Question

College football attendance, especially student attendance, has been on the decline. In \(2016,\) home attendance at major college football games declined for the sixth consecutive year and was the lowest since 2000 . The opportunity cost of engaging in an activity is the value of the best alternative that must be given up to engage in that activity. How does your opportunity cost of attending a game compare with the opportunity cost facing a college student 15 years ago? Can this change account for the decline in college football attendance? Briefly explain.

Short answer

The opportunity cost of attending a college football game has arguably increased over the past 15 years due to factors like the rise of convenient entertainment alternatives, increased real costs of attending a game, and changes in lifestyle or priorities. This increased opportunity cost could indeed be a contributing factor to the observed decline in football game attendance.

Step-by-step solution

Understanding Opportunity Cost

Opportunity cost is an economic term that represents the potential benefits an individual, investor or business misses out on when choosing one alternative over another. Here, the hypothesis is that the opportunity cost of attending a college football game has increased over the years, thus leading to a decline in attendance.

Compare Opportunity Costs

Comparing opportunity costs involves analyzing how the available alternatives to attending a football game have changed over the past 15 years. This could involve the growth of entertainment alternatives (availability of more varied forms of entertainment, increase in academic pressure, shift in youth interests), increased costs for attending a game (transportation, ticket prices, etc.), or changes in lifestyle and time management.

Relate Change in Opportunity Costs to Decline in Attendance

Based on the comparison analysis, relate if an increase in opportunity cost over the years could be a reason for the decline in attendance. For example, if the increased availability and convenience of online streaming services provides an inexpensive and comfortable alternative to attending the game in person, this could increase the opportunity cost of going to the game, thus decreasing the attendance.

Key concepts

College Football Attendance

College football games have experienced a notable decrease in fan presence over recent years. Attendance at these games, particularly by students, has been shrinking steadily. This decline in numbers has been significant enough to be the lowest since the year 2000, specifically peaking in 2016.
The central concept to understand here is the opportunity cost related to attending football games. As students weigh their options, attending a game means foregoing alternative activities or potential experiences.
In recent years, with the evolution of societal and technological changes, the weighing of this decision has doubtlessly shifted in favor of alternatives.

Entertainment Alternatives

A large factor that contributes to declining attendance is the rise in diverse entertainment options. Students today have a plethora of choices at their fingertips. Whether it's binge-watching shows online or engaging with social media, these activities provide convenient, cheap, and personalized forms of enjoyment.

• Online platforms like streaming services offer all the excitement of a game without the hassle of attending in person.
• Gaming and social media platforms attract significant student attention with their endless engagement potential.

These alternatives, not present or not as prominent 15 years ago, reshape how students prioritize leisure time, leading to a higher opportunity cost when choosing to attend a live game.

Economic Analysis

Evaluating the costs associated with attending college football games provides an insight into changing student priorities. Factors such as ticket prices, transportation expenses, and even the cost of associated festivities influence attendance as economic considerations.
With rising living costs, students may find themselves more economically constrained and, therefore, less inclined to spend money on football games. From an economic analysis perspective, choosing different entertainment forms, which might come at a lower cost or even be free, presents an appealing substitute.
This economic shift potentially results in students evaluating the opportunity cost of attending a football game as too high compared to other available entertainment options.

Student Behavior

The behavior of college students today is shaped by various pressures and evolving interests. Academic commitments play a significant role, with increased emphasis on studies possibly curtailing time for leisure activities such as attending sports events.
Moreover, students' preferences might be shifting towards more social or relaxation-focused activities that don't involve attending large gatherings. The changing dynamics of student behavior can significantly impact attendance patterns as students choose leisure activities that align better with their current priorities.

• Personal comfort preferences might lead students to choose more convenient options over going to crowded stadiums.
• The rise of online communities enables students to stay connected without physical presence, further reducing the need for attending games in person.

All these elements contribute to an increased opportunity cost, influencing the choice to forego game attendance.