Valuing elite sport success using the contingent valuation method

A transnational study

Hiroaki Funahashi, Simon Shibli, Popi Sotiriadou, Jarmo Mäkinen, Bake Dijk, Veerle De Bosscher

Research output: Contribution to journalArticle

Abstract

This study presents an application of the contingent valuation method for valuing medal winning success on a transnational basis to test whether more medals won equates to more utility. To achieve this aim, a research project was set up in five countries: Belgium, Finland, Japan, the Netherlands, and the United Kingdom. Respondents were asked to state their willingness to pay to avoid a large-scale reduction in government funding for elite sport, resulting in a 50% reduction in medals won at the Tokyo 2020 Olympics. Results show that willingness to pay for avoiding reduced medal winning performance differs significantly between countries with the more successful countries reporting higher willingness to pay values than the relatively less successful countries. This finding indicates that more medals won appears to be linked with more utility. The validity tests on the regression models were generally consistent with the theoretical expectations. Implications are discussed in terms of how governments can promote elite sport development while being conscious of the public's acceptability of such investment.

Original languageEnglish
JournalSport Management Review
DOIs
Publication statusPublished - 2019 Jan 1

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contingent valuation
willingness to pay
sport
Olympic Games
method
Contingent valuation method
Elites
Willingness-to-pay
test

Keywords

  • international comparison
  • monetary value
  • Olympic success
  • welfare economics
  • willingness to pay

ASJC Scopus subject areas

  • Business and International Management
  • Tourism, Leisure and Hospitality Management
  • Strategy and Management
  • Organizational Behavior and Human Resource Management
  • Management Science and Operations Research
  • Marketing

Cite this

Valuing elite sport success using the contingent valuation method : A transnational study. / Funahashi, Hiroaki; Shibli, Simon; Sotiriadou, Popi; Mäkinen, Jarmo; Dijk, Bake; De Bosscher, Veerle.

In: Sport Management Review, 01.01.2019.

Research output: Contribution to journalArticle

Funahashi, Hiroaki ; Shibli, Simon ; Sotiriadou, Popi ; Mäkinen, Jarmo ; Dijk, Bake ; De Bosscher, Veerle. / Valuing elite sport success using the contingent valuation method : A transnational study. In: Sport Management Review. 2019.
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