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Phil Miller
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I don't follow the NFL as much as I did as a kid, but the Steelers is the team I call my favorite team (although the Chiefs are fun to watch). I became a Steelers fan in the early 70's... Continue reading
Posted Dec 21, 2022 at Market Power
This week in my Sports Econ class I'll be talking about, among other things, the draft as a measure to promote competitive balance. I will also talk about the perverse incentives that certain draft structures may cause, one being tanking:... Continue reading
Posted Nov 15, 2022 at Market Power
Here is another little concept from Walter Neale's classic 1964 QJE paper "The Peculiar Economics of Professional Sports". One of the peculiarities he discusses is the multi-firm plant (a reconsideration of the more familiar multi-plant firm). The concept of "plant"... Continue reading
Posted Nov 14, 2022 at Market Power
I've been reading through Walter Neale's 1964 classic "The Peculiar Economics of Professonal Sports." In this paper, he describes various oddities about pro team sports as compared to the economic theory an economics student might learn, particularly those from the... Continue reading
Posted Nov 11, 2022 at Market Power
I've been reading through Walter Neale's 1964 paper "The Peculiar Economics of Professional Sports." One of the peculiarities he discusses is what he terms "the fourth estate benefit." The "fourth estate" has historically referred to newspapers, magazines, over-the-air and cable... Continue reading
Posted Nov 10, 2022 at Market Power
I believe that Rod Fort penned this at The Sports Economist way back in the day a year after Simon Rottenberg, the father of Sports Economics, had passed. In 1956, the Journal of Political Economy published Simon Rottenberg’s seminal piece... Continue reading
Posted Nov 10, 2022 at Market Power
So MLB locked out its players early today. This is the first labor "stoppage" since the strike of 1994 that led to the cancellation of the World Series that year. Remember the Montreal Expos? They are now the Washington Nationals.... Continue reading
Posted Dec 2, 2021 at Market Power
There are two, count 'em TWO new working papers on the NBER website. Maybe this sports econ thingy is going to become a big thing. BIG, I say! I haven't read but their abstracts at this time. The first one... Continue reading
Posted Nov 8, 2021 at Market Power
Professional sports leagues are thought by many to be natural monopolies. This makes sense because fans of a sport want to have one overall champion in a sports. Who's the best? Since there is one champion, the most efficient number... Continue reading
Posted Apr 7, 2021 at Market Power
From NPR: "Defying Parents, A Teen Decides to Get Vaccinated." My, how times have changed. Back when I was a kid in the 70's and early 80's, teens used to listen to loud hard rock music turned up to 11,... Continue reading
Posted Feb 10, 2019 at Market Power
From Bryan Caplan: Today my 8th-grade homeschoolers take the Advanced Placement test in Macroeconomics. Back in 1989, when I took this exam, it covered little more than 1960s Keynesianism. The current test is marginally better. Now we've got long-run Aggregate... Continue reading
Posted May 11, 2017 at Market Power
Here is the abstract to a new NBER by Christopher Avery, Brian Cadman, and Gavin Cassar entitled "Academics vs. Athletics: Career Concerns for NCAA Division I Coaches." We analyze the promotions and firings of NCAA Division 1 college basketball and... Continue reading
Posted Mar 29, 2016 at Market Power
This is from Michael D. Noel and Travis Roach in a paper recently published by Economic Inquiry entitled “Regulated And Unregulated Substitutes: Aversion Effects Of An Ethanol Mandate”. Here is the abstract. “One approach for handling more aggressive goals under... Continue reading
Posted Mar 28, 2016 at Market Power
“When a key responsibility of a manager is to allocate more or less attractive tasks, subordinates have an incentive to work hard and demonstrate their talents. As a new manager is less well informed, management dismissals reinvigorate this tournament competition—but... Continue reading
Posted Mar 25, 2016 at Market Power
What do you get when you cross the Monkees' 'I'm a Believer" and Iron Maiden's " The Trooper"? You get this. What would you call that song? "I'm a Believer of The Trooper"? Via Mark Stratton on Facebook. Continue reading
Posted Jan 24, 2016 at Market Power
Which US state has the most caves? Tennessee. Missouri has the second most, and a new one has been announced. On that day in November 2010, McCain and fellow explorers were mapping Blackfathom River Cave. Since its discovery in 2007,... Continue reading
Posted Jan 24, 2016 at Market Power
As microbrew beers have become more popular, the intrinsic characteristics of beer have become more important in consumer purchasing decisions. We identify sensory properties that influence consumers’ willingness to pay for beer using a contingent valuation model that includes subjective... Continue reading
Posted Oct 8, 2014 at Market Power
Put the Kelvin-Helmholtz wave cloud on my bucket list too. Here's another example that clearly shows that these clouds look like waves of water coming ashore. Here is a discussion on what causes them. Continue reading
Posted May 27, 2014 at Market Power
Dear Surly Brewing, Please bring this back and make it available year-round in Mankato, Mn. To paraphrase Ferris Bueller: I love drinking it. It is so choice. If you have the means, I highly recommend picking it up. Continue reading
Posted May 21, 2014 at Market Power
Some may think that Minneapolis getting the 2018 Super Bowl is a surprise. When I heard the news, I "meh'd". Of course they got the Super Bowl. The NFL has been dangling the Super Bowl carrot for years to entice... Continue reading
Posted May 21, 2014 at Market Power
If I had a bucket list of clouds to see before I die, the horseshoe vortex cloud would be on the list. Here's info on why this cloud does what it does. Continue reading
Posted May 20, 2014 at Market Power
Deadspin has some pics of the now-abandoned Silverdome, the dome where the Detroit Lions used to play, and they also have a little narrative of how the dome in Pontiac, Mi. came to be another ruin. A sample: Continue reading
Posted May 16, 2014 at Market Power
Ronnie James Dio died 4 years ago today. I remember reading the news on the Wall Street Journal's mobile site that Sunday and came inside to share the bad news. After all, misery loves company. Here's the dialogue that I... Continue reading
Posted May 16, 2014 at Market Power
Since my family and I moved up here, the Mankato-North Mankato meso area didn't have its own local bakery. Instead, we were treated to gas station donuts and the big grocery chains had their own bakeries. Their bread products, cookies,... Continue reading
Posted May 16, 2014 at Market Power