Question

5) How can the concept of comparative advantage be used to explain the significant increase over time in the percentage of successful field goal attempts in the NFL?

Answer 1

One of the most essential themes in financial matters is comparative advantage.

Comparative advantage refers to a country’s ability to produce a good at a relatively lower cost than other goods it produces, as compared with another country. A country has a comparative advantage in producing a good if its opportunity cost of producing that good is less than that of its trading partner

Correspondingly this idea can be applied to football, most remarkably at places that come two by two, safety, wide receiver, and cautious end.

Take a years ago Baltimore Ravens for instance. At safety they began Ed Reed, and Bernard Pollard, and at wide receiver they began Torrey Smith and Anquan Boldin.

By 2012 wounds had ransacked Ed Reed of his capacity to tackle, however he kept up his elite coverage capacity. Then again Bernard Pollard is fundamentally a celebrated external linebacker, standing 6'0 230 pounds, Pollard is a colossal hitter, and had a larger number of tackles than some other Raven, nonetheless, Pollard's coverage capacity failed to impress anyone. Baltimore hence unwittingly (I expected) sent its comparative advantage during the season finisher run. In monetary terms, on a size of 1-5, 5 being ideal, Ed Reed could create one unit of run uphold , and five units of pass coverage, while Bernard Pollard could deliver two units of pass coverage and five units of run uphold. Ed Reed played profound, having some expertise in pass coverage, and Pollard was regularly found in the crate, spend significant time in run defense. Together, they framed one of the top safety mixes in the NFL, as this organization of comparative advantage had the option to a great extent veil the glaring shortcomings in their games. In any case, when Baltimore understood that they would be not able to stand to leave Ed Reed, they had to cut Bernard Pollard, since it would be close to difficult to track down another safety who could so well veil Pollard's shortcoming in coverage.

Thus, the Ravens beginning wide receivers were Torrey Smith, and Anquan Boldin. Smith is probably the quickest receiver in the NFL, and Boldin, who can a 4.71 forty yard run at the join was likely the slowest beginning receiver in the class. Again the Ravens sent monetary hypothesis to their advantage. Smith worked in profound courses, while Boldin represented considerable authority in courses that necessary body situating, short courses, designs over the center, and end zone tosses. In spite of the fact that neither receiver only ran these examples, this specialization permitted the Ravens to flourish.