nep-cul New Economics Papers
on Cultural Economics
Issue of 2005‒07‒03
two papers chosen by
Roberto Zanola
Universita degli Studi del Piemonte Orientale

  1. Contingent Valuation of Sports Stadiums and Arenas: Temporal Embedding and Order Effect By Bruce Johnson; Mike Mondello; John C. Whitehead
  2. Does Watching TV Make Us Happy? By Bruno S. Frey; Christine Benesch; Alois Stutzer

  1. By: Bruce Johnson; Mike Mondello; John C. Whitehead (Appalachian State University)
    Abstract: Using the Contingent Valuation Method, this paper estimates the value of public goods the National Football League’s Jaguars produce for Jacksonville, Florida, including the value of elevating Jacksonville to “major league” status and the value of improving racial relations. It also estimates the incremental value of public goods potentially produced by a National Basketball Association team in Jacksonville. The present value of public goods created by the Jaguars is $36.5 million or less, far below subsidies provided to attract the Jaguars. For a basketball team, the figure is less than $22.8 million. The results add to the growing body of CVM literature indicating that sports public goods probably cannot justify the large public expenditures on stadiums and arenas.
    Date: 2004
  2. By: Bruno S. Frey; Christine Benesch; Alois Stutzer
    Abstract: The paper studies a major human activity – that of watching TV - where many individuals have incomplete control over, and foresight into, their own behavior. As a consequence, they watch more TV than they consider optimal for themselves and their well-being is lower than what could be achieved. Mainly people with significant opportunity costs of time regret the amount of time spent watching TV. They report lower subjective well-being when watching TV for many hours. For others, there is no negative effect on life satisfaction from watching TV. Long hours spent in front of a TV are linked to higher material aspirations and anxiety and therewith lower life satisfaction.
    Keywords: Life satisfaction; mispredicting utility; revealed behavior; self-control problem; TV consumption
    JEL: D12 I31
    Date: 2005–05

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