ABSTRACT
This section of the book presents seven chapters examining the economics of sport. The economic analysis of professional team sports has a long pedigree dating back to seminal articles from Rottenberg (1956) and Neale (1964) in which the unique importance of playing talent (i.e. labor) to the economic activity in sport leagues was identified as well as other unique features of sport. These include the joint production of sporting contests by teams and the consequent hypothesized need for uncertainty of outcome (or its longer term equivalent competitive balance) for the economic viability and growth of leagues. Discussion about how best to theorize about the market structure of sport leagues also developed.
