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Wladimir Andreff (Ed.), Disequilibrium Sports Economics: Competitive Imbalance and Budget Constraints

Author

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  • Nicolas SCELLES

    (School of Sport, University of Stirling, UK.)

Abstract

The economics of professional team sport leagues has been built on three main pillars in the US literature: economic equilibrium for the product market and labour market for talent; profit maximisation; and competitive balance between teams (sporting equilibrium). The European literature has brought a fourth pillar: win maximisation with a hard budget constraint (break-even accounting rule). These four pillars have remained little questioned until recently. This emerging literature is one of the motivations for launching a book dealing with disequilibrium. Another is the editor’s conviction that the reality in team sport leagues does not fit with general equilibrium solutions. The first chapter introduces the previous elements and more generally the book while the seven following chapters develop a specific aspect related to disequilibrium: an attempt at modelling; a dynamic non-equilibrium simulation; the metrics of competitive imbalance; gender imbalance on the sports programme market; and the last three chapters on soft budget constraints with three different focuses (comparison between European and US leagues; governance and agency problem; regulation regarding the new UEFA club licensing and Financial Fair Play). As a whole, the book provides an original and realistic view that can and perhaps even must shape the future of sports economics.

Suggested Citation

  • Nicolas SCELLES, 2016. "Wladimir Andreff (Ed.), Disequilibrium Sports Economics: Competitive Imbalance and Budget Constraints," Journal of Economics and Political Economy, KSP Journals, vol. 3(2), pages 393-410, June.
    • Handle: RePEc:ksp:journ1:v:3:y:2016:i:2:p:393-410
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    References listed on IDEAS

    as
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    6. Eric S. Maskin, 1999. "Recent Theoretical Work on the Soft Budget Constraint," American Economic Review, American Economic Association, vol. 89(2), pages 421-425, May.
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    More about this item

    Keywords

    Disequilibrium Sports Economics; Competitive Imbalance; Budget Constraints.;
    All these keywords.

    JEL classification:

    • Z20 - Other Special Topics - - Sports Economics - - - General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General

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