glucotrol birth control online india birth control pills side effects anxiety order duetact online no presctiption reviews on acai daily cleanse buy pyridium online with out prescription retail pharmacy jobs ireland pyridium online from usa percocet sold over counter cabgolin daily use reviews clomiphene citrate in men steroids zertalin india pharmacy albenza cost in canada meclizine generic mexico zyprexa mist canada worldwide pharmacy famvir dyazide buy online india order tamoxifen on line usa buy atorlip 10 in singapore is there a generic for levoxyl revia cost comparison cheap sinequan india purity products hyaluronic acid reviews unisom drug canadian pharmacy us pharmacies online that sell meclizine nexium otc dosage cafergot comprar acheter viagra en ligne paypal plavix drug canadian pharmacy entocort enema dosage online pet medications without prescriptions dutas buy no prescription atacand hct 32 25 buy dostinex online from australia malegra fxt shelf life plavix side effects muscle pain sale erythromycin glucotrol xl by mail buspar usa no prescription motilium reviews citalopram discount medications where can i buy cardura tablets buy glucotrol xl next day where do i tamoxifen in mexico cozaar online purchase generic voveran order albenza online canada can order lasuna online buy accutane mastercard adalatoros get frumil toronto buy online atomoxetin generic can you only get lincocin on prescription cytotec misoprostol precio chile where can i buy baclofen thyrox delivered to your home ciplox buy no prescription lisinopril from benazepril what are the side effects of allegra pyridium dosage forms alesse medication oral contraceptive levonorgestrel and ethinyl estradiol order vasodilan cheap dove posso comprare acai berry thin order maxalt in generic finax cost best place to buy pariet proscar generic name of vermox pharmacies zoot z pack training bag 2009 mentax over the couter ampicillin fast uk ordering janumet uk glipizide and metformin combination cozaar medicines depo provera cost canada ontario can you buy sildalis periactin drugstore fertomid sale vasodilan tablets from buy curacne next day aviane 28 uk pharmacy vytorin 10 40 mg side effects where can i get delta cortef from buy thyroxine online from australia avalide bonus pills what does glycomet tablet do is it safe to order valaciclovir buy promethazine online amazon best place to buy diflucan without a prescription retin a gel 0,1 fast mexico can you only get tamoxifen on prescription hydrochlorothiazide from canada digoxin without a prescription buy plendil cheap cheap retino a cream 0 05 india cystone mexican pharmacies p57 hoodia order wellbutrin dose for adhd canadian pharmacy online compazine mexican pharmacy no prescription isotretin lasix 40 mg buy cafergot cheap uk seroflo without prescription pills online dug store my styplon coupons ivenox online canada where is eden resort bora bora ethionamide where can i buy it i want to buy zantac levitra super active buy mexico canadian atorlip generic revatio uk paypal online avodart purchase where can you buy claritin d rocaltrol order in the us almetec mg no prescription generic name for sinemet buy ambien online no prescription buy roaccutane online canada colospa cheap canada pharmacy where do i allegra in canada cozaar over the couter azithromycin dihydrate chlamydia buy protonix bulk precio de pastillas alli para adelgazar ibuprofen alcohol liver cheap keflex zetia medication order hytrin now co uk haldol pills online in the uk prescription drugstore pharmacy health eu brand cialis drug in canada pharmacy viagra jelly spain over counter 24 hour pharmacy near menlo park metallica s and m what is the medication plavix used for ciprofloksacin pills online in the india purchase glucotrol xl online no prescription can i buy zestril minocycline rx696 altace discount voucher metronidazole 400 mg pill norvasc dosage 2.5mg creighton online pharmacy school how much does mifepristone and misoprostol cost bentyl looking for zyrtec dose for children best place to buy trial erection packs 1 online motrin no prescription fedex ups prinivil lawsuit cialis ed pack paypal brand amoxil mg mexico how do you order medicine from canada purchase carvedilolo lowest price innopran xl weight gain isoniazid to purchase without a prescription what does generic risperdal look like yagara tablets purchase on line buy elimite cream in stores better than oxytrol flomax drug prices dutas pricing acquistare sumycin in italia betapace sale what is cephalexin mg used to treat colospa without insurance is mail order betapace safe best place buy evista pct tadapox side effects what are the best pills to get high on erection pills gas station zoloft 40 mg pharmacy what is singulair for kids baclofen from india best price for real amantadine where to buy dramamine for kids cheap januvia 50 mg skelaxin cost comparison prescription kytril in the uk gout medication allopurinol and colchicine acute best otc diet pills for women 2012 phone in order for acai buy proscar next day viagra super active no script best place to buy zedd in uk where to purchase elocom buy flonase online no prescription usa arthritis cure arava drug in fr pharmacy nexium for dogs buy relafen generic usa beta val buy online mexico rythmol sr uk next day delivery cialis 20mg kaufen toradol reviews for men serve medicamento cloridrato sertralina suhagra comprar pariet 20 mg uses maxaman online australia what is carafate for dogs nexium 40 mg from canada desyrel pills buy online brand amoxil uk pharmacy where to get clomid cheap buy trazodone online without prescription metrogel prices estrofem online canada onde comprar levitra no brasil pill rx health micardis products order generic astelin duphalac syrup for babies analysis of aspirin tablets flagyl medicine children buy pulmicort in ireland what is prescription strength prilosec navarro discount pharmacy mebendazole cost price midamor discount voucher buy arjuna online us no prescription how to buy acctane without precription atacand tablets a comprehensive view can order lozol canada rumalaya pharmacy order valacyclovir side effects bystolic prices canadian pharmacy danazol asian pharmacy online ponstel medicine for children paroxetine medication side effects generic pills for actoplus zanaflex vs soma forum flonase without a prescription from india can you buy evista online cheap tadalafil 40 mg value pharmaceuticals coupon duricef cefadroxil side effects levoxyl tablets uses how to use celebrex phone in order for clavamox ordering tinidazolum usa maxifort zimax dosage acticin no script canada pharmacies online that sell lotrisone proscar birth control online uk ciplox birth control online us disulfiramo generico italiano kamagra reviews and dosage can you only get zestoretic on prescription buy trileptal boots flovent hfa drug class how to purchase vagifem precose in croatia can you buy medication online cheap hydrea pills what is confido himalaya where can i get trial erection packs 2 pills styplon canadian pharmacy zoloft online legally styplon online ordering differences between viagra and cialis thalidomide enantiomers effect how to take accutane safely all types trimox pills where to purchase acai hp citalopram withdrawal headache lexapro without presription generic avapro in irbesartan drug information order toradol without rx tetracycline medication where to buy paxil generic name buy apo furosemida without a subscription buy extendaquin with a mastercard snovitra super power fast uk paxil cr generic ondansetrona fda approved to buy without prescription purchasing seroquel online prescription zoloft price pyridium generic india indian pharmacy suhagra can humans take cephalexin 500mg for dogs best place to buy acai berry supplements the chepest acai liquid levitra super active review kwikmed discount coupon zithromax fast canada generic dramamine tablets buy diovan cheapest over the counter drugs similar to naprosyn order non generic noroxin dutasterid mail order nizoral shortage september viagra on ebay uk to buy clincin can you buy adderall online in uk bentyl to buy buy chloromycetin visa actonel pills online in the australia buy levitra pills free coupon for coumadin buy tretinoin 0,05 online with out prescription best price for real prednisolona female viagra uk brand name zyvox without used should can you buy accutane over the counter haldol results forum online pharmacy tinidazolum triamterenum online from canada ceftin without a perscription cheap metoclopramide usa order carvedilolo from canada without prescription can you buy bystolic acquisto effexor xr sicuro online levoxyl no prescription parlodel without a prescription from india voltaren 50 ec betnovate birth control online australia malegra dxt dose best place to order anafranil in us viagra over the counter 2012 color flagyl pills ditropan generic australia where to buy norvasc online uk prinivil online pay paypal obagi tretinoin .1 vs .05 disulfiramo mexico companies only can you get yagara over the counter vagifem overnight pharmacy buy l tryptophan mexican pharmacies is olistat available on line in canada dutas cheap canada pharmacy best place to buy geriforte in india can paxil tablets be split cheap serpina uk trusted tablets pharmacy can you buy zovirax over the counter in the uk low dose aspirin over counter plendil thailand what does acivir pills cardura pills www.genericcialisusa.com side effects of cialis for women prilosec and blood pressure medicine purchase bupropion on line in usa mircette generic side effects best place to buy glucofage in usa ciprofloxacin and tinidazole dose how to order cardura online stediril to buy in the uk without a prescription hoodia usa no prescription best place to buy depakote list of tesco stores selling clavamox buy ciprofloxacin overnight phone in order for isoniazid what is cialis used for buy serpina online pharmacy ginette 35 no prescription needed canadian online pharmacy suppliers of orlistat tegretol spc renagel generic mexico metoclopramide pills online in the india buy riperdal online india no prescription can you get motilium generic pharmacy franchise metro manila can bupropion cause weight gain buy v gel bulk lexapro to buy cheap online deltasone buy no prescription discount code for cytoxan imiquimod uk pharmacy prazosin pills sweat what are antibiotics and how are they useful best price benfotiamine generic grifulvin v united states ventolin mail order india brafix prescription coupon can you buy flunitrazepam online buy generic amantadine with bonus buy levoxyl online australia no prescription zestoretic shopping what type of medication is nitroglycerin walmart viagra pharmacy prices what is the generic drug for hyzaar uk pharmacies online that sell levitra plus no script amlodipin mg best cabgolin prices what does fluticanose where to buy decadron with visa torsemide for sale usa most reliable place to buy colchicine online over the counter diflucan dosage prinivil drug in germany pharmacy safe to buy generic erection packs 1 from canada digoxin prescription only cipralex pills online in the india buy gabapentine without prescription buy valaciclovir pills in the us best online pharmacy generic metoclopramide motilium pharmacy kamagra canadian pharmacy order purim online with mastercard cordarone order in the us uk version of neurontin coast2coast discount rx card decadron injection dose getting chloramphenicol in australia nordette online from uk what is floxin tablets online sale of pariet silagra tablets uk kamagra oral jelly brand positioning can you drink while your on accutane use coversyl coupon online levothyroid buy online uk moduretic lowest price evista non perscription countries purchase generic thyroxin lotrel best online non prescription pharmacy order abilify from mexico without prescription antivert mg uk cabana filmes e series online fertomid 50 mg price cheapest myambutol tablets uk haldol druppels of tabletten worldwide pharmacy sinemet proscar price australia proventil birth control online mexico buy kytril for daily use buy alesse 100mg online brand cialis for sale online online pharmacy uk shallaki can you get claritin can you buy canadian adalat cc mail order generic precose buy hong kong cheapest generic zyloprim buy mesalamine no prescription buy lamisilate online from india buy antabuse have no prescription diprosone phone orders long time side effects lotrisone methylprednisolone better than prednisone half price celapram florida flucazole frumil prescription coupon buy generic estrace cream can you only get ivenox on prescription acai from china levlen canadian online overnight pharmacy safe to buy generic cilest from usa can you only get seroquel on prescription cheapest luvox paypal buy doksazosin lek tablets australia is effexor better than celexa comprar diprolene original where could i buy minipress without prescription purchase fincar cheap generic adalat with paypal payment canadian pharmacy scam hotmail lukol sold over counter geriforte cheap mexico pharmacy order isoptin on line canada fucidin next day shipping altace price india prevacid 40mg canadian pharmacy paroxetine buy paxil online how long does it take for risperdal to start working propecia reviews forum online drug buy diprosone online no prescription us canada order brand cialis viagra professional to buy in england can you buy albendazole online pharmacy order minocycline rx actoplus lowest price online all types minomycin pills order cyklokapron tablets is generic lotrisone effective cheap azulfidine india clomid sale online uk etabus drug in germany pharmacy buying prescription drugs on the internet where does aspirin come from and when was it discovered pcos and clomid 100mg success stories clomid comments better than ortho cyclen snovitra super power reviews genuine lexapro best price buy lantus insulin cartridges indinavir next day delivery diprolene pills online in the mexico very cheap entocort online generic zetia klipal codeine buy no prescription risperdal consta sales 2012 can i buy propecia in uk worldwide pharmacy chloroquine motilium generic 2013 drugs purchase suhagra on line in canada vantin over the couter reason for methotrexate shortage premarin tablets 0.3 purchase hytrin in us doxazosin how to buy sinemet over counter nizoral pills tinea versicolor simvastatin contraindications interactions elimite without a prescription effexor xr pills online in the india estrofem lawsuit best place to buy azurette in australia legal to buy cialis super active viagra over the counter london next day vardenafilum for men in usa what is the correct dosage of ginseng asthma symptoms and treatments buying suprax from canada no prescription purchase zetia in usa buy confido pills unisom without prescription canada cilest pills sweat para que se usa el combivent amantadine over the counter treat doctor discover egypt brochure sildenafil 100 buy cialis soft 100mg online pharmacy manager salary ireland rogaine 2 without a script cvs pharmacy technician job application online best place to buy allopurinol online buy valaciclovir online reviews is it illegal to order clomid online canadian rx cheap alesse aloprim online usa low dose amitriptyline sleep depressants actoplus met looking for hydrea perth australia metoclopramide without a perscription wellbutrin sr tablets from buy purchase pyridium 100 mg buy brand xeloda retin a ge non perscription countries ordering cialis professional india buy eurax patch flucazole pills online in the mexico revista avon online 2011 is wellbutrin generic effective caverta 30 day free trial tinidazolum to buy in the canada without a prescription uk buy ciprofloxacina without prescription indian aciphex drug rabeprazole sodium buy mentat online from canada buy metronidazole online overnight does generic propecia work the same buy zebeta astrailia online pharmacy viagra cialis astelin tablets from buy cipralex canada online no prescription what is the generic name for proventil herpes outbreak treatment valtrex navarro discount pharmacy pembroke pines requip 2 mg tablet himalaya clarina kit price ovral l uk next day delivery cheap roaccutan pills generic zebeta india is clopidogrelum legal in uk trandate buy mexico periactin express canada asacol how to buy benicar vs diovan dosage clavamox antibiotic buying pravachol for dogs original sepibest online cost of zyvox iv oral i want to pay some meloxicam enolat motrin spain seroquel xr 200 mg tablets fastest estradiol valerate uk delivery long term side effects of astelin what is bentyl used for treating pill rx health order flucazole products toy dakar trucks cost of plavix in australia trazodone supplier in uk medrol 100 review generic aleve for sale on line is nolvadex available on line in canada buy tadacip online from canada buy online motrin generic viagra sale implicane sertraline generic asacol available canada claravis before and after online forum order zyrtec overnight cheap flonase canada ordering clomid usa health canada salvent is rhinocort aqua safe during pregnancy does lysine work better than valtrex buying reglan from canada no prescription when to take protonix 40 mg cheap inderal 10 mg keppra mg canadian rx forzest tabletten vardenafilum pills online in the uk metronidazole online usa safe place order promethazine order amaryl without rx buy claravis no prescription buy flovent inhaler no prescription female viagra dosage recommended ordering cafergot cheapest altace in the uk torsemide online forum propranolol to buy in the uk without a prescription acquistare endep in italia fluoxetine 20 mg cap side effects serophene to buy in england cheapest tulasi tablets uk citrato de sildenafila 50mg ems cozaar prices usa buy chloramphenicol eye drops for dogs lisa eldridge french pharmacie flunil billig kaufen order micardis pills order salbumol on line usa zaditor discount medications ginseng drug classification rythmol sr not generic ciplox noprescrition needed usa online pharmacy cefixime without a prescription from uk where to buy indocin mg buy oxytrol online india acai express canada buy cheap cialis pills online lisinopril side effects cough zoloft in india prednisone prescription coupon retino a cream 0,05 online order buy diclofenac sodium tablets safe zyprexa no prescription jia yi jian ireland carbozyne max dose canada and risperdal atarax 100 mg injectable tadacip cheap uk pharmacy reglan without prescription pills microzide next day arimidex generic buy where could i buy advair diskus without prescription propranolol online pharmacy shipped to canada is it illegal to order generic female cialis paxil now hydrodiuril from canada without rx where to buy cardizem drugs online inderal canada head office non prescription lexapro pharmacy requip medication overnight delivery cytotec birth control online india buy endep have no prescription buy otomax pills in the india zenegra weight gain amoxicillin chest infection child depakote drugstore.com benicar for sale acivir pills buy india neurontin coupon code kamagra soft cost buy baytril uk lady era cheap where can i buy brand cialis online without a prescription uk version of pletal thyrohormone generic india generic tricor canada what is valtrex 1000 mg used for generic lopid in usa side effects of depo medrol dose pack generic lipitor pharmacies how much is finpecia tablets what does flonase nose spray do fincar on line in the canada where to buy metformin 500 mg protonix iv dosage and administration cheapest periactin to buy buy warafin online thru paypals side effects of anafranil drugs what is protonix dr used for order amitriptyline without elavil glucofage online with out prescription purchase allegra on line in india cyklokapron for dogs estradiol valerate order by phone buy iv zyvox cost azithromycin tablets side effects celebrex pharmacies in us pharmacy online naprosyn demadex drug in mexico pharmacy buy brand cialis in singapore donde comprar clonidine kamagra oral jelly pills online in the australia metoprolol tartrate half life provera canada paypal delta cortef women buy aygestin 5mg tablets vermox canada online no prescription salbutamol for men sale in uk isoniazid drug shortage cytoxan pill canadian benemid order in the us capoten india pharmacy risperdal cheap uk order prednisolone from usa without prescription online remeron india order lithium online no prescription with a visa cheap generic actonel can order digoxin online azithromycin 500mg alcohol common side effects of singulair what is tofranil pm used for which uk site to buy glucotrol xl elocom from usa pharmacy overseas pharmacy no prescription prevacid is premarin made from horse urine zanaflex fast mexico buy augmentin quick where to purchase lincocin buy skelaxin next day pill rx health order sildenafila products stromectol best price prednisone best online non prescription pharmacy biaxin cheap us pharmacy i want to pay some himcocid lisinopril teva pharmaceuticals usa atarax birth control online canada order amitriptyline online no prescription with a echeck raloxifeno shop net generic drug for pamelor zithromax 100 cheap pharma buy differin cream uk janumet in usa is mail order caprysin safe where can i get some brand levitra buy over the counter mirapex online what is best price for cialis online brafix prescriptions generic lantus no prescription where can i buy retin a 0 05 generic pills for motilium retino a cream 0 025 supplier in uk pamelor no prescription needed dogs rhinocort online legally order valaciclovir without prescription anafranil clomipramine for premature ejaculation mobic generic brand generic amoxiline usa fluss 40 buy australia where to buy cheap generic glucovance blood pressure medications bystolic differin gel for acne reviews zyprexa online canada viagra jelly overnight shipping cheap how to buy aciclovir online proventil medication where to buy lisinopril india sale buy us order depakote generic suhagra cost comparison canada and serpina what is diovan for actoplus met pharmacy order zofran in india metrogel pharmacy order buy levitra super active have no prescription buy fertomid greece roaccutane online pharmacies with out prescription does hair loss stop after accutane nolvadex tablets 40mg a good web page to buy azurette with no script promethazine buy online australia can buy finast online buy ciplox in ireland betnovate italiano buy cipro uk diclofenac over the counter drugs top 10 online methotrexate sites tadalis sx buy canada la vedova allegra testo in italiano comprar cialis profesional minocycline schizophrenia japan buy digoxin online from uk nizoral generic name tricor uk next day delivery buy ciprodex no prescription how to get lipitor on line leukeran generico italiano buy lamictal xr without prescription india pharmacies online that sell quibron t order malegra dxt online with visa health canada allopurinol voveran sr no prrescription buy periactin hong kong pharmacy jcb where to get emsam discount glycomet mg vente de crestor au quebec buy reglan in singapore doxazosin drug in germany pharmacy levothyroxin uk pharmacy what is clomid for pct clonidine tablets 0.1mg tab xenical online price cheap tretinoin 0 025 buy online acai drug in mexico pharmacy combivent phone orders buy aygestin boots buy generic citalopram with bonus free coupon for revia amantadine non generic coumadin and indian food zanaflex where to purchase generic from vermox ampicillin brand name in india is mail order zebeta safe seroquel doctors online levitra for daily use canada alli 60mg cena best canadian drugstore online buy curacne online usa ivermectin drops for rabbits cheap himcocid benadryl buy online uk order clopidogrelum from mexico without prescription script purchase albendazole without buy erection packs 1 pills online flonase generic form safe to buy generic albuterol from canada buy topamax tablets uk buy chewable viagra where to buy diabecon in canada safely mifepristone and misoprostol pill cost flovent buy uk ordering rosuvastatin on line where to get percocet pct buy calcium carbonate pills online buy trental online reviews pill rx health order lipothin products retino a cream 0,025 cheap india pharmacy purchase allegra pills zebeta uk next day delivery aricept 10 mg tablet adalat buy online ireland himcocid prices cvs post cycle therapy actonel trental online buy acai berry pills singapore health canada singulair metformin hydrochloride extended release tablets side effects how to take imitrex bactrim forte 800 160 mg para que sirve generic noroxin purchase accuran mg buy yagara online thru paypals sale ciprofloxacina over the counter medicine that acts as differin purchasing rogaine 5 online can order fasigyn canada remeron birth control online uk celexa australia dosage of liv 52 tablets order zetia online no prescription with a mastercard estrofem for sale australia lopid from usa pharmacy amaryl pills online in the uk purchase extendaquin in australia buy optimmune ointment for dogs online flonase and other medications drugs similar to toprol xl alphagan medicine children why has sustiva been discontinued motrin ibuprofen ciprofloxacin 500mg antibiotics dosage zerit tera buy flucazole boots pharmacy purchasing esperal online uk order astelin overnight picrolax online canada fast delivery prescriptions acticin overnight aciphex refills buy bentyl online no prescription canada hydrochlorothiazide over the counter australia lactose free asthma inhalers evista drug in india drugstore foundation for oily skin yahoo liquid carafate review what is the medication mobic used for can i get high on haldol zyrtec online order buy accutane no prescription guarantee prednisolone side effects in pregnancy eltroxin pills sweat order stieva a on line india side effects of diflucan in children grifulvin v without prescription medication clonidine order worldwide pharmacy protonix viagra professional without a perscription discount ceftin of canada norvasc cheap compazine where can i buy it generic of allegra d nizoral shampoo 2 boots safe place order adalat ralista pharmacy cheapest noroxin tablets uk antabuse phone orders atomoxetin usa without a script canadian online adalat nordette to buy cardura now i pill etodolac website sublingual viagra pro rosuvastatin mg mexico bupron sr no prescription overnight delivery very cheap clomifene seasonique for sale australia possible side effects of bactrim ds order aldactone online no prescription with a mastercard do you need rx lotrel post tamoxifen side effects best online pharmacy for nolvadex azithromycin uk online amoxiline mg no prescription gasex no prescription canada digoxin drug in uk pharmacy haloperidol haldol side effects lipothin dose atarax tablets dogs buy generic online cheap accutane no prescription prometrium shortage where purchase clomifene mentat spain over counter where can i buy colchicina tablets probalan buy without vasotec for sale online common ortho tri cyclen lo side effects kann man viagra ohne rezept apotheke kaufen common side effects of citalopram 20 mg delta cortef cheap mexico pharmacy buy eurax online without a prescription retino a cream canada drug store oratane online legally deltasone india acivir pills mg order snovitra super power 40 mg dose risperidone 2mg no prescription do you need rx antivert florida motilium citalopram 100mg buy forum buy zyrtec online generic eurax tablets 150 mg requip 1 mg tablets bupron sr doctors online buy prandin online pharmacy buy antabuse 100 safe to buy generic vagifem from uk bactroban cream no prescription mupirocin aristocort comprar generic benicar hct 40 25 mg amoxil online pharmacy buy generic online olanzapine with no prescription deltasone no prescription canada posologia do aciclovir 400 mg dabur ashwagandha churna price what is coumadin pills used for buy haldol canada cheap genuine rogaine 5 online buy alavert online cheap reminyl australia pharmacy aricept over counter uk disgrasil approved by fda cilest online ordering how to use eltroxin arjuna online order what are the side effects of abruptly stopping paxil where can i get disulphiram how to use tinidazole buy ginseng tablets india i pill cytotec website lipothin reviews for men buy proscar online from uk viagra super active online bestellen orihinal viagra 6 day prednisone pack dosage purchase tofranil online renova toilet paper canada getting high off benadryl pills requip on line in the uk best male enhancement drugs approved by fda buy viagra professional australia buy baridium pills in the australia acivir pills uk no prescription best place to order finasteride buy gabapentine online overnight zetia discount hoodia pills buy online buy alavert xr without prescription viagra jelly for discount flagyl 400 wiki buy nexium tablets india imodium pills drugstore differin price us priligy noprescrition needed usa online pharmacy albenza 200 mg tab misoprost perth australia provera online from canada do i need a prescription for oratane benicar medication dosage buy voltaren without prescription doxycycline treatment lyme disease dogs cialis professional brands india buy zithromax with no rx where can i purchase generic cialis uk pharmacies online that sell tadalis buy cheap minocin pills purchase prometrium lowest price brand metronidazole buy kesan pil perancang postinor 2 can you buy xenical in ireland micronase order online zyloprim tablets uses alli canada diet pills best place to buy korean red ginseng yasmin tablets uses best generic tadapox sites minocin acne results myambutol ordering no prescription buy prednisona online canada buy vermox have no prescription is there a generic for levitra purchase cipralex online no prescription amaryl mg india topical estrogen for sale benzac refills order cialis 10mg tablets confido in usa order lamisil online no prescription terbinafine prilosec capsules vs. tablets alesse prescription coupon overnight lipitor can you buy aygestin over the counter in germany viagra for sale over the counter is generic actoplus available in usa buy ciprofloxacina with a mastercard low cost urispas elimite over the counter usa is azitromicina available on line in canada where to get kamagra pct digoxin suppliers india canada pharmacy 24h reviews minocycline medicine for acne retin a tablets from buy cost of elocon cream compazine cheap pyridium australia companies only reviews on cordarone what is the street value of trazodone 50 mg free coupon for floxin is generic azitromicina effective where to buy pct products is viamedic a reliable site best place to buy rogaine 2 metocarbamol india sale feldene melt tablets 20mg para que se usa singulair 10 mg acnetane next day delivery low price mentat ds syrup uk indian pharmacy online latisse famvir overnight delivery express drugs rx order suprax no rx canadian pharmacy cost of alli at walmart buy midamor online overnight indian medrol is crestor better than vytorin celexa where to buy in canada i pill l tryptophan website medrol for daily use canada generic zyban for sale on line cheap amaryllis pot save can you buy diflucan over the counter in australia fluconazole almetec medication gabapentine costco buy emsam for daily use minomycin max dose order diamox overnight buy viagra online from uk how long does it take to get paxil to work order promethazine and codeine cough syrup yasmin from canada without rx where can i get some buspar avandamet mg buy floxin prescription elimite costco lowest priced shuddha guggulu aprovel mg buy ceftin australia lamisil canadian medications without prescription purchase cipro 500 mg online valtrex delivery london buy zantac 50 buying hydrochlorothiazide ralista usa sale ordering levitra brand online pill promethazine codeine syrup over counter ampicilina phone orders where can i buy diovan tablets how much benadryl to take for hives metocarbamol generic 2013 drugs best place to buy nexium where do i diovan in uk ordering propecia canada klipal codeine india pharmacy cialis jelly birth control online india levothyroxin buy online canada rythmol sr medication side effects onde comprar seroquel xro mais barato buy diarex without a subscription tamsulozin usa pharmacy bactrim vs cipro for uti where do i buy diamox order cialis super active pills where can i get nootropil buy brafix next day erythromycin next day gabapentine brands india order prednisolone online canada does synthroid cause weight loss weight gain get viagra prescription cialis en ligne port gratuit buy cozaar online canada no prescription pariet price in canada buy cytoxan mexican pharmacies order actoplus from usa without prescription what is omeprazole worldwide pharmacy xenical misoprostol online overnight no prescription ordering guaranteed cheapest viagra forum ordering clomid online uk canadian drug company tetracycline requip online pharmacies with out prescription purchase benadryl perfect measure buy aricept cheapest generic quiero comprar aricept delivery aciphex online cod does boots sell viagra over the counter pharmacy microzide pills online in the uk order cinbalta overnight where can i buy differin tablets allegra cost at sams club original viagra online para que se usa la pastilla ciprofloxacino buy probalan pills in the mexico where to buy cheap generic erection packs 1 can you buy decadron over the counter in germany buy clonidine online us no prescription ciprobay 500 uses can you get viagra for women is cytotec sold over the counter side effects of rythmol sr order trileptal 600 mg zestoretic for sale australia cheap allopurinol prescription all rights ovral l order online no prescription symptoms of ovulation after taking clomid abana in the uk best price for real brahmi levitra shop online buy levothroid key pred without prescrip himcolin online from india comprar cleocin gel online prednisone drug shortage order v gel rx what is diltiazem er for where to buy trandate online usa global pharmacy canada coupon what is rhinocort aqua nasal spray roaccutane dosage calculation do you need rx motrin high blood pressure medication bystolic where to buy lansoprazol online canada suprax online sales retino a cream 0,025 generic uk buy zerit online from usa diprosone order canada methotrexate pills online in the uk buy online stediril generic generic minomycin safe dutas barato ordering toprol xl northwest pharmacy promo code can you buy pharmacy cheap zovirax flomax 100mg cheep buy midamor perth australia phenamax side effects uk caprysin buy mexico what is trazodone hcl 50 mg can you buy priligy online participating pharmacies for $4 lipitor generic brand for nexium why has lamisil been discontinued cheap generic pamelor nortriptyline medication aciphex online without rx buy valtrex online no prescription canadian ordering calan ampicillin drug study for infants arava 50mg tablets brafix without a prescription from india betnovate costco alli orlistat tablets sale in sydney buy cardura astrailia sale glucotrol zestril prescription coupon generic vantin for sale on line cheap ginette 35 usa xeloda 500 mg precio mexico legal buy yagara online canada order dutas pills genuine olanzapine 100mg amaryl refill pack zithromax suspension preparation dulcolax suppository dose for kids vytorin without prescription pills my bupropionum coupons atorlip 10 maximum dosage cost of zocor no prescription styplon sildenafil citrate roche precio argentina cialis soft pharmacy online zestoretic online shipping order stieva a without prescription rhinathiol wikipedia purchase elavil 75 mg biaxsig roxithromycin side effects fluoxetine anti anxiety drugs ventolin inhaler for sale kamagra costco lansoprazol without insurance cost of levitra at walgreens phenergan buy online india medrol pills buy online glucophage xr price cheap novo digoxin no prescription buy celexa 100 erection packs 2 with paypal payment buy wigraine pills in the mexico amoxicillin alcohol liver buy kamagra oral jelly online gel cost of mail roaccutane buy clomid without prescription canada free trial cialis aus domestic para que se usa el cephalexin 500mg narcotics online pharmacy no prescription buy feldene uk generic uk paypal retin a 0,025 purchase cytotec on line in australia united pharmacy support team where to buy metronidazole 500mg buy silagra without rx c ratioph mexico no prescription indocin tablets buy cialis super active drug in fr pharmacy zyban pills buy torsemide to buy in england buy tegretol pills in the mexico cardura tablets side effects herbal viagra that works canada and amlodipinbesilat generic zoloft price walmart order arava uk pharmacy cardizem cd medication differin gel acne.org cheap hydrochlorothiazide sale uk online us pharmacy no prescription tramadol eurax looking for compazine uk companies only online fluoxetina with no prescription citalopram reviews social anxiety atacand plus for sale fast neurontin deleviery where to buy beconase aq online canada doxazosin on line in the mexico shallaki mexico pharmacy order remeron online no prescription with a amex micronase lowest price viagra sublingual on line in the india safe apo clopidogrel no precription buy cheap cordarone diovan hct dosage available what types of atacand are there comprar viagra sublingual online leukeran online in us water pills for bloating tinidazole available over counter vytorin india price best viagra prices lowest pill nolvadex pct guide what is sumycin used for lamisil medicine online mexican pharmacy no prescription acnetane buy ondansetrona mg online for voltaren medicine wiki cheapest place to buy alli.uk buy zanaflex online usa toprol usa order actoplus from canada without prescription clincin from canada without rx clomifene buy uk most reliable place to buy provera online malegra fxt medication online order yagara online canada generic azitromicina cost eldepryl on line in the uk generic exelon torsemide pills sweat lexapro pills online in the india pilex generic for is there a shortage of zyloprim plendil pas cher generic ponstel overnite shipping no prescription asacol is it illegal to order generic chloramphenicol avapro canada online no prescription aldactone 100mg for acne ordering viagra online usaa safe to buy generic orlistat from usa voveran in croatia generic drug rhinocort procardia tablets for sale will zyban make me gain weight when will a generic for propecia be available pharmacy one liners thuoc duphalac syrup upping paxil dosage zyvox pas cher italie illegal buy medications online cialis sublingual generic release date order estro on line usa clomid for women who do ovulate where to buy simvastatina drugs online tretinoin 0,025 over counter genuine cialis super active best price levothyroxin phone orders rumalaya forte cheap uk non prescription diprosone pharmacy dipyridamole price bevispas medicine lamisilate tablets uses non prescription allopurinol pharmacy order erection packs 2 medication by mail cozaar compared to benicar tizanidina no script to buy glucotrol in uk phone in order for compazine where to buy duprost in canada safely bupropionum mg tablet amlodipin on line no script over the counter yeast infection pills for women ciprofloxacin 500mg side effects nhs quetiapinum tablets price citalopram dosage elderly best pharmacy to order brand viagra caverta usage comprar diclofenac gel original en madrid can birth control pills elevated liver enzymes flunil cheap australia pharmacy tamoxifen 40mg escitalopram online no prescription uk over the counter medicine that acts as synthroid generic finasteride canada accutane medication cancer flomax cheap uk sale azitromicina top 10 online augmentin sites purchase clonidine hydrochloride ordering valtrex can you buy cozaar losartan confidence dove comprare ginseng coreano optimmune eye drops for humans cialis otc philippines order salvent without rx viagra samples free pfizer where do i minipress in australia tinidazole in india what is nolvadex used for with steroids ordering thyroxine canada where can i get some cialis cardizem from india pulmicort online no prescription purchase valaciclovir in india buy lady era 40 safe to buy generic trial erection packs 3 from usa purchase anteovin online no prescription tetracycline in pregnancy cheap bactroban sale uk celebrex dose pack no prescription finpecia without a prescription cheap genuine lasilix online what is renagel rumalaya gel canada drugs glucotrol xl online overnight shipping can you buy metronidazole carbozyne us companies only iv to po hydromorphone conversion can i buy amoxicilina in canada atarax 100 mg sommeil ordering ortho cyclen usa gimmepills.com canadian rx drugs pyridium cheap uk pharmacy liv 52 generic wikipedia drugs propranolol canada companies only plavix price in india purchase cialis professional online no prescription order citalopram online in usa suprax 100mg 5ml suspension dosage adalat 10 mg sublingual cialis jelly online canadian unisom fast india nizagara without a prescription from uk seroquel xr 300mg tablet haldol iv dose agitation nizagara drugstore com pricing phenamax online from canada pills to help you get hard long time side effects zyloprim bayer vs indian drug company cipla sinequan pills buy buy innopran xl boots diarex mg mexico mexitil noprescrition needed usa online pharmacy buy zaditor hong kong click here allergy cost of celebrex at costco wigraine online usa buy emoquette in india online pms citalopram reviews buy chloromycetin canada lisinopril no rx buy glyset astrailia mexican pharmacy dot com dot mx hyzaar ds 100 25 tricor precio mexico noroxin online ordering levlen legal in england pharmacy buy drugs triamterene toprol xl 50 mg online how to buy relafen in canada buy actos overnight delivery generic canadian pharmacy ventolin inhaler is it safe to buy prescription drugs from canada online what is orlistat capsules what does digoxin do to blood pressure prevacid usa no prescription eurax lotion australia order diovan online no prescription with a amex fasigyn shopping buy diovan boots purchase generic etabus generic rogaine 5 switzerland buying kamagra from india buying zovirax online legal buy haldol safe erection packs 3 no prescription best place to buy tinidazolum in mexico calan generic for buy duetact pills in the canada premarin 0.3 mg tablet generic lamictal does not work best price keflex indian pharmacy himcocid female sex pills ethionamide shelf life actos discount medication aristocort shelf life nitrofurantoin generic 2013 drugs buying keppra comprar viagra en el salvador lasix mg buy same pills joint pain olistat uk next day delivery side effects of arava leflunomide meijer herbal water pills metformin complications com aldactone no prescription accutane mg mastercard astelin online in canada small round blue pill v 2531 where to buy anafranil with visa where to keppra can you buy lotrisone cream betamethasone dipropionate buy entocort pills new aricept dosage buying unisom in manchester buy viagra in uk viagra generic online purchase sominex next day delivery cardizem western australia diclofenac sodium 75mg ec tablets price brand amoxil uk sale prescription drug pilex ventolin inhaler how to use retin a usa cvs prices periactin tablets used cyproheptadine tablets ip buy kamagra oral jelly mg online diamox uk sale is frusemide a prescription drug aristocort for sale australia olistat uk buy buying toradol clonidine 40mg buy cleocin gel online india buy trazodone online canada no prescription order prandin from mexico without prescription buy generic zoloft online how to take zestoretic celebrex 200mg prospect buy minipress with paypal innopran xl online pharmacies with out prescription cheap ceftin india buy erythromycin singapore viagra for men price india dapoxetine price online pharmacy no prescription needed kamagra soft como comprar altace buy real fml forte brand duprost buy trusted viagra sales cheap raciper free delivery cheap genuine arjuna online most common side effects anti anxiety drugs sinequan over the counter canada tadalis sx online canada fast delivery buy erythromycin pills in the canada pariet buy uk provera buy online australia order fasigyne tablets aciphex from canada without rx buy eldepryl usa otomax supplier in uk l thyroxine online in uk how to use estrace tablets buy 0.2 nitroglycerin cream bactrim dosage recommended what does premarin pill look like oracea medicine online premarin tablets coupons overnight pharmacy tinidazole can i order doxazosin no prescription in the usa can you take viagra at night use cialis professional coupon online top 10 online cialis soft sites buy acticin online no prescription canada viagra soft on the internet list of different brands of birth control pills generic lisinopril picture ayurslim coupon code buy himcolin tablets us la viagra natural chloromycetin australia companies only buy generic cialis fast shipping ordering tadalis sx india order prometrium 120 mg order albendazole from uk without prescription riperdal pills online in the uk web doctor prescriptions purchase fluoxetine in india lamisil over the counter tablets effects of accutane years later relafen pharmacy order buying drugs online forum how to buy augmentin in london canadian online pharmacies clavamox reviews for men ortho cyclen canada online no prescription cipralex uk brand name amantadine dosage elderly buying advair in mexico drugs similar to prednisolone where do i zyvox in canada buy doksazosin lek tablets canada cialis for young men side effects online no prescription uk for proventil acquistare zestril in italia side effects of glyburide during pregnancy cheapest place to buy aripiprazola buy valacyclovir 1000 mg buy anteovin without rx cipro recommended dosage for uti buy isotretin online from australia cheap acticin pills generic where can i buy chloramphenicol dilantin from india clomid oral reviews flomax online purchase buy zofran online in the united states without a prescription genuine actoplus best price use silagra coupon online robaxin 500mg tablets mail order avalide diakof discontinued side effects of caverta 50 mg buying alli in manchester order tinidazole online himcolin phone orders lexapro 10 mg tabletas serevent online india methotrexate 2.5 mg tablets side effects best site to buy strattera imitrex medication migraines estradiol implant buy zerit side effects long term use buy serophene online australia no prescription how to buy pain pills with no prescription
Home BoB Book Reviews Review: Diamond Dollars & The Baseball Economist

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 423 guests online

Atom RSS

Review: Diamond Dollars & The Baseball Economist PDF Print E-mail
User Rating: / 115
PoorBest 
Book Reviews
Written by Andrew Zimbalist   
Monday, 10 December 2007 20:00

Book Review - Zimbalist - Diamond Dollar$ and The Baseball EconomistReview essay on Vince Gennaro, Diamond Dollars: The Economics of Winning in Baseball.
Hingham, Ma.: Maple Street Press, 2007, 253 pp.,

and

J.C. Bradbury, The Baseball Economist: The Real Game Exposed.
New York: Dutton, 2007, 336 pp.

By

Andrew Zimbalist [1]
Department of Economics
Smith CollegeNorthampton, Ma. 01063

Sports economics books seem to be plentiful these days.  The 2007 season brought two new monographs: Diamond Dollars: The Economics of Winning in Baseball by Vince Gennaro and The Baseball Economist: The Real Game Exposed by J.C. Bradbury.  Each attempts to tackle a distinct area within the grasp of economic analysis. 

(See J.C. Bradbury's response to this review on the Sabernomics website) 

(See Vince Genarro's response to this review on the Maple Street Press website) 

Diamond Dollars is the more ambitious of the two.  Gennaro assays nothing less than an uncovering of the mysteries of the baseball economy and purports to offer a model for small market teams to be successful.  Gennaro covers a wide range of issues, from the relationship between winning and revenues, to the value of players, the dynamics of player development, a strategy for assembling a winning team and building a team brand.

Along the way, Gennaro reveals a basic understanding of the economics of baseball and, although not a formally-trained economist himself, a reasonable understanding of rudimentary microeconomic analysis.  He addresses many disparate topics, but his core concept is the “win curve.”  While there is nothing particularly novel here, Gennaro’s presentation puts a different spin on the marginal revenue of winning.   Basically, he argues that the relevant range of wins per season is between 70 and 105.  Below 70 or above 105 wins, he asserts, there is no relationship between winning and revenues.  Within the range, there is a sweet spot between 86 and 91 wins that is the threshold for making it to the postseason, and, consequently, it is within this sweet spot that there is the highest incremental return to winning.  Making it to the playoffs, according to Gennaro, has its biggest impact by increasing a team’s revenues in succeeding years.  For teams below 70 wins, Gennaro’s thesis is that winning a few extra games brings them essentially no new revenue, meaning they have little incentive to spend on free agents, whether or not they receive transfers from the wealthy teams. 

So far, so good.  But here Gennaro hits a brick wall.  His text suggests that he has subjected his theory to rigorous modeling and testing, yet he provides the reader with next to no information on how he has executed his empirical analysis.  The few bits of explanation he does provide fail to inspire confidence.

For instance, Gennaro apparently has done some regression analysis where revenue is the dependent variable and team wins in the current and previous years are two of the arguments.  We are not informed what the other independent variables are, nor are we told whether the relationship is tested linearly, nor for what years it is tested.  Curiously, Gennaro does state that he has weighted the current and lagged team wins equally and that he has run a regression separately for each team to capture its distinct win curve.  It is not clear how many years of data he has in each team regression or why he did not instead use team dummies and interactive variables in a pooled regression to identify these effects.

Furthermore, Gennaro estimates his revenue data.  Here he makes some reasonable assumptions, but he also misses his target on some sources of revenue.  Despite these problems, Gennaro intrepidly forges ahead, glibly making specific claims about various teams’ win curves.  Unfortunately, most of the rest of Diamond Dollars suffers from similar weaknesses.

Detailed problems appear throughout the book.  Here is a small sample of these difficulties.  Gennaro does not adequately source his discussion.  The few footnotes and citations he does provide often confuse or obfuscate the matter.  He claims that he has developed a model to evaluate players’ productivity, but he neither explains the model nor does he cite the pioneering work of Gerald Scully in this field or its lineage.   Later in the book, Gennaro appears to assert authorship of the idea that baseball’s revenue sharing would be more effective if it were based on the value of a team’s market, rather than on a team’s revenue.  Yet this position has been amply discussed in the professional and journalistic literature.  Indeed, it is even incorporated into MLB’s latest collective bargaining agreement, which Gennaro entirely misses.  

Gennaro also makes inaccurate claims about financial data.  For example, he states that the NFL “generates over $2.5 billion in annual broadcast revenues” and that “about 80 percent of the NFL’s $5 billion in revenue is shared” (p. 4).  The correct numbers would be over $3.5 billion, about 70 percent, and over $6 billion.  On the next page, he writes that “$40 million from MLB’s central fund” is distributed equally to each team annually.  The actual number in the last two years has been under $30 million.  Such errors are not catastrophic, except when one tries to make detailed claims about a team’s revenue or a player’s value.

Gennaro devotes an entire chapter to teams’ player development systems.  Here too there are broad generalizations and data inaccuracies that mar his discussion.  He estimates that an average team devotes $12 million yearly to its player development system (scouting, signing bonuses, operation of minor league affiliates.)  The actual average is almost 50 percent higher.  In a footnote, however, Gennaro states that his estimate excludes international scouting and bonuses, perhaps accounting for the lower number.  Yet, it is curious why he would exclude the international aspect of player development, when today almost half of all minor leaguers come from outside the continental United States. 

One of the book’s concluding chapters is entitled “A Strategic Approach to Assembling the Roster.”  Here Gennaro uses his hidden statistical method to find that the ratio of player productivity to player salary reveals that per dollar of output pitchers cost 14 percent more than position players and that left-handed pitchers cost 17 percent more.  The inference is that team general managers should be particularly cautious in overpaying for these positions.  The important question that Gennaro does not address is that if his estimates are correct, why doesn’t the market correct itself over time?  And if the market does correct itself, what is left of his policy recommendations?  The unstartling punch line of this chapter is that low-revenue clubs can be successful by depending less on free agents and more on developing players out of their own farm system.

In his chapter on building a team brand, Gennaro offers a host of broad sweep generalizations and arbitrary weights to make standard, prosaic recommendations common to the marketing literature.  One of his more remarkable statements is found on pages 193-194.  To wit: “A team that tries to get through a season with a roster filled with fringe players and minor league prospects is testing the patience of its fans and risking its credibility.  Even the 56-win Kansas City Royals had proven major leaguers on their 2005 squad.  Matt Stairs and Terrence Long, along with their star player Mike Sweeney, complemented a host of youngsters.  For all their faults in the 2005 season, the Royals maintained the credibility and trust of their fans by not ridding themselves of Sweeney’s $11 million contract.  For the 2006 season, the Royals loaded up on mature talent with Reggie Sanders, Doug Mientkiewicz, Mark Redman, and Mark Grudzielanek, giving hope to the K.C. faithful.”  This worthy team won 62 of its 162 games in 2006. 

Gennaro’s closing chapter has some gems on the stadium economic impact literature.  On page 238, he writes: “The stadium dialogue seems to quickly degenerate into a ‘he said-she said’ by ‘greedy owners’ and ‘ungrateful municipalities’ about who gets the most benefit from a new ballpark and consequently, the appropriate mix of public versus private funding.  The two sides seem to argue so vehemently out of self-interest, citing the results of previous parks, selectively choosing the data that fits their points of view, that they neglect to get at the key issue.  ‘Do stadiums enhance the local economy?’ may be the wrong question.  The right question is ‘Under what conditions can stadiums enhance the local economy?’”  He goes on to claim that if a team plays more day games that it will help local commerce more and, therefore, cities should bargain in their lease agreements to have teams play more day games.  His discussion here is either disingenuous or completely ignorant of the academic literature on the subject of economic impact. 

In the end, Gennaro’s monograph misses its mark.  His treatment of baseball’s economic system offers little of academic value, general reader interest, or team management assistance. 

J.C. Bradbury’s The Baseball Economist is a collection of wide-ranging essays on different elements of the game that the author believes are amenable to economic or statistical analysis.  The quality of these essays is sharply uneven, with the stronger contributions related to evaluating on-field performance. His topics range from why there are no left-handed catchers, to valuing the worth of a pitching coach, whether having a strong on-deck batter actually helps the current batter or not, why there are more hit batsmen in the American League, a game theory treatment of the game’s steroid problem, assessing the role of entrepreneurial behavior in the front office, an evaluation of the competitive balance issue, an introduction to sabermetrics, how much a ballplayer is worth,  and whether MLB is  a monopoly.  Below I consider some of the collection’s high points and low points.  The latter, unfortunately, are more plentiful.

My favorite Bradbury entry convincingly attacks a longstanding baseball myth -- a strong on-deck batter helps the current batter.  Bradbury uses data from 1984-1992 to test this relationship and what he comes up with is the following: for every 100 points higher is the OPS (on-base percentage plus slugging percentage of the current batter) of the on-deck batter, the current batter will walk 2.6 percent less, will have a 1.1 percent lower batting average and will hit 3.0 percent fewer home runs.  He controls for the OPS of the current batter, the game situation, the ballpark and other factors.  Hence, Bradbury concludes that a strong on-deck batter does create an incentive for the pitcher not to walk the current batter, but it also encourages the pitcher to add focus and make tougher pitches in the strike zone, thereby lowering the current hitter’s average and power.  While these relationships are statistically significant, their actual impact is very small.  His conclusion appears solid and one wonders how long it will take before Joe Buck, Tim McCarver, Jon Miller, et al. catch on. 

Bradbury’s chapter on whether it pays for a manager to argue with the umpire is provocative, but unsatisfying.  He describes the phenomenon of a manager protesting a call as rent-seeking behavior.  The manager attempts to bully the ump, so that the ump will remember the unpleasant experience and will think twice before making another close call against the manager’s team.  Bradbury suggests that sometimes the managers succeed in this endeavor, though the statistical evidence he presents is too weak to support his claim.  It is rent seeking because there is no net gain, no output increase, just a transfer of marginal calls from one team to another.  Meanwhile, the fans, according to Bradbury, have their utility lowered because they have to spend a few extra minutes at the game due to these fits of managerial distemper.  Well maybe, but it is also possible that the fans enjoy managerial protests both because they are amusing and because it vicariously vents their own frustration at bad umpire calls.  As for a few extra minutes at the ballpark – hey, it’s baseball.

In another interesting essay, Bradbury assembles evidence that Leo Mazzone is actually a pitching coach who makes a positive difference.  Bradbury compares pitchers performance under Mazzone with their performance before and after working with him.  The evidence appears to support superior skills for Mazzone.  Bradbury also explains Mazzone’s philosophy and method.  Mazzone has now been pitching coach for the Baltimore Orioles for two years.  Perhaps it is time for corroboratory evidence. 

From here the book goes downhill.  In one chapter Bradbury discusses the presumed advantage that big city teams have.  He concludes that (p. 80): “the advantage appears to be slight and virtually meaningless.”  His argument here is sloppy.  Bradbury’s simple regression finds that variance in city size accounts for 40 percent of the variance in win percentage over a period of years.  This seems to indicate a rather substantial impact of city size.  Further, the author fails to consider the interactive effect of city size and a team owning its own regional sports channel (RSN), the number of large corporations in the market, or the size of MLB’s assigned team television market – three factors that would have reinforced the effect of city size.  Along the way, Bradbury misapprehends the functioning of the amateur draft and overlooks the unequalizing effect of the posting system with Japanese baseball.

In his chapter on what makes for an effective front office, Bradbury singles out two desiderata: having a good team on the field and having a low payroll.  Of course, all teams would like that combination, but no team can win every year on a modest payroll.  A franchise is a business and there are more factors behind whether or not it will be a successful organization, including effective promotional efforts, good relations with and involvement in the host community, charitable activities, new investments, and profitability, among others.  Bradbury then attempts to quantify team rankings by adding up the value produced by all the players on each team and subtracting team payroll, yielding his “net value of team play.”  Every team has a positive net value except his lowest ranking team, the Yankees with a negative net value of $29.8 million during 2003-05.  This anomalous result comes from the wrongheaded methodology he uses to estimate player marginal revenue product (to be discussed below) and from the narrow definition he adopts to define team success. 

His chapter on steroids in baseball employs game theory to model the choice that a player makes whether or not to indulge.  He argues that when every player chooses to use steroids it is a Nash equilibrium.  This result, however, appears to depend on his arbitrarily chosen values for the supposed productivity gain and the health costs (only $500,000) from indulgence.  Bradbury’s analysis ignores the enormous uncertainty that surrounds this choice for players.

Another chapter, “Scouts and Stat-Heads,” provides a generally useful introduction to sabermetric analysis, but Bradbury gets a bit starry-eyed over the presumed power of sabermetrics.  On page 147, for instance, Bradbury writes: “Old ways and old scouting methods may disappear, but the end result is a good one for the fan: better and cheaper baseball.”  No team is contemplating the elimination of traditional scouting methods, nor is one likely to in the future.  New statistical methods have been employed to supplement, not supplant, traditional scouting. 

Bradbury’s essay “How to Judge a Hitter or a Pitcher” also overplays the sabermetric hand.  Baseball analysts frequently refer to a statistic called hitting with “runners in scoring position” (RISP).  It is meant to represent how effective a clutch hitter a player is.  Bradbury says folderol:   “The problem is that hitting with RISP is not a skill … but a statistical anomaly.” (p. 155)  “If hitting with RISP is something a hitter can purposely alter, I have a hard time believing he is holding something back in non-RISP situations” (p. 156).  There you have it – there is no such thing as clutch hitting.  This is an awfully linear, materialist view of the world where a player’s emotions and his state of physical depletion over a 162-game season play no role.   Further, Bradbury is being inconsistent.  In his chapter about the on-deck batter, he asserted that a pitcher can ramp it up and pitch more carefully and effectively to the current batter when a strong batter is on deck.  So, in Bradbury’s world, pitchers can focus and pitch in the clutch, but hitters can’t turn the same trick.  Later in the chapter, Bradbury endorses the proposition from Moneyball that on-base percentage (OBP) is three times as important as slugging percentage (SLG).  He arrives at this outcome by running a multiple regression of runs on batting average, OBP and SLG.  The coefficient on OBP is almost three times that on SLG.  The problem here is not only that the arguments are collinear and the coefficients are less reliable, but that SLG  (it counts a homerun as four hits, a triple as three, etc.) is a much higher number than OBP.  The coefficient, therefore, will necessarily be smaller on SLG.  If elasticity is used instead of the estimated coefficient, OBP is 1.8 times greater than SLG.

Bradbury also discusses the assessment of pitching skills in this chapter.  The main argument here is that a pitcher’s ERA from one year to the next is highly variable, but that a pitcher’s walks, strikes and home runs allowed are more stable over time.  The inference is that ERA depends more on outside factors, such as a team’s fielding prowess, and, hence, is a poor measure of the inherent skills of a pitcher.  While there is something compelling to this logic, it seems caution is in order.  First, a pitcher’s skills may actually vary from year to year, along with his ERA, as other factors change, such as, his ballpark, his pitching coach, his bullpen, his team’s offense, the angle of his arm slot, his confidence level, etc.  This variability does not mean that the skill is spurious.  Second, if all we consider is strikeouts, walks and home runs, what are we saying about sinkerball pitchers who induce groundballs or pitchers who throw fastballs with movement or offspeed pitches that induce weak swings and popups?  Didn’t Bradbury already write that with a strong on-deck batter, pitchers can pitch more effectively within the strike zone? 

Next, Bradbury offers a chapter on the worth of a ballplayer.  He gets off to a bad start here by misrepresenting the functioning of the players’ market and the terms of the collective bargaining agreement.  He then misspecifies his team revenue function, leaving out RSN ownership, the number of large corporations in the host market, the size of the team’s assigned television territory, among other factors.  But the fatal problem is that Bradbury’s methodology unwittingly identifies a player’s average revenue product, not his marginal revenue product.  By his reckoning, all of a team’s revenue is attributed to the players, leaving nothing left over for front offices expenses, stadium expenses, minor league operations, or profits.  Given this misstep, it is not surprising that Bradbury finds players at all levels (under reserve, arbitration eligible and free agents) are paid less than what he estimates they are worth.

Bradbury then moves on to the baseball product market, asking “Is MLB a Monopoly?”  Bucking all scholarly analysis and legal decisions on the question, Bradbury writes (p. 201): “I’m not sure MLB is a monopoly.”  Then, in a comedy of errors, he explains his ambivalence.  He writes that Judge Kenesaw Mountain Landis’ decision that baseball was not interstate commerce gave the game its antitrust exemption and that (p. 203) “the Supreme Court has upheld the Landis decision on several occasions.”  Here Bradbury is confusing two cases.  The first was a suit brought by the owners of the Federal League teams in January 1915 against baseball’s reserve clause.  This case went before Judge Landis. Landis, however, never issued a decision.  The parties settled at the end of the year.  The second was a litigation brought by the owners of the Baltimore Terrapins of the Federal League because they did not believe that the terms of the settlement were fair to their franchise.  After losing in district court (where Landis played no role), baseball appealed the decision and won.  The Terrapins then appealed before the Supreme Court, where the case was heard in April 1922.  A few months later the Supreme Court decided in baseball’s favor and the antitrust exemption was born. 

Bradbury then distorts the record further by asserting (p. 205): “At the heart of the argument that MLB acts like a monopolist is the existence of the antitrust exemption.”  He cites no sources for this claim, because there are none.  Each team sport league is a monopolist because it is the sole producer of its product and has no close substitutes.  The NFL has no blanket exemption and it is a monopoly; likewise the NBA.  Bradbury then writes referring to the NFL, NBA, NHL and MLB that “each of these enjoys some antitrust exemptions for collective bargaining with labor unions ….”  Here, of course, it is not an exemption granted to the leagues, but a general statutory exemption granted to all labor unions by the Clayton Act of 1914.  Similarly, the non-statutory exemption --which enables a union to surrender certain labor market rights in exchange for other benefits in arms’ length bargaining --  applies generally to all U.S. industries.  Bradbury continues (p. 208): “There is no strong evidence that the antitrust exemption provides any monopoly privileges to MLB other than protecting it from expensive lawsuits.”  While the value of baseball’s exemption today is not what it used to be, there is still a good case to be made that MLB’s minor leagues and perhaps its amateur draft could not exist in their present form were it not for the exemption.  (This matter is actually rather complicated because any of these arrangements can be subjected to a rule of reason interpretation, balancing their pro- and anti-competitive effects.)

Bradbury’s last essay argues that the market for top-level professional baseball in the United States is contestable.  If this were true, then the earlier question about whether or not MLB is a monopoly might be moot.  Here Bradbury makes two points.  First, if there is an aspect of the industry that is not a natural monopoly and, hence, constitutes an artificial barrier to entry, it is the subsidies from local governments that teams receive for the construction of their stadiums.  But, he avers, this is not really an issue because (p. 220) “the public does not seem averse to subsidizing major sports teams from leagues other than the dominant existing league.”  It is clear that Bradbury has never been involved in starting a new or non-dominant league.  His notion that politicians are not averse to providing subsidies to teams from these upstart leagues is just plain wrong.  Second, Bradbury goes on to argue that MLB’s market is contestable.  He does this by discussing the emergence of the American Association in 1882 and the American League in 1901.  He further adduces what he erroneously calls the “Central League” (real name: the Continental League) forcing baseball to expand the number of its teams in 1961.  Leaving details aside, the difficulty with Bradbury’s claim is that the industry’s economic structure today is very different from what it was 57 or 120 years ago. 

Bradbury, then, whiffs in his effort to expand his analysis beyond the narrow confines of the baseball diamond.  After a promising beginning, The Baseball Economist fails in its intent to expose the real game.


[1] Reprinted from the Journal of Economic Literature, vol. 45, no. 4 (December 2007).

Andrew ZimbalistAndrew Zimbalist is the is the Robert A. Woods professor of economics at Smith College, and is a contributor to the Business of Sports Network. His Author Profile can be accessed here. Read interviews with Zimbalist on the current MLB Collective Bargaining Agreement, as well as an earlier interview on MLB in general.

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?