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Is Smaller Better? A Comment On "Comparative Economic Impact Analyses" By Michael Mondello And , Victor Matheson
Is Smaller Better? A Comment On "Comparative Economic Impact Analyses" By Michael Mondello And , Victor Matheson
Economics Department Working Papers
In a recent article in Economic Development Quarterly, "Comparative Economic Impact Analyses: Differences Across Cities, Events, and Demographics" (November 2004), Michael Mondello and Patrick Rishe examined the economic impact of small, amateur sporting events on host economies. This response to their work suggests four reasons why ex ante economic impact estimates for smaller sporting events may come closer to matching ex post reality than those for "mega-events" including less crowding out, lower hosting costs, higher multipliers, and less incentive for boosters to published inflated figures.
Economic Multipliers And Mega-Event Analysis , Victor Matheson
Economic Multipliers And Mega-Event Analysis , Victor Matheson
Economics Department Working Papers
Critics of economic impact studies that purport to show that mega-events such as the Olympics bring large benefits to the communities “lucky” enough to host them frequently cite the use of inappropriate multipliers as a primary reason why these impact studies overstate the true economic gains to the hosts of these events. This brief paper shows in a numerical example how mega-events may lead to inflated multipliers and exaggerated claims of economic benefits.