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000695172 020__ $$a9781461478850 $$qelectronic book
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000695172 08204 $$a338.47796$$223
000695172 1001_ $$aRockerbie, Duane W.
000695172 24510 $$aRun to the pennant$$h[electronic resource] :$$ba multiple equilibria approach to professional sports leagues /$$cDuane W. Rockerbie, Stephen T. Easton.
000695172 260__ $$a[New York] :$$bSpringer,$$c2013.
000695172 300__ $$a1 online resource.
000695172 4901_ $$aSports economics, management, and policy
000695172 5050_ $$aChapter 1. Introduction -- Chapter 2. Use of empirical data to motivate the theoretical model. (new work) -- Chapter 3. A review of the two-team and N-team profit-maximizing model of a league -- Chapter 4. An exposition of the profit-maximizing league model with multiple equilibria. (some new work) -- Chapter 5. Roles for policy in the presence of multiple equilibria. (new work) -- Chapter 6. Empirical tests for multiple equilibria in sports leagues (new work) -- Chapter 7. Concluding thoughts and suggestions for future work.
000695172 506__ $$aAccess limited to authorized users.
000695172 520__ $$aAnumber of clubs in professional sports leagues exhibit winning streaks over a number of consecutive seasons that do not conform to the standard economic model of a professional sports league developed by El Hodiri and Quirk (1994) and Fort and Quirk (1995). These clubs appear to display what we term "unsustainable runs", defined as a period of two to four seasons where the club acquires expensive talent and attempts to win a league championship despite not having the market size to sustain such a competitive position in the long run. The standard model predicts that clubs that locate in large economic markets will tend to acquire more talent, achieve more success on the field and at the box office than clubs that are located in small markets. This book builds a model that can allow unsustainable runs yet retains most of the features of the standard model. The model is then subjected to empirical verification. The new model we develop in the book has as its central feature the possibility of generating two equilibria for a club. In the empirical sections of the book, we use time-series analysis to attempt to test for the presence of unsustainable runs using historical data from National Football League (NFL), National Basketball Association (NBA), National Hockey League (NHL) and Major League Baseball (MLB). The multiple equilibria model retains all of the features of the standard model of a professional sports league that is accepted quite universally by economists, yet it offers a much richer approach by including an exploration of the effects of revenues that are earned at the league level (television, apparel, naming rights, etc.) that are then shared by all of the member clubs, making this book unique and of great interest to scholars in a variety of fields in economics.
000695172 588__ $$aDescription based on print version record.
000695172 650_0 $$aProfessional sports$$xEconomic aspects$$zUnited States.
000695172 650_0 $$aProfessional sports$$zUnited States$$xManagement.
000695172 7001_ $$aEaston, Stephen T.
000695172 77608 $$iPrint version:$$aRockerbie, Duane W.$$tRun to the pennant.$$d[S.l.] : Springer-Verlag New York, 2013$$z1461478847$$w(OCoLC)841495295
000695172 830_0 $$aSports economics, management, and policy.
000695172 85280 $$bebk$$hSpringerLink
000695172 85640 $$3SpringerLink$$uhttps://univsouthin.idm.oclc.org/login?url=http://dx.doi.org/10.1007/978-1-4614-7885-0$$zOnline Access
000695172 909CO $$ooai:library.usi.edu:695172$$pGLOBAL_SET
000695172 980__ $$aEBOOK
000695172 980__ $$aBIB
000695172 982__ $$aEbook
000695172 983__ $$aOnline
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