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The Economics of Association Football
Elgar Mini Series
The football industry has long been the subject of theoretical and empirical analysis by economists. A study of the economics of football throws up a range of intriguing questions - from what determines the level of attendance at football matches to how efficient football managers are in producing team performance, given the playing resources available. This important collection considers these and other questions - such as: What drives the transfer value of players? How has the changing structure of football's labour market affected sporting and financial outcomes? How effective have football leagues been in maintaining competitive balance? Do football clubs seek to maximise profits? How predictable are football matches? Is the football betting market efficient?
This authoritative two volume collection pulls together the work of leading sports economists over the last five decades to answer these and other questions using consumer theory, labour economics, industrial organisation and a range of other theoretical insights combined with econometric analysis. These innovative volumes bring together a careful synthesis of applied economics that will be of interest to all those concerned with analysing the real world.
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What Reviewers Are Saying
`The Economics of Association Football has a well-deserved spot on my bookshelf. In a technically competent and eminently readable style, with many new insights, Professor Gerrard provides the essential converge (demand, supply, labor, league structure, industrial performance) and much more. We get the first comprehensive treatment of betting market efficiency determined by actual match outcomes. And we are all better off from his impressive comparison of open leagues (promotion and relegation) and closed leagues (North American style). In the vernacular "a master on the sports business pitch scores a clear goal".' -- Rodney D. Fort, Washington State University, US