5.30 pm – 8 pm (EDT) / 11.30 pm – 2 am (CEST)
Lecture at the GHI Washington | Speaker: Stefan Szymanski (University of Michigan). Moderator: Arpad von Klimó (The Catholic University of America)
Soccer is the world's dominant sport, it is also among the least profitable. Professional clubs in particular have a history of loss making, financial collapse and bankruptcy. This is in stark contrast to the highly profitable major leagues of the US. This appears paradoxical but in fact conforms to standard economic concepts or perfect competition and monopoly, as taught in every economics 101 class. Under perfect competition firms make zero economic profits and business thrives, under monopoly, profits are vast but growth is constrained.
Doors will open at 5:30 pm and will close promptly at 6:00 pm with the beginning of the lecture. Access to the lecture after doors close will be at discretion of the GHI. Registration does not guarantee access once event capacity is reached.
The lecture will be recorded and made available for viewing.