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

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Author Info

  • Humphreys, Brad

    ()
    (University of Alberta, Department of Economics)

  • Johnson, Bruce

    ()
    (Centre College)

  • Mason, Daniel

    ()
    (University of Alberta Physical Education and Recreation)

  • Whitehead, John

    ()
    (Department of Economics, Appalachian State University)

Abstract

We estimate Canadians’ willingness to pay (WTP) for success by Team Canada in the 2010 Winter Olympic Games. 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 study using data from nationally representative surveys before and after the Vancouver Games suggest that Own the Podium generated intangible benefits equal to 2 to 4 times its cost. The aggregate value of the intangible benefits generated by the program was between $251 million and $3.4 billion.

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Bibliographic Info

Paper provided by University of Alberta, Department of Economics in its series Working Papers with number 2011-20.

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Length: 24 pages
Date of creation: 01 Nov 2011
Date of revision:
Handle: RePEc:ris:albaec:2011_020

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Keywords: Olympic Games; willingness to pay; elite athletics; CVM;

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  1. 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.
  2. Bernd Süssmuth & Malte Heyne & Wolfgang Maennig, 2009. "Induced Civic Pride and Integration," CESifo Working Paper Series 2582, CESifo Group Munich.
  3. W. Michael Hanemann, 1994. "Valuing the Environment through Contingent Valuation," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 19-43, Fall.
  4. 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.
  5. 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.
  6. 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.
  7. Bruce K. Johnson & John C. Whitehead & Daniel S. Mason & Gordon J. Walker, 2007. "Willingness To Pay For Amateur Sport And Recreation Programs," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 553-564, October.
  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. John C. Whitehead & Thomas J. Hoban, . "Testing for Temporal Reliability in Contingent Valuation with Time for Changes in Factors Affecting Demand," Working Papers 9613, East Carolina University, Department of Economics.
  10. 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.
  11. 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.
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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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