Abstract
Presents a model of a professional sports league that can display unsustainable runs—rapid improvements in a club's performance on the field, ice, or court that require implausibly large shifts in exogenous variables or parameters to fit traditional notions of profit-maximizing behavior—resulting from the presence of multiple equilibria. Discusses introducing unsustainable runs; casual evidence of unsustainable runs; a model of a professional sports league; a professional sports league model with unsustainable runs; unsustainable runs with revenue sharing the salary caps; and some empirical testing. Rockerbie is with the Department of Economics at the University of Lethbridge. Easton is with the Department of Economics at Simon Fraser University.
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