Contingent Valuation of Sports

2012 ◽  
pp. 334-350 ◽  
Author(s):  
Bruce K. Johnson ◽  
John C. Whitehead
Keyword(s):  
Public Goods ◽  
Contingent Valuation ◽  
Stated Preference ◽  
Contingent Valuation Method ◽  
Public Investment ◽  
Investment Project ◽  
Valuation Method ◽  
Civic Pride ◽  
Major League ◽  
The City

This article takes up the task of using surveys to quantify ex ante the value of a public investment project that offers both an excludable benefit stream and an intangible, subjectively valued benefit stream. It specifically describes the use of the Contingent Valuation Method (CVM) to conduct such surveys and to analyze the data to measure the benefits produced by sports public goods. The Lexington survey showed the feasibility of using the CVM to estimate willingness-to-pay for sports public goods, but left unanswered the question of how much major league sports public goods are worth. Pittsburgh's civic pride in its major league status would be intact if the Penguins left, since the city also hosts baseball's Pirates and football's Steelers. Conducting a CVM survey offers an opportunity to ask questions to allow stated preference methods other than CVM to be employed to inform public policy related to sports.

Using Surveys to Value Public Goods: The Contingent Valuation Method

1990 ◽  
Vol 66 (1) ◽  
pp. 107 ◽  
Author(s):  
Alan Randall ◽  
Robert Cameron Mitchell ◽  
Richard T. Carson
Keyword(s):  
Public Goods ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Valuation Method

Stated Willingness to Pay for Public Goods: A Psychological Perspective

1993 ◽  
Vol 4 (5) ◽  
pp. 310-315 ◽  
Author(s):  
Daniel Kahneman ◽  
Ilana Ritov ◽  
Karen E. Jacowitz ◽  
Paul Grant
Keyword(s):  
Public Health ◽  
Willingness To Pay ◽  
Public Goods ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Psychological Perspective ◽  
Valuation Method ◽  
Highly Correlated

In the contingent valuation method for the valuation of public goods, survey respondents are asked to indicate the amount they are willing to pay (WTP) for the provision of a good. We contrast economic and psychological analyses of WTP and describe a study in which respondents indicated their WTP to prevent or to remedy threats to public health or to the environment, attributed either to human or to natural causes. WTP was significantly higher when the cause of a harm was human, though the effect was not large. The means of WTP for 16 issues were highly correlated with the means of other measures of attitude, including a simple rating of the importance of the threat. The responses are better described as expressions of attitudes than as indications of economic value, contrary to the assumptions of the contingent valuation method.

scholarly journals Behavioral Anomalies in Contingent Values and Actual Choices

2016 ◽  
Vol 45 (2) ◽  
pp. 246-269 ◽  
Author(s):  
Gregory L. Poe
Keyword(s):  
Contingent Valuation ◽  
Stated Preference ◽  
Contingent Valuation Method ◽  
Preference Elicitation ◽  
Stated Preferences ◽  
Stated Preference Methods ◽  
Elicitation Methods ◽  
Valuation Method ◽  
Growing Body

A growing body of literature demonstrates that many behavioral anomalies observed in stated-preference elicitation methods such as the contingent valuation method are also observed in actual choices and vice versa. This presentation furthers the argument that such parallel behaviors should be viewed as a strength of stated-preference methods. Three well-known anomalies observed in both stated preferences and actual choices are first reviewed to lay the foundation for this argument. A number of lesser-known anomalies are then presented to demonstrate the wider prevalence of parallel anomalies in stated preferences and actual choices.

Using Surveys to Value Public Goods: The Contingent Valuation Method.

1991 ◽  
Vol 20 (2) ◽  
pp. 243 ◽  
Author(s):  
Seymour Sudman ◽  
Robert Cameron Mitchell ◽  
Richard T. Carson
Keyword(s):  
Public Goods ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Valuation Method
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