If college sports are a public good to the university community, what should a university’s administration...
If college sports are a public good to the university community, what should a university’s administration do to improve the market outcome? (Reminder: markets fail to provide the optimal quantity of goods that are public goods)?
Homework Answers
If the college sports is put as a public good, then it has a free rider problem, leading to market failure. So, to improve the market outcome, the administration should take following initiatives.
1. Set minimum eligibility criteria to participate in university sports and ensure that students who participate will meet the eligibility criteria before using the university sports facilities.
2. Set minimum or nominal participation or subscription fee for participation and use of university sports and its facilities to prevent the free rider problem. Here, the subscription fee should be less than market rates to increase the participation level.
3. Form team of volunteers who will be delegated the responsibilities to look after the resources and prevent its misuse by anybody. It will also help preserve the longevity of the university sports resources.
4. Take sponsorship of the university sports that sponsors will provide maintenance and other financial supports to the university sports. In return, there banners , logos and other allied stuff will be promoted via the platform of university sports.
Above initiatives raise funds for maintenance, prevent free rider problem and make people self-responsible for the protection and preservation of public good resource.
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