"This timely Modern Guide offers critical insights into developments in both professional and recreational sports through the lens of the economic forces that determine them. It explores the benefits of the relationship between sports and economics, highlighting ways that economic research can...

Contents: Introduction -- 1. Oliver Budzinski (Ilmenau University of Technology, Germany) and Arne Feddersen (University of Southern Denmark, Denmark): Measuring competitive balance in formula one racing -- 2. Carlos Gomez-Gonzalez (University of Castilla-La Mancha, Spain) and Julio del Corral...

Competition is the very essence of professional sports, yet how do we measure it? Has the level of competition changed over time? Can organizers influence the degree of competition, for example, by changing rewards? How does the audience appreciate competition? The Economics of Competitive...