The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach
- ASU Author/Contributor (non-ASU co-authors, if there are any, appear on document)
- John Whitehead Ph.D., Professor & Department Chair (Creator)
- Institution
- Appalachian State University (ASU )
- Web Site: https://library.appstate.edu/
Abstract: This 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.
The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach
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Additional Information
- Publication
- Johnson, Bruce K., Peter A. Groothuis, and John C. Whitehead (2001), The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach, Journal of Sports Economics, 2(1): 6-21. Published by Sage (ISSN: 1552-7794). doi:10.1177/152700250100200102
- Language: English
- Date: 2001