TAILIEUCHUNG - Lecture Issues in economics today - Chapter 40: If you build it will they come? And other sports questions

In this chapter students will be able to: Apply economic principles to issues of sports; conclude that despite the obvious attempts of cities to acquire sports franchises through league expansion and by other means, no economic evidence suggests that having a franchise enhances a city’s economic stature; analyze how owners decide when negotiating with players, whether they wish to make more money or win championships, since it is clear that teams in small markets cannot do both;. | Chapter 40 If You Build it Will They Come? And Other Sports Questions Chapter Outline THE PROBLEM FOR CITIES THE PROBLEM FOR OWNERS THE SPORTS LABOR MARKET THE VOCABULARY OF SPORTS LABOR ECONOMICS The Problem for Cities If a city wants a team should it wait for expansion? Cities that succeeded with expansion Football Jacksonville, Charlotte, Cleveland*, Houston* Baseball Miami, Tampa, Denver, Phoenix lure a team from another city? Cities that succeeded with luring others Football St. Louis, Memphis, Oakland-LA-Oakland, Baltimore The Economic Impact of a Sports Teams Are lures to sports franchises the same as lures to other business? Most economists, argue that sports teams do not offer much economic impact. The reasons are Few home games (8 in football up to 81 in baseball) Local substitution: the effect of the substitution of one economic activity for another within a community, so the net effect is zero. Money spent at the stadium is mostly money that would have been spent in the .

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• Issues in economics today
• Lecture Issues in economics today
• Macroeconomic issues
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• Labor market
• Economics of crime
• Economics of children
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• Demand model
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• Gross domestic product
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