The Control of Externalities in Sports Leagues: An Analysis of Restrictions in the National Hockey League
Dennis W. Carlton
Alan S. Frankel
Elisabeth M. Landes
Journal of Political Economy,
This paper provides one of the few successful demonstrations of the efficiency of certain types of restrictions in the context of a joint venture. The joint venture we examine is the National Hockey League (NHL) in the 1980s, which was then composed of 21 separately own...