The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach
AbstractThis article reports an application of the contingent valuation method to measure the value of public goods generated by a professional sports team, the Pittsburgh Penguins of the National Hockey League. The data and analysis indicate that a major league sports team can produce widely consumed public goods such as civic pride and community spirit and that the value of those public goods may be substantial. However, in the case of the Penguins, the value of the public goods is far less than the cost of building a new arena. Although the analysis of public goods generated by other teams in other cities might lead to different results, the results of this article call into question the widespread practice of government funding of sports stadiums and arenas because it appears that the costs borne by taxpayers exceed the benefits received.
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Bibliographic InfoArticle provided by in its journal Journal of Sports Economics.
Volume (Year): 2 (2001)
Issue (Month): 1 (February)
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Other versions of this item:
- Bruce K. Johnson & Peter A. Groothuis & John C. Whitehead, 2000. "“The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach,”," Working Papers 0014, East Carolina University, Department of Economics.
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
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- Peter A. Groothuis & George Van Houtven & John C. Whitehead, 1998.
"Using Contingent Valuation to Measure the Compensation Required to Gain Community Acceptance of a Lulu: the Case of a Hazardous Waste Disposal Facility,"
Public Finance Review,
, vol. 26(3), pages 231-249, May.
- Peter A. Groothuis & George Van Houtven & John C. Whitehead, . "Using Contingent Valuation to Measure the Compensation Required to Gain Community Acceptance of a LULU: The Case of a Hazardous Waste Disposal Facility," Working Papers 9709, East Carolina University, Department of Economics.
- John J. Siegfried & Andrew Zimbalist, 2000. "The Economics of Sports Facilities and Their Communities," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 95-114, Summer.
- BK. Johnson & JC. Whitehead, 2000. "Value of public goods from sports stadiums: the CVM approach," Contemporary Economic Policy, Western Economic Association International, vol. 18(1), pages 48-58, 01.
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