Drake Bennett
The Boston Globe
Sports fans invest a lot in their favorite teams—figuratively and literally, said Drake Bennett. Not only do committed fans devote considerable “money, time, and lost sleep” to their teams, taxpayers often shell out millions for stadiums to keep the home team from bolting. Is it worth it? A new study suggests that from an economic standpoint, the answer is yes, though with a catch: “The team has to be good.” Economist Michael Davis and psychologist Christian End found that having a winning NFL team increases the incomes of hometown residents by up to $120 a year. By way of explanation, these scholars point to studies showing that happier people work harder and spend more, thus boosting the local economy. Strange as it may seem, many fans identify with their teams so deeply that when their team wins a big game or a championship, they actually take some credit for the victory. It wasn’t just the Red Sox who won—it was us. Feeling like world-beaters boosts the fans’ self-confidence, testosterone levels, and, as a result, their productivity. Sure, it’s all “an illusion,” but psychologists have long understood that “self-confidence doesn’t have to be earned to make a difference.”
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