Download or read book Team Performance Efficiency and Wage Distribution in Professional Baseball written by Octavian Vasilescu and published by . This book was released on 2008 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of wage inequality on team production is an important question in labor economics. Data from sports are well suited to study this problem, with more than 10 published papers in the last decade. We analyze the effect of wage inequality both on team performance and efficiency, using data from Major League Baseball(MLB) and a stochastic frontier model with a translog production function. Most studies have examined the impact of inequality within a linear framework, and found that more equal pay structures enhance team production. This presupposes that there is no limit to benefficial effects of equality in pay, an idea which seems suspect. In this paper we allow for a possible non-linear relationship between wage inequality and team performance, and find that most MLB teams have wage structures which are sub-optimal. Furthermore using a semi-parametric estimation we find that high efficiency teams have a lower degree of wage inequality than low efficiency teams. This suggests that teams first compete by trying to adjust the structure of the wages to the optimum and then increasing the amount of total wages.
Download or read book The Economics of Sports written by Michael A. Leeds and published by Routledge. This book was released on 2018-04-27 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sports industry provides a seemingly endless set of examples from every area of microeconomics, giving students the opportunity to study economics in a context that holds their interest. Thoroughly updated to reflect the current sports landscape, The Economics of Sports introduces core economic concepts and theories and applies them to American and international sports. Updates for this sixth edition include: More coverage of international sports, including European football; A revised chapter on competitive balance, reflecting new techniques; A brand-new chapter on mega-events such as the Olympics and World Cup; New material on umpire bias; A completely redesigned chapter on amateur competition that focuses exclusively on intercollegiate sports. This chapter is also now modular, enabling instructors who wish to intersperse it with the other chapters to do so with greater ease. This accessible text is supported by a companion website which includes resources for students and instructors. It is the perfect text for advanced undergraduate and graduate courses on sports economics.
Download or read book Frontiers in Major League Baseball written by John Ruggiero and published by Springer Science & Business Media. This book was released on 2010-11-03 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the application of Data Envelopment Analysis (DEA) to Major League Baseball (MLB). DEA is a nonparametric linear programming model that is used across academic disciplines. In sports economics, authors have applied the technique primarily to assess team and/or managerial efficiency. The basis for performance analysis is economic production theory, where it is assumed that baseball can be viewed as a production process whereby inputs (player quality measures) are transformed into outputs (wins, attendance). The primary advantage that DEA has over more traditional regression based approaches is the ability to handle multiple inputs and multiple outputs. Further, the approach is nonparametric and hence, does not require a priori specification of the production function. The book develops the theory of DEA in the context of a production environment. A focal point is the assessment of technical and cost efficiency of MLB teams. It is shown that previous frontier applications that measure efficiency provide biased results given that the outcome of a game is zero-sum. If a team loses a game due to inefficiency, another team wins a lost game. A corrected frontier is presented to overcome this problem. Free agent salary arbitration is analyzed using a dual DEA model. Each free agent's contract zone is identified. The upper and lower bounds, representing the player's and team's perspective of value, respectively, are estimated. Player performance is estimated using a modified DEA model to rank order players based on multiple attributes. This model will be used to evaluate current Hall of Fame players. We provide arguments for other players who are deserving of membership. We also use our measure of performance and evaluate age-performance profilers for many ball players. Regression analysis is used to identify the age of peak performance. The method is used to evaluate some of the all-time greats. We also use the method to analyze admitted and implicated steroid users. The results clearly show that performance was enhanced. This book will provide appropriate theoretical models with methodological considerations and interesting empirical analyses and is intended to serve academics and practitioners interested in applying DEA to baseball as well as other sports or production processes. >
Download or read book Handbook of Production Economics written by Subhash C. Ray and published by Springer Nature. This book was released on 2022-06-02 with total page 1797 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three-volume handbook includes state-of-the-art surveys in different areas of neoclassical production economics. Volumes 1 and 2 cover theoretical and methodological issues only. Volume 3 includes surveys of empirical applications in different areas like manufacturing, agriculture, banking, energy and environment, and so forth.
Download or read book The Structure of Wages written by Edward P. Lazear and published by University of Chicago Press. This book was released on 2009-05-15 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: The distribution of income, the rate of pay raises, and the mobility of employees is crucial to understanding labor economics. Although research abounds on the distribution of wages across individuals in the economy, wage differentials within firms remain a mystery to economists. The first effort to examine linked employer-employee data across countries, The Structure of Wages:An International Comparison analyzes labor trends and their institutional background in the United States and eight European countries. A distinguished team of contributors reveal how a rising wage variance rewards star employees at a higher rate than ever before, how talent becomes concentrated in a few firms over time, and how outside market conditions affect wages in the twenty-first century. From a comparative perspective that examines wage and income differences within and between countries such as Denmark, Italy, and the Netherlands, this volume will be required reading for economists and those working in industrial organization.
Download or read book Research in Personnel and Human Resources Management written by M. Ronald Buckley and published by Emerald Group Publishing. This book was released on 2014-06-04 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 32 of Research in Personnel and Human Resources Management (RPHRM) contains seven papers on important issues in the field of human resources management. The subject matter in this volume covers myriad areas: compensation, performance evaluation, reputation, employee furloughs, and research methodology.
Download or read book Business Performance Measurement and Management written by Vincent Charles and published by Cambridge Scholars Publishing. This book was released on 2014-10-02 with total page 595 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring and managing the performance of a business is one of the main requirements of the management of any organization. This book introduces new contexts and themes of application and presents emerging research areas related to business performance measurement and management. It draws authors from all around the globe from a variety of functional disciplines, all of whom are working in the field of business performance measurement and management, thus resulting in a variety of perspectives on performance measurement from various functional areas – accounting, finance, economics, marketing, and operations management – in a single volume.
Download or read book The Economic Theory of Professional Team Sports written by Stefan Késenne and published by Edward Elgar Publishing. This book was released on 2014-05-30 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This revised and updated edition of The Economic Theory of Professional Team Sports elaborates on the themes of the successful first edition of this book.
Download or read book New Governance Paradigm written by Thodupuzha M. Joseph and published by Gyan Publishing House. This book was released on 2008 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globalization is one of the most debated concepts in contemporary discussions in the domain of development. The emerging paradigm of governance in the area of globalization reframes the roles of institutions of state, market and civil society. This involves questioning of the erstwhile dominant role of other institutions. Weakening and erosion of major modern institutions of governance such as legislature, bureaucracy and judiciary in third world reflects the growing governance crisis. Social tension and conflicts based on identity are on rise. This has significant implications on issues such as social equity, justice and environment that affect the life of people, especially the third world poor. This collection addresses some pertinent issues that emanate from the emerging paradigm of governance. The major areas of concern are globalization, civil society, gender social services and infrastructure. This documentation will help carry forward creation of knowledge and formulation of strategies in the field of rural management to meet the future challenge of rural development.
Download or read book Winning and Wage Inequality in Major League Baseball written by Octavian Vasilescu and published by . This book was released on 2008 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effect of wage inequality on team production is an important question in labor economics. Data from sports are well suited to study this problem, with more than 10 published papers in the last decade. We analyze the effect of wage inequality on team performance, using an unique dataset from Major League Baseball. Most studies have examined the impact of inequality within a linear model framework, and found that more equal pay structures enhance team production. This presupposes that there is no limit to beneficial effects of equality in pay, an idea which seems suspect. We specify and model a more reasonable data generating process for sportive contests, based on the differences between relative characteristics of the teams. Monte Carlo experiments reveal that estimating linear models using winning percentage as a dependent variable results in having biased and inconsistent estimates, which confounds any inference based on them, thus favoring our modeling strategy. Using our improved modeling procedure, we allow the relationship between wage inequality and winning to be non-linear, based on an insight by Lazear (1991), and we confirm the existence of an optimum level of wage inequality, finding evidence supporting the tournament theory of Lazear and Rosen (1981).
Download or read book Encyclopedia of Sports Management and Marketing written by Linda E. Swayne and published by SAGE Publications. This book was released on 2011-08-08 with total page 1960 pages. Available in PDF, EPUB and Kindle. Book excerpt: This four-volume set introduces, on the management side, principles and procedures of economics, budgeting and finance; leadership; governance; communication; business law and ethics; and human resources practices; all in the sports context. On the marketing side this reference resource explores two broad streams: marketing of sport and of sport-related products (promoting a particular team or selling team- and sport-related merchandise, for example), and using sports as a platform for marketing non-sports products, such as celebrity endorsements of a particular brand of watch or the corporate sponsorship of a tennis tournament. Together, these four volumes offer a comprehensive and authoritative overview of the state of sports management and marketing today, providing an invaluable print or online resource for student researchers.
Download or read book Contract Options for Buyers and Sellers of Talent in Professional Sports written by Duane W Rockerbie and published by Palgrave Macmillan. This book was released on 2020-11-06 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot re-examines salary formation in Major League Baseball in light of real option theory to clarify the connection between salary and marginal revenue product for professional baseball players. Current literature has tended to treat single-year and multi-year contracts similarly, ignoring the potential option value for teams and for players. Recent work points to the observation that both high-productivity and low-productivity athletes have salaries that systematically differ from their marginal revenue product, and that free agents signing multi-year contracts are overpaid relative to free agents signing one-year contracts. This book argues that the value of signing an athlete to a contract should be determined similarly to the determination of the value of an investment project or a financial asset. This book demonstrates how to calculate the value of real options to the player and the team owner with a simple two-year contract, and offers extensions to the real options model for multiyear contracts or when a player is early or late in his career.
Download or read book The Oxford Handbook of Sports Economics Volume 2 written by Leo H. Kahane and published by Oxford University Press. This book was released on 2012-05-24 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shmanske and Kahane have organized over 50 essays from prominent Sports Economists into two volumes around two related themes. This second volume explains how sports helps economics via quality data used to test a variety of economic theories.
Download or read book Handbook of Sports Economics Research written by John Fizel and published by Routledge. This book was released on 2017-07-05 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: The wealth of data available on sports makes the industry a singular laboratory for observing economic and business behavior and theory. This unique reference on sports economics research provides a detailed perspective on the current state of the discipline. Covering both team and individual sports that include tennis, golf, and motor racing, the handbook explores what we know, what we do not know, what is stable, what is changing, what is certain, and what is controversial in sports economics. The expert contributors address issues in particular sports or comparisons among sports along major topics such as revenue and costs, labor markets, market structure, market outcomes, and public policy.
Download or read book Personnel Economics in Sports written by Neil Longley and published by Edward Elgar Publishing. This book was released on 2018 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines personnel economics within the context of the professional sport industry. Sport is an effective industry in which to empirically test theories of personnel economics, primarily because the employer-employee relationship in sport is much more visible and transparent than in almost any other industry. Researchers benefit from having data on a host of variables pertaining to individual employees (i.e. players), such as their age, race, national origin, and experience. Researchers also have data on each employee's performance, on their salary, and on who their co-workers (teammates) and managers (coaches) are. The chapters are organized around the core functional areas of personnel economics and cover all aspects of the employment relationship in sport - from recruiting and selection, to pay and performance, to work team design. Each chapter contains a thorough literature review that provides the reader with a sense of the breadth and depth of the work being done in the area, and with a sense as to how the literature can move forward, both in a sport and non-sport context. The book is suitable for an advanced undergraduate course right through to a PhD-level field-course in both management and economics. Academic researchers in the fields of sports economics, personnel economics, human resource management, strategic management and sport management will also find the book of interest. Contributors include: D. Berri, C. Deutscher, B. Frick, L.H. Kahane, N. Longley, J.G. Maxcy, J. Prinz, R. Simmons, D. Weimar
Download or read book The Economics of Sport written by Robert Sandy and published by Bloomsbury Publishing. This book was released on 2017-03-14 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text, by three distinguished authors, applies the theories and techniques of economic analysis to sport and topics related to the business of sport. It builds on a basis of introductory microeconomics and continues the discussion, generally at an intermediate standard. The text has an international perspective, primarily the US, Canada, Europe and Australia, and contains relevant and entertaining case studies. The text suits both undergradute and postgraduate students in that while it provides a clear progression of topics throughout, it also incorporates optional sections in each chapters of a higher and more challenging level.
Download or read book The Business of Sports written by Dennis R. Howard and published by Bloomsbury Publishing USA. This book was released on 2008-06-30 with total page 936 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sports industry is large, visible, and growingand it has a huge impact on society. That's obvious to die-hard fans who not only watch sporting events but buy everything from balls to ties to paperweights with their favorite team's logo. But even sports haters can't escape the onslaught of professional sports: They are asked to chip in as taxpayers to build public stadiums, and their children are, like it or not, exposed to events sponsored by alcohol and tobacco companies, not to mention the juvenile antics of star athletes. Businesses, of course, take a hit in productivity when the Olympicsor World Series or Super Bowl or World Cuprolls around. Yet most of us love to watch, and play. The Business of Sports takes on this endlessly fascinating behemoth of an industry to make sense of it all. Yes, sports is big business. How big? Estimates of total annual U.S. spending on sporting goods and services range from $250 to $560 billion a year, and spending related to organized sport alone has been estimated at $200 billion per year. And it's getting bigger, casting an ever-larger shadow over the entire globe. The Business of Sports throws light on the subject by exploring the business and economic dynamics of the industry from a diverse array of perspectives that cover the industry's macroeconomic, management, and marketing/promotion issues. Volume 1, Perspectives on the Sports Industry, documents the current size, scope, and magnitude of the sports industry in the U.S. and abroadincluding the U.K. and China. It also examines the importance of the world's most visible sporting events, like the Olympics, and the impact of sporting events broadcast around the world. Volume 2, Economic Perspectives on Sport, takes an in-depth look at the sports industry from an economic perspective. The volume delves into the inner workings of leagues and teams, covering economic issues from the design of sports leagues to franchise financial valuations to salary caps to labor relations. Volume 3, Bridging Research and Practice, fills the gap between scholarly research on sport and practitioners working in the industry. Topics include evaluating talent, maintaining managerial efficiency, analyzing statistical performance indices, and assessing the noneconomic benefits of professional sports. Business and sports are a potent mix of two of the strongest forces moving our society today. And, as the stratospheric salaries of professional athletes indicate, the industry is going through major growth and change. To make sense of it all, it helps to understand the underlying economic principles driving the business decisions made daily by owners and managers in all corners of the world. The unique, multivolume format of The Business of Sports allows sports nuts, journalists, business people, and students to explore the wide variety of issues that fuel the world's crazy passion for all things athletic.
