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Contingent valuation of a classic cycling race

Author

Listed:
  • Vekeman, Andy

    (Hogeschool-Universiteit Brussel (HUB))

  • Meulders, Michel

    (Hogeschool-Universiteit Brussel (HUB))

  • Praet, Alain

    (Hogeschool-Universiteit Brussel (HUB))

  • colpaert, Jan

    (Hogeschool-Universiteit Brussel (HUB))

  • Van Puyenbroeck, Tom

    (Hogeschool-Universiteit Brussel (HUB))

Abstract

We provide a contingent valuation of a major cycling event, viz. the Tour of Flanders. Starting from survey data, we use a Bayesian method to derive the distribution of Flemish individuals’ willingness to pay for the event. 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 17.6 million euro.

Suggested Citation

  • Vekeman, Andy & Meulders, Michel & Praet, Alain & colpaert, Jan & Van Puyenbroeck, Tom, 2012. "Contingent valuation of a classic cycling race," Working Papers 2012/06, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
    • Handle: RePEc:hub:wpecon:201206
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    File URL: https://lirias.hubrussel.be/bitstream/123456789/6187/1/12HRP06.pdf
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    Cited by:

    1. de Boer, Willem I.J. & Koning, Ruud H. & Mierau, Jochen O., 2017. "Ex-ante and ex-post willingness-to-pay for hosting a major cycling event," Research Report 17013-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    2. Willem I. J. de Boer & Ruud H. Koning & Jochen O. Mierau, 2019. "Ex Ante and Ex Post Willingness to Pay for Hosting a Large International Sport Event," Journal of Sports Economics, , vol. 20(2), pages 159-176, February.

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