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New Research from Center for Economic Education Investigates Whether Cities' Entertainment Offerings are Amenities or Disamenities

New research out of the Turner College's Center for Economic Education examines whether compensating wages and price differentials exist across cities in the U.S. The study, authored by Bishwa Koirala of the University of North Carolina at Pembroke, Hem Basnet of Methodist University, Kamal Upadhyaya of the University of New Haven, and Frank Mixon, Director of the Center for Economic Education at CSU, calculates the net implicit monetary values of the cost of living in cities with a higher cost of entertainment offerings. These net implicit monetary values reflect an individual’s willingness to pay for, or willingness to accept, life in cities with a higher cost of entertainment offerings. Viewed in this way, a city’s entertainment offerings are not clearly an amenity or disamenity. On the one hand, the higher costs of entertainment offerings might reflect higher quality offerings. On the other hand, higher costs of entertainment offerings may be a disamenity perhaps because there are utility costs through their inaccessibility. Given these considerations, Mixon et al. explore a unique and novel idea – mainly the implicit monetary value of households’ preferences with regard to employment when wages do not fully reflect the cost entertainment offerings – that has been heretofore ignored by the academic literature. Using data from the 2018 American Community Survey for cities in North Carolina, results from a seemingly unrelated regression approach suggest that although the cost of entertainment offerings is capitalized into both wages and rents, individuals receive compensating differentials (i.e., larger increases in wages than in rents) for living in cities with high costs associated with entertainment offerings. The study is scheduled to appear in a future issue of the Journal of Regional Analysis & Policy, founded in 1970 as the official publication of the Mid-Continent Regional Science Association.
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