The article explains the economic impact of professional
sports teams on a city’s economy. The paper claims that they have much less of
an impact than most people expect. It explains that the sports team’s stadiums
actually do more for the economy than the team itself. Most stadiums get used
for concerts and a variety of other events that are not the building’s main
purpose. It also goes on to explain that every dollar spent on tickets or
merchandise for a team that’s one dollar less spent on going out to eat, or the
movies or another leisure activity.
I had
not thought about the economic impact of stadiums or arenas, how they probably
have a huge impact on GDP and consumer spending. I also had not taken into
account that if someone isn’t spending money on items relating to the team they
are probably spending that money elsewhere. Their spending just changes what its towards during times of success.
Matt,
ReplyDeleteThis article seems like it helped you answer a couple questions in your research. After reading this article are you going to include this variable in your model? If yes, what kind of proxy are you going to use to explain the impact of stadiums or areanas? For our purposes, I bet it would be a hard variable to proxy for and especially to find on the internet. Nevertheless, it would be interesting to include if it was possible. Good luck with your rough draft.
-Will
Matt,
ReplyDeleteI think this was a great article for you to read and seem to really bring your paper together. Nice job this semester.