The impact of professional sports franchises and venues on local economies: A comprehensive survey
这篇综述梳理了30多年来130多项关于职业体育场馆补贴对地方经济影响的研究，发现经济影响非常有限，即使考虑非金钱的社会效益，补贴也难以收回成本，并探讨了地方政府为何仍持续补贴这一悖论。
Abstract Local governments routinely subsidize sports stadiums and arenas using the justification that hosting professional franchises produces economic development and social benefits in the community. The prevalence of venue subsidies generated an extensive and vibrant research literature, which spans over 30 years and includes more than 130 studies. We chronicle this body of research from early studies of tangible economic impacts in metropolitan areas, using basic empirical methods, through recent analyses that focus on sublocal and nonpecuniary effects and employ more sophisticated empirical methods. Though findings have become more nuanced, recent analyses continue to confirm the decades‐old consensus of very limited economic impacts of professional sports teams and stadiums. Even with added nonpecuniary social benefits from quality‐of‐life externalities and civic pride, welfare improvements from hosting teams tend to fall well short of covering public outlays. Thus, the large subsidies commonly devoted to constructing professional sports venues are not justified as worthwhile public investments. We also investigate the paradox of local governments continuing to subsidize sports facilities despite overwhelming evidence of their economic impotence. Our analysis informs academic researchers and policymakers to motivate future studies and promote sound policy decisions guided by relevant research findings.