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The Consumer Surplus and Economic Impact of a Participatory Micro-Event: The Beech Mountain Metric

In: The Economic Impact of Sports Facilities, Franchises, and Events

Author

Listed:
  • Peter Groothuis

    (Appalachian State University)

  • Kurt Rotthoff

    (Seton Hall University)

  • John Whitehead

    (Appalachian State University)

Abstract

We measure both the economic impact of a micro-event on the local economy and the consumer surplus benefits to participants using stated preference methods. We focus on a local participatory bike race called the “Beech Mountain Metric” (BMM), an amateur road bicycle event. We find that the economic impacts of the BMM declined from $301,000 in 2014 to $185,000 in 2016 as the event lost popularity. The consumer surplus to participants fell from $11,000 to $6000. The consumer surplus benefits are most likely relatively low in magnitude because there are many bike races in the region to choose from including Blood Sweat and Gears and the Blue Ridge Brutal, both more popular races. Considering the stated preference model, we replicate Whitehead and Wicker (Int J Tour Res 21:180–186, 2019) using the willingness-to-travel approach. Using an intensity of preference correction can mitigate for hypothetical bias, but using only individuals who are “definitely sure” about return visitation will overcorrect the problem. This result suggests that the definitely yes and the sum of the probably and definitely yes probabilities provide a useful estimate of the range of return visitation that could be used in micro-event planning.

Suggested Citation

  • Peter Groothuis & Kurt Rotthoff & John Whitehead, 2023. "The Consumer Surplus and Economic Impact of a Participatory Micro-Event: The Beech Mountain Metric," Sports Economics, Management, and Policy, in: Victor A. Matheson & Robert Baumann (ed.), The Economic Impact of Sports Facilities, Franchises, and Events, pages 89-99, Springer.
    • Handle: RePEc:spr:semchp:978-3-031-39248-1_6
    DOI: 10.1007/978-3-031-39248-1_6
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    Cited by:

    1. John C. Whitehead & Pamela Wicker, 2024. "The effect of event quality on participants’ intention to revisit a sport event: Monetary valuation and mitigation of hypothetical bias," Working Papers 24-14, Department of Economics, Appalachian State University.

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