Edited by Victor J. Tremblay, Elizabeth Schroeder and Carol Horton Tremblay
This chapter reviews existing theoretical and empirical literature on the intercollegiate and professional sports industries, including professional and intercollegiate sports leagues and the fitness center/health club industry, from a behavioral economic perspective. Since firm and industry outputs, firm input choices and consumer decisions in sports are readily observable and standard economic models of rational choice generate clear predictions about what firms and consumers should do, the sports industry is a natural industrial setting for behavioral economic research. The chapter covers behavioral biases in decisions made by teams and team managers, behavioral biases resulting from industry-wide policies in the sports industry like entry drafts, behavioral biases in decisions made by referees and biases in interpreting industry outcomes. It also examines behavioral biases in decisions made by customers in the industry, sports fans, and finally turns to the impact of behavioral biases on contracts and consumer choices in the fitness center/health club industry.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.