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Using Baseball Card Prices to Measure Star Quality and Monopsony

Author

Listed:
  • Charles J. Mullin
  • Lucia F. Dunn

Abstract

Baseball card prices are used to capture star quality in a new measure of productivity in Major League Baseball. Star quality, which impacts revenues, is determined from a player's baseball card price as the residual in a fit of card prices to performance statistics. This measure is entered into the computation of individual player marginal revenue product and compared to players' salaries using data from the four years leading up to the 1994 MLB strike. Results are examined for monopsonistic exploitation by market size, free agency status, type of player, and other relevant categories. Underpaid and overpaid players are identified. Copyright 2002, Oxford University Press.

Suggested Citation

  • Charles J. Mullin & Lucia F. Dunn, 2002. "Using Baseball Card Prices to Measure Star Quality and Monopsony," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 620-632, October.
  • Handle: RePEc:oup:ecinqu:v:40:y:2002:i:4:p:620-632
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    Citations

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    Cited by:

    1. Carrieri, V.; & Jones, A.M.; & Principe, F.;, 2018. "Health shocks and labour market outcomes: evidence from professional football," Health, Econometrics and Data Group (HEDG) Working Papers 18/01, HEDG, c/o Department of Economics, University of York.
    2. Egon Franck & Stephan Nüesch, 2012. "Talent And/Or Popularity: What Does It Take To Be A Superstar?," Economic Inquiry, Western Economic Association International, vol. 50(1), pages 202-216, January.
    3. Julianne Treme, 2010. "Effects of Celebrity Media Exposure on Box-Office Performance," Journal of Media Economics, Taylor & Francis Journals, vol. 23(1), pages 5-16.
    4. Francesca Cornaglia & Naomi E. Feldman, 2017. "Productivity, Wages, and Marriage: A Case Study in Professional Athletics," Working Papers 818, Queen Mary University of London, School of Economics and Finance.
    5. Arthur Zillante, 2005. "Survival in a Declining Industry: The Case of Baseball Cards," Industrial Organization 0505004, EconWPA.
    6. Carrieri, Vincenzo & Principe, Francesco & Raitano, Michele, 2017. "What makes you "super-rich"? New evidence from an analysis of football players' earnings," Ruhr Economic Papers 681, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    7. Leif Brandes & Egon Franck & Stephan Nuesch, 2006. "Local Heroes and Superstars - An Empirical Analysis of Star Attraction in German Soccer," Working Papers 0046, University of Zurich, Institute for Strategy and Business Economics (ISU), revised 2007.
    8. 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).
    9. Julianne Treme & Samuel K. Allen, 2009. "Widely Received: Payoffs to Player Attributes in the NFL," Economics Bulletin, AccessEcon, vol. 29(3), pages 1631-1643.
    10. Thompson Thomas H & Sen Kabir C, 2011. "Valuing Nostalgia: The Case of the Topps 1957 Baseball Cards," Journal of Quantitative Analysis in Sports, De Gruyter, vol. 7(2), pages 1-16, May.

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