Episode 264: Should Cities Invest in Sports Stadiums?
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Why Are Hotels So Overvalued?
There's very little follow up on these studies so they can give out these big numbers. So if, for example, hotels double rates and anticipation of the Super Bowl, it is unlikely that they're also going to double the rates of cleaning staff and front desk workers. As economists, we're pretty agnostic about who the money goes to. If it's the citizens of a particular city, LA, that are paying the revenues for this, they should at least know that they're not getting the full benefits.
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