Part one of term paper
J.C.H. Jones's article "The Economics of the National Hockey League" (1969) purpose is to explain through simple micro economics that the prime motive of professional hockey team owners is profit maximization. The owners argue that their main interest is "for the love of the game," not the financial benefits of owning a professional sports fr ...

Part two of term paper
... J.C.H. Jones (1969). (1) The profit maximization hypothesis. (2)The joint profit maximization hypothesis that the entire cartel (league) strives for. This hypothesis does not incorporate non profit objectives that influence group behavior. (3) The utility maximization model that allow for many possibilities usually compromising arguments such as the success of the team at a given year and paid attendance for the team's venue. By explaining the frame work of a professional sports league Jones introd ...