Contingent valuation of a classic cycling race

Andy Vekeman (), Michel Meulders (), Alain Praet (), Jan Colpaert () and Tom Van Puyenbroeck
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Andy Vekeman: Hogeschool-Universiteit Brussel (HUB)
Michel Meulders: Hogeschool-Universiteit Brussel (HUB)
Alain Praet: Hogeschool-Universiteit Brussel (HUB)
Jan Colpaert: Hogeschool-Universiteit Brussel (HUB)
Tom Van Puyenbroeck: Hogeschool-Universiteit Brussel (HUB)

No 2012/06, Working Papers from Hogeschool-Universiteit Brussel, Faculteit Economie en Management

Abstract: We provide a contingent valuation of a major cycling event, viz. the Tour of Flanders. Starting from survey data, we use a Bayesian method to derive the distribution of Flemish individuals’ willingness to pay for the event. We relate the individual figures to explanatory factors and find that people residing in the event’s core region as well as spectators have a higher valuation. Incorporating the spatial effect, we arrive at an estimated aggregate value of 17.6 million euro.

Pages: 23 page
Date: 2012-01
New Economics Papers: this item is included in nep-spo and nep-tur
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Citations: View citations in EconPapers (2)

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