Title
An Inquiry into the Pay Structure of the New York Yankees: 1919-1941
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.
Department(s)
Economics
Document Type
Article
DOI
https://doi.org/10.1057/eej.2011.23
Publication Date
2011
Recommended Citation
Brown, Kenneth H., Paul E. Gabriel, and David G. Surdam. "An Inquiry into the Pay Structure of the New York Yankees: 1919–1941." Eastern Economic Journal 38, no. 4 (2012): 449-459.
Journal Title
Eastern Economic Journal
