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Identification. sympathy and willingness to pay


  • José Manuel Sánchez Santos

    (Department of Applied Economy, Faculty of Economics and Business Studies, University of A Coruña, A Coruña, Spain)

  • José Atilano Pena López

    (Department of Applied Economy, Faculty of Economics and Business Studies, University of A Coruña, A Coruña, Spain)


The present study analyzes the effects of sympathy and identification between sports fans and clubs in the recognition of willingness to pay in favor of these organizations. With this objective, after reconsidering the diverse approaches to this type of bonds, we propose in the first part a theoretical model that considers the psychosociological factors which affect the willingness to pay for this kind of goods and services that have characteristics similar to public goods. This model allows us to extract two hypotheses on the interrelation between sympathy, income and willingness to pay. In the second part, we put these hypotheses to the test. The results establish, as predicted, that identification or sympathy with a club constitutes an important causal factor in its valuation, although income has no causal relation with this. Both can explain some irregularities found within the contingent valuation method.

Suggested Citation

  • José Manuel Sánchez Santos & José Atilano Pena López, 2012. "Identification. sympathy and willingness to pay," Cuadernos de Economía - Spanish Journal of Economics and Finance, ELSEVIER, vol. 35(97), pages 33-42, Abril.
  • Handle: RePEc:cud:journl:v:35:y:2012:i:97:p:33-42

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    References listed on IDEAS

    1. Froot, Kenneth A. & Ito, Takatoshi, 1989. "On the consistency of short-run and long-run exchange rate expectations," Journal of International Money and Finance, Elsevier, vol. 8(4), pages 487-510, December.
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    4. Hafer, R W & Hein, Scott E, 1985. "On the Accuracy of Time-Series, Interest Rate, and Survey Forecasts of Inflation," The Journal of Business, University of Chicago Press, vol. 58(4), pages 377-398, October.
    5. Frankel, Jeffrey A. & Froot, Kenneth A., 1987. "Short-term and long-term expectations of the yen/dollar exchange rate: Evidence from survey data," Journal of the Japanese and International Economies, Elsevier, vol. 1(3), pages 249-274, September.
    6. Ang, Andrew & Bekaert, Geert & Wei, Min, 2007. "Do macro variables, asset markets, or surveys forecast inflation better?," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1163-1212, May.
    7. Christopher D. Carroll, 2003. "Macroeconomic Expectations of Households and Professional Forecasters," The Quarterly Journal of Economics, Oxford University Press, vol. 118(1), pages 269-298.
    8. Christopher A Sims, 2009. "Inflation expectations, uncertainty and monetary policy," BIS Working Papers 275, Bank for International Settlements.
    9. Lloyd B. Thomas, 1999. "Survey Measures of Expected U.S. Inflation," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 125-144, Fall.
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    More about this item


    Sympathy; Willingness to pay; Contingent Valuation; Demand for sports;

    JEL classification:

    • D3 - Microeconomics - - Distribution
    • Z19 - Other Special Topics - - Cultural Economics - - - Other
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification


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