Austrian themes, data, and sports economics

Stephen Shmanske ()

The Review of Austrian Economics, 2007, vol. 20, issue 1, pages 11-24

Abstract: This paper uses data from Major League Baseball and themes from Moneyball by Michael Lewis to empirically illustrate Kirznerian entrepreneurship. While Kirzner envisioned competition in markets for profit, the sports economics literature shows that sporting competition has things in common with market competition. This is important because a strength of sports economics, namely, the abundant data, can help overcome a perceived weakness of Austrian economics, namely, the lack of empirical content. This paper describes and empirically confirms how certain front office decision makers of the Oakland Athletics were alert to opportunities that were being overlooked by other baseball executives. Copyright Springer Science+Business Media, LLC 2007

Keywords: Austrian economics; Kirznerian entrepreneurship; Sports economics (search for similar items in EconPapers)

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