Willingness to Pay for Hosting Formula One

Christian Gjersing Nielsen, Søren Bøye Olsen and Arne Feddersen

Journal of Sports Economics, 2025, vol. 26, issue 3, 290-315

Abstract: Following Carson and Groves’s theoretical framework on incentive compatibility in stated preference surveys, we apply the contingent valuation method with a single-bounded dichotomous referendum-style choice question to estimate the willingness to pay to host a Formula One Grand Prix in Copenhagen, Denmark. Based on a sample of 2,268 respondents answering a web-based questionnaire distributed to a random sample of individuals living in Copenhagen through the Danish public digital post system, we find an annual aggregate welfare improvement in the range of €7.36–13.82 million among the 320,825 households in Copenhagen Municipality, with €9.70 million as our central estimate, not considering potential negative welfare changes from hosting.

Keywords: contingent valuation; willingness to pay; Formula One; consequentiality (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:26:y:2025:i:3:p:290-315

DOI: 10.1177/15270025241301080

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