Psychic Income and Intention to Attend Games, Intention to Purchase Licensed Merchandise, and Life Satisfaction: 2017 Taipei Universiade

Hosting international sporting events brings various benefits to the host city, including direct and indirect economic benefits. However, few studies have explored the association between psychic income and marketing variables and life satisfaction. This study examined whether the perceived psychic income of the 2017 Taipei Universiade predicted intention to attend games, intention to purchase licensed merchandise, and life satisfaction. Convenience sampling was used to recruit 1,102 Taipei residents aged above 20 years in the city. The research sample was randomly split into an analysis sample and a validation sample to test the research hypotheses and ensure generalizability. Confirmatory factor analysis and hierarchical linear regression were performed for data analysis. The research findings indicated that perceived psychic income positively predicted intention to purchase licensed products, intention to attend the sport events, and life satisfaction. The results of this study have both academic and practical implications.

Development of a scale measuring the psychic income associated with hosting the Olympic Games

Purpose The purpose of this paper is to develop a scale to measure the legacy of psychic income associated with the Olympic Games. Design/methodology/approach Using the 2008 Beijing Games as an example, data were collected from Beijing residents through structured questionnaires. A scale of measuring psychic income (SPI) was developed through conducting a confirmatory factor analysis (CFA) based on a sample of 375. Findings In the CFA estimation, a seven-factor SPI was identified with 24 pertinent items retained. This seven-factor model displays good fit to the data, construct validity, and reliability. Originality/value Despite the importance of psychic income widely recognized in the existing literature, there has been a lack of valid scales to measure major sports events psychic income in general and Olympic psychic income in particular. This paper develops a multidimensional scale from the host community perspective, which can provide academics and local organizers with a reliable and valid tool to assess Olympic psychic income.

Early and Contemporary American Art as Investment Vehicles

American art, both pre-1950 art and contemporary works, are examined as investment vehicles in this chapter. This study, unlike others, factors in both buyer’s and seller’s premiums charged by the auction house. These transaction costs must be considered when calculating actual returns from utilizing art at auction as an investment. We find that, under various assumptions of these transaction expenses, early American art (pre-1950) provides a modest return of between a negative 3-plus and a positive 2 percent. Contemporary American art, for our sample, yields a far higher return in the range of 18 percent and above. However, contemporary art carries a higher risk than holding a market portfolio, although quite naturally the return must include psychic income. This chapter, moreover, provides clear evidence that early and contemporary American art are two distinct markets.