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An Analysis of the Externality of the Professional Sports Market

Han Kai-cheng

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Abstract

The study analyzed the externalities of the professional sports market using the basic theories of microeconomics. The concept of externality includes produce external economies, produce external diseconomies, consumer external economies and consumer external diseconomies. The study identified how the external benefit and cost caused market failure and an inability to realize Pareto efficiency. It further discussed the externality in the market of professional sports including; criteria, charging fees and supplying allowances.

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What this paper is about

The study analyzed the externalities of the professional sports market using the basic theories of microeconomics. The concept of externality includes produce external economies, produce external diseconomies, consumer external economies and consumer external diseconomies. The study identified how the external benefit and cost caused market failure and an inability to realize Pareto efficiency. It further discussed the externality in the market of professional sports including; criteria, charging fees and supplying allowances.

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Available abstract

The study analyzed the externalities of the professional sports market using the basic theories of microeconomics. The concept of externality includes produce external economies, produce external diseconomies, consumer external economies and consumer external diseconomies. The study identified how the external benefit and cost caused market failure and an inability to realize Pareto efficiency. It further discussed the externality in the market of professional sports including; criteria, charging fees and supplying allowances.

Key concepts: Diseconomies of scale, Externality, Pareto principle, Microeconomics, Economics, Market failure, Industrial organization, Business

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