The Economics of Fantasy Football!
Have you ever wanted to own a winning sports team or achieve the glory of winning a championship? You can with the game called fantasy football. This game is a competition of who can score the most points based on the selection of different NFL (National Football League) players. The YouTube video can explain how the system works better than I can, so watch it before you continue to read.
The appeal of this game is that you get to feel like an NFL owner and pick and choose who is on your team. You determine who is on your team based on how a certain player performs from week to week. The player is a commodity that brings value to your team.
Trading your commodity with another owner is the exciting part. Sometimes you must try and convince an owner to exchange one player for another based on your needs and the needs of that owner. I might trade one of my backup quarterbacks to a guy who needs a quarterback in exchange for a new Defense because mine isn't performing well. This type of trade is doesn’t involve as much coercion. However, sometimes another owner might twist your arm when trading you a player you don’t want.
I have been playing this game with my friends and family for three years. We don’t have a prize for the winner except bragging rights. I like fantasy football because I watch football and I get to somewhat engage with the players that watch every weekend on TV.
Hi Josh!
I really enjoyed reading your post, and I love how you connected fantasy football and economics! When I wrote about soccer for my post, it never occurred to me how much economics plays a role in fantasy sports, but now I wish it had! Trading commodities is definitely one of the key ways in which economics and fantasy football are related. Moreover, the law of demand applies to fantasy football. When the price of a player in the game decreases, his demand may increase. Taking the opportunity cost of spending one's fake budget on a player also plays an important role.