Class Notes For Sports Economics, 1st Edition

Class Notes For Sports Economics, 1st Edition offers concise yet comprehensive class notes, making revision easier and more effective.

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1BerriChapter 1It’s Just Supply and DemandObjectivesTo appreciate the importance of math in sports economics by applying the MarshallianMethod.To understand the fundamentals and the contributing variables of the Marshallian Cross,the standard supply and demand model.To differentiate between deductive reasoningand inductive reasoning and to understandwhen it is appropriate to useeach methodologyand howthe two methods work intandem.OutlineI.Chapter objectivesII.Insports, perception and realitydon’t always matchIII.The Marshallian MethodIV.Marshall and the demand curvea.Use mathematics as a shorthand languagetill your model yields conclusions.b.Translate into English and illustrate by examples that are important in real lifeV.Just a matter of timeVI.The Marshallian CrossVII.What determines ticket prices?VIII.“The Decision” teaches us how marketimpediments have unintended consequences

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Subject

Economics

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Sports Economics by David Berri

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