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For What It's Worth

Michael Rushton on pricing the arts

The economic impact of everything

March 16, 2014 by Michael Rushton 1 Comment

I feel youGoing to a bar to watch basketball, for example. From the New Republic:

Nearly one-third of Americans plan to watch games at work this year, according to a survey from the consumer site RetailMeNot. One in five men said they’d go to a bar to watch at lunch.

But?

March Madness may actually be good for the economy—and for individual companies.

Go on …

Hotels and restaurants in the 14 cities that host games will gain the most, thanks to traveling fans cheering on their teams. But even businesses in non-host cities can benefit. That same RetailMeSurvey found that 28 percent of fans will spend $100 or more if their team makes it to the Sweet 16. They might spend it on new hoodies or hats—or, in some cases, on new large-screen televisions.

Sigh.

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Michael Rushton

Michael Rushton taught in the Arts Administration programs at Indiana University, and lives in Bloomington. An economist by training, he has published widely on such topics as public funding of the … MORE

About For What It’s Worth

What’s the price? Everything has one; admission, subscriptions, memberships, special exhibitions, box seats, refreshments, souvenirs, and on and on – a full menu. What the price is matters. Generally, nonprofit arts organizations in the US receive about half of their revenue as “earned income,” and … [Read More...]

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