Economists are often asked – and perhaps, just as often just volunteer – to make predictions. This is odd, since – as the old joke goes – economists only seem to exist to make meteorologists look good. In other words, economists often get their guesses about the future wrong.
Given this tendency, I always like to note when I get a prediction right (and it has actually happened before). And prior to the Olympics, I did predict that the U.S. would win the gold medal in men’s basketball. And on Sunday, that prediction came true.
Okay, that wasn’t much of a prediction (did anyone predict that wouldn’t happen?). And despite the lack of challenge with respect to this prediction, I also heavily qualified my original forecast. Nevertheless, I did make something that could be called a prediction. And it was right. So that means something! Read More »
ESPN.com recently offered a somewhat confusing article comparing the 2012 U.S. Men’s Olympic basketball team to the 1992 Dream Team. The headline of the article – “LeBron: We Would Beat Dream Team” – makes it clear that LeBron James believes the 2012 team would defeat the 1992 Dream Team.
The first line of the story, though, makes a somewhat different claim: “LeBron James has joined Kobe Bryant in saying that he believes this year’s Team USA Olympic men’s basketball team could beat the 1992 Dream Team.”
And then further in the article, we see…
Read More »
James’s comments echoed those of Bryant, who two weeks ago made a similar proclamation.
“It would be a tough one, but I think we would pull it out,” Bryant said at a news conference. “People who think we can’t beat that team for one game, they are crazy. To sit there and say we can’t, it’s ludicrous. We can beat them one time.”
Bryant appeared to soften those comments a bit Friday, telling reporters, “I didn’t say we were a better team. But if you think we can’t beat that team one time? Like I’m going to say no, that we’d never beat them.
“They are a better team. The question was ‘Can we beat them?’ Yes we can. Of course we can.”
The Charlotte Bobcats came into existence in 2004. At the conclusion of the next five seasons, the Bobcats finished out of the playoffs and hence earned a trip to the NBA’s lottery.
After all of these lottery picks, the Bobcats finally made the playoffs in 2010. That Bobcat team – the best in franchise history – only won 44 games and failed to win a playoff game. Nevertheless, this squad was the highlight in the brief history of this team.
Two short years after this epic campaign (epic by Bobcat standards), Charlotte has posted the worst season in franchise history. In fact, with a winning percentage of only 0.106, the 2011-12 Bobcats were the worst team in NBA history.
If we look at what happened to Charlotte’s roster, it is easy to see why this team became so bad so quickly. Back in 2009-10 the Bobcats were led by the following players (Wins Produced numbers taken from theNBAGeek.com, explanation of Wins Produced offered here): Gerald Wallace, Raymond Felton, Boris Diaw, Stephen Jackson, Nazr Mohammed, and Tyson Chandler. Read More »
Our latest Freakonomics Radio on Marketplace podcast is called “Playing the Nerd Card.”
It’s about the rise in basketball players (and other athletes) showing up at press conferences wearing the kind of eyeglasses usually associated with Steve Urkel and Buddy Holly. Among the practitioners: LeBron James, Dwyane Wade, Kevin Durant and Russell Westbrook, Carmelo Anthony, and Robert Griffin III.
What’s going on here? Has the rate of myopia exploded, even among premier athletes?
We talk to Susan Vitale, a research epidemiologist with the NIH’s National Eye Institute, who worked on a large study on myopia in the U.S. There has indeed been a huge spike in recent decades, and it’s especially pronounced among blacks. Read More »
Here is how the Associated Press led the story describing the Miami Heat’s elimination of the New York Knicks in the 2012 NBA Playoffs:
The final horn sounded, and LeBron James wrapped his arms around Carmelo Anthony in a warm embrace.
Their head-to-head scoring matchup in this series was even, 139 points apiece.
Just about everything else tipped Miami’s way — so the Heat are moving on and the New York Knicks are going home.
Such a lead gives the impression that Carmelo Anthony and LeBron James played about the same in this series. If we delve a bit deeper, though, we see that the scoring totals are quite deceptive. Read More »
If you have been watching the NBA recently – and with the playoffs going on, you should be – you may have seen the following ad for Sprint.
Often people don’t pay attention to what people say in ads. But this one – starring Kevin Durant of the Oklahoma City Thunder – has a very interesting opening line: “Man I was double-teamed. With no one to pass it to, so I pulled up and hit the shot for the win…”
Let’s think about this for the moment. Durant says he has two defenders on him (i.e. he is double-teamed). That means – if the other team is playing the standard five players, there are three more defenders on the court. And if Durant has four teammates on the court (and that would be standard), there must be someone open. But Durant says that there is no one to pass it to.
Hmmmm…. Read More »
One of our earliest Freakonomics Radio podcasts wondered whether the NFL might someday sell ads on players’ game-day uniforms (there is already sponsorship on practice jerseys). After all, it’s common practice in soccer, even in the U.S.
As Bloomberg Businessweek reports, the NBA might beat the NFL to the punch:
Read More »
What’s not so certain is what a jersey deal is really worth. Front Row Marketing Services, whose parent company, Comcast-Spectacor, runs 11 regional sports networks and owned the Philadelphia 76ers until last fall, figures the annual cost to companies to place their logos on uniforms would range from $1.2 million to $7.5 million per year, depending mainly on the market where the team plays.
A study by Horizon Media last year put the annual value of the television exposure of the space across an NBA jersey’s chest in a range from $4.1 million for the L.A. Lakers to $300,000 for the Minnesota Timberwolves. [David] Abruytin [sic], whose IMG arranged the partnership deal between the NBA and its official automotive partner Kia Motors, says those numbers are probably low. He estimates the Lakers could fetch $10 million to $15 million per year.
March Madness is in the air. Over the next few weeks the nation will be focused on the fortunes of 68 college teams. And all this focus on a supposedly amateur sport generates tremendous amounts of money. For example, in 2010 CBS and Turner Broadcasting agree to pay the NCAA $10.8 billion to broadcast these games for fourteen seasons. This money represents more than 90% of the NCAA’s revenues.
Since colleges and universities tend to be non-profit, who gets all this money? One person who seems to benefit is John Calipari, head basketball coach at the University of Kentucky. Last summer, Kentucky extended Calipari’s contract, with a new deal that will pay him $36.5 million across the next eight seasons. Contracts like this – which seem comparable to what an NBA coach might command — are somewhat surprising. As economist Andrew Zimbalist has observed, the revenues of college sports – although apparently immense – pale in comparison to what we see in professional sports. And that leads one to wonder how a coach in college can command such a salary. Read More »