The President of Williams College faces a firestorm for not allowing the women's lacrosse team to postpone exams to attend the playoffs. The University of Michigan loses $2.8 million on athletics despite averaging 110,000 fans at each home football game. Schools across the country struggle with the tradeoffs involved with recruiting athletes and updating facilities for dozens of varsity sports. Does increasing intensification of college sports support or detract from higher education's core mission?

James Shulman and William Bowen introduce facts into a terrain overrun by...