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On the Evaluation of the ‘‘Most Important’’ Position in Professional Sports

Author

Listed:
  • David J. Berri

    (Department of Economics & Finance, Southern Utah University, Cedar City, USA, berri@suu.edu)

  • Stacey L. Brook

    (Department of Economics, Tippie School of Business, University of Iowa, USA)

Abstract

This article investigates whether general managers in the National Hockey League (NHL) evaluate the playing talent of goalies efficiently. The authors examine both the voting record for the Vezina Award (Best Goalie) and salary data from free agent goalies to ascertain how the goalie position is evaluated by general managers in the NHL. The authors find that general managers evaluate past performance of goalies efficiently. However, the authors also find observed differences in goalie performance are quite small. Furthermore, NHL goalies are quite inconsistent across time. These aspects of goalie performance are not taken into account by decision makers in the NHL, leading us to conclude that inefficiencies in this labor market exist.

Suggested Citation

  • David J. Berri & Stacey L. Brook, 2010. "On the Evaluation of the ‘‘Most Important’’ Position in Professional Sports," Journal of Sports Economics, , vol. 11(2), pages 157-171, April.
    • Handle: RePEc:sae:jospec:v:11:y:2010:i:2:p:157-171
    DOI: 10.1177/1527002510363097
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    References listed on IDEAS

    as
    1. David J. Berri & Martin B. Schmidt & Stacey L. Brook, 2004. "Stars at the Gate," Journal of Sports Economics, , vol. 5(1), pages 33-50, February.
    2. North, Douglass C, 1994. "Economic Performance through Time," American Economic Review, American Economic Association, vol. 84(3), pages 359-368, June.
    3. Cade Massey & Richard Thaler, 2005. "Overconfidence vs. Market Efficiency in the National Football League," NBER Working Papers 11270, National Bureau of Economic Research, Inc.
    4. David Romer, 2006. "Do Firms Maximize? Evidence from Professional Football," Journal of Political Economy, University of Chicago Press, vol. 114(2), pages 340-365, April.
    5. Jahn K. Hakes & Raymond D. Sauer, 2006. "An Economic Evaluation of the Moneyball Hypothesis," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 173-186, Summer.
    6. Berri, David J. & Schmidt, Martin B., 2002. "Instrumental versus bounded rationality: a comparison of Major League Baseball and the National Basketball Association," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(3), pages 191-214.
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    Cited by:

    1. W. David Allen, 2021. "Work Environment and Worker Performance: A View from the Goal Crease," Journal of Labor Research, Springer, vol. 42(3), pages 418-448, December.
    2. Qi Ge & Michael J. Lopez, 2016. "Lockouts and Player Productivity," Journal of Sports Economics, , vol. 17(5), pages 427-452, June.

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