Environmental Economics
The cromulent economics blog
recent posts
Category: Sports
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…I know because I watched my second oldest daughter run it on Sunday and she looked really tired at the end (Picture is at the start line at Dodger Stadium the day before the race).
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From the inbox: Your article Estimating the Value of Medal Success in the Olympic Games has now been published in Journal of Sports Economics Volume 19 Issue 3, April 2018 and can be viewed at doi.org/10.1177/1527002515626221 Here is the abstract: We estimate Canadians’ willingness to pay (WTP) for medals won by Team Canada in the 2010 Winter Olympic Games using…
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John C. Whitehead and Pamela Wicker, Tourism Management, Volume 65, April 2018, Pages 160-169 Abstract This study examines the monetary value of nonmarket benefits to participants of an active sport tourism event, such as happiness and pride from participating in an event. Willingness to travel (WTT) greater distances for future events is assessed and converted into…
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My hard copy just now arrived in my box. The website says it was "First Published October 16, 2015." Abstract: American households’ willingness to pay (WTP) for soccer player development is measured using the contingent valuation method. Data are drawn from two national surveys administered before and after the 2014 World Cup event. Individuals are asked…
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There's a well known result in Econ 101 (I need to write this chapter for Env-Econ 1010 sometime) that if the demand for a good is elastic*, lowering the price will increase revenues, and vice-versa. If the demand is inelastic, then lowering the price lowers revenue. Unfortunately it's rare to get a nice clean real…
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Having trouble believing the return on this will be positive: The least sexy part of the Olympic process is when the games are over and giant, state-of-the-art stadiums remain standing often in sparsely populated areas with no potential tenant in site. This conundrum was highly publicized after the 2016 Games in Rio, when the Marcana…
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While sitting at home recovering from my recent neck surgery I had plenty of time to watch the NCAA Basketball Tournament (AKA March Madness, AKA Crap Shoot). To occupy some of my time I entered some of the big (free, non-gambling, for entertainment purposes only) online bracket challenges. The ESPN Mike and Mike tournament challenge…
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ESPN Senior Writer Darren Rovell tweets seniorly: The average price paid on StubHub for a ticket to tonight's college football playoff title game is $1,266. That's almost three times the price paid last year ($425) Why? In a well-functioning market there are only four possible changes, and resulting effects on prices and quantities, in supply and/or…
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I was cleaning off some bookshelves this afternoon and I came across a copy of The Wealth of Nations that I borrowed from a local library my senior year as an undergraduate (and never returned, but that's not part of the story)–in 1991. Sticking out of the book was a ticket to an Orioles/A's major…
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