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The Contingent Valuation Method in assessing the value of sport’s stadium in developing nations. The case of Poland

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  • Robert, Ruszkowski

Abstract

The European Football Championship (Euro 2012) organized in Poland became the pretext for a number of infrastructural changes at a total cost of 100 billion PLN2012. Such high expenditure makes the Polish event the most expensive among events of this magnitude. The fact that these changes were 100% financed by public means raises the question whether these funds were used in a substantiated way. Therefore, the aim of this study is to estimate the willingness-to-pay (WTP) among the community of the Pomeranian region, in connection with intangible benefits and costs stemming from hosting the Euro 2012 in Gdansk. A survey conducted among 407 respondents was the source of information. The results of the study show that the average value of WTPbenefit for the whole sample was 45,72 PLN2012 and WTPcost was 3,86 PLN2012. The aggregate values for the whole region was in terms of benefits and costs 396,6 million PLN2012 and 33,49 million PLN2012 respectively. The results thus confirm the existence of both intangible benefits and costs associated with the event. However, it should be noted that the importance of the net benefits is insignificant and does not compensate for the massive expenditure from public sources.

Suggested Citation

  • Robert, Ruszkowski, 2017. "The Contingent Valuation Method in assessing the value of sport’s stadium in developing nations. The case of Poland," MPRA Paper 80581, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:80581
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    File URL: https://mpra.ub.uni-muenchen.de/80581/1/MPRA_paper_80581.pdf
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    References listed on IDEAS

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    1. Harris, Charles C. & Driver, B. L. & McLaughlin, William J., 1989. "Improving the contingent valuation method: A psychological perspective," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 213-229, November.
    2. Fourie, Johan & Santana-Gallego, María, 2011. "The impact of mega-sport events on tourist arrivals," Tourism Management, Elsevier, vol. 32(6), pages 1364-1370.
    3. Dominika Dziegielewska & Robert Mendelsohn, 2007. "Does “No” mean “No”? A protest methodology," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 38(1), pages 71-87, September.
    4. Pamela Wicker, 2011. "Willingness-to-Pay in Non-Profit Sports Clubs," International Journal of Sport Finance, Fitness Information Technology, vol. 6(2), pages 155-169, May.
    5. Matthew Walker & Michael J. Mondello, 2007. "Moving Beyond Economic Impact: A Closer Look at the Contingent Valuation Method," International Journal of Sport Finance, Fitness Information Technology, vol. 2(3), pages 149-160, August.
    6. Bruce K. Johnson & John C. Whitehead & Daniel S. Mason & Gordon J. Walker, 2012. "Willingness to Pay for Downtown Public Goods Generated by Large, Sports-Anchored Development Projects: The CVM Approach," Working Papers 12-01, Department of Economics, Appalachian State University.
    7. Wicker, Pamela & Prinz, Joachim & von Hanau, Tassilo, 2012. "Estimating the value of national sporting success," Sport Management Review, Elsevier, vol. 15(2), pages 200-210.
    8. Zawadzki, Krystian, 2013. "Euro 2012 economic impact on host cities in Poland," MPRA Paper 64522, University Library of Munich, Germany.
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    More about this item

    Keywords

    Mega sport event; Football arena; CVM; WTP;

    JEL classification:

    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods

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