The labour market is both a market and a "social institution". But what do we mean by that? In the first part of this article we analyse different interpretations of the labour market's "social" dimension, starting with the versions postulated by economists and ending with those that invoke...

Using the team performance-club profit framework, a formal model is developed of the determination of the transfer fees paid by football clubs when players are traded for cash. It is argued that transfer fees can involve monopoly rents; the selling club extracts a share of the nonnegative...