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Faculty Publications
An Inquiry Into The Pay Structure Of The New York Yankees: 1919-1941
Document Type
Article
Keywords
earnings, human capital, monopsony, New York Yankees
Journal/Book/Conference Title
Eastern Economic Journal
Volume
38
Issue
4
First Page
449
Last Page
459
Abstract
This paper explores salaries for New York Yankees players during the early 20th century. Thanks to the recent availability of a unique data set, we are able to construct detailed earnings profiles using individual player salaries. Human capital wage estimates suggest that the Yankees owners rewarded players on the basis of their contributions to team productivity. Although apparently exploiting their monopsony power, the Yankees management set salaries on a systematic, productivity-related, basis. Because of the panel nature of the data, we use fixed-effects regression instead of Ordinary Least Squares regression estimation. © 2012 EEA 0094-5056/12.
Department
Department of Economics
Original Publication Date
9-1-2012
DOI of published version
10.1057/eej.2011.23
Recommended Citation
Brown, Kenneth H.; Gabriel, Paul E.; and Surdam, David G., "An Inquiry Into The Pay Structure Of The New York Yankees: 1919-1941" (2012). Faculty Publications. 1754.
https://scholarworks.uni.edu/facpub/1754