- Concrete Examples
Theories about economics and human behavior are notoriously difficult to test and analyze in a real-world setting. According to economist Ignacio Palacios-Huerta, soccer provides a useful laboratory and ample data for explaining economics. He argues that “the beautiful game” has a number of valuable characteristics that make it perfect for analyzing elements of human behavior, game theory and the efficient market hypothesis, and he extracts a number of pioneering and remarkable results from his research. While this is very much an economics text that uses soccer as its springboard, it offers plenty of sports anecdotes and trivia to broaden its appeal to those with little interest in deciphering technical economic texts. getAbstract believes this extended metaphor, with its unlikely fusion of subjects, will intrigue sports fans and economists alike.
About the Author
Ignacio Palacios-Huerta is a professor at the London School of Economics.