scholarly journals Evaluating Special Events: Merging Two Essential Approaches

2019 ◽  
Vol 23 (6) ◽  
pp. 897-911
Author(s):  
Larry Dwyer ◽  
Peter Forsyth
Keyword(s):  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Hybrid Approach ◽  
Cost Benefit ◽  
Evaluation Process ◽  
Economic Impact Analysis ◽  
Special Events ◽  
Benefit Estimation ◽  
General Equilibrium Modeling

In special event evaluation, given the shift away from standard economic impact analysis based on input–output modeling, increased attention is being paid to the roles that computable general equilibrium modeling (CGE) and cost–benefit analysis (CBA) can play in event evaluation. This article analyzes the strengths and limitations of CGE and CBA in the context of event assessment. A "hybrid" approach is outlined which includes a role for the advantages of both techniques to be included in the evaluation process. The issues addressed are theoretically important for both impact and benefit estimation, while having significant practical implications for event assessment.

Economic assessment of special events: a perspective article

2019 ◽  
Vol 75 (1) ◽  
pp. 191-193 ◽  
Author(s):  
Larry Dwyer
Keyword(s):  
Economic Impact ◽  
Computable General Equilibrium ◽  
Best Practice ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Economic Assessment ◽  
Important Conclusion ◽  
Content Type ◽  
Economic Impact Analysis ◽  
Special Events

Purpose This paper aims to provide a perspective on the economic assessment of special events. Design/methodology/approach Three main approaches to the economic evaluation of special events are distinguished. These are: standard economic impact analysis, computable general equilibrium modelling, and cost benefit analysis. An historical account of the use of these approaches is given together with a discussion of the advantages and limitations of each. Findings An important conclusion is that the evaluation of special events should go beyond economic impact analysis in favour of a more comprehensive “hybrid” assessment. Originality/value The paper puts event evaluation into perspective and points to a promising future direction of study. An expected outcome of the use of hybrid models is a narrowing of the divide between practitioners and theorists regarding best practice event evaluation to the benefit of all stakeholders.

scholarly journals The Economic Impact of Participant Sports Events: A Case Study for the Winter World Masters Games 2020 in Tyrol, Austria

Economies ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 94
Author(s):  
Petri Lintumäki ◽  
Hannes Winner ◽  
Sabrina Scheiber ◽  
Anna Mederle ◽  
Martin Schnitzer
Keyword(s):  
Economic Impact ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Empirical Work ◽  
Cost Benefit ◽  
Group Setting ◽  
Sports Events ◽  
Economic Impact Analysis ◽  
Organizational Resource ◽  
Novel Method

The Winter World Masters Games (WWMGs) are a large sports event for 30+-year-old athletes. As there are neither competitive qualification requirements for participants, nor entrance fees for spectators, the event can be considered as a participatory sports tourism event rather than a spectator event. In 2020, the WWMGs were staged in Innsbruck, Tyrol. In this study, we estimate the payoff of the event for the regional economy by assessing the impacts generated by participant spending and organizational expenditure. Furthermore, we discuss the peculiarities of the masters sports concept. Our empirical work is based on three distinct analyses: (1) economic impact analysis of participant spending, (2) cost-benefit analysis of organizational resource flows, and (3) discussion of impacts with experts in a focus group setting. Our results support the previous findings that masters sports events attract rather affluent and consumption-oriented participants. Indeed, the WWMGs were found to have a regional economic impact of €6.18 million and an estimated yield of €4.40 for each publicly subsidized euro. For an audience interested in the economic impact of events, this paper presents a novel method for handling non-normal expenditure distributions and adds to the understanding of how visitor segmentation can be utilized in an assessment of event impacts.

scholarly journals Economic Evaluation of Investments in Airports: Recent Developments

2021 ◽  
Vol 12 (1) ◽  
pp. 85-121
Author(s):  
Peter Forsyth ◽  
Hans-Martin Niemeier ◽  
Eric Tchouamou Njoya
Keyword(s):  
Computable General Equilibrium ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Policy Issue ◽  
Cost Benefit ◽  
Economic Benefits ◽  
Full Potential ◽  
Data Intensive ◽  
Cge Models ◽  
Recent Developments

AbstractThe problem of how to evaluate investments in airports has now been studied for over 50 years. This paper analyzes the use of different methods like cost–benefit analysis (CBA), economic impact analysis (EIA), and computable general equilibrium (CGE) models to address the question. It assesses the strength and weaknesses of each method, and it discusses which methods have been used in different countries. The paper argues that the CBA approach and the newer CGE modeling approach address the policy issue well and that both methods are appropriate, although improvements are possible, especially in the newer aspects of evaluation. Furthermore, more data intensive CGE models are able to analyze broader aspects of the evaluation question for which CBA has had difficulty. EIA does not address the problem satisfactorily, and it misleads air transport policy. But this evaluation contrasts sharply with practice. EIA has been extensively used to decide on airport investment. CGE approaches are very promising, though further work is needed for them to reach their full potential. This paper pays particular attention to the relationship between CBA and CGE in airport investment evaluation and also the possible role of wider economic benefits (WEBs) of aviation in evaluation.

Bargaining, Networks, and Management of Municipal Development Subsidies

2011 ◽  
Vol 42 (4) ◽  
pp. 481-497 ◽  
Author(s):  
Hyunsang Ha ◽  
Richard C. Feiock
Keyword(s):  
Economic Development ◽  
Political Institutions ◽  
Local Governments ◽  
Bargaining Power ◽  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Organizational Networks ◽  
Control Mechanisms ◽  
Fiscal Impact

This article investigates why cities use fiscal analyses such as cost–benefit analysis and/or fiscal impact analysis to manage offers of economic development incentives to business. We advance an approach to understanding economic development subsidies and control mechanisms that integrate political bargaining and network theories. Municipal bargaining power, institutional incentives, and organizational networks are hypothesized to influence development subsidy decisions. The results confirm that local governments’ bargaining power and political institutions influence the degree to which cities use fiscal analyses. In addition, public/private organizational networks that bridge public and private sectors by linking quasigovernmental organizations and local governments increase information and credibility thus leading to greater use of fiscal analyses.

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