Selecting the right professional photographer for an event is a nuanced process rooted in understanding the complex interplay of technical skills, creativity, and interpersonal dynamics. Drawing insights from the Pareto Principle, or the 80/20 rule, we can infer that approximately 20% of the photographers available will provide 80% of the desired results. The challenge then, is effectively identifying and hiring from this prized 20%.

The first step involves a thorough examination of the photographer's portfolio - the magnum opus of their technical expertise and creative vision. This is the practical application of Information Theory, a discipline conceived by Claude Shannon in the mid-20th century, which emphasizes the importance of relevant and reliable data in decision making. The portfolio provides a visual narrative of the photographer's past assignments, their mastery over lighting, composition, and post-processing techniques.

However, the portfolio is just one piece of the puzzle. To make an informed decision, you must also delve deep into their specialization. Akin to the Specialization Theory proposed by Michael Porter in his renowned Competitive Advantage theory, photographers too can have a competitive edge in a particular domain. For instance, a landscape photographer may not possess the requisite skills or equipment for flawless event photography. Therefore, ensuring the selected professional specializes in event photography can significantly enhance the quality of the output.

Additionally, understanding their approach to photography is crucial. The Punctuated Equilibrium theory, a concept in evolutionary biology which suggests long periods of stability interrupted by brief, radical changes, offers an intriguing parallel here. Some photographers prefer a more traditional, posed approach to event photography (the stability), while others adopt a photojournalistic style, capturing candid moments of emotion and action (the radical changes). The chosen approach should mirror the mood and spirit of your event.

Now, the location of the event is an often overlooked factor when hiring a professional photographer, closely related to the principles of Geographic Information Systems (GIS) - the framework for gathering, managing, and analyzing location-based data. A photographer familiar with the venue or the local conditions can leverage their knowledge to capture better photos, especially when dealing with unpredictable elements like lighting and weather.

The timing of the event also plays a significant role. The Circadian Rhythm, the body's internal process that regulates the sleep-wake cycle, impacts a photographer's performance. A nocturnal event may require a photographer adept at working in low-light conditions and one who can maintain their concentration levels during late hours.

The rates charged by the photographer, an instance of Price Theory, should offer value for the services provided. The equilibrium price, the point at which the supply of their services meets the demand, should be reasonable and within your event budget. Remember, the most expensive photographer may not always be the most suitable one.

Finally, the engagement process with the photographer should be clear and structured, reflecting principles of Contract Theory. The agreement should cover the scope of work, timelines, deliverables, and intellectual property rights. This clarity reduces potential friction and ensures a seamless experience.

In conclusion, hiring the right professional photographer requires a deep understanding of multiple disciplines intertwined. A combination of a thorough review process, an understanding of the photographer's specialization and approach, consideration of the location and timing, a fair price evaluation, and a clear contract can increase the likelihood of choosing the right professional for your event. This decision, steeped in the principles of economics, law, geography, and biology, is both an art and a science in its own right.