Institutional Change and Factor Movement in Major League Baseball: An Examination of the Coase Theorem’s Invariance Principle

Institutional Change and Factor Movement in Major League Baseball: An Examination of the Coase... One version of the Coase Theorem suggests that the distribution of resources is invariant to the assignment of rights. The lack of real world examples has made empirical tests difficult. However, such a ‘rights’ change did occur in Major League Baseball in the 1970s where the ‘rights’ of players were switched from owners to players. We examine whether this change impacted the distribution of players. In the end, the characteristics of player movement do appear to have been impacted by the re-assignment of rights and therefore, calls into question the relevance of this version of the Coase Theorem. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

Institutional Change and Factor Movement in Major League Baseball: An Examination of the Coase Theorem’s Invariance Principle

Loading next page...
 
/lp/springer_journal/institutional-change-and-factor-movement-in-major-league-baseball-an-Da0ahWZFOy
Publisher
Springer US
Copyright
Copyright © 2011 by Springer Science+Business Media, LLC.
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1007/s11151-011-9308-6
Publisher site
See Article on Publisher Site

References

  • Estimating and testing linear models with multiple structural changes
    Bai, J.; Perron, P.
  • Testing for and dating common breaks in multivariate time series
    Bai, J.; Lumsdaine, R. L.; Stock, J. H.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 12 million articles from more than
10,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Unlimited reading

Read as many articles as you need. Full articles with original layout, charts and figures. Read online, from anywhere.

Stay up to date

Keep up with your field with Personalized Recommendations and Follow Journals to get automatic updates.

Organize your research

It’s easy to organize your research with our built-in tools.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

Monthly Plan

  • Read unlimited articles
  • Personalized recommendations
  • No expiration
  • Print 20 pages per month
  • 20% off on PDF purchases
  • Organize your research
  • Get updates on your journals and topic searches

$49/month

Start Free Trial

14-day Free Trial

Best Deal — 39% off

Annual Plan

  • All the features of the Professional Plan, but for 39% off!
  • Billed annually
  • No expiration
  • For the normal price of 10 articles elsewhere, you get one full year of unlimited access to articles.

$588

$360/year

billed annually
Start Free Trial

14-day Free Trial