An examination into the factors that influence consumers’ perceptions of value
Recent trends in ticketing, such as dynamic ticket pricing, indicate a fundamental shift towards demand-based pricing strategies. As such, research is needed to understand the factors that may influence the price that consumers are willing to pay for tickets. Using the contingent valuation method (CVM), the current study examined the value that consumers placed on a ticket to a National Basketball Association game. Previous CVM research suggests that valuations differ based on whether the participant is on the buy side or the sell side of the transaction. Therefore, the current study examined the difference between buyer and seller valuations in addition to identifying factors that influenced these valuations. Results indicated a strong difference between buyer and seller valuations, which is consistent with previous CVM studies. Further, the factors that influenced these valuations, including the printed price on the ticket, also differed based on whether the participant was buying or selling the ticket.
Volume (Year): 14 (2011)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/716936/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/journaldescription.cws_home/716936/bibliographic|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Brown, Thomas C. & Gregory, Robin, 1999. "Why the WTA-WTP disparity matters," Ecological Economics, Elsevier, vol. 28(3), pages 323-335, March.
- James Murphy & P. Allen & Thomas Stevens & Darryl Weatherhead, 2005. "A Meta-analysis of Hypothetical Bias in Stated Preference Valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 30(3), pages 313-325, 03.
- Falter, J.-M. & Perignon, C., 2000.
"Demand for Football and Intra-Match Winning Probability: an Essay on the Glorious Uncertainty of Sports,"
Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva
2000.15, Institut d'Economie et Econométrie, Université de Genève.
- Jean-Marc Falter & Christophe Perignon, 2000. "Demand for football and intramatch winning probability: an essay on the glorious uncertainty of sports," Applied Economics, Taylor & Francis Journals, vol. 32(13), pages 1757-1765.
- Richard Carson & Nicholas Flores & Norman Meade, 2001.
"Contingent Valuation: Controversies and Evidence,"
Environmental & Resource Economics,
European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
- Carson, Richard T & Flores, Nicholas A, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series qt75k752s7, Department of Economics, UC San Diego.
- Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-47, June.
- Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
- Donald Green & Karen Jacowitz & Daniel Kahneman & Daniel McFadden, 1995.
"Referendum Contingent Valuation, Anchoring, and Willingness to Pay for Public Goods,"
_010, University of California at Berkeley, Econometrics Laboratory Software Archive.
- Green, Donald & Jacowitz, Karen E. & Kahneman, Daniel & McFadden, Daniel, 1998. "Referendum contingent valuation, anchoring, and willingness to pay for public goods," Resource and Energy Economics, Elsevier, vol. 20(2), pages 85-116, June.
- Kahneman, Daniel & Ritov, Ilana & Schkade, David A, 1999. "Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 203-35, December.
- Alan, Morse & Stephen, Shapiro & Chad, McEvoy & Daniel, Rascher, 2008.
"The Effects of Roster Turnover on Demand in the National Basketball Association,"
25828, University Library of Munich, Germany.
- Alan L. Morse & Stephen L. Shapiro & Chad D. McEvoy & Daniel A. Rascher, 2008. "The Effects of Roster Turnover on Demand in the National Basketball Association," International Journal of Sport Finance, Fitness Information Technology, vol. 3(1), pages 8-18, February.
- Victor Matheson, 2006. "The effects of labour strikes on consumer demand in professional sports: revisited," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1173-1179.
- Jeffery Borland, 2003. "Demand for Sport," Oxford Review of Economic Policy, Oxford University Press, vol. 19(4), pages 478-502, Winter.
- Jack L. Knetsch & J. A. Sinden, 1984. "Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value," The Quarterly Journal of Economics, Oxford University Press, vol. 99(3), pages 507-521.
- Steffen Huck & Georg Kirchsteiger & Joerg Oechssler, 1997.
"Learning to Like What You Have - Explaining the Endowment Effect,"
Game Theory and Information
9702001, EconWPA, revised 15 May 1997.
- Steffen Huck & Georg Kirchsteiger & Jörg Oechssler, 2005. "Learning to like what you have - explaining the endowment effect," Economic Journal, Royal Economic Society, vol. 115(505), pages 689-702, 07.
- Huck, Steffen & Kirchsteiger, Georg & Oechssler, Jörg, 1997. "Learning to like what you have: Explaining the endowment effect," SFB 373 Discussion Papers 1997,38, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- Steffen Huck & Georg Kirchsteiger & Jörg Oechssler, 2003. "Learning to Like What You Have - Explaining the Endowment Effect," Bonn Econ Discussion Papers bgse5_2003, University of Bonn, Germany.
- Don L. Coursey & John L. Hovis & William D. Schulze, 1987. "The Disparity Between Willingness to Accept and Willingness to Pay Measures of Value," The Quarterly Journal of Economics, Oxford University Press, vol. 102(3), pages 679-690.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-48, December.
- Leo Kahane & Stephen Shmanske, 1997. "Team roster turnover and attendance in major league baseball," Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 425-431.
- Carmon, Ziv & Ariely, Dan, 2000. " Focusing on the Forgone: How Value Can Appear So Different to Buyers and Sellers," Journal of Consumer Research, Oxford University Press, vol. 27(3), pages 360-70, December.
- Horowitz, John K. & McConnell, K. E., 2003. "Willingness to accept, willingness to pay and the income effect," Journal of Economic Behavior & Organization, Elsevier, vol. 51(4), pages 537-545, August.
- Frykblom, Peter, 1997. "Hypothetical Question Modes and Real Willingness to Pay," Journal of Environmental Economics and Management, Elsevier, vol. 34(3), pages 275-287, November.
- Willig, Robert D, 1976. "Consumer's Surplus without Apology," American Economic Review, American Economic Association, vol. 66(4), pages 589-97, September.
- Funk, Daniel C. & James, Jeff, 2001. "The Psychological Continuum Model: A Conceptual Framework for Understanding an Individual's Psychological Connection to Sport," Sport Management Review, Elsevier, vol. 4(2), pages 119-150, November.
- Horowitz, John K. & McConnell, Kenneth E., 2002. "A Review of WTA/WTP Studies," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 426-447, November.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-41, September.
- Mayhew, Glenn E & Winer, Russell S, 1992. " An Empirical Analysis of Internal and External Reference Prices Using Scanner Data," Journal of Consumer Research, Oxford University Press, vol. 19(1), pages 62-70, June.
- Gurumurthy Kalyanaram & Russell S. Winer, 1995. "Empirical Generalizations from Reference Price Research," Marketing Science, INFORMS, vol. 14(3_supplem), pages G161-G169.
When requesting a correction, please mention this item's handle: RePEc:eee:spomar:v:14:y:2011:i:4:p:389-398. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.