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Ownership of property-rights and the allocation of talents

Listed author(s):
  • Haoming Liu
  • Yohanes Riyanto

Under the reserve-clause system that assigns the property-rights on the Major League Baseball players' services to teams, player transfers are negotiated between teams without the involvement of players. In contrast, under the current free-agency system, players with free-agent status negotiate directly with potential suitors. Thus, the system assigns the property-rights to players. Using data extracted from the Baseball Archive (http://baseball1.com), this article examines the effect of the change in the property-rights assignment on the allocation of talents across teams. We find that the change increased large-market teams' shares of veteran all-star players and the concentration of senior players.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840701392869
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Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 41 (2009)
Issue (Month): 26 ()
Pages: 3425-3436

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Handle: RePEc:taf:applec:v:41:y:2009:i:26:p:3425-3436
DOI: 10.1080/00036840701392869
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