The Economics of Sports

With Lance Armstrong back in the news for doping, the newest EconTalk Podcast about the economics of sports couldn't have come at a better time. While the business and financing aspects of sports industries are interesting, this podcast gives a rough introduction to the economics of sports, which is different, and much more interesting. Basically its goal is to apply economic thinking and methodology to answer questions about sports industries. Classic topics include: the economic impact of new stadiums, differences in labor relationships between sports (college football versus NFL, for example), strategic incentives for regulators and players (example: doping), and of course using econometrics to evaluate players and teams (example: Moneyball's sabermetrics). Ever wonder why so many sports stadiums are out in the middle of nowhere surrounded by a moat of roads and parking lots? How about why Stanford is able to compete with massive taxpayer-funded state school behemoths? Better get listening.