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Warum „geniale Ideen“ für wissenschaftlichen Erfolg nicht ausreichen- Überlegungen zur besonderen Ökonomik der Etablierung wissenschaftlicher Standards

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Author Info
Egon Franck () (Institute for Strategy and Business Economics, University of Zurich, Institute for Strategy and Business Economics, University of Zurich)

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Abstract

This paper analyzes the institutional setup of major league sports. In particular, it looks at reasons for the organization of leagues as cooperatives of team-owners, the specific employment relation of a commissioner as enforcement mechanism for rules of the league, and the centralized marketing of television rights as an important and controversial example thereof. Conventional wisdom portrays the existing league organization as a cartel that exploits market power, the commissioner as an institution to enforce cartel stability, and the centralized marketing of television rights as a profit maximizing device. In contrast, this paper shows that the existing institutional structure can be explained by efficiency arguments: It reduces shirking in teams, protects specific investments, and provides insurance against quality uncertainty.

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File URL: http://www.isu.uzh.ch/static/ISU_WPS/5_ISU_full.pdf
File Format: application/pdf
File Function: First version, 2002
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Publisher Info
Paper provided by University of Zurich, Institute for Strategy and Business Economics (ISU) in its series Working Papers with number 0005.

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Length: 41 pages
Date of creation: 2002
Date of revision:
Handle: RePEc:iso:wpaper:0005

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  1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-95, December. [Downloadable!] (restricted)
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  2. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law & Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
  3. Adler, Moshe, 1985. "Stardom and Talent," American Economic Review, American Economic Association, vol. 75(1), pages 208-12, March. [Downloadable!] (restricted)
  4. Simon Rottenberg, 1956. "The Baseball Players' Labor Market," Journal of Political Economy, University of Chicago Press, vol. 64, pages 242. [Downloadable!] (restricted)
  5. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
  6. Peter J. Sloane, 2000. "The Regulation of Professional Team Sports," IASE Conference Papers 0003, International Association of Sports Economists. [Downloadable!]
  7. El-Hodiri, Mohamed & Quirk, James, 1971. "An Economic Model of a Professional Sports League," Journal of Political Economy, University of Chicago Press, vol. 79(6), pages 1302-19, Nov.-Dec.. [Downloadable!] (restricted)
  8. Kenney, Roy W & Klein, Benjamin, 1983. "The Economics of Block Booking," Journal of Law & Economics, University of Chicago Press, vol. 26(3), pages 497-540, October.
  9. Daly, George & Moore, William J, 1981. "Externalities, Property Rights and the Allocation of Resources in Major League Baseball," Economic Inquiry, Oxford University Press, vol. 19(1), pages 77-95, January.
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