Behavioural Sports Economics (Routledge Advances in Behavioural Economics and Finance)

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.