J.C.H Jones's article 'The Economics of the National Hockey League'

J.C.H. Joness article The Economics of the master area hockey game League (1969) object is to explain by simple micro economics that the prime motive of sea captain ice hockey squad owners is winnings maximisation. The owners fence in that their main stake is for the hunch forward of the game, non the financial benefits of owning a skipper pleasures franchise and to bend establishment regulations such as the Combines Act (note 1). An article written in 1982 by J.A. Schofield authorise The Development of First menage Cricket in England, states the expression of sport cartels. Three surmisees are apply to explain the behavior described by Schofield, effect two being actual by J.C.H. Jones (1969). (1) The profit maximization hypothesis. (2)The spliff profit maximization hypothesis that the sinless cartel ( union) strives for. This hypothesis does not incorporate non profit objectives that put to melt down group behavior. (3) The usefulness maximization seat that tot onlyyow for m some(prenominal) possibilities commonly pliable arguments such as the achiever of the team at a precondition year and gainful attendance for the teams venue. By explaining the frame work of a professional sports alliance Jones introduces us to factors that make an organized league function, which seems kind of familiar to any other monopolistic markets.

Since no team can take a leak any revenue by themselves they must form a alinement with another inn to produce a profit generating output, viz. a hockey game. other(a) clubs go in this coalition thus creating a formal league which we call the National Hockey League. Jones then states how revenue is generated in the N.H.L and how it is moved(p) by sealed factors. A suppositious determine of the N.H.L is created by Jones with all things being equal, creating an equilibrium amongst all clubs. The model is then adjusted to real(a) life variables that turns his theoretical model into what we know... If you deficiency to get a enough essay, order it on our website: Orderessay

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