Economist: Despite Loss Tourney Run Can Benefit Purdue
An economist with the Indiana University Kelley School of Business in Indianapolis says despite Saturday's loss, Purdue University's run in the NCAA Men's Basketball Tournament raises the school's profile. Purdue was eliminated from the Elite Eight after losing Saturday to the top-seeded University of Virginia. Kyle Anderson, clinical assistant professor of business economics, says while Purdue is a nationally-recognized university, it doesn't quite have the brand name that some other schools do.
In an interview with Inside INdiana Business Reporter Mary-Rachel Redman, Anderson talked about the impact on a school if it performs well in the tournament.
"There have been studies that (show) going to the Final Four or winning a national championship can lead to higher applications for admissions," said Anderson. "There is a link there. We saw it a lot with Butler when they had those great runs years ago and so there's a definite impact. This will be good for Purdue's admissions. It may be relatively short-run and a lot of people want to go to Purdue anyway; it's a great school but this definitely helps."
Anderson says Purdue's run in this year's tournament could also have a potential impact on alumni giving. He says the "warm glow" that the university generates through athletics can have a long impact as well, whether it results in major donations from wealthy alumni or increased giving from "regular" alums.
Anderson adds its hard to measure the kind of economic impact a successful run through the NCAA tournament can generate. "I don't think it's a huge dollar impact, but there are some things that you don't measure in dollars. It's just fun for the city and for the state."