can order tegretol online can you buy naprosyn online buy advair diskus 500 51 legal nolvadex online luvox overnight mexican pharmacy no prescription levitra plus how to take dipyridamole mg ampicillin dicloxacillin combination can order silagra canada buy propranolol 40mg curacne mexico pharmacy lantus buy no prescription ampicillin drug in germany pharmacy metronidazole for dogs canada tizanidinum no script tamsulozin medication liquid levothyroid review list of discount prescriptions at walmart elimite doctors online use prednisona coupon online decadron for men in usa price yasmin contraceptive pill australia where to order 270 allegra d what does bupropion sr look like mircette us companies only minipress buy india do you need rx tinidazole buy generic nexium haridra canada prescription can you take ralista daily cheap betnovate sale uk levitra pills sale side effects of tamsulosin hcl 0.4mg capsule lowest priced pravachol buy cardizem canada cipro online pharmacy uk prometrium 200 mg side effects where to buy betnovate with visa is allopurinol and over the counter drug bisoprololi fumaras online canadian buy brand amoxil online without a prescription prednisona cheap india pharmacy buy atacand patch cialis soft sale 20mg lowest buy lamisil spray ordering ampicillin mexico discount celexa from usa isotretin birth control online canada deltasone australia companies only purchase adalat 11 pharmacy over the counter ranitidine dosage can you put fucidin on cold sores phenergan without a prescription buy actoplus tablets us buy metronidazole singapore buy torsemide mg online stieva a india no prescription where to get vantin pct compare meds online reviews furosemide daily use reviews johnson and johnson motrin lawsuit roxithromycin discount voucher ampicilina pills online in the usa ordering depo provera cam you buy steroids mexican pharmacies buy maxalt with a mastercard how to import messages from live mail to outlook 2010 lasix online no prescription needed puedo comprar viagra en farmacias metronidazole antibiotic spectrum celebrex generico italiano weight gain after getting off topamax emoquette over the counter drugs viagra plus trusted online drug stores in canada us pharmacy drugs online how to take elocon asacol vs lialda cost buy lioresal buy parlodel mg online for acheter mobic pas cher buy metronidazole low cheap price lotrisone india pharmacy buy genuine trazodone uk generic lasix safe fluoxetine buy mexico stediril from canada without rx is nexium prescription only order anafranil 10mg purchase premarin in us brand advair diskus free shipping what is amitriptyline hcl 25mg used for zyrtec uk sale is keflex available on line in canada shuddha guggulu uk pharmacy arjuna where to get order cialis online from canada minocin with no rx side effects of taking oral lamisil how much does haldol cost voltaren buy usa buspar spain over counter canada pharmacies online that sell nizagara generic vasotec switzerland what is lanoxin for dogs coreg delivery accutane mg order buy etodolac pills in the australia where to buy phentermine 37.5 mg online drugs similar to erection packs 2 accutane results in a month l thyroxine mexico companies only order brand viagra no rx canadian pharmacy pulmicort drug in canada pharmacy kamagra gold cost comparison levitra plus doctors online legal buy cardura online canada buy l thyroxine online india purchase wigraine in uk nizagara india companies only thyrohormone italiano prednisone 20 mg dosage sildenafil citrate from china fast cabgolin deleviery is caprysin available on line in canada robaxin uk companies only how to purchase wellbutrin sr lamictal coupons 2013 generic female viagra usa most reliable place to buy decadron online alli capsules 84 pack trial erection packs 3 fast canada online non prescription pharmacy suppliers of amitriptyline in us diamox buy no prescription i pill fosamax website astelin uk next day delivery vasotec tablets uk safe place order doxycycline zentel pills buy artane generic name inderal without a script eulexin lawsuit reglan max dose how much will levothroid cost meclizine 25 mg rx pulmicort tablets for sale what is trileptal 600 mg for does viagra work for women too generic for carafate suspension how much does accutane cost in singapore what is ethionamide for buy stromectol in india online yasmin side effects mood buy ditropan tablets mexico order decadron no rx canadian pharmacy where to buy cabgolin online canada generic cordarone buy canada seroquel generic wikipedia drugs buy fasigyne tablets mexico buy wellbutrin sr tablets australia fast antivert deleviery diprosone canada drug store antibiotics for uti over the counter prevacid dosage flomax now where to buy cytotec in quiapo natural viagra watermelon rind where to buy cilest ointment low cost living ltd buy vardenafil uk albenza for men sale in uk buy actos paypal accepted frusemide limited india how to order plaquenil online minomycin fda approved to buy without prescription asthma inhalers no prescription ordering cialis super active cheapest price tadalafil vitamin shoppe in store coupon printable 2012 parlodel how to buy lincocin 600 costo misoprost no prescription tinidazole dosage for trichomoniasis buy ranitidine lowest price what is nolvadex for men prednisone 20 mg dosage instructions what types of ranitidine are there capoten with no subscription cabgolin mexico companies only buying viagra plus in manchester tetracycline dosage instructions mentat ds syrup mg tablet benadryl generic 2013 drugs micronase cheap uk pharmacy buy sorbitrate online in usa is generic bentyl available in usa best site for vytorin buy duphalac online thru paypals can you buy benzac over the counter alti doxycycline not generic buy tofranil paypal betnovate for acne safe effexor xr buy mail order lotrel online get fluoxetine las vegas canadian pharmacy viagra generic online when will generic propecia be available in the united states prazosin costco nino tronchetti provera buy abortion pill ru486 online nymphomax dosage instructions cleocin buy online canada abana shopping cheapest place to buy d order zyrtec forum generic alavert online order acquistare risperdal in italia what is albenza used for revatio mg price antivert prescription only buy geriforte syrup in india online pulmicort prescription coupon cefixime in singapore the chepest nexium do canadian online pharmacies require prescriptions side effects of crestor vs lipitor where zoloft is made finax next day generic bactroban uk paypal suprax medication price generic mirapex switzerland viagra over counter uk 2011 where to get furosemide pct what types of cymbalta are there midamor buy uk where can i buy prednisone buy beta val pills in the us mail order lioresal nitrofurantoin monohydrate 100 mg side effects order malegra fxt overnight levlen precio mexico where to buy amaryllis in mn pharmacy best place to buy compazine in usa anafranil in usa omeprazole 10mg boots we are young we are free lyrics best place to buy lozol generic lamisilate in usa lynoral where to get zovirax pill canadian antara reviews indocin 20mg tab purchase fluss 40 in usa movalis to buy trandate without riperdal online usa what is moduretic for cymbalta mg uk lariam spain herpes zoster valtrex dosage best place to buy benicar janumet without a prescription order adalat on line mexico metocarbamol generic mexico lisinopril 10 mg tablets blood pressure decadron side effects injection long time side effects phenergan western drug etodolac glimepiride dose range can you drink alcohol while on erythromycin what is bromocriptine drug discount xenical otc omeprazole capsules uses tamsulozin tablets from buy buy remeron 100mg online order sominex overnight do you need rx betnovate allpharmacy pills buy biaxin online overnight delivery usa buy nitrofurantoin without prescription bentyl in croatia alli simpson facebook cheap fluoxetina no prescription exelon over counter uk meclizine 40mg meloxicam enolat order online buy cleocin gel perth australia tretinoin cream usp 0.05 side effects where can i buy acai berry from metronidazole mg uk generic viagra soft 100mg where do i buy nolvadex reviews on vytorin best price for real diprosone prometrium phone orders brand name aleve online research grade raciper where to buy parlodel online mexico cialis jelly canada companies only cheap buy acivir pills how to import brand advair diskus thyrox online bestellen research grade lipothin doxazosin mesylate cardura side effects no prescription omnicef sale canadian pharmacy online warafin symptoms of low thyroxine provera no prescription needed do you need rx evista buy avodart tablets usa genuine zestoretic 100mg tofranil canada prescription is gasex available on line in canada where can you buy cough syrup with codeine anteovin generic usa albendazole price india drugs similar to lamisil purchase disulfiramum pills benicar side effects ed can order amoxil canada where to buy bactroban in canada where do i shuddha guggulu in australia mirapex dosage strengths crestor medication dosage canadian vpxl tablet maximum dose of avapro how to order strattera from canada etodolac mg canadian rx buy proscar canada best place to buy amitriptyline in canada generic avodart uk paypal buy claravis tablets overseas pharmacy no prescription meloxicam enolat buy curacne without rx probalan online australia donde puedo comprar actos suhagra 500 what is renagel 800 mg ordering singulair india best place to buy minocin in india online pharmacy actoplus met baclofen medication guide amaryl 2mg tablet where to purchase menosan glyset prices at costco purchase adalat on line in the uk does altace cause weight gain get sildenafil citrate las vegas effexor xr medication reviews viagra in ukraine kaufen como comprar viagra sin receta atarax drugs can you buy levothroid in ireland kamagra gold dose tetracycline canada overnight buy astelin online prescriptions yaz medication buy naprosyn online canada ordering xenical online natural antibiotics cleocin gel usa cvs prices triamterenum refills compazine canada companies only pharmacies cod buy alesse buy eldepryl with a mastercard mail order generic rogaine 2 florida clomifene prozac prix en pharmacie en france coversyl roche precio argentina order silagra on line india luvox without subscription order ovral l online no presctiption levofloxacin 500 mg best place to buy trial erection packs 2 online non prescription motilium compare xenical alli buy thyroxine online pharmacy depakote and alcohol quetiapinum usa sale amoxiline usa sale viagra para la mujer en mexico phenergan pills buy online propecia birth control online australia trimox barato lowest priced prednisone buy aricept capsules lantus vs levemir studies detrol on line in the canada online canadian pharmacy rx order zanaflex from zofran tablets uk order suhagra on line usa canadian pharmacy online retino a cream capoten dosage information buy vermox with strattera in usa canadian pharmacy online actoplus is there a shortage of cefixime overnight prescription buy astelin cytotec australia without perception buy generic zestril online with prescription how to by stromectol online purchase femara pills generic levitra overnite shipping what is kytril tablets buy glucophage online uk alavert discount no prescription brand name prograf online discount amoxiline from usa uk version of strattera cheap kamagra oral jelly sildenafil citrate adalat mg canada is generic aloprim effective cialis 20mg side effects mexico pharmacies online that sell arjuna can you take hyzaar daily where to buy singulair mg vasotec no prescription needed canadian online pharmacy xalatan pills shop online cialis uk generic tegretol buy canada celebrex medication cost buy levaquin in uk buying ginseng plants discount brand name viagra best janumet prices where to buy viagra in sydney where do i zyvox in india avapro precio mexico florida albenda cialis no prescription buy caffeine ergotamine online thru paypals where to buy citolopram in canada is serpina a prescription drug cheap meds india lopid germany cheapest estrace paypal where can i get roaccutane pills purchase avodart online no prescription cheapest cialis and viagra aleve western australia buy azitromicina online no prescription canada cost aricept uk cialis 3 day free where can i get claritin d what is promethazine 25mg tab para que es el medicamento amantadina pilex without a prescription from mexico keftab online from canada buy risperdal online amazon where purchase apcalis sx us online pharmacy no prescription ortho tri cyclen alli side effects long term use ordering super active plus generic levitra what enzyme does methotrexate inhibit emsam dosage too high mexican pharmacy no prescription liv 52 actos de habla ilocutivo buy acai online australia no prescription order lasilix online no presctiption serpina 100mg buy canada pharmacies online that sell sinequan cheap sildenafil citrate online essential tremor propranolol dose lotrisone australia where to buy nizoral pills buy xeloda no prescription fast delivery zithromax uses treatments buy bupron mg pfizer pharmaceuticals uk blopress dosage instructions requip canadian medications without prescription pramipexole depression dose where to buy ventolin online uk costcoviagra cheap d 24 hour allegra hicks generic luvox us best cialis professional prices 20mg soft cost of neurontin in australia cleocin t over counter mercaptopurine ulcerative colitis treatment where to buy viagra plus ointment carbozyne to purchase without a prescription flovent drug in mexico pharmacy generic cialis at walmart ibuprofen 600mg zanaflex for sale online benzac mg buy is antabuse available in australia effexor xr tablets 40mg betoptic in the uk requip tablets us online buy oxybutyninum in ireland buy adalat pills generic aciphex in usa buy plaquenil in usa order sarafem on line usa claritin online coupon purchase aleve in canada brand advair diskus reviews alesse without prescrip mestinon tablets order flunil on line uk wellbutrin xl from canada where purchase arava danazol for sale uk canadian online pharmacy for liv testosterone therapy before and after pics canada buy delta cortef without prescription deltasone generic for buy levaquin with a mastercard baclofen 25 mg nebenwirkungen best place to buy decadron in usa vardenafilum buy online us erexin v drug in fr pharmacy speman india no prescription free or low cost procardia antabuse overnnight mirapex side effects reviews albenza with prescription long term side effects of anafranil himcolin without a prescription common side effects of paroxetine allegra london scarf coumadin buy australia buy nolvadex without rx dyazide side effects long term use effexor xr vs effexor xl acheter cialis en france en ligne zithromax canada drugs is xanax xr available in canada best deal cialis online pharmacy liv 52 canada sale i pill viagra plus website tamsulosin hcl side effects men how to use hoodia diet pills levitra plus on line in the uk prescription order cheap acticin prinivil uses medication ic lisinopril hctz 20 25 mg lexapro dosages for anxiety cymbalta generic 2013 drugs online sinemet purchase can i make trandate motilium max dose pharmacy2u canadian parlodel tablet actos with paypal payment over the counter evista bupron from china discount prinivil from usa eulexin 40mg atrovent online orders buy colospa in singapore yagara without a prescription diarex canadian online canadian diprosone buy cleocin pills in the australia wellbutrin drug wiki keppra shopping mircette no prescription needed canadian online pharmacy synthroid discount no prescription price increase augmentin erythromycin ointment purchase atrovent low dose birth control search consultancy manchester yasmin low dose estrogen celexa heart problems lawsuit buy alli uk online approved pyridium usa cvs prices motilium comprare relafen online from uk buy apo clopidogrel boots valacyclovir 1000 mg drug olanzapine generic reviews is it safe to take 150 mg. viagra generic permethrinum uk is generic kamagra chewable available in usa low cost no prescription flomax buying cefixime lamisilate without a script order rhinocort overnight where could i buy beta val without prescription buy suprax cefixime cheap usa buy himcocid without prescription buy astelin 200 discount canadian pharmacy motilium dosis para abortar con cytotec donde puedo comprar dutas buy mircette 80 mg online differin without a prescription is mail order evista safe can order triamterene online bentyl to purchase without a prescription renova group of companies all types nimotop pills buy yagara with paypal lotrel roche precio argentina can deltasone get you high order abortion pill online uk depakine chrono to buy in the canada without a prescription where to buy tetracycline for chickens dyazide online canadian erection packs 1 online legally where can i get robaxin buy dramamine quick what is duetact made of ponstel india no prescription cialis 100 mg 30 tablet en ucuz ordering anteovin uk what is azithromycin used for uti indian generics online seroflo adalat tablets 10 mg genuine albendazole 100mg glucophage generic brand best place to buy bupropionum in usa where to buy cheap generic strattera low price retino a cream 0,05 uk xalatan with paypal payment uk pharmacies online that sell amlodipin voveran sr from uk instant erection pills usa buy duphalac without prescription best hard erection pills order benemid online uk lotensin online shipping pharmacy buy drugs toradol aripiprazole buy robaxin canada online no prescription cheap generic drugs without prescriptions cheap generic plendil sildenafil citrate on line in the mexico zyvox tablets for sale prometrium buy online ireland order generic keppra sertralina australia pharmacy where to buy safe antibiotics online concerning is brand viagra available on line in canada the chepest seroflo slimor acai weight loss capsules alfa flucon online pharmacy shipped to canada free coupon for vantin canadian lamictal tablet discount celexa buy cardura with paypal is there a shortage of minocin cordarone 100 side effects allegra antihistamine drugs omnicef dose peds acai diet pills walmart doksazosin lek birth control online mexico over the counter medicine deltasone buy cardura with no script online no prescription order medrol cod vagifem generic name clomifene from uk legal cialis canesten hydrocortisone cream boots acivir pills cheapest rate how long to get pregnant on femara canada buy emoquette without prescription how long to use zoloft where to purchase depakote quanto costa viagra farmacia liquid xeloda review exelon no prescription compare prices minocin for purchase cytotec usa sale tenormin atenolol 100mg buy prozac online amazon buy beta blockers online tramadol side effects allegra generic equivalent buy antivert hong kong rx lady era tablets on line to buy retin a gel 0,1 billig kaufen ventolin nebules price philippines comprar fluticanose portugal can buy diabecon online order weight gain yagara bromocriptine parlodel side effects walgreens propecia coupon cheapest wellbutrin sr to buy generic capoten cost buy hong kong generic aristocort online trazodone cheap australia pharmacy order amitriptyline 120 mg purchase erection packs 2 online buy cialis soft australia what is the effect of alliteration in poetry tamsulozin overnight pharmacy buy generic paxil online with prescription where do i retin a gel 0,1 in usa how much do lamisil tablets cost buy diabecon with paypal purchase prednisone on line in mexico buy lantus insulin my cat levitra super active 10 mg tijuana mexico pharmacies diclofenac indian trade name sinemet tablets uses purchase abilify 5 mg approved safe buy isoptin online extendaquin canada consumer medicine information atacand lov cost celadrin zovirax on the internet purchase carbozyne in us where can i get amitriptyline pills cheap metformin discount prices online zyrtec purchase where to buy zertalin ointment genuine caffeine ergotamine best price safe to buy generic zovirax from canada what is decadron injection used for aprovel mg india bactroban dosage children order erection packs 1 package savings antivert from canadian pharmacy nitroglycerin medication children grifulvin without a prescription from canada pulmicort delivery 100 mg premarin cheap pharmaceutical stocks uk buy v gel without prescription us online pharmacy no prescription carafate cheap pilex uk drugs similar to tadalis online hytrin with no prescription canadian ditropan tablet alli trippy job buy shatavari singapore buy indocin boots pharmacy cheap silagra pills order trazodone uk pharmacy nix dermal cream permethrin 5 plendil overnight shipping cheap amlodipinbesilat online from uk nordette sold over counter nexium generico no brasil buy celadrin tablets canada order diflucan online in usa ortho tri cyclen shortage roxithromycin drugstore com pricing retin a ge tablets from buy viagra sublingual prix en pharmacie en france no script zenegra mg order strattera from india without prescription serpina online pharmacy uk viagra jelly with no perscription hydrochlorothiazide dosage too high bactrim without prescription canada buy fluss 40 online from canada albendazole online with out prescription current price eldepryl buy erythromycin next day viagra plus from china florida roxithromycin aciclovir online without prescriptions que es lincocin con eucalipto us pharmacies online that sell sertralina antabuse birth control online canada biaxin from china cafergot online in usa triamterenum fast uk us pharmacies online that sell nizagara evecare capsules for pcos where to buy brafix online mexico singulair annual sales billion cipro buy on line indocin without a prescription from canada where to buy tadalis with echeck can you only get precose on prescription best site to buy glucophage non prescription orlistatum pharmacy trimix injection prices safe to buy generic zyprexa from canada order suprax without rx neurontin dose cost of generic wellbutrin xl at walmart tegretol and cough medicine generic zoloft 100mg side effects depakote suppositories buy discount estrace online chloromycetin eye ointment uses sertralina de 50 mg bula alfa flucon fast canada canadian council for drug education buy janumet online from canada order prandin pill como comprar erythromycin phone in order for prednisolona best drugstore brand makeup primer buy liposafe online usa paxil medicine children bactroban drug in germany pharmacy pill rx health coreg products motilium suppositories for children 10 mg buy calcium carbonate greece revatio without a prescription from canada purchase sarafem on line in india atacand migrene dosering cardura australia buy relafen online amazon ordering simvastatina uk fast remeron delivery viagra jet buy mobic with paypal where to buy tetracycline acne buy brand kytril koala chlamydia outbreak 40 mg strattera reviews generic for robaxin kamagra oral jelly uk sales generic remeron buy australia where to buy raciper online india buy diamox sequels usa costa allegra reviews 2010 actoplus uk online generic nizoral overnite shipping viagra plus overseas priligy dapoxetine blog cheap male erection pills forzest reviews and dosage propranolol suppositories buy viagra super active pills drugstore buy eurax no prescription fast delivery best place to buy acivir in usa list of canadian allies korea how long does it take for avodart to grow hair buy simvastatina low cheap price prilosec tablets uses safe place order pariet can women take propecia hair loss canada vigra for sale slow release metformin tablets buy ampicillin in australia levitra professional no prescription pill kaufen amantadine cost canadian otomax online canada norvasc prescription medication amoxil order canada buy cheap antabuse from per pill treatment order sominex on line usa buy generic roaccutane online generic benfotiamine cost buy generic arimidex cheap where can i get cholestoplex pills buy astelin inhaler canada voltaren usa sale cytotec cheap australia pharmacy no rx diclofenac gel online cheap canadian flonase no prescription zitromax india no prescription excel (herbal viagra) claritin tablet sale floxin mexico no prescription motrin no prescription needed can you split aricept pills prednisolone limited india seasonique online coupon code buy trimox mg online indian generics online flucazole brand tetracycline buy thyrox drug schedule mebendazole buy online raloxifeno generic 2013 drugs zyrtec where can i buy it levothroid on line in the mexico generic pills for cialis super active online viagra pharmacy canada buy generic viagra with paypal billig tinidazole online kaufen brand retino a cream 0,025 buy accuran order online no prescription beta val from uk cheapest prescription albendazole online without order naprosyn from uk without prescription buy claritin next day how to import diflucan online canada pharmacy no prescription cleocin online legally cost lantus insulin canada hytrin 1 mg tablet what is orlistat and how does it work generic drug for tetracycline doxi 1 delivery london meloxicam and ibuprofen pilex fast usa buy depakote er canada class action lawsuit canada accutane sale simvastatina buy cafergot online thru paypals zyrtec medication where can i order desyrel pharmacy that sells proscar buy himcocid online from india ordering cheap brand levitra pharmacy cleocin gel generic australia ponstel to buy in england prometrium fast uk tetracycline side effects during pregnancy buy lamictal online thru paypals buspar online in uk why is generic lipitor so expensive? zitromax generic reviews purchase differin cream ic metronidazole 500 mg pill atacand with no perscription half price gabapentine shallaki discount voucher buy micardis mg nitroglycerin low dose birth control eurax cheap stromectol for purchase alesse 21 how to take allegra 180 mg zithromax uk sale can i make famvir cheapest key pred paypal alphagan p from canada actoplus met uk pharmacy buy medrol online at canada pharmacy buy cafergot tablets canada probalan india companies only what is synthroid made out of ordering cardizem rogaine 5 discount medications purchase florinef canada seroquel xl spc what is the generic name for flagyl buy estrofem in ireland motrin 800 mg prescription actos bonus pills order actos 60mg canada orlistato generic reviews generic celebrex buy canada innopran xl over counter how to order baclofen prescription carafate suspension how much does erythromycin ophthalmic ointment cost pill rx health order amoxiline products viagra sublingual online pharmacy epivir hbv india suppliers side effects of cafergot buy tenormin with no rx prescription medicine for back acne viagra tesco questionnaire comprar alphagan portugal albendazole not generic order chloromycetin eye ointment generic buy phenamax pills in the mexico alesse shortage 2012 aleve online in canada purchase diarex on line in canada buy cytotec singapore best sildenafila prices buy curacne without a subscription buy remeron no prescription cheap generic cialis soft tabs prescription glucophage without a prescription from us cheap genuine skelaxin online demadex mg order purchase furosemide in australia order amoxicillin from canada effexor xr for sale uk drinking alcohol after taking accutane tadalafil ic 35 innovative research aristocort mg no prescription ventolin prescription drug a good web page to buy atomoxetin with no script seroquel to purchase without a prescription generic strattera no prescription finpecia discount price buy propranolol drugs discount stieva a otc order estro online no prescription with a mastercard vpxl mg canadian rx exelon free shipping doxycycline without a prescription from mexico pharmacy mexico cafergot non prescription cystone shuddha guggulu online mexico nolvadex medicines safe buy viagra jelly online buy cheap female viagra pills omeprazole otc uk boots buy chloramphenicol for daily use duetact medication order prescription medicines for dogs arzomicin best online non prescription pharmacy how long does it take for celebrex to work on back pain which uk site to buy synthroid order levitra plus 120 mg what is mobic used for purchase vagifem pills suprax india pharmacy microzide max dose buy kamagra chewable online india stromectol online from uk buy estrofem online uk no prescription what is erythromycin used for sore throat order promethazine with codeine online azithromycin better than erythromycin reviews on aprovel how much does a bottle of promethazine with codeine cost no script lasix mg propranolol canada order januvia to purchase without a prescription over the counter viagra plus ondansetron odt 8 mg side effects view topic order endep online hoodia buy online mexico aricept over the counter india levitra plus canadian pharmacy buy viagra sublingual without a prescription from canadian pharmacy cipro otic suspension price depakote tablets spc buy amoxicillin without prescription canada colospa to buy in the uk without a prescription duprost pills online in the australia metrogel online pharmacies with out prescription cialis professional 100mg tablet to buy yasmin norvasc pills online in the usa buy levlen 100mg online order avalide online with visa no prescription alesse amoxycillin pills buy online order remeron online without rx best place to buy bactrim in canada where can i buy cialis professional tablets us online pharmacy no prescription rythmol sr generic forzest no prescription brand viagra fast canada cheap generic viagra 100mg myambutol tablets uses best zitromax prices can you only get yaz on prescription buy lamisilate online australia no prescription is neurontin available over the counter compazine side effects adults what is the generic for claritin lamictal without a prescription from australia procardia generic nifedipine side effects of meclizine buy percocet pills in the australia carafate where to purchase where can i get mirapex pills online nexium with no prescription citalopram price rite aid ivenox with no perscription content strategy for mobile hyaluronic acid tabs cipla india cozaar mexico no prescription viagra sellers uk where to buy imitrex online uk legal buy zedd online canada proscar hair loss dose diclofenac uk sale best place to buy retin a 0,025 in usa eldepryl without a perscription ginseng online in canada endep with paypal payment levothroid pas cher buy ondansetrona online with out prescription buy sinequan patch reviews on gasex lanoxin overnight delivery can you buy adalat canadian fedex is there a generic drug for wellbutrin nizagara mg india costo del cialis da 5 mg discount zyrtec mg genuine altace best price luvox for dogs buy nexium coupons rebates meloxicam enolat canadian medications without prescription lipothin generic name pharmacy that sells lanoxin furosemide brand name australia onlain kinoebi order rogaine 2 on line usa buy dyazide pills in the mexico nexium otc medicine indinavir online in us no script lanoxin mg phenergan dm generic reviews on flovent legal to buy elavil cialis online australia tetracycline mg no prescription ciprofloxacina india sale paxil cost per month best mestinon prices best place to order ephedraxin in us flomax without tamoxifen mental side effects order omnicef online canada order bupron sr tablets cabana drugs atrial fibrillation buy diclofenac online overnight que es mejor cialis o viagra celebrex without a prescription from australia amaryl buy australia ibuprofen alcohol side effects medrol dosepak to buy in england online wellbutrin sr india botanical slimming tablets ingredients moduretic tablets 40mg better than sarafem differin 40mg ciprofloxacina generic india elavil best antidepressant order erection packs 2 viagra mg buy domperidone online uk how much is trazodone cost metronidazole generic wikipedia drugs allopurinol medication guide warnings buy tetracycline lowest price obagi tretinoin cream usp 0.05 20g 0.68oz amitriptyline weight gain message boards coupons for crestor medicine where to buy salbumol in canada safely viagra kaufen online apotheke betoptic mexican pharmacies canadian pharmacy with out a prescription levothroid brands india buy lamisil online from uk is there an over the counter viagra substitute side effects of fluticanose ordering nexium mexico ciplox 40 mg pharmacy acivir pills no rx what does desyrel sildenafil bulk for sale where can i get suprax from costco pharmacy viagra soft price generic brand for cialis cheap canadian permethrinum no prescription cozaar us sales online bupropion overnight delivery online cystone purchase buy sertralina singapore purchase gabapentine on line in australia anastrozolo online ponstel buy online us online pharmacy no prescription needed codeine order fasigyne from uk without prescription bystolic shop net overstock drugstore free shipping coupon cialis victoria secret viagra vs levitra cheap rumalaya liniment free delivery how to order prometrium online buy cialis professional 40 beat way to order flonase cytotec abortion dosage orally colospa 40 mg dose india pharmacies online that sell vytorin citalopram online no prescription uk canadian viramune 200 mg tablets cheap ditropan india cardizem drug canadian pharmacy where can i buy zenegra tablets safe buy generic propecia tramadol overnight mastercard levothyroxin no prescription needed overseas pharmacy no prescription permethrinum cheap copegus 40 mg trimox buy online india generic pills for flovent paxil birth control online australia get prazosin toronto us pharmacies online that sell quibron t how to buy wellbutrin sr in london oratane results forum buy zyban india cipro generic brand name resources for independent living inc richmond va where to buy zofran pyridium cost canadian aciphex without food medication discount calandre perfume buy aspirin bulk generic from valtrex get zofran las vegas ondansetrona pills online in the usa canadian meds south apollo beach dostinex price south africa liquid cialis rui cardizem buy online australia buy generic mobic online with prescription buy risperdal tablets canada generic salbutamol no prescription zithromax in italia buy minocycline online uk trazodone hydrochloride 100mg capsules best place to buy lamisilate in australia order emoquette on line uk seroflo prices usa i want to pay some lisinopril diovan pills online in the india cheap zestril india lithium legal in england leukeran mail order brand vasotec buy etabus online pharmacy shipped to canada cardizem iv rxlist what is aprovel made of ttsh pharmacy brand biaxin buy zydis online in canada seroquel xr online no prescription cozaar on line no script desyrel dosage too high how to order meloxicam enolat online canada buy vardenafilum without prescription female viagra by mail generic triamterenum cost alli pills cheap duprost avodart pricing kamagra for sale manchester viagra jelly shoppers drug mart where can i buy thyroxin toprol xl spain over counter keflex for uti prophylaxis generic viagra plus buy canada buy generic methotrexate online no prescription how to order phenamax online purchase periactin on line in canada buy microzide with paypal can you take dostinex daily pill rx health metocarbamol products india pharmacies online that sell micronase minocycline capsules cheap sertralina free delivery advair diskus generic uk buy naprosyn 50 viagra prescription coupon order viagra super active rx can you get tadalis sx over the counter buying vagifem from canada no prescription buy viagra super active cheap discount detrol mometasona noprescrition needed usa online pharmacy dyazide to buy cheap genuine flagyl online plendil overnight pharmacy online no prescription uk for lanoxin side effects of long term use of prednisolone in cats lamisilate over the counter zebeta not generic buy bystolic online us no prescription buy depakote for daily use tadapox women buy walmart pharmacy app for iphone health canada bupron where to buy liver pate where do i elavil in india what is the correct dosage for zyrtec cleocin online canada fast delivery lamisilate phone orders clopidogrel bisulfate 75 mg tb augmentin over the couter promethazine generic uk order floxin ear drops online canadian pharmacy oestrogel brands india can you buy hydrochlorothiazide generic discount viagra 100mg pfizer pharma geriforte to buy in the canada without a prescription get antara las vegas zyrtec 10mg dosage for adults propranolol medication dose online tretinoin 0 025 india cephalexin how to buy glucovance no script buy klipal codeine tablets mexico buy anacin with visa motilium film tablet 10 mg 30 film tb malegra fxt online in usa sildenafil citrate non perscription countries acquisto fluoxetine sicuro online estrace fast canada cheap pariet pills can i buy triamterenum in canada generic pills for leukeran elocon uk pharmacy role pharmacy support worker buy tretinoin singapore how much is estro tablets cipralex pricing vente de noroxin au quebec voltaren online in uk american singulair buy xanax online no prescription canada buy arava pills in the canada sarafem on line in the mexico buy cialis online us pharmacy why has propranolol been discontinued delta cortef online coupon code what does methotrexate pill look like buy albuterol pharmacies chloromycetin where to buy moduretic drugs online reviews on toradol himplasia online meds costco glasgow tyre centre can you buy doxycycline in stores decadron pharmacy prices list furosemide suppositories buy viagra plus buy no prescription cialis super active shortage serophene to purchase without a prescription yelp viagra on line cordarone 200 mg tablet motrin to buy in the usa without a prescription janumet generic uk where can i buy clavamox online without a prescription buy colchicina online without prescription canadian drug company disulphiram buy cardizem perth australia online januvia with no prescription buy elimite online canada no prescription tadacip for men sale in uk generic for diovan hct 160 online pharmacy orlistat where can i buy clozaril online without a prescription crestor 5 mg cost coreg mexican pharmacies actoplus met india sale erexin v buy on line order rosuvastatin lowest price order generic beconase aq benadryl usa buy floxin in usa cheap canadian cymbalta no prescription where the wild things are font cheap albendazole sale uk ebey medicine zetia where to buy amoxil online mexico benicar hct side effects alcohol can you get erection packs 2 what is clonidine hydrochloride 0.1 mg finax maximum dosage long time side effects benemid etodolac over the counter usa where can i get glucophage from generic detrol usa dostinex suppliers overseas cheap generic femara provera 10mg side effects how to take premarin and provera buy diclofenac gel tablets canada zebeta buy australia ortho tri cyclen birth control online mexico how to get high off seroquel erythromycin pills zithromax price philippines lariam user reviews buy evecare online pharmacy toprol xl medicine periactin drug interactions buy canada no prescription for toradol where to buy vasotec ointment can you buy vantin online aloprim online without prescription cipro hc rxlist obelit daily use reviews arimidex shortage 2012 buy effexor xr online india generic aripiprazola usa femara no prescription needed is tofranil available over the counter diflucan cost what is renagel used to treat cytotec without prescription miami order generic apo clopidogrel suppliers of priligy in us cialis 20mg user reviews purchase quetiapinum in india key pred india companies only actos over the counter 30mg pioglitazone buy differin canada sale bupropionum cafergot mg canada my zyban coupons hydromorphone hydrochloride side effects seroquel xr 300 mg side effects can you get high off panax ginseng buy benfotiamine online no prescription us diclofenac gel 40 mg dose what is the best viagra to buy wigraine mg order viagra plus coupon code over the counter ciprofloxacin hcl ordering oestrogel on line pilex tablete gdje kupiti vardenafilum us companies only proscar cheap canada pharmacy what is erythromycin made of what is confido drugs over the counter medication sales glucofage 500 mg para que sirve anti nausea phenergan medication lisinopril from canada fasigyne lawsuit novartis femara discount health canada emoquette ordering depakine chrono india can i order combivent online can you take finax daily buy carafate no prescription order simvastatina online zoloft drug oversea elocom drug in uk pharmacy tretinoin cream 0.025 reviews buy hyzaar online uk no prescription licensed pharmacy brand levitra roxithromycin no prescription where to buy nutraelle femcare purchasing frumil online uk buy stieva a online australia no prescription generic of allegra kytril best price doxycycline fast mexico viagra jelly brand positioning cheapest place to buy astelin desi tashan madhubala 7 march 2013 ciplox australia pharmacy diamox generic cost advair diskus results forum exelon mexico no prescription prazosin rxlist celexa birth control online india erythromycin without a prescription from india no prescription isotretin omnicef rx cleocin to buy in australia where to get colchicine pct where can i find viagra in london olanzapine drugs online purchases mail order depakine chrono online ondansetrona pills online in the uk where to buy arimidex with amex cvs pharmacy generic singulair amoxil brand order where can i puchase finast where can i get diclofenac gel from list of tesco stores selling reminyl to buy lady era cialis with amex glucophage spain over counter sale brahmi snovitra super power direct pharmacy how to buy calan buy paxil boots pharmacy is almetec available over the counter avodart where to get where to buy roaccutan cheapest nimotop to buy ovulation predictor while clomid venlafaxina cheapest rate rumalaya forte tablets us online how many tablets of cytotec for abortion glucofage india buy abilify with india drugs and cosmetics act 1940 bactrim spain sale moduretic buying elocom using paypal sominex generic canada celapram drug in usa pharmacy levitra super active online sales can you get high from snorting lisinopril walmart pharmacy prevacid medazole usa no prescription buy fucidin antibiotic cream where can i get salbutamol from over the counter medicine brand levitra vasotec buy online australia very cheap propecia lov cost depakote cialis from india pharmacy viagraindia buy plaquenil 10 oder mg tablets of tetracycline to buy dyazide in uk what is celadrin cream amoxil discontinued caprysin online without prescription best site for yasmin tretinoin 0,05 weight gain safe place order stromectol zyvox generic mexico buy generic liposafe online discount methotrexate mg buy benicar tablets australia buy atrovent online india generic mircette cost viagra indiano does citalopram cause weight gain uk buy cytotec online overnight delivery cipro generic canada acnetane fast uk what is doxazosin mg used to treat safe to buy generic mentat from canada comprar glucotrol xl en argentina how to by cymbalta online amitriptyline complaints order sildenafila online uk primatene mist inhaler uk otomax mail order buying aciphex buy extendaquin greece lady era drug in usa pharmacy ortho cyclen for purchase without a prescription metformin australia pcos cialis levitra ed trial pack lariam price uk order cheap prinivil online retino a cream 0,05 without a prescription from india online lasuna india luvox online india abilify with or without food bothers robaxin lawsuit plavix lawsuit settlements my meclizine coupons bupron sr canada lamisilate for sale philippines diet pills phentermine reviews ventolin evohaler dose himcocid tablets uses nifedipine breastfeeding pain buy genuine sibustat uk order obelit online no prescription with a mastercard can you buy saw palmetto over the counter emoquette generic wikipedia drugs ordering chloramphenicol canada cytotec discount no prescription atomoxetin buy uk benicar capsules safe dapoxetine no prescription sildenafila fda approved to buy without prescription indinavir crystals urine oral nitroglycerin dose what does an allopurinol tablet look like nexium price india vytorin lawsuit 2010 sildenafila mexico no prescription acquisto voltaren sicuro online phenergan without food cheap bupron sr india buy remeron mirtazapine phone in order for valtrex where can i get metocarbamol from estrace drugstore com pricing oracea online with out prescription cheap genuine ponstel online dress like alli simpson s g petch durham where to buy proscar forum cost of prilosec at walmart zofran buy uk amaryl by mail order prednisolone shelf life liquid where to buy caprysin ointment much will generic lexapro cost generic purim how to by motilium online ondansetrona from canada with no prescription ginseng tablets reviews where do i buy carafate retino a cream 0,05 drug class rumalaya uk online kelnor sublingual dosage voveran sr without insurance discount celebrex of canada wellbutrin over the counter canada stieva a cream 0.025 for wrinkles oracea trusted online drug stores in canada metrogel online no prescription acyclovir and alcohol consumption how to order chloromycetin female cialis spain cost of mail tizanidinum apo propranolol 40mg tablet geriforte syrup where to get viramune discount voucher buy cabgolin mg online levitra without subscription singulair order zyrtec drug schedule female cialis overnight delivery minocycline tablets 40mg is avodart available on line in canada procardia lawsuit settlements abilify online canada feldene tablets uk mentax without a prescription taking 2 claritin pills non prescription metronidazole pharmacy seroquel over the counter canada buy trimox low cheap price dilantin drug card best place to buy ephedraxin online beta val online pharmacy shipped to canada what infections does nitrofurantoin treat cialis refill generic zentel canada where do i accuran in mexico what is raciper made of buy maxaman singapore benadryl on line in the canada buy canada no prescription for celexa buy anastrozolo without a subscription risperdal pharmacy prices key pred with prescription buy micardis online overnight sports direct buy zantac inhaler canada retino ac gel composition costco pharmacy vardenafilum price what is endep made of does etodolac make you gain weight purchase quibron t in australia zyloprim over counter i want to buy advair diskus order coreg online no prescription with a amex comprar allopurinol portugal comprar viagra online andorra what is ibuprofen called in usa reglan legal us ringworm medication for cats comprar renagel portugal buy retin a gel 0,1 mg online for can you get high off zoloft yahoo periactin buy online us starlix sublingual dosage brand erythromycin buy lee ann drugs 33139 trial erection packs 3 coupon code saw palmetto pills india ephedraxin pills online in the canada what is estrace for buy generic cialis online tadalafil generic name of pariet best lipothin prices best site get shatavari where to buy speman online canada pills from canada vitorin buy salvent pills in the canada where to get cialis online safe to buy generic estrofem from canada search engines 1990 fluoxetina onde comprar mais barato how to get toddler to take augmentin apo furosemida online with out prescription cheapest nolvadex methotrexate generic equivalent buy fucidin mg online gasex on line for sale no script current price lotrisone buy misoprost online india lozol to buy in england brand cialis online canadian claravis online pharmacy uk depakote canada sale buy retino a cream 0 025 bulk coumadin usa cvs prices benicar hct retail price to buy desyrel in uk
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 376 guests online

Atom RSS

Review: Diamond Dollars & The Baseball Economist PDF Print E-mail
User Rating: / 117
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?