This is a short summary of the paper
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The Combines Act
Start of Term Paper
J.C.H. Jones's article "The Economics of the National Hockey League" (1969)
purpose is to explain through simple micro economics that the prime motive of
professional hockey team owners is profit maximization. The owners argue that
their main i .... Middle of Term Paper
... profit objectives that
influence group behavior. (3) The utility maximization model that allow for many
possibilities usually compromising arguments such as the success of the team at
a given year and paid attendance for the team's venue.
By explaining the frame work of a professional sports league Jones introduces us
to factors that make an organized league function, which seems quite familiar to
any other monopolistic markets. Since no team can create any revenue by
themselves they must form a coalition with another club to produce a profit
generating output, namely a hockey game. Other clubs enter this coalition thus
creating a formal l ... |
| Number of Words: 739 |
Approximate Pages: 3 |
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