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Contingent Valuation of a Classic Cycling Race

Author

Listed:
  • Andy Vekeman
  • Michel Meulders
  • Alain Praet
  • Jan Colpaert
  • Tom Van Puyenbroeck

Abstract

We provide a contingent valuation of a major cycling event, namely the Tour of Flanders. Starting from survey data, we estimate several models with different assumptions about (1) the latent willingness to pay (WTP) distribution and (2) the change in WTP when responding to the follow-up question in a double-bounded dichotomous framework. We relate the individual figures to explanatory factors and find that people residing in the event’s core region as well as spectators have a higher valuation. Incorporating the spatial effect, we arrive at an estimated aggregate value of 24.3 million euro.

Suggested Citation

  • Andy Vekeman & Michel Meulders & Alain Praet & Jan Colpaert & Tom Van Puyenbroeck, 2015. "Contingent Valuation of a Classic Cycling Race," Journal of Sports Economics, , vol. 16(3), pages 268-294, April.
    • Handle: RePEc:sae:jospec:v:16:y:2015:i:3:p:268-294
    DOI: 10.1177/1527002513476040
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