Economics 2182A/B Lecture Notes - Lecture 16: Slugging Percentage, Sacrifice Fly, Monopsony
19 Nov 2018
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Lecture 16: chapter 6 the economic value of playing talent. Assignment 2: there isn"t a required number of regressions you should run, but it will help you decide which variables to focus on, due in class on the last day of class (submit a hard copy) Review: in a perfect competition, mrp should be the wage or salary of the player. But because of the contract, we see a monopsony instead of a perfect competition. A lot of players are paid less than the mrp, and some are paid more. Example: baseball: compared to other sports, there is a lot less interaction between players. For example, in soccer (a complex invasion sport"), a goal isn"t just the product of one player. In baseball, whether the hitter hits the ball depends on that player"s skill. 66. 1% of the deviation in team runs per game.
