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Kavitha A. Davidson

Nobody Won the Economic World Series

Studies crowing about financial benefits for host cities are dubious at best.
World Series - New York Mets v Kansas City Royals - Game Two
Photographer: Jamie Squire/Getty Images)

The Kansas City Royals are world champions, after defeating the New York Mets in Game 5 of the World Series in 12 innings Sunday night. But some might have you believe that there's reason for residents of both cities to celebrate, at least from a financial standpoint.

Yes, it's the old claim that big sporting events have big economic impacts on their host cities -- repeated and cited by people as though it's accepted fact. Study after study by sports economists continue to debunk these claims, yet every year we're inundated with ambitious estimates designed to make us go "wow" and justify the subsidies and tax exemptions given to teams for the stadiums that might ultimately host these events.