When I first started working in the field of sports economics there were no academic journals devoted to the subject, no textbooks, and national meetings for people in the field had just started. About 15 years later, we now have two journals devoted to the subject (Journal of Sports Economics and the International Journal of Sport Finance), at least two textbooks, and in about a week people from around the world will gather at the Western Economic Association meeting to present and discuss nearly 60 new papers (there are also yearly meetings at the Southern Economic Association and of the International Association of Sports Economists).
Although growth in the field has been phenomenal, there is still something missing. For non-economists who wish to understand what sports economics is all about, there doesn’t exists a single comprehensive resource that is easily accessible. Yes, we have textbooks. Textbooks, though, are designed to facilitate communication between a professor and her/his class. These are not really designed for casual reading by the non-academic.
Fortunately, Stefan Szymanski has decided to fill in this gap. Playbooks and Checkbooks: An Introduction to the Economics of Modern Sports was recently published. And in this book Szymanski takes the non-academic through many of the stories told in the sports economic literature.
Although the book is about economics, it begins with a brief history lesson. Szymanski and Andrew Zimbalist previously re-counted the history of soccer and baseball in National Pastime. Szymanski’s latest not only summarizes this history, but also provides further details to help the reader understand the sports enjoyed today have significant historical roots.
Once the history lesson concludes, Szymanski goes into the economics. Once again, this book is for the non-economists. So you will not find any graphs or equations. What you will find are the many stories economists have told about sports.
In fact, many of these stories I have told when I teach the Economics of Sports. These include such topics as…
- competitive balance in professional sports (and how teams are not entirely honest on this subject)
- the functioning of labor markets and the measurement of worker productivity
- the economics and history of discrimination in sports
- the economics and history of free agency and player drafts
- the (supposed) economic impact of sporting events and stadiums
- and the impact of broadcasting revenues on sports
Again, these are topics I cover in my college class. This book, though, presents these topics to people who don’t wish to read a college textbook or sit in a classroom.
It’s important to highlight the accessibility of this book. As noted, there are no graphs or equations. There are also very few footnotes and no end notes. All you will find is clear writing that spells out much of what economists have learned about sports across the past several decades.
So if you were ever interested in learning sports economics – and let’s face it, who isn’t? – this is a book you should go get. It really is a comprehensive introduction to the subject. And I might have mentioned….it is really accessible.
– DJ
The WoW Journal Comments Policy
Wages of Wins Journal 
romalley
June 22, 2009
Will definitely be checking out the textbook, seems really interesting. But in other news…Can we be expecting even a makeshift Draft 09 post some time in the near future?
dberri
June 22, 2009
I posted three comments on the draft. What else would you like?
ana
June 23, 2009
the economics of sports seems like a really interesting class to be in. i would love to learn how the economy effects sports. i wonder how poker would do just because that seems like the sport to be involved most with money…same with horse racing i guess. i heard about this legends challenge poker tournament this september and i wonder how they can do that with the economy this bad. it’s held in the atlantis and that seems pretty extravagent! it involves many famous sports legends. i cant wait to watch that on tv.
-ana
romalley
June 23, 2009
Yeah sorry, I have really enjoyed the posts so far. I was hoping for something like
http://www.draftexpress.com/article/2008-Win-Scores-NBA-Draft-Preview-2932
for 2009. But looking back at it now, that’s a ton of work. I know you and Erich Doerr are both probably too busy to do something like that. So never mind on that. If you or Mr Doerr ever have time it would be extremely appreciated. But the posts you have made so far have been fantastic and I don’t want to get greedy. Thank you for doing the posts you do, I don’t want to come off like unappreciative and demanding like I may have in my first comment.
dberri
June 23, 2009
Erich and I are trying to come up with something before the draft. And I will certainly post on the draft Friday morning. So more is coming.
AOM
June 23, 2009
I have a question about stadiums. You have posted in the past, and I have read other places, how public financing for a new stadium economically doesn’t make sense. I find the argument compelling and I agree with it. I wondered, though, whether there might be exceptions to this.
Tonight is game 2 of the best of 3 championship series of the College World Series (LSU vs. Texas). The CWS is the only NCAA championship that is held every year in the same location. It is held in Omaha, Nebraska. The tournament lasts just over a week, with 8 teams making the tournament, and each team guaranteed at least 2 games.
I am wondering, because the teams are not local (and therefore bring additional revenue to the city – by way of fans, team personnel, etc.), as well as the fact that the CWS is always in Omaha (so fans not connected to any one team participating can make ahead of schedule plans to travel to Omaha for some or all of the CWS), this might make a partially publicly-financed stadium 1) a more viable economic reality; and 2) an actually positive economic reality.
Obviously without significant data, no one could answer #2. But, given your understanding of stadiums in general, could you venture a guess at #1? Does this unique situation make it more likely, less likely, or no different than other publicly-financed stadiums to be economically viable?
Just sort of curious of your off-the-top-of-the-head reaction. Really enjoy your stuff.
AOM