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Table of Contents
Intro
Preface
Contents
Introduction: A Few Words About Robert Baade
Robert Baade: Stadium Economics Pioneer
1 Introduction
2 Stadium Mania
3 Stadium Economics
4 Mega-Events
5 Public Policy
6 Conclusion
References
The Unshakeable Belief in the Economic Impact of Sports
1 Introduction
2 Problem 1: Economic Impact Is an Exceptionally Complicated Estimation Problem Full of Assumptions and Fraught with Errors
2.1 Ex Ante Studies
2.2 Ex Post Studies
2.3 Ex Ante or Ex Post? It Doesnt́ Actually Matter
3 Problem 2: Economic Impact Is the Sine Qua Non Metric That Will Magically and Irrefutably Explain the Value of Events, Teams...
3.1 Problem 2a. Sport-Related Economic Impact Reports Are Ubiquitous in the News
3.2 Problem 2b. Economic Impact Is Unchallenged and Presented as Fact
3.3 Problem 2c. The Media Frames Economic Impact As Consistently and Unequivocally Positive
4 Problem 3: Public Belief in the Economic Impact of Sports Is Unshakeable
4.1 The Context of Super Bowl 50
4.2 Public Sentiment Toward Super Bowl 50
4.3 In a Period of Negative Public Sentiment, the Belief in Positive Economic Impact Persisted
4.4 Conclusion
5 Why Is the Public Belief in Positive Economic Impact So Persistent?
5.1 Direct Spending Isnt́ Economic Impact (But People Think It Is)
5.2 Conspicuous Spending Isnt́ Economic Impact (But People Think It Is)
6 How Do We Move Forward? What Is the Solution?
6.1 Financial Analysis Better Represents the Governmentś Ability to Pay
6.2 Redistributive Analysis Identifies Broader Harms or Benefits
Benefits to Private Businesses
Benefits to Individuals
Costs to Individuals
Public Cost
Public Costs Lead to Additional Costs to Individuals
6.3 Summary
7 Conclusion
References
The Local Economic Impact of Phantom College Football Games: Evidence from North Carolina
1 Introduction
2 Context and Literature Review
3 Data and Empirical Methodology
4 Empirical Results
5 Conclusions
References
Growth Effects of Sports Franchises, Stadiums, and Arenas: 15 Years Later
1 Introduction
2 Literature
3 Data
4 Empirical Model
5 Results
6 Conclusion
References
The Consumer Surplus and Economic Impact of a Participatory Micro-Event: The Beech Mountain Metric
1 Introduction
2 Data
3 Economic Impact
3.1 Methods
3.2 Results
4 Willingness to Travel
4.1 Empirical Model
4.2 Results
5 Conclusions
References
The Dollar Value of an NFL Rivalry
1 Introduction
2 Theory
2.1 Applying Random Utility Theory to Value an NFL Rivalry
2.2 Preferences
2.3 Uncertainty
2.4 The Fans ́Perspective
Type 1 Fan
Type 2 Fan
2.5 Predict Type 2 Fan Membership
Estimating a Model Predicting Type 2 Fan Membership
Preface
Contents
Introduction: A Few Words About Robert Baade
Robert Baade: Stadium Economics Pioneer
1 Introduction
2 Stadium Mania
3 Stadium Economics
4 Mega-Events
5 Public Policy
6 Conclusion
References
The Unshakeable Belief in the Economic Impact of Sports
1 Introduction
2 Problem 1: Economic Impact Is an Exceptionally Complicated Estimation Problem Full of Assumptions and Fraught with Errors
2.1 Ex Ante Studies
2.2 Ex Post Studies
2.3 Ex Ante or Ex Post? It Doesnt́ Actually Matter
3 Problem 2: Economic Impact Is the Sine Qua Non Metric That Will Magically and Irrefutably Explain the Value of Events, Teams...
3.1 Problem 2a. Sport-Related Economic Impact Reports Are Ubiquitous in the News
3.2 Problem 2b. Economic Impact Is Unchallenged and Presented as Fact
3.3 Problem 2c. The Media Frames Economic Impact As Consistently and Unequivocally Positive
4 Problem 3: Public Belief in the Economic Impact of Sports Is Unshakeable
4.1 The Context of Super Bowl 50
4.2 Public Sentiment Toward Super Bowl 50
4.3 In a Period of Negative Public Sentiment, the Belief in Positive Economic Impact Persisted
4.4 Conclusion
5 Why Is the Public Belief in Positive Economic Impact So Persistent?
5.1 Direct Spending Isnt́ Economic Impact (But People Think It Is)
5.2 Conspicuous Spending Isnt́ Economic Impact (But People Think It Is)
6 How Do We Move Forward? What Is the Solution?
6.1 Financial Analysis Better Represents the Governmentś Ability to Pay
6.2 Redistributive Analysis Identifies Broader Harms or Benefits
Benefits to Private Businesses
Benefits to Individuals
Costs to Individuals
Public Cost
Public Costs Lead to Additional Costs to Individuals
6.3 Summary
7 Conclusion
References
The Local Economic Impact of Phantom College Football Games: Evidence from North Carolina
1 Introduction
2 Context and Literature Review
3 Data and Empirical Methodology
4 Empirical Results
5 Conclusions
References
Growth Effects of Sports Franchises, Stadiums, and Arenas: 15 Years Later
1 Introduction
2 Literature
3 Data
4 Empirical Model
5 Results
6 Conclusion
References
The Consumer Surplus and Economic Impact of a Participatory Micro-Event: The Beech Mountain Metric
1 Introduction
2 Data
3 Economic Impact
3.1 Methods
3.2 Results
4 Willingness to Travel
4.1 Empirical Model
4.2 Results
5 Conclusions
References
The Dollar Value of an NFL Rivalry
1 Introduction
2 Theory
2.1 Applying Random Utility Theory to Value an NFL Rivalry
2.2 Preferences
2.3 Uncertainty
2.4 The Fans ́Perspective
Type 1 Fan
Type 2 Fan
2.5 Predict Type 2 Fan Membership
Estimating a Model Predicting Type 2 Fan Membership