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Profit-Maximising Sports Franchises II
Manage episode 310362223 series 3053306
Innehåll tillhandahållet av La Trobe University and Dr Liam Lenten. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av La Trobe University and Dr Liam Lenten eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.
This lecture sets up a formal model of sports team behaviour (from Rod Fort), working from the common starting assumption of profit-maximisation (though noting certain caveats to this). We model one particular factor of production, labour (players' wages), and see how the teams' decisions on amount of labour affect not only revenues, costs and ultimately profits, but also team quality and how often they 'win'. These conclusions then make it possible to infer a few useful conclusions about the way the sports industry works, particularly in North America.
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