Advanced Search
MyIDEAS: Login to save this article or follow this journal

Institutional Responses to Uncertainty: Evidence from the Transfer Market

Contents:

Author Info

  • F Carmichael
  • D Thomas
Registered author(s):

    Abstract

    In this paper we examine the organisation of the transfer market for association football players in the English Football League adopting a transactions cost framework. The transfer system for professional footballers is effectively the games labour market and we argue that it is characterised by small numbers bargaining and uncertainty and that therefore the transactions cost paradigm is relevant. We analyse 7,367 league transfers between English Football League clubs covering the seasons 1977-8 through 1993-4. Our results suggest that the transfer market has evolved in distinctive ways in response to informational problems. In particular we identify long term relationships between clubs, well established regional markets and the development of the loan system as rational responses to institutional uncertainty. Our conclusion also contains some observations regarding the implications of recent developments affecting the transfer system.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.economicissues.org.uk/Files/2001/100aCarmichael.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by Economic Issues in its journal Economic Issues.

    Volume (Year): 5 (2000)
    Issue (Month): 1 (March)
    Pages: 1-20

    as in new window
    Handle: RePEc:eis:articl:100carmichael

    Contact details of provider:
    Postal: Burton Street, Nottingham, NG1 4BU
    Web page: http://www.economicissues.org.uk
    More information through EDIRC

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:eis:articl:100carmichael. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan Wheatley).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.