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Bruce arena tactics1/5/2023 ![]() ![]() They also should be willing to accept lower wages for the opportunity to live in a more attractive environment. Assuming people value something for the pleasure it brings, they should be willing to pay more to live in a city with that thing. How does one measure whether a public good has made the city more attractive? Two possible indicators are rent and property values. In economic terms, the presence of a sports team or facility becomes “a nonexcludable public good.” To the extent that having a major sports team builds civic pride, its benefits may extend beyond the paying audience. Economists describe things like clean air or bike trails as “hedonic” benefits. If public expenditures cannot be justified through their direct economic benefits perhaps they can be justified by making their cities more attractive places to live. Impact on public budgets: Tax expenditures on sports facilities may crowd out higher priority uses, such as additional policing.Many of the athletes live outside the team’s home city, so that there is high leakage of revenues to other places. Leakage: In terms of employment sports teams are actually very small businesses.Given constraints on the entertainment budgets of consumers, spending on sports substitutes for other recreation and entertainment spending. ![]()
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