The Monetary Value of Winter Sport Services in the European Alps
AbstractConsidering the increasing stress of competition in winter sports, e.g., caused by the increasing popularity of sun holidays in the winter season or recently developed new ski areas, cable-car companies have to optimize their price-performance ratio with a modified marketing management approach. For most decisions regarding the marketing mix (e.g. the price calculation of new supply attributes), the knowledge about the monetary value of the different single attributes a consumer receives when purchasing a ski-lift ticket is indispensable. Since economics in general has a certain value for practical decision-taking in leisure management we follow other authors and transfer the economic concept of ‘hedonic prices’ to the field of empirical leisure research to derive the monetary value of some core service attributes in winter sports. The study is based on data of n=260 ski areas in five countries of the European Alps (Austria, France, Germany, Italy, and Switzerland). While the developed hedonic price models show rather high-variance explanatory power, most of the estimated attribute prices differ significantly between the countries studied. Possible implications for the price and product policies of cable-car companies are presented and discussed.
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Bibliographic InfoPaper provided by International Association of Sports Economists & North American Association of Sports Economists in its series Working Papers with number 1003.
Length: 21 pages
Date of creation: Oct 2010
Date of revision:
Winter sports; hedonic approach; monetary value; ski; service; price;
Find related papers by JEL classification:
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-16 (All new papers)
- NEP-EUR-2010-10-16 (Microeconomic European Issues)
- NEP-MKT-2010-10-16 (Marketing)
- NEP-SPO-2010-10-16 (Sports & Economics)
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- Sergio Alessandrini, 2013.
"Quality of Ski Resorts and Competition Between the Emilian Apennines and Altipiani Trentini. an Estimate of the Hedonic Price,"
Review of Economic Analysis,
Rimini Centre for Economic Analysis, vol. 5(1), pages 42-69, June.
- Alessandrini, Sergio, 2012. "Quality of ski resorts and competition between the Emilian Apennines and Altipiani Trentini. An estimate of the hedonic price," MPRA Paper 37237, University Library of Munich, Germany, revised 02 Feb 2012.
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