This book examines personnel economics within the context of the professional sport industry. Sport is an effective industry in which to empirically test theories of personnel economics, primarily because the employer-employee relationship in sport is much more visible and transparent than in almost any other industry. Researchers benefit from having data on a host of variables pertaining to individual employees (players), such as their age, race, national origin, and experience. Researchers also have data on each employee's performance, on their salary, and on who their co-workers...