(Solution) 12/4/13 Ra Ndy J. Ma Nilof F : I Pa Id F Or Tha T Roof Top Se A T - W SJ.c Om WSJ WSJ LI VE MARKETWATCH BARRON'S PORTFOLI O DJX THE SHOPS MORE News,... | Snapessays.com


(Solution) 12/4/13 Ra ndy J. Ma nilof f : I Pa id f or Tha t Roof top Se a t - W SJ.c om WSJ WSJ LI VE MARKETWATCH BARRON'S PORTFOLI O DJX THE SHOPS MORE News,...


Use economic terms covered in class (where appropriate) to answer the following questions, in less than 100 words (total) (we learned externalities and Coase's Theorem in class)

 

WSJ: I Paid for That Rooftop Seat (4/28/2013)

 

1. Why are people like John Deppert able to benefit from the Cubs' games?

 

2. Does the current arrangement between the building owners and the Cubs result in the most efficient outcome?12/4/13

 

Randy J. Maniloff: I Paid for That Rooftop Seat - WSJ.com

 

online.wsj.com/news/articles/SB10001424127887324050304578410792088384954

 

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A potential legal spat over the rooftop views of Wrigley Field would be another of the sport's clashes over property rights.

 

April 28, 2013 5:38 p.m. ET

 

Baseball is the national pastime, but litigation is a close second. So it is no surprise that

 

the recently announced $500 million renovation of Chicago's Wrigley Field has been

 

accompanied by talk of a possible lawsuit. Wrigley is famous for its "friendly confines," and

 

that is what the lawsuit would concern: One party wants to change those confines, and the

 

other considers that an unfriendly move—because it would block a view of the field.

 

Since the stadium's construction in 1914, spectators have been able to see its field from

 

the rooftops of buildings behind the outfield bleachers. For the owners of those buildings,

 

this is big business. Each game, more than 1,500 people pay in the $70­$200 range to

 

watch the Cubs from such an unusual vantage point.

 

But the impending renovation of Wrigley Field will reportedly include the construction of a

 

Jumbotron in the outfield—a 6,000­square­foot video screen that would obscure the view

 

from some rooftops across the street. That is where the potential lawsuit comes in.

 

This isn't the first time that rooftop owners and the Cubs organization have had to address

 

their coexistence. In 2002, the Cubs sued the rooftop owners to bring an end to their "free

 

ride," as Andy MacPhail, then president and CEO of the Cubs, put it. Two years later, the

 

parties reached a 20­year agreement that has the Cubs collecting 17% of the rooftop

 

owners' revenue from selling views of the friendly confines.

 

Now the rooftop owners are threatening to use "any and all means necessary"—

 

translation: a lawsuit—to demonstrate that their contract entitles them to 11 more years of

 

unobstructed views.

 

Is all this yet another sign that baseball is losing its innocence to the insatiable appetite for

 

money? Not quite. Of course the sport has changed since the days when men wore suits

 

and hats to the ballpark, but the legal storm around Wrigley isn't such a novel

 

phenomenon.

 

Consider the story of John Deppert Jr. , who once owned a building next to a ballpark

 

where a professional baseball team played. The team used fences and screens to prevent

 

people from watching the action if they hadn't paid to enter.

 

Deppert had an idea. He built stands on the roof of his building tall enough to enable fans

 

to look over the park's fences and watch the games. He charged admission to his roof at a

 

price far cheaper then the team's tickets, and he sold refreshments to his spectators, who

 

numbered 25 to 100 per game.

 

But Deppert didn't own a building in Chicago. He owned one in Detroit. And the team that

 

played on the field across the street was the Detroit Baseball Club, one of eight in the

 

National Base Ball League. The year was 1885.

 

The Detroit Baseball Club was not pleased with Deppert and demanded that he stop

 

selling access to stadium views. He refused. The late 19th century might have been a

 

gentler time, but soon the baseball club lawyered up, suing for an injunction against

 

Deppert's operation. The club lost at trial but appealed to the Supreme Court of Michigan.

 

Each side had some points in its favor. The club had expenses of more than $3,000 per

 

month, and it relied largely on ticket sales to defray costs. By building a fence around the

 

stadium, the team was only protecting its rightful use of the property. Deppert, for his part,

 

was simply using his property without breaking any laws. And the board of building

 

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