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Compensating differentials and the social benefits of the NFL

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Author Info
Gerald Carlino
N. Edward Coulson

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Abstract

The authors use hedonic rent and wage equations to measure the compensating differentials that obtain in central cities with franchises of the National Football League. They use repeated observations of cities over time and thereby obtain identification of the NFL effect through franchise expansion and movement. The authors find that rents are roughly 8 percent higher and wages are 4 percent lower in cities with franchises, though the latter of these two effects is not significant. Thus, professional sports franchises appear to be a public good by adding to the quality-of-life in cities. The authors' findings suggest that once the quality-of-life benefits are included in the calculus, the seemingly large public expenditure on new stadiums appears to be a good investment for cities and their residents.

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Paper provided by Federal Reserve Bank of Philadelphia in its series Working Papers with number 02-12.

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Date of creation: 2002
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Handle: RePEc:fip:fedpwp:02-12

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Keywords: Cities and towns;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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  1. Alexander, Donald L. & Kern, William & Neill, Jon, 2000. "Valuing the Consumption Benefits from Professional Sports Franchises," Journal of Urban Economics, Elsevier, vol. 48(2), pages 321-337, September. [Downloadable!] (restricted)
  2. Adam M. Zaretsky, 2001. "Should cities pay for sports facilities?," The Regional Economist, Federal Reserve Bank of St. Louis, issue Apr, pages 4-9. [Downloadable!]
  3. Gyourko, Joseph & Tracy, Joseph, 1991. "The Structure of Local Public Finance and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 774-806, August. [Downloadable!] (restricted)
  4. Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-71, November. [Downloadable!] (restricted)
  5. Jordan Rappaport & Chad Wilkerson, 2001. "What are the benefits of hosting a major league sports franchise?," Economic Review, Federal Reserve Bank of Kansas City, issue Q I, pages 55-86. [Downloadable!]
  6. Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, vol. 78(1), pages 89-107, March. [Downloadable!] (restricted)
  7. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Rose, Andrew K & Spiegel, Mark, 2009. "The Olympic Effect," CEPR Discussion Papers 7248, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  2. Florian Hagn & Wolfgang Maennig, 2007. "Labour Market Effects of the 2006 Soccer World Cup in Germany," Working Papers 008, Chair for Economic Policy, University of Hamburg. [Downloadable!]
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  3. David E. Clark, 2004. "Amenity Valuation, Incomplete Compensation and Migration," Working Papers and Research 0402, Marquette University, Department of Economics. [Downloadable!]
  4. Gabriel Ahlfeldt & Wolfgang Maennig, 2007. "Impact of Sports Arenas on Land Values: Evidence from Berlin," Working Papers 0703, International Association of Sports Economists. [Downloadable!]
  5. Robert Baumann & Victor Matheson & Chihiro Muroi, 2008. "Bowling in Hawaii: Examining the Effectiveness of Sports-Based Tourism Strategies," Working Papers 0807, International Association of Sports Economists. [Downloadable!]
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  6. Carolyn A. Dehring & Craig A. Depken, II & Michael R. Ward, 2006. "The Impact of Stadium Announcements on Residential Property Values: Evidence from a Natural Experiment in Dallas-Fort Worth," Working Papers 0616, International Association of Sports Economists. [Downloadable!]
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  7. Xia Feng & Brad R. Humphreys, 2008. "Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach," Working Papers 0812, International Association of Sports Economists. [Downloadable!]
  8. Bruce Johnson & Mike Mondello & John C. Whitehead, 2004. "Contingent Valuation of Sports Stadiums and Arenas: Temporal Embedding and Order Effect," Working Papers 04-15, Department of Economics, Appalachian State University, revised 2005. [Downloadable!]
  9. Dennis Coates & David Gearhart, 2007. "NASCAR as a Public Good," Working Papers 0714, International Association of Sports Economists. [Downloadable!]
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  10. Dennis Coates & Brad R. Humphreys, 2003. "Professional Sports Facilities, Franchises and Urban Economic Development," UMBC Economics Department Working Papers 03-103, UMBC Department of Economics. [Downloadable!]
  11. Michael Sam & Jay Scherer, 2006. "The Steering Group as Policy Advice Instrument: A Case of “Consultocracyâ€\x9D in Stadium Subsidy Deliberations," Policy Sciences, Springer, vol. 39(2), pages 169-181, June. [Downloadable!] (restricted)
  12. Dennis Coates & Brad R. Humphreys, 2006. "The Effect of Professional Sports on the Earnings of Individuals: Evidence from Microeconomic Data," Working Papers 0612, International Association of Sports Economists. [Downloadable!]
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  13. Stan du Plessis & Wolfgang Maennig, 2007. "World Cup 2010: South African Economic Perspectives and Perspectives Policy Challenges Informed by the Experience of Germany 2006," Working Papers 004, Chair for Economic Policy, University of Hamburg. [Downloadable!]
  14. Bruce K. Johnson & Michael J. Mondello & John C. Whitehead, 2005. "What is the Value of Public Goods Generated by a National Football League Team: A CVM Approach," Working Papers 05-10, Department of Economics, Appalachian State University. [Downloadable!]
  15. Gabriel Ahlfeldt & Wolfgang Maennig, 2008. "Award-Winning Architecture and Urban Revitalization: The Case of “Olympic Arenas” in Berlin-Prenzlauer Berg," Working Papers 0814, International Association of Sports Economists. [Downloadable!]
  16. Dennis Coates & Victor Matheson, 2009. "Mega-Events and Housing Costs: Raising the Rent while Raising the Roof?," Working Papers 0902, International Association of Sports Economists. [Downloadable!]
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