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Estimating Local Welfare Generated by an NFL Team under Credible Threat of Relocation

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Author Info

  • Aju J. Fenn

    ()
    (Department of Economics & Business, 14 E. Cache La Poudre St., Colorado College, Colorado Springs, CO 80903, USA)

  • John R. Crooker

    ()
    (Department of Economics & Finance, Dockery 300-G, University of Central Missouri, Warrensburg, MO 64093, USA)

Abstract

This study offers the opportunity to examine the welfare contribution of the Minnesota Vikings to Minnesota households in the context of a credible threat of team relocation. We find the credibility of the threat of relocation is essential to providing unbiased estimates of welfare. This study utilizes contingent valuation methodology (CVM) and a random utility model (RUM) to analyze Minnesotans’ decision-making mechanisms for supporting a new stadium initiative. While previous studies have attempted to measure the welfare associated with a sports franchise, we develop and discuss bias that may be imparted to estimates when the researcher fails to calculate a ‘‘choke price.’’ Further, we develop an unbiased approach to identify welfare when respondents perceive a risk of losing the franchise. The range of welfare contribution by the Vikings to households in Minnesota is $445.3 million to $1,571.3 million according to a 95% confidence interval based on our study.

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Bibliographic Info

Article provided by Southern Economic Association in its journal Southern Economic Journal.

Volume (Year): 76 (2009)
Issue (Month): 1 (July)
Pages: 198-223

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Handle: RePEc:sej:ancoec:v:76:1:y:2009:p:198-223

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Web page: http://www.southerneconomic.org/
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  1. The Intangible Benefits of the Vikings and the Relocation Threat Credibility
    by Phil Miller in Market Power on 2010-01-19 17:55:03
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Cited by:
  1. Pete Groothuis & Kurt W. Rotthoff, 2014. "Surveying the Literature and the People: The Economic Impact of Sports Teams and Civic Pride," Working Papers 14-05, Department of Economics, Appalachian State University.
  2. Humphreys, Brad & Johnson, Bruce & Mason, Daniel & Whitehead, John, 2011. "Estimating the Value of Medal Success at the 2010 Winter Olympic Games," Working Papers 2011-20, University of Alberta, Department of Economics.
  3. Brad R. Humphreys & Li Zhou, 2014. "Loss Aversion, Team Relocations, and Major League Expansion," Working Papers 14-17, Department of Economics, West Virginia University.
  4. Huang, Haifang & Humphreys, Brad, 2012. "Do New Sports Facilities Revitalize Urban Neighborhoods? Evidence from Residential Mortgage Applications," Working Papers 2012-5, University of Alberta, Department of Economics.

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