This paper proposes novel approaches to measuring team productivity and evaluating trading efficiency in Major League Baseball (MLB) from 1994-2016. Player performance is measured using a structural approach relating player outcomes to team runs. Using a portfolio theory framework, we treat MLB...

"Starting with a major survey of the economics of sport, this volume involves primarily a comparison of the European and American models of sport, how to restructure leagues to make them more competitive, the analysis of gate-sharing mechanisms, the economic impact of promotion and relegation...