Ducking Beamers: A Cricket Blog

Sorry for the lack of posting; was away on vacation with the family. During the trip, I had an interesting conversation with my father about the IPL and the value of cricket. Our question was: How do you begin to attach a dollar figure to an obsession like cricket? It’s one thing to say, as many (annoyingly) do, that cricket is a religion in India. But is it also a lucrative one? If it is an obsession, are people making rational, properly modeled decisions, or ones based purely on sentiment and personal attachment?

At its heart, this question stems from a dispute between disciplines: economists like to think that buyers and sellers meet in a marketplace and are motivated purely by precise definitions of their own utility and prices (which are themselves decided by supply and demand). Sociologists and social psychologists, on the other hand, argue that societal norms have…

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