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Estimating the Value of Medal Success at the 2010 Winter Olympic Games

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  • Brad R. Humphreys
  • Bruce K. Johnson
  • Daniel S. Mason
  • John C. Whitehead

Abstract

We estimate Canadians’ willingness to pay (WTP) for success by Team Canada in the 2010 Winter Olympics. The Canadian government subsidized elite athletes in the run up to the 2010 Games through the Own the Podium program, which was designed to increase Canada’s medal count. WTP estimates from a contingent valuation method (CVM) study using data from nationally representative surveys before and after the Games suggest that Own the Podium generated intangible benefits of between 3 and 5 times its cost. The aggregate value of the intangible benefits generated by the program was between $719 million and $3.4 billion. Key Words: Olympic Games, contingent valuation method, willingness to pay

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File URL: http://econ.appstate.edu/RePEc/pdf/wp1120.pdf
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Paper provided by Department of Economics, Appalachian State University in its series Working Papers with number 11-20.

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Date of creation: 2011
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Handle: RePEc:apl:wpaper:11-20

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Postal: Thelma C. Raley Hall, Boone, North Carolina 28608
Phone: 828-262-2148
Fax: 828-262-6105
Web page: http://www.business.appstate.edu/departments/economics/
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  1. John C. Whitehead & Thomas J. Hoban, 1999. "Testing for Temporal Reliability in Contingent Valuation with Time for Changes in Factors Affecting Demand," Land Economics, University of Wisconsin Press, vol. 75(3), pages 453-465.
  2. Trudy Ann Cameron & Michelle D. James, 1986. "Efficient Estimation Methods for "Closed-Ended" Contingent Valuation Surveys," UCLA Economics Working Papers 404, UCLA Department of Economics.
  3. Kopp, Raymond & Smith, V. Kerry & Mitchell, Robert & Presser, Stanley & Ruud, Paul & Hanemann, W. Michael & Krosnick, Jon & Carson, Richard, 1995. "Temporal Reliability of Estimates from Contingent Valuation," Discussion Papers dp-95-37, Resources For the Future.
  4. BK. Johnson & JC. Whitehead, 2000. "Value of public goods from sports stadiums: the CVM approach," Contemporary Economic Policy, Western Economic Association International, vol. 18(1), pages 48-58, 01.
  5. Bruce K. Johnson & John C. Whitehead & Daniel S. Mason & Gordon J. Walker, 2006. "Willingness to Pay for Amateur Sport and Recreation Programs," Working Papers 06-14, Department of Economics, Appalachian State University.
  6. Bernd Süssmuth & Malte Heyne & Wolfgang Maennig, 2009. "Induced Civic Pride and Integration," CESifo Working Paper Series 2582, CESifo Group Munich.
  7. Trudy Ann Cameron, 1991. "Interval Estimates of Non-Market Resource Values from Referendum Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 67(4), pages 413-421.
  8. Bruce K. Johnson & Peter A. Groothuis & John C. Whitehead, 2000. "“The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach,”," Working Papers 0014, East Carolina University, Department of Economics.
  9. Aju J. Fenn & John R. Crooker, 2009. "Estimating Local Welfare Generated by an NFL Team under Credible Threat of Relocation," Southern Economic Journal, Southern Economic Association, vol. 76(1), pages 198-223, July.
  10. Bruce K. Johnson & Michael J. Mondello & John C. Whitehead, 2005. "What is the Value of Public Goods Generated by a National Football League Team: A CVM Approach," Working Papers 05-10, Department of Economics, Appalachian State University.
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  1. The CVM has conquered the University of Alberta webpage
    by John Whitehead in Environmental Economics on 2011-12-07 13:32:19

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