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Monopoly and Monopsony Power in a Market for Mud
Monopoly and Monopsony Power in a Market for Mud This article describes an unusual market I use in my intermediate microeconomics courses to illustrate characteristics of monopoly and monopsony power. For over sixty years the Lena Blackburne Rubbing Mud (LBRM) company has been the sole supplier of mud taken from a Delaware River tributary that is applied to all baseballs used by Major League Baseball (MLB) teams. The unique quality of the mud removes the shine and slickness of new baseballs. Students must explain why LBRM is or is not a monopoly and recognize the source of MLB’s monopsony power. Edward Scahill† †University of Scranton © 2020 Journal of Economics Teaching. All rights reserved. Scahill / Journal of Economics Teaching (2020) 1. Introduction A monopoly is an enterprise that is the only seller of a good or service… Before and during the period of the classical economics (roughly 1776–1850), most people believed that… [the] only monopolies that could persist… were those that got the government to exclude rivals… Even today, most important enduring monopolies or near monopolies in the United States rest on government policies…Monopolies that exist independent of government support are likely to be due to smallness of markets (the only druggist in town) or to rest on temporary leadership in innovation…(Stigler) Although most students in my intermediate economics courses understand the graphical analysis of monopoly and the impact of monopoly power on economic welfare, it is a challenge to find actual examples of monopoly power that engage their interest.1 Although dominant firms in many markets have some degree of monopoly power, the number of “pure” monopolies – sole providers of a good or service that have no close substitutes - are rare. -
St. Louis Cardinals (81-73) Vs. Chicago Cubs (98-56) Information © 2016 Chicago Cubs Media Relations Office September 25, 2016 … Wrigley Field … Game No
www.CubsPressbox.com * [email protected] * 773-404-4191 * @Cubs * 1060 W. Addison St., Chicago, IL 60613 St. Louis Cardinals (81-73) vs. Chicago Cubs (98-56) Information © 2016 Chicago Cubs Media Relations Office September 25, 2016 … Wrigley Field … Game No. 155 … Home Game No. 81 RHP Carlos Martinez (15-8, 3.16) vs. LHP Jon Lester (18-4, 2.36) GONE TOO SOON: The Cubs join the rest of Major League Baseball in mourning the CUBS VS. CARDINALS loss of Marlins pitcher José Fernández … we send our deepest condolences to his CUBS RECORD family and friends, and to the entire Miami Marlins organization. The Cubs and Cardinals play 19 games, 2016 Overall: ......................................... 98-56 spanning six series, this season … this is the CUBS PLAY REGULAR SEASON HOME FINALE: The Chicago Cubs, 2016 N.L. Central At Wrigley Field: .................................. 56-24 final regular season meeting between the Division champions, tonight close out their regular season Wrigley Field schedule On the Road: ........................................ 42-32 two clubs … Chicago aims to win a regular with the rubber match of a three-game set against the St. Louis Cardinals. April: ................................................... 17-5 season series against St. Louis for the first © The Cubs have won a franchise-record tying 56 games at Wrigley Field, done May:.................................................. 18-10 time since the 2010 campaign (9-6). just two other times since the team moved here in 1916 … Chicago also won 56 June .................................................. 16-12 games at the Friendly Confines in both 1933 and 1935. 2016 Overall: ......................................... 9-9 July .................................................... 12-14 © The last time Chicago won more than 56 games at its home park was in 1910, At Wrigley Field: ........................... -
D Mercer County Historical Society Newsletter
Mercer County Historical Society Newsletter “Preserving Mercer County History” Volume 21, Issue 4 Editor: Mary Jane Sticklen Oct/Nov/Dec 2017 Publisher Kellogg’s Printing When the Chicago Cubs Came to Aledo by Stephanie Braucht Mercer County Historical Society October 4, 1923, was a landmark day for Aledo and the & surrounding area, as the Chicago Cubs baseball team came to town Essley-Noble Museum to play an exhibition game against a local American Legion team. 1406 - SE 2nd Avenue The Cubs had makeup games scheduled to play in St. Louis, which Aledo, IL 61231 were postponed. Not wanting to go without playing, the Cubs Phone: 309/582-2280 entertained the idea of filling in with some exhibition games. So it Hours was arranged for them to come to Aledo to play against the Aledo April – Oct: Thurs, Fri, Sat, 1-5:00pm American Legion team. The Aledo Democrat (September 25, 1923) Nov - March: Saturdays 12:00-4:00pm declared that the Aledo American Legion nine comprised "one of the fastest semi-pro teams in this section of the country." L.M. Officers & Board of Directors Parkman was head of the local organization that sponsored the game. Ronn Dillavou, President Beverly Gray, Vice President, The Cubs traveled by train from St. Louis to Burlington, IA on the Mary Jane Sticklen Secretary evening of October 3 in two special Pullman cars. The contingent Hugh Brown, Treasure consisted of about 25 people -- ball players, their manager, a coach, Bill Bertrand and several Chicago newspaper sportswriters. In Burlington, the Stephanie Braucht Dave Duncan two Pullman cars were attached to the Dolly on the CB&Q line and Dave Frieden brought to Aledo on the morning of October 4 on the Dolly's Donna Gresch regular run, arriving in Aledo at 7:30 a.m. -
Muehlebach Field Dedication July 3, 1923
[page 1] Muehlebach Field Dedication July 3, 1923 Compliments KANSAS CITY BASEBALL CLUB AMERICAN ASSOCIATION [page 2] Proclamation HEY, red-blooded Americans, Fans, EVERYBODY! A new park, Muehlebach Field, dedicated to the great American sport, Baseball, will open Tuesday, July third, Brooklyn Avenue at 22nd. This event will be of interest to all who enjoy clean, healthful, outdoor recreation. The day has gone by when business men look upon a holiday as a lost opportunity. It is now considered an INVESTMENT, as employer and employe alike return, not only with renewed ambition, but with new thoughts and new ideas for which Old Man Success is always on the lookout. For this reason, I recommend that every employer forget the ever present serious side of life and attend the opening baseball game at Muehlebach Field. I also recommend that every employer as far as possible give the same privilege to his employes. To set the example for this recommendation, and to demonstrate its practicality, I declare Tuesday afternoon, July third, a half holiday for all City Hall Employes, beginning at Twelve o’clock (noon). (Signed) FRANK H. CROMWELL, Mayor. -2- [page 3] Program DEDICATORY ADDRESS THOS. J. HICKEY PRESIDENT AMERICAN ASSOCIATION RESPONSE GEO. E. MUEHLEBACH PRESIDENT KANSAS CITY BASEBALL CLUB “KANSAS” GOVERNOR JONATHAN M. DAVIS “MISSOURI” GOVERNOR ARTHUR M. HYDE “KANSAS CITY, MO.” MAYOR FRANK H. CROMWELL Who Will Pitch (Throw) the First Ball “KANSAS CITY, KANSAS" MAYOR W. W. GORDON Who Will Catch? the First Ball FLAG CEREMONY The Stars and Stripes will be raised for the first time over Muehlebach Field BALL GAME 3 P. -
Diamond Fans Momentarily Forget War Worries As 190,775 Thrill To
Sports News Features and Classified WASHINGTON. 1). <\, WEDNESDAY, APRIL 15, 1042. C-l % Diamond Fans Momentarily Forget War Worries as 190,775 Thrill to Openers CHAMPION—AND STILL WINNING! —Bv JIM BERRYMAN Yank Scout Sees Yankees, Bcsox, 1 *P nDNTC ACE or Draw : S Lose \ewec; Poc TUF /P/V£ s Win, THAT VERSIONS WHO ] i'^^EC-.'>',oor' SUCKy DIDN'T Sf*>£.rf By FRANCIS E STAN. ) (VET TIN' 04 To / WMV PlTc MEPS TELL ME I WAS FlF LPEP EVERY MV STuE? HE rr>MT lev Tip J UONMA HAVE LFFT FIELD PALL' Second Feller Tribe, Browns JUST TIPPED IT •> FUN' I } A HOCK OF a os if Had ^MlT.. After Year, Nothing Happened ANOTHER.. ASSISTANTS! Maybe the baseball players, after tramping the woods all fall K __—V- • nd winter with their dogs at their sides and shotguns under their In De Rose never around to that these are unusual Show Class arms, got fully realizing times and anything is likely to happen. For months the club owners and major league presidents have been delivering spiels to Dodgers Down Giants 19-Year-Old Hefty the effect that, due to the draft and one thing or another, the 16 In IT WAS RED Owns All It Takes in big-time teams more or less were on equal footing and that exciting Dizzy Struggle; CUFFING PAY races with twists were not to be unexpected. spectacular Williams AT GRIFFITH Raw, Experts Agree take into account Winging The theorist*, apparently, did not everything STADIUM...OH HERE WE GO X-'H, I IT ! it was like the of a year ago! What \ f GOT By Rl’SS NEWLAND. -
Lena Blackburne's Baseball Rubbing Mud
Lena Blackburne's Baseball Rubbing Mud Lena Blackburne's Baseball Rubbing Mud: balm to ball players everywhere. Back in 1938, a Philadelphia Athletics coach named Lena Blackburne began mixing various batches of mud and water to create a substance that would dull the surface of glossy new baseballs, making them easier to grip. And, of course, it had to work without breaking the rules of baseball. Umpires had previously tried shoe polish, tobacco juice and the dirt beneath their feet to fix the balls, but while these substances did, indeed, dull the balls' surfaces, they also damaged the baseballs in the process. Blackburne's eventual concoction -- crafted from rich mud found in southern New Jersey near the Delaware River (at his favorite fishing hole, to be exact) -- didn't wreck the balls. The Athletics' chief umpire gave it a thumbs-up, and soon other American League teams began clamoring for some. National League teams followed suit, and soon Lena Blackburne's Rubbing Mud was famous Since Blackburne had no kids to inherit his business, he passed it on to a childhood friend, whose grandson, Jim Bintliff, now runs the company. Bintliff says every Major League Baseball team uses the product today, and he makes five or six trips to the mud hole annually to fulfill demand. But he won't say exactly where the revered mud hole is. "The mud is on public land, but we've always kept the location a secret to keep people from trampling it" Joy in Mudville MLB teams can't get enough of Lena Blackburne's secret substance. -
Standings Compiled by Secretary the Third Out
1 ■— — « —— ■ ■■ ■ —— been torn out, and a new aidawalk 3 WALKS PLUS 3 is being put in. < Cardinals Headed Toward * * * Both these store spares are also Pennant; Pitching TUNNEY NEARS being remodeled, and the Broad- EDINBURG ON Men's way Shop, owned by Ben HITS ONE was And Best In Avers Vessels EQUAL Epstein, and which damaged by Batting League * *. * fire several weeks ago, is to be re- opened soon. Lf FLAYING TOP IN UPPER RUN —PROF. HUG TRAINING END _ 17.—(A*—The Edcouch Go NEW YORK. July McAllen, Cleveland Indians have demon- Champ to Box and Eat Up As Donna and strated how a team can make three safe hits and receive three bases Great Quantities I _ Pharr Lose on balls in one inning and still Of Meat Out of score only one run. \ankees Snap this bracket— The Indians performed Upper feat for the benefit of SPECULATOR. N. Y. July 17.— Slump Taking Two; Team W. L. Prt. strange metropolian fans watching them a rest from all Edinburg 9 3 .750 (/Fb—After 24-hour lose both ends if a double-header Cards Emerge After McAllen 7 5 .583 ring work. Gene Tunney decided to to the New York Yankees yester- Donna 7 6 .538 renew exchanging blows with his Losing Pair Edcouch 5 7 .417 day. sparring partners today to fit him- In the third of the first Pharr 2 11 .153 inning self for his world's heavyweight title Lind to right and BY HERBERT W. BARKER Lower bracket— game, singled bout against Tom Hceney on July 26. -
Year in Sports 2015-16
Year in Sports 2015-16 Dylan Furrier Stachia Reuwsaat and Damarcus Simpson at Penn Relays Rudy Leasau Shelby Winchell Taylor Summers Shelby Bozner Stephanie Knowles Warren Gordon Tayler Hall Nicky Banzhaf Prepared to serve as a record of the accomplishments by the athletes and coaches 38th Annual at Chadron State College during the past academic year. Chadron State College’s Compiled by KALEB CENTER CON MARSHALL Year in Sports and 2015-16 TARA MEDIGOVICH Football Eagles Record Unsatisfactory, but hopes are high for future .................................................................................................................... 2 Statistics .................................................................................................................................................................................................... 4 Football Awards and Honors ..................................................................................................................................................................... 7 Volleyball Volleyball has best season in eight years................................................................................................................................................... 8 Combined Statistics ................................................................................................................................................................................... 9 Cross Country Cross Country ......................................................................................................................................................................................... -
Spring 2005 Auction Prices Realized
Spring 2005 Auction Prices Realized (May 25, 2005) includes 15% buyer’s premium Babe Ruth 1921-31 Louisville Slugger Hillerich & Bradsby Game Used Bat 1 SCDA 6.5 $43,674.70 2 1933 World Wide Gum #93 Babe Ruth PSA 8 NM/MT $15,878.05 3 1933 Sport Kings #2 Babe Ruth GAI 8.5 NM/MT+ $29,768.90 4 1916 Boston Store (H801-8) Babe Ruth PSA 4 VG/EX $14,530.25 5 Babe Ruth Signed Baseball $8,511.15 6 Babe Ruth Autographed Check Display Piece $6,392.85 7 1948 Leaf #3 Babe Ruth PSA 8 NM/MT $5,177.30 8 1933 Sport Kings #4 Red Grange PSA 8 NM/MT $3,968.65 9 1933 Sport Kings #5 Ed Wachter PSA 8 NM/MT $1,443.25 10 1933 Sport Kings #9 E.J. Blood PSA 8 NM/MT $595.70 11 1933 Sport Kings #10 Anton Lekang PSA 8 NM/MT $655.50 12 1933 Sport Kings #13 Laverne Fator PSA 8 NM/MT $595.70 13 1933 Sport Kings #14 Jim Londos PSA 8 NM/MT $655.50 14 1933 Sport Kings #16 Bill Tilden PSA 8 NM/MT $1,587.00 15 1933 Sport Kings #18 Gene Tunney PSA 8 NM/MT $1,480.05 16 1933 Sport Kings #19 Eddie Shore PSA 8 NM/MT $2,035.50 17 1933 Sport Kings #24 Howie Morenz PSA 7 NM $1,454.75 18 1933 Sport Kings #26 James Wedell PSA 8 NM/MT $960.25 19 1933 Sport Kings #27 Roscoe Turner PSA 8 NM/MT $2,838.20 20 1933 Sport Kings #28 James Doolittle PSA 8 NM/MT $2,580.60 21 1933 Sport Kings #32 Joe Lopchick PSA 7 NM $1,699.70 22 1933 Sport Kings #35 Knute Rockne PSA 8 NM/MT $3,607.55 23 1933 Sport Kings #36 Willie Hoppe PSA 8 NM/MT $1,312.15 24 1933 Sport Kings #37 Helene Madison PSA 8 NM/MT $1,055.70 25 1933 Sport Kings #38 Bobby Jones PSA 7 NM $3,430.45 26 1933 Sport Kings #39 Jack Westrope PSA 8 NM/MT $1,545.60 27 1933 Sport Kings #40 Ed Don George PSA 8 NM/MT $960.25 28 1933 Sport Kings #41 Jim Browning PSA 8 NM/MT $872.85 29 1933 Sport Kings #43 Primo Carnera PSA 8 NM/MT $1,443.25 30 1933 Sport Kings #47 J. -
Musical Extravaganza Opens Tomorrow Finite
©Ijp “XV ut Hampshire VOL. 31. Issue 41. Z 413 UNIVERSITY OF NEW HAMPSHIRE, DURHAM, NEW HAMPSHIRE, APRIL 1, 1941. PRICE, THREE CENTS Musical Extravaganza Opens Tomorrow Nite “ Ladies in Hades” Phi Sigma Host to The New Hampshire Has ‘Battle of the Centuries’ April Fool’s Issue Scintlliates With Second Biological Maybe Spring missed her cue, Star-Studded Cast Conclave April 19 but All Fool’s Day is right on time. This issue of The New Craig and Vaughan Have Demonstrations, Movies, Hampshire is exceedingly con servative compared with some is Leads in Student written, Original Papers Form sues that have celebrated this day Directed, Acted Bevue Part of All-Day Program of days. The number of exams most of After but a few weeks of intensive On April 19 the New Hampshire us are being struck with this week rehearsals, frantic re - writing and chapter of Phi Sigma, national hon are enough to drive the entire changing of lines, and arduous coach orary biological society, will be host student body- mentally topsy-tur ing, the curtain rises tomorrow eve to representatives from several New vy, on top of which comes this ning at 8:00 o’clock in New Hamp England colleges who will come to wild, terrific musical comedy — shire Hall on “ Ladies in Hades,” Durham to participate in the Second making this a special kind of which has been termed the biggest Annual Eastern New England Bio Hell Week. musical extravaganza north of Bos logical Conference. Following regis The psychology conference ton. tration in the main lobby at Nesmith would do well to convene early An entirely student written, direct Hall, the delegates will be welcomed and study the studentry this ed, and acted production, this year’s by President Fred Engelhardt in week; but we fear the strain Grlnite Varieties show promises to Murkland auditorium. -
Greenberg and Interleague Play Tigers in Danger from Train Fire
Official Publication of Retrosheet, Inc. Volume 5, Number 4 December 1, 1998 Greenberg and Interleague Play As we come to the close of another year, it is conventional to summarize the big events of the last 12 months. We have done a lot this The last issue of TRS carried an article concerning interleague play year, for example, as discussed in the late 1950s. Hank Greenberg was the originator passing the 50,000 of the idea and our crack staff has tracked down the information. In View from mark in total May 1954, Greenberg, then GM of the Indians, offered a plan for games entered, games that count in the standings to be played between all NL and the Vault AL clubs. gathering David Smith, thousands more President Greenberg’s plan included four games between each AL and NL game accounts club, with two at home and two away. The intraleague contests from many sources would be cut from eleven to nine (home and away) to and increasing our visibility with the general accommodate these new games. However, that arrangement public as well as many Major League teams. would have to be modified each year since the eight game inter- league sets would add 32 games while the intraleague reductions However, this is also a good opportunity to would only account for 28 games. Greenberg said that the details think of ways to improve the organization in could be worked out later but the idea was to have a home and the coming year. To me there is one area away engagement with each club. -
PDF of Feb 14 Results
Huggins and Scott's February 13, 2014 Auction Prices Realized SALE LOT# TITLE BIDS PRICE* 1 Lou Gehrig Single-Signed 1934-1939 OAL Harridge Baseball - Full JSA 13 $ 27,255.00 2 1895 N300 Mayo's Cut Plug Wilbert Robinson SGC 60--None Better 19 $ 2,488.50 3 Circa 1900s Baltimore Baseball Club Champions 1894-'95-'96 Postcard--SGC 20 10 $ 888.75 4 1911 E94 George Close Candy Eddie Grant with Your Out! Oppie Dildocks Overprint--SGC 20 11 $ 1,422.00 5 1910 E98 Cy Young (Irv Young) with Red Background from Black Swamp Find--PSA 8 1 $ 4,740.00 6 1902-11 W600 Sporting Life Cabinets Rube Waddell SGC 10 15 $ 1,540.50 7 1933 Sport Kings Gum #2 Babe Ruth SGC 50 17 $ 2,014.50 8 1887 H804-8 Sporting Life Trade Card with Baltimore Schedule--SGC 30 19 $ 1,185.00 9 (2) 1909-11 T206 White Border Ty Cobb Poses--Both SGC 10 13 $ 1,007.25 10 (3) 1909-11 T206 White Border Minor League Hall of Famers: Collins, Kelley & McGinnity--All SGC 35-60 7 $ 444.38 11 (5) 1909-11 T206 White Border Southern Leaguers--All SGC 30-55 5 $ 414.75 12 (5) 1909-11 T206 White Borders PSA 2-4 Graded Stars with Chance & Joss 14 $ 592.50 13 (3) 1912 T202 Hassan Triple Folders with (3) Hall of Famers Including Johnson--All SGC Graded 9 $ 592.50 14 (4) 1911 T201 Mecca Double Folders with (6) Hall of Famers Including Cobb & Johnson --All SGC 30-45 6 $ 651.75 15 1914 T213-2 Coupon Cigarettes Walter Johnson (PSA 1) & Tris Speaker (PSA 2) 8 $ 592.50 16 1887 N172 Old Judge Dan Brouthers (Bat/Ready Over Shoulder) PSA 2 16 $ 1,066.50 17 1909 E102 Set of 25 Ty Cobb PSA Authentic 5 $ 444.38 18