Kevin G. Quinn
This chapter uses economics in the sense of decision making under scarcity and uncertainty to examine several aspects of American football. It then explores the field position and strategy, and describes how it is possible to put a statistical value, say, in terms of expected points, on field position, on the choice of whether to run or pass, and on what to do on fourth down. In addition, the chapter addresses the previous research and results based on the 2007 National Football League season. The search for competitive advantage provides strong incentive for coaches and teams to keep their strategy research secret. Fourth down strategy decisions suggest that endowment effects, anchoring effects, and even denomination effects could cause cognitive biases in decision making. The suboptimality findings challenge the pure win maximization models that are favored in most of the North American sports economics literature.
This article explores the history of Major League Baseball (MLB) and the three cases of competition from rival leagues. The early history shows the rough and tumble competition outcomes for the American Association (AA), Union Association (UA), Players League (PL), and Federal League (FL). It also reveals the decidedly different outcome that reduced competition in the case of the African American Leagues (AALs), the Pacific Coast League (PCL), and the Continental League (CL). There is no evidence of concerted collusive effort to end the PCL's chance as a rival major league. The welfare of fans at the major-league level was reduced, on net. It might be argued that minor league-level play was replaced by major league level play and then AAA baseball spread to cities that previously had enjoyed even lower-level classifications.
Fabrizio Onida, Giuseppe Berta, and Mario Perugini
Only two Italian multinationals born in very early twentieth century are surviving today (Fiat and Pirelli), while a number of public and private business that in the early post-war period had reached significant positions in the global business environment (such as Olivetti, Montecatini, SNIA, IRI-Ilva, Farmitalia) gradually disappeared or were sold to either Italian or foreign ownership. Since the mid-1980s a new wave of private SMEs ("fourth capitalism") became new protagonists of a rapid transformation from strong exporters to growing multinationals competing in sizeable world market niches. The chapter provides an overview of successes and failures of this peculiar pattern of multinational growth and decline of Italian firms.
Franco Amatori, Matteo Bugamelli, and Andrea Colli
Firms are one of the main characters of any economy and an excellent observatory for monitoring a nation's evolution. The history of Italy's productive system in the last 150 years is divided into three parts, corresponding to a similar number of industrial revolutions. While firms obtained excellent results in the first two, their inability to grow further inhibited the wide use of the Third Industrial Revolution's features, information and communication technologies. This became a serious obstacle for Italy reaching the international economic frontier. There are many causes-political and economic, macro and microeconomic, domestic and international-behind the turnaround in Italy's economic performance, but the key one was firm size. The argument is developed along three steps. First: firm size is positively correlated to innovation, internationalization, adoption of advanced technologies, and ability to face new competitive challenges; larger firms record higher productivity both in levels and growth rates. Second: the distribution of firms in terms of dimensions was adequate until the 1970s, but defective later on. Finally: because firm size is not a given (but an endogenous choice of entrepreneurs), this chapter examines some key entrepreneurs and managers so as to identify the main features of Italian entrepreneurship.