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

Author

Listed:
  • Brad R. Humphreys
  • Bruce K. Johnson
  • Daniel S. Mason
  • John C. Whitehead

Abstract

We estimate Canadians’ willingness to pay (WTP) for success by Team Canada in the 2010 Winter Olympics. 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 (CVM) study using data from nationally representative surveys before and after the Games suggest that Own the Podium generated intangible benefits of between 3 and 5 times its cost. The aggregate value of the intangible benefits generated by the program was between $719 million and $3.4 billion. Key Words: Olympic Games, contingent valuation method, willingness to pay

Suggested Citation

  • Brad R. Humphreys & Bruce K. Johnson & Daniel S. Mason & John C. Whitehead, 2011. "Estimating the Value of Medal Success at the 2010 Winter Olympic Games," Working Papers 11-20, Department of Economics, Appalachian State University.
    • Handle: RePEc:apl:wpaper:11-20
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    File URL: http://econ.appstate.edu/RePEc/pdf/wp1120.pdf
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    References listed on IDEAS

    as
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    11. Bruce K. Johnson & John C. Whitehead & Daniel S. Mason & Gordon J. Walker, 2007. "Willingness To Pay For Amateur Sport And Recreation Programs," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 553-564, October.
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    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:

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    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    9. 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.
    10. 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.
    11. 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.

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    More about this item

    Keywords

    olympic games; contingent valuation method; willingness to pay;
    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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