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An In-Class Experiment to Teach Marginal Revenue Product Using the Baseball Labor Market and Moneyball

Author

Listed:
  • Jadrian J. Wooten

    (The Pennsylvania State University)

  • Dustin R. White

    (University of Nebraska at Omaha)

Abstract

We describe a class project exploring principles of marginal revenue product and labor markets through the professional baseball labor market. No prior knowledge of baseball is...

Suggested Citation

  • Jadrian J. Wooten & Dustin R. White, 2018. "An In-Class Experiment to Teach Marginal Revenue Product Using the Baseball Labor Market and Moneyball," Journal of Economics Teaching, Journal of Economics Teaching, vol. 3(1), pages 115-133, May.
    • Handle: RePEc:jtc:journl:v:3:y:2018:i:1:p:115-133
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    References listed on IDEAS

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    1. Daniel A. Rascher, 2005. "The Oakland Baseball Simworld," Journal of Sports Economics, , vol. 6(3), pages 335-337, August.
    2. G. Dirk Mateer & Brian O’Roark & Kim Holder, 2016. "The 10 Greatest Films for Teaching Economics," The American Economist, Sage Publications, vol. 61(2), pages 204-216, October.
    3. Becker, William E & Watts, Michael, 1995. "Teaching Tools: Teaching Methods in Undergraduate Economics," Economic Inquiry, Western Economic Association International, vol. 33(4), pages 692-700, October.
    4. David J. Berri & Martin B. Schmidt & Stacey L. Brook, 2004. "Stars at the Gate," Journal of Sports Economics, , vol. 5(1), pages 33-50, February.
    5. Krautmann, Anthony C, 1999. "What's Wrong with Scully-Estimates of a Player's Marginal Revenue Product," Economic Inquiry, Western Economic Association International, vol. 37(2), pages 369-381, April.
    6. Scully, Gerald W, 1974. "Pay and Performance in Major League Baseball," American Economic Review, American Economic Association, vol. 64(6), pages 915-930, December.
    7. Michael Watts & Georg Schaur, 2011. "Teaching and Assessment Methods in Undergraduate Economics: A Fourth National Quinquennial Survey," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(3), pages 294-309, July.
    8. Katherine E. Baird, 2005. "Player Markets, Profits, and Competitive Balance," Journal of Sports Economics, , vol. 6(3), pages 331-334, August.
    9. Jahn K. Hakes & Raymond D. Sauer, 2006. "An Economic Evaluation of the Moneyball Hypothesis," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 173-186, Summer.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Hobbs, Kelsi & Wooten, Jadrian, 2021. "Teaching Principles of Microeconomics with the Economics Media Library," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 3(1), March.
    2. Jon Murphy & John Schuler & Jadrian Wooten, 2020. "Have Coase - Will Travel: New Ways to Teach Coase Using Old Media," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 35(Winter 20), pages 71-86.
    3. Dustin White & Jadrian Wooten, 2023. "Moneyball as a Resource for Teaching Economics," Journal of Economics Teaching, Journal of Economics Teaching, vol. 8(3), pages 194-197, October.
    4. Michael Jaeger & Jadrian Wooten, 2023. "The Most Magical Way to Teach: Disney Music In The Classroom," Journal of Economics Teaching, Journal of Economics Teaching, vol. 8(1), pages 12-23, January.

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    More about this item

    Keywords

    labor; intermediate; MRP; marginal revenue; sports;
    All these keywords.

    JEL classification:

    • A21 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Pre-college
    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate

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