Warum „geniale Ideen“ für wissenschaftlichen Erfolg nicht ausreichen- Überlegungen zur besonderen Ökonomik der Etablierung wissenschaftlicher Standards
AbstractThis 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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Bibliographic InfoPaper provided by University of Zurich, Institute for Strategy and Business Economics (ISU) in its series Working Papers with number 0005.
Length: 41 pages
Date of creation: 2002
Date of revision:
Other versions of this item:
- Egon Franck & Carola Jungwirth, 2001. "Warum „geniale Ideen“ für wissenschaftlichen Erfolg nicht ausreichen- Überlegungen zur besonderen Ökonomik der Etablierung wissenschaftlicher Standards," Working Papers 0001, University of Zurich, Institute for Strategy and Business Economics (ISU).
- B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
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