Review on the Payment Vehicle of Contingent Valuation Method – Focused on the Local Financial Investment Project

2020 ◽  
Vol 23 (1) ◽  
pp. 59-75
Author(s):  
Namju KIM
Keyword(s):  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Investment Project ◽  
Financial Investment ◽  
Payment Vehicle ◽  
Valuation Method

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.

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