Comparing the Revenue and Profit Effects of Winning and Having a Star Player for a Major League Baseball Team
Date
2006
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Haverford College. Department of Economics
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Thesis
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Award
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eng
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Open Access
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Abstract
This thesis studies the revenue and profit effects of winning and having a star player for Major League Baseball (MLB) teams over the period of 2000-2004. Regression analysis is used to determine the revenue and expenditure effects of having a star player and winning; the two are then compared to gauge profits. The analysis also attempts to find the value of stars and winning for teams from different sized cities, as well as the marginal revenue product of star players as the number of stars on a team increases. The findings are used to determine the best financial strategies for MLB teams.