For this post I decided to write about the National Basketball Association. The NBA is an American run association of 30 teams that compete yearly for the NBA title. Already being very familiar with this league I decided to do some deeper research to learn more. My first source taught me about the economics in the NBA. I learned how important media was for the NBA. It wasn’t until television was popularized and the NBA was being broadcaster all across the USA that it became popular.Media gave the NBA to market and show off their players and teams not only in America but worldwide. The next source I found taught me about how losing had a factor in the NBA. The NBA being a tournament system they have 30 teams compete every year in 81 games to earn a spot in this tournament more commonly know as the playoffs. This is where teams play to eliminate each other in games to 7. Once the season is over there is an NBA draft, this is where losing becomes important. The lower your overall record is the higher your draft pick is to pick the new age of players. So the worse teams have a higher chance of getting the better players the next year. next I looked at what determines the most valuable player. At the end of each year one player is given an MVP trophy or a trophy given to the most valuable player. This article showed how one can determine an MVP. As an example they used the great Michael Jordan. He won 5 of these trophies so he is very familiar with them. Michael won them because of not only his effortless ability to score , but more importantly to win. He won 6 championships, and was the top team at the end of the season many many years.
Bibliography:
Hausman, Jerry A., and Gregory K. Leonard. “Superstars in the National Basketball Association: Economic Value and Policy.” Journal of Labor Economics, vol. 15, no. 4, 1997, pp. 586–624. JSTOR, http://www.jstor.org/stable/10.1086/209839. Accessed 18 Feb. 2020.
Taylor, Beck A., and Justin G. Trogdon. “Losing to Win: Tournament Incentives in the National Basketball Association.” Journal of Labor Economics, vol. 20, no. 1, 2002, pp. 23–41. JSTOR, http://www.jstor.org/stable/10.1086/323930. Accessed 18 Feb. 2020.
Nelson, Murry. Journal of Sport History, vol. 40, no. 3, 2013, pp. 512–513. JSTOR, http://www.jstor.org/stable/10.5406/jsporthistory.40.3.512. Accessed 18 Feb. 2020.
Berri, David J. “Who Is ‘Most Valuable’? Measuring the Player’s Production of Wins in the National Basketball Association.” Managerial and Decision Economics, vol. 20, no. 8, 1999, pp. 411–427. JSTOR, http://www.jstor.org/stable/3108257. Accessed 18 Feb. 2020.
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