This article reports an application of the contingent valuation method to measure the value of public goods generated by a professional sports team, the Pittsburgh Penguins of the National Hockey League. The data and analysis indicate that a major league sports team can produce widely consumed...

Many state and local governments have subsidized the construction of arenas and stadiums for the use of professional sports teams. They often justify the subsidies with claims that the stadiums generate positive externalities, including public goods. Some research using Contingent Valuation...