Contingent Valuation of a Classic Cycling Race

Andy Vekeman, Michel Meulders, Alain Praet, Jan Colpaert and Tom Van Puyenbroeck

Journal of Sports Economics, 2015, vol. 16, issue 3, 268-294

Abstract: We provide a contingent valuation of a major cycling event, namely the Tour of Flanders. Starting from survey data, we estimate several models with different assumptions about (1) the latent willingness to pay (WTP) distribution and (2) the change in WTP when responding to the follow-up question in a double-bounded dichotomous framework. 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 24.3 million euro.

Keywords: contingent valuation; cycling; spatial effects; Bayesian method; starting point bias (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:16:y:2015:i:3:p:268-294

DOI: 10.1177/1527002513476040

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