Contract Options for Buyers and Sellers of Talent in Professional Sports (Palgrave Pivots in Sports Economics)


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This Palgrave Pivot re-examines wage formation in Main League Baseball in mild of actual choice concept to make clear the connection between wage and marginal income product for skilled baseball gamers. Present literature has tended to deal with single-year and multi-year contracts equally, ignoring the potential choice worth for groups and for gamers. Latest work factors to the remark that each high-productivity and low-productivity athletes have salaries that systematically differ from their marginal income product, and that free brokers signing multi-year contracts are overpaid relative to free brokers signing one-year contracts. This e book argues that the worth of signing an athlete to a contract must be decided equally to the dedication of the worth of an funding mission or a monetary asset. This e book demonstrates easy methods to calculate the worth of actual choices to the participant and the workforce proprietor with a easy two-year contract, and presents extensions to the true choices mannequin for multiyear contracts or when a participant is early or late in his profession.

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