Thanks for the memories: baseball veterans' end-of-career salaries
AbstractIt is well-established that a baseball player's salary is based on his performance, experience, star status, bargaining power, mobility and his team's ability to pay. This paper focuses on veteran players who are on the brink of retirement and on the determinants of their salaries. It is found that a veteran's end-of-career peak salary depends upon how his career performance, that his most recent performance is irrelevant unless he has spent his entire career with one team, and that the average veteran's salary peaks after 9 years in the Majors. A corollary inference is that general managers recognize and reward player performance over the long haul in comparison with others who have played at that player's principal position, and with a nod to how history will evaluate that player. © 1998 John Wiley & Sons, Ltd.
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Bibliographic InfoArticle provided by John Wiley & Sons, Ltd. in its journal Managerial and Decision Economics.
Volume (Year): 19 (1998)
Issue (Month): 6 ()
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- Pedro Garcia-del-Barrio & Francesc Pujol, 2007. "Hidden monopsony rents in winner-take-all markets-sport and economic contribution of Spanish soccer players," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 57-70.
- Turner, Chad & Hakes, Jahn Karl, 2007. "The Collective Bargaining Effects of NBA Player Productivity Dynamics," MPRA Paper 5058, University Library of Munich, Germany.
- Turner, Chad & Hakes, Jahn, 2007.
"Pay, productivity and aging in Major League Baseball,"
4326, University Library of Munich, Germany.
- Jahn Hakes & Chad Turner, 2011. "Pay, productivity and aging in Major League Baseball," Journal of Productivity Analysis, Springer, vol. 35(1), pages 61-74, February.
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