Free Agency, Competitive Balance, and Diminishing Returns to Pennant Contention

This article argues that the 1976 introduction of free agency increased competitive balance in Major League Baseball. The evidence is based on a new empirical measure that captures the key dynamic element of balance: year‐to‐year fluctuations in team performance. My hypothesis is that diminishing re...

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Bibliographic Details
Published in:	Economic inquiry Vol. 39; no. 3; pp. 430 - 443
Main Author:	Eckard, E. Woodrow
Format:	Journal Article
Language:	English
Published:	Oxford, UK Blackwell Publishing Ltd 01-07-2001 Blackwell Publishers Ltd Western Economic Association
Subjects:	Agency Baseball Baseball players Baseball teams Bidding Case studies Compensation and benefits Competition Cooperation Evidence Free agency History Human resource management Hypotheses Hypothesis Leisure economics Mathematical models Professional baseball Standard deviation Studies U.S.A United States United States > US
Online Access:	Get full text
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