Stephen Shmanske, professor emeritus of economics at Cal State East Bay (Photo: Stephen Shmanske)
CSUEB economist on how sports can be used to test new business theories
- March 12, 2013 5:00am
An abundance of data from the sports world on the management, turnover, performance and compensation of professional athletes is finding a new purpose with economists. California Smart Business magazine interviewed Stephen Shmanske, professor emeritus of economics at Cal State East Bay, about what business leaders can learn from economists who use sports data to test market efficiencies and business theories.
“We can learn a lot about human nature, motivation and beating the odds by studying copious data from the world of sports,” said Shmanske. “Economists can review the results of golf or tennis tournaments to determine the optimal way to structure sales contests or other incentives.” For example, he said, when economists compared whether men and women perform differently based on prize structure, the researchers found no differences in performance when the participants were vying for the same purse.
Princeton Review has rated Cal State East Bay as one of the country's "Best Business Schools" for seven consecutive years.
California State University, East Bay is the San Francisco East Bay Area's high-access public university of choice. CSUEB serves the region with campuses in Hayward and Concord, a professional development center in Oakland, and an innovative online campus. With an enrollment of more than 14,000, the University offers a nationally recognized freshman year experience, award-winning curriculum, personalized instruction, and expert faculty. Students choose from among more than 100 professionally focused fields of study for which the University confers bachelor's and master's degrees, as well as an Ed.D. in education. Named a "Best in the West" college, as well as a Best Business School, by the influential Princeton Review, Cal State East Bay is among the region's foremost producers of teachers, business professionals and entrepreneurs, public administrators, health professionals, literary and performing artists, and science and math graduates.