The Upside Potential of Hiring Risky Workers: Evidence from the Baseball Industry
AbstractMaking use of performance data for baseball players, this article provides empirical evidence in support of Lazear's (1998) theoretical predictions that (1) risky workers will earn a premium for their upside potential, (2) this risk premium will be higher the longer a worker's work life, and (3) firms must enjoy some comparative advantage in the labor market to be willing to pay a premium to risky workers. The validity of Lazear's predictions carries implications for wage differentials between young and old workers and between men and women.
Download InfoIf 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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 21 (2003)
Issue (Month): 4 (October)
Contact details of provider:
Web page: http://www.journals.uchicago.edu/JOLE/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Oyer, Paul & Schaefer, Scott, 2011.
"Personnel Economics: Hiring and Incentives,"
Handbook of Labor Economics,
- Daniel, Rascher & John Paul, Solmes, 2007.
"Do Fans Want Close Contests? A Test of the Uncertainty of Outcome Hypothesis in the National Basketball Association,"
25829, University Library of Munich, Germany.
- Daniel A. Rascher & John Paul G. Solmes, 2007. "Do Fans Want Close Contests? A Test of the Uncertainty of Outcome Hypothesis in the National Basketball Association," International Journal of Sport Finance, Fitness Information Technology, vol. 2(3), pages 130-141, August.
- Francesca Cornaglia & Naomi E. Feldman, 2011.
"Productivity, Wages and Marriage: The Case of Major League Baseball,"
CEP Discussion Papers
dp1081, Centre for Economic Performance, LSE.
- Cornaglia, Francesca & Feldman, Naomi E., 2011. "Productivity, Wages, and Marriage: The Case of Major League Baseball," IZA Discussion Papers 5695, Institute for the Study of Labor (IZA).
- John D. Burger & Stephen J.K. Walters, 2008.
"The Existence and Persistence of a Winner's Curse: New Evidence from the (Baseball) Field,"
Southern Economic Journal,
Southern Economic Association, vol. 75(1), pages 232-245, July.
- John D. Burger & Stephen J.K. Walters, 2006. "The Existence and Persistence of a Winner’s Curse: New Evidence from the (Baseball) Field," Working Papers 0625, International Association of Sports Economists & North American Association of Sports Economists.
- Peter Groothuis & Richard Hill & Timothy Perri, 2004. "Early Entry in the NBA Draft: The Influence of Unraveling, Human Capital and Option Value," Working Papers 04-05, Department of Economics, Appalachian State University, revised 2005.
- Edward P. Lazear & Paul Oyer, 2007.
NBER Working Papers
13480, National Bureau of Economic Research, Inc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journals Division).
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.