Behavioural Sports Economics

Economists have entered into the realm of sports to provide what they believe to be more cogent explanations for sport-related behaviour and to suggest ways in which incentives can improve sports outcomes. But prices and income, the traditional workhorses of conventional economics, can only provide partial explanations and understandings. Drawing on a bounded rationality approach to behavioural economics, this book demonstrates the analytical insights to be gained by supplementing the conventional economics toolbox with psychological, cognitive, sociological, and institutional factors.
The international cast list of contributors cover a wide range of sports topics on which a behavioural approach can reveal new insights. These include preferences, managerial, efficiency, choking, doping, favouritism, athlete well- being, and spectator behaviour. Throughout the book, there is an emphasis on the cognitive limits to smart decision-making as well as the critical role played by the decision-making environment. This volume demonstrates that adopting a bounded rationality approach, complimented with other behaviouralist approaches, helps to better explain sport-related behavioural, sub-optimal behavioural, and market failures. It also provides insights that could be used to improve sports outcomes and the well-being of those involved in sports and to better configure policy to enhance sports performance.
This groundbreaking book will be an indispensable reference to students and scholars of sports economics, sports management, and sports science.

Hannah Josepha Rachel Altman is in the final stages of her PhD in Behavioural Sports Economics at the Queensland University of Technology Business School (QUT) in Brisbane, Australia. Morris Altman is Chair Professor of Behavioural and Institutional Economics, and Co-operatives and Dean at the University of Dundee School of Business, University of Dundee, Scotland, UK. He is also an Emeritus Professor at the University of Saskatchewan, Canada. Benno Torgler is Professor of Economics at the Queensland University of Technology (QUT) and also at the Centre for Behavioural Economics, Society and Technology (BEST), leading the programme "Behavioural Economics of Non-Market Interactions" that covers the sub-programmes Sportometrics, Sociometrics, Scientometrics, and Cliometrics.

Chapter 1. Introduction: Behavioural Sports Economics Part 1The Big Picture Chapter 2. Sport as a Behavioural Economics Lab Chapter 3. Sports Performance, Procedural Rationality and Organizational Inefficiency Chapter 4. Institutional Dynamics in Sports - How Governance, Rules and Technology Interact Part 2Incentives, Governance, and Sports Behaviour Chapter 5. Wrong Behaviour Due to Wrong Incentives: How to Transform Doping into a Self-defeating Game Chapter 6. Discrimination, Disequilibrium and Disincentives: Behavioural Economics in Women's Sport Chapter 7. Winner Alright? New Evidence on High-Stakes Bidding and Returns to Ownership in the Thoroughbred Horseracing Industry Part 3Momentum and Reference Points in Sports Behaviour Chapter 8. Does Psychological Momentum Differ for Home and Away Teams? Evidence from Penalty Shoot-Outs in European Cups Chapter 9. Reference Point Behaviour and Sports Chapter 10. The Importance of the Serve in Winning Points in Tennis: A Bayesian Analysis Using Data for the Two Winners of the 2019 French Open Singles Part 4Heuristics, Sports, Behaviour and Outcomes Chapter 11. Beauty, Preferences and Choice Exemplified in the Sports Market Chapter 12. Moneyball and Decision-Making Heuristics: An Intersection of Statistics and Practical Expertise Part 5Fans, Fan Behaviour, and Sports Outcomes Chapter 13. Reference Dependent Preferences, Outcome Uncertainty, and Sports Fan Behaviour: A Review of the Literature Chapter 14. Moving towards behavioural stadium attendance demand research: First lessons learned from exploring football spectator no-show behaviour in Europe Part 6Happiness, and Socioeconomics Determinants of Sports Participation Chapter 15. The Relationship of Happiness and Sport Chapter 16. Using Behavioral Economics to Improve Health Through Sports Participation and Physical Activity Chapter 17. Socio-Economic and Demographic Correlates of Sports Participation in Canada