Value of Public Goods from Sport Stadiums: 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: Many state and local governments have subsidized the construction of arenas and stadiums for the use of professional sports teams. They often justify the subsidies by claiming the projects create valuable public goods and positive externalities, though such benefits are difficult to measure. An application of the contingent valuation method (CVM) is used to measure the value of public goods generated by two proposed projects in Lexington, Kentucky: a new basketball arena for the University of Kentucky and a minor league baseball stadium. Neither project would generate sufficiently valuable public goods to justify public financing. Although the results cannot be generalized to other cases, they do shed light on some of the main issues involved, and they demonstrate the feasibility of applying CVM to the evaluation of subsidized stadiums.
Value of Public Goods from Sport Stadiums: The CVM Approach
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Created on 1/16/2013
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Additional Information
- Publication
- Johnson, Bruce K., and John C. Whitehead (2000) Value of Public Goods from Sport Stadiums: The CVM Approach, Contemporary Economic Policy, 18(1): 48-58. (Jan 2000) Published by the Western Economic Association (ISSN: 1074-3529).
- Language: English
- Date: 2000