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Sporting contests have provided mass entertainment throughout history, and today generate revenues of approximately $200 billion annually in the US alone. Like in the entertainment industry, the modern sports industry s revenues are based on the entertainment value of output and more entertaining sporting contests imply greater game-day attendance, television revenues and sales of merchandise. Research by economists has attempted to understand and explain behavior as it relates to sporting contests, showing that standard microeconomic theory used to explain consumer and producer behavior...

Sporting contests have provided mass entertainment throughout history, and today generate revenues of approximately $200 billion annually in the US alone. Like in the entertainment industry, the modern sports industry's revenues are based on the entertainment value of output and more entertaining sporting contests imply greater game-day attendance, television revenues and sales of merchandise. Research by economists has attempted to understand and explain behavior as it relates to sporting contests, showing that standard microeconomic theory used to explain consumer and producer behavior...