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

Author

Listed:
  • 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.

Suggested Citation

  • Humphreys, Brad & Johnson, Bruce & Mason, Daniel & Whitehead, John, 2011. "Estimating the Value of Medal Success at the 2010 Winter Olympic Games," Working Papers 2011-20, University of Alberta, Department of Economics.
    • Handle: RePEc:ris:albaec:2011_020
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    File URL: https://sites.ualberta.ca/~econwps/2011/wp2011-20.pdf
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    References listed on IDEAS

    as
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The CVM has conquered the University of Alberta webpage
      by John Whitehead in Environmental Economics on 2011-12-07 19:32:19

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    Cited by:

    1. Pamela Wicker & John C. Whitehead & Bruce K. Johnson & Daniel S. Mason, 2016. "Willingness-To-Pay For Sporting Success Of Football Bundesliga Teams," Contemporary Economic Policy, Western Economic Association International, vol. 34(3), pages 446-462, July.
    2. Pasquale Lucio Scandizzo & Maria Rita Pierleoni, 2018. "Assessing The Olympic Games: The Economic Impact And Beyond," Journal of Economic Surveys, Wiley Blackwell, vol. 32(3), pages 649-682, July.
    3. Bernd Frick & Pamela Wicker, 2018. "The Monetary Value of Having a First Division Bundesliga Team to Local Residents," Schmalenbach Business Review, Springer;Schmalenbach-Gesellschaft, vol. 70(1), pages 63-103, February.
    4. Tim Pawlowski & Paul Downward & Simona Rasciute, 2014. "Does national pride from international sporting success contribute to well-being? An international investigation," Sport Management Review, Taylor & Francis Journals, vol. 17(2), pages 121-132, April.
    5. J. Lucy Lee & Jeffrey D. James, 2015. "Assessing sport brand value through use of the contingent valuation method," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 3(6), pages 33-44, December.
    6. Ana Condeço-Melhorado & Inmaculada Mohino & Borja Moya-Gómez & Juan Carlos García-Palomares, 2020. "The Rio Olympic Games: A Look into City Dynamics through the Lens of Twitter Data," Sustainability, MDPI, vol. 12(17), pages 1-16, August.
    7. Pamela Wicker & John C Whitehead & Daniel S Mason & Bruce K Johnson, 2017. "Public support for hosting the Olympic Summer Games in Germany: The CVM approach," Urban Studies, Urban Studies Journal Limited, vol. 54(15), pages 3597-3614, November.
    8. Brad R. Humphreys & Bruce K. Johnson & John C. Whitehead, 2020. "Validity and reliability of contingent valuation and life satisfaction measures of welfare: An application to the value of national Olympic success," Southern Economic Journal, John Wiley & Sons, vol. 87(1), pages 316-330, July.
    9. O. Ashton Morgan & John C. Whitehead, 2018. "Willingness to Pay for Soccer Player Development in the United States," Journal of Sports Economics, , vol. 19(2), pages 279-296, February.
    10. Moital, Miguel & Bain, Amy & Thomas, Harriet, 2019. "Summary of cognitive, affective, and behavioural outcomes of consuming prestigious sports events," Sport Management Review, Elsevier, vol. 22(5), pages 652-666.
    11. Dilger, Alexander & Bakkenbüll, Linn-Brit, 2016. "Zahlungsbereitschaften für deutsche Erfolge bei den Olympischen Winterspielen 2014 in Sotschi und die Austragung Olympischer Spiele in Deutschland," Discussion Papers of the Institute for Organisational Economics 05/2016, University of Münster, Institute for Organisational Economics.

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    More about this item

    Keywords

    Olympic Games; willingness to pay; elite athletics; CVM;
    All these keywords.

    JEL classification:

    • H49 - Public Economics - - Publicly Provided Goods - - - Other
    • H59 - Public Economics - - National Government Expenditures and Related Policies - - - Other
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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