economic Forum, “In general, the category of Sport that can benefit society most is actually not receiving the appropriate levels of support from various stakeholders; however, this could change should the Creative Economy find both economic and social value in investing more in grass roots Sport, where innovative partnership models between the public and private sectors could be effective.”

ÇİN’DE SPOR EKONOMİSİ

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09 Kasım 2017’de Çin Şanghay’da, Şanghay Spor Üniversitesi’nde (SUS) düzenlemiş olduğu, IASE Genel Kuruluna aktif katılım sağlayarak, 2020’den sonra gelecekteki IASE Uluslararası Konferansları için bizlerin sunmuş olduğu öneri üzerine; konferans başkanı Dr Joel MAXCY’ in, Seul, Güney Kore ve İstanbul’da yapılabilecek etkinlikler üzerine yoğunlaşacağını deklare etmesi ve İstanbul’un sonuç bildirgesinde yer alması (Minutes of the IASE General Assembly in Shanghai, China 09 Kasım 2017) bizler için bu konferansın en önemli kazanımı olmuştur. Çin, Şanghay Spor Üniversitesinde, Uluslararası Spor Ekonomistleri Birliği tarafından düzenlenen da 17. Uluslararası Spor Ekonomisi Konferansı ; Yükselen Spor Endüstrisinin; üretim ve organizasyon olarak, sadece batının ekonomik sistemlerine (Avrupa, Amerika) ait olmadığı, doğunun ekonomik sistemlerinde de, (Çin, Asya ) önemli bir yere sahip olduğunu bizlere göstermiştir. Bizlere düşen görev ise, son yıllarda gelişen Spor Eko Sistemlerinde Türkiye’nin yerini tespit etmek, spor endüstrisinin ve teknolojilerinin ülkemizde de gelişimine katkı sağlamaktır.

Sports Business Week 2017, Elazig, Turkey

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The first ever #SBWeek17 event in Turkey! This event is part of a full week of sports business networking events all across the world. Tickets areTRY10 each with 100% of the proceeds donated to The V Foundation for Cancer Research.

Come out and network with other sports business professionals. All backgrounds are welcome, from those just starting out to industry veterans. Please pass this along to any friends and colleagues that would also be interested in attending. The more word spreads, the more value every event has to those that attend.

Thanks to Sebahattin Devecioğlu and EKOSPOR (www.ekospor.com) for all of the help with our first event in Turkey!

Türkiye’de ilk defa “Spor Sektörü Haftası ” Semineri
“Sports Business Week 2017” 15 Eylül 2017 de Fırat Üniversitesi, Spor Bilimleri Fakültesi, Seminer Salonu, Elazığ da düzenlendi

Hestourex – World Health, Sport, Tourism Congress & Exhibition 2017

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Hestourex – World Health, Sport, Tourism Congress & Exhibition, is going to be held in Antalya, Turkey between 06th and 09th of April 2017.

Hestourex Congress & Exhibition is supported by the Ministry of Foreign Affairs, Ministry of Culture and Tourism, Ministry of Economy, Ministry of Health, Ministry of Development, Ministry of Youth and Sports of Turkey.

Hestourex has gradually evolved to become Turkey’s First and Only platform, where thousands of people from the health tourism, sports tourism and sustainable tourism sectors across the globe meet to discuss the policies and procedures, legal framework, latest trends, competitors & stakeholders, medical tour business acumen, certification, how & with whom to tie up for business.

Hestourex Exhibition mainly focuses on the representatives of health tourism, sport tourism and alternative tourism industries from all over the world.

Hestourex Exhibition will also conduct a Hosted Buyers Program, with participants from at least 50 countries, providing them with an opportunity collaborate and conduct business with suppliers from Turkey.

We will invite key decision makers of health, sport and alternative tourism industries in order for them to develop business with their Turkish counterparts. We will cover flight, accommodation and transfer costs of these hosted buyers.

In order to be qualified for Hosted Buyers Program, please first call or email us ASAP informing about yourself, your business and your plan to develop new business or enhancing the existing business in health, sport and alternative tourism areas. http://www.hestourex.com/

The Economics of Sports

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For undergraduate courses in sports economics, this book introduces core economic concepts developed through examples from the sports industry.

The sports industry provides a seemingly endless set of examples from every area of microeconomics, giving students the opportunity to study economics in a context that holds their interest. The Economics of Sports explores economic concepts and theory of industrial organization, public finance, and labor economics in the context of applications and examples from American and international sports.

Economics of Sports Lessons

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EconEdLink provides a premier source of classroom-tested, Internet-based economic and personal finance lesson materials for K-12 teachers and their students. With over 435 lessons to choose from, teachers can use as many of the lessons as they would like and as often as they would like.
Economics of Sports

Many students (and teachers) are huge sports fans and illustrating economic concepts using real-world examples from the world of professional sports engages students in a way that abstract models can’t. Professional sports offers many opportunities to teach fundamental economic concepts such as supply and demand, incentives, comparative advantage, and many more. This collection of lessons will give you fresh ideas for teaching beyond the textbook.

PwC’s Sports Survey 2016

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As the sports industry continues to navigate choppy waters, its ongoing growth is becoming increasingly dependent on its ability to adapt to the global megatrends that are shaping business decisions around the world.

In order to gauge the mood among leading international sports federation executives, we conducted a survey that assesses the extent to which demographic and social change, shifts in global economic power and technological advances are affecting decision-making in the sports industry.

The key findings of the survey include the fact that leading sports executives remain largely optimistic in the face of the many threats faced by the sports industry, are increasingly investing in digital solutions, and see the Asia Pacific region as the industry’s priority growth area.

CaptureSportFor more information, the full set of findings of the survey and the insights that we were able to derive from them are summarized and accessible in our report, entitled PwC’s Sports Survey 2016.

The Adelphi Online Sports Management

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The Adelphi online Sports Management degree helps you to develop the professional skills and personal leadership strategies you need to thrive in the sports industry, and cultivate the professional network to help you make it happen with a sport management degree that is: A sports management degree can help propel you towards any one of a number of careers in the exciting world of sports. Adelphi’s online Sports Management degree is designed to prepare you to approach roles of leadership confidently in a variety of different areas, including:Intercollegiate Sport, Professional Sport,Sport marketing, Sport Journalism and Media,Community-Based Sport,Fitness and Sports Club Management

8th International Sport Business Symposium

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Viva sua paixao‘ – Live your passion! This is the official slogan for the 2016 Olympic Games in Rio de Janeiro. Following this spirit, we would like to welcome you to Rio for the 8th International Sport Business Symposium, organised by Professor Holger Preuss (Mainz) in cooperation with Professor Lamartine DaCosta (Rio de Janeiro).

The host must undertake tremendous efforts to not only fulfil the requirements for staging the Games, but also to maximize the economic, social, environmental, political, and structural benefits which come along with the event. This demand is underpinned in the IOC’s Agenda 2020.
The current programme includes a workshop ‘Sustainability and Legacy’. Those members of the IOC Commission on Sustainability and Legacy will meet with selected scholars from around the world to discuss and shape the newly developed legacy framework.

Additionally there will be a discussion group which includes the topic: ‘What Rio 2016 can contribute for the upcoming 2017-2020 in education programs’.

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