Journal article
Uncertainty by regulation: Rottenberg's invariance principle
Research in economics, v 70(3), pp 454-467
01 Sep 2016
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
What has come to be called Rottenberg's (1956) "Invariance Principle" states that the same talent allocation would result in a profit-maximizing league with or without interventions often claimed in the name of furthering competitive balance (e.g., a player draft or a reservation system that granted club owners complete control of the player's labor market). While the stuff of undergraduate classes on sports economics, the invariance principle goes virtually ignored in policy. We provide the basic modern theory of the invariance principle, review the empirical work on the topic, and apply meta-analysis thinking to derive future research ideas on this fundamental sports economics principle. (C) 2016 University of Venice. Published by Elsevier Ltd. All rights reserved.
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Details
- Title
- Uncertainty by regulation: Rottenberg's invariance principle
- Creators
- Rodney Fort - University of Michigan United StatesJoel Maxcy - Drexel UniversityMark Diehl - Coastal Carolina University
- Publication Details
- Research in economics, v 70(3), pp 454-467
- Publisher
- Elsevier
- Number of pages
- 14
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Sport Management (Center for Sport Management)
- Web of Science ID
- WOS:000409178500008
- Scopus ID
- 2-s2.0-84978880669
- Other Identifier
- 991019168866504721
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- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Economics