The economics of sport has been a dynamic branch of economic research in recent years. This reflects the size and salience of the sports industry in many countries and increasingly as an international phenomenon. Professional sports leagues and individual mega-events can be multi-billion-dollar activities driven as much, and sometimes more, by economics as by the sporting aspect. The clear set of rules and ‘big data’ available from many sports has also provided fertile ground for testing and refining responses to incentives and core elements of game theory and behavioural economics.
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Lessons from the Field
Edited by John K. Wilson and Richard Pomfret
John K. Wilson
Many people believe that interest in history has waned. University offerings of history degrees have fallen, and there are constant calls to reform and reinvent the teaching of history in our schools. While this may be to some extent true, it is interesting to observe that the sense of history held by most sports fans is deep, and has certainly not changed in many decades. Teams are remembered for their memorable clashes and rivalries, achievements, and on occasion, even their demise over time. Players even long dead are remembered, discussed and compared against their contemporaries. There is a fondness for old stadiums, leagues and these are constantly used as a benchmark against which modern sports are measured.