Contingent valuation of a classic cycling race
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.
Year of publication: |
2012-01
|
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Authors: | Vekeman, Andy ; Meulders, Michel ; Praet, Alain ; colpaert, Jan ; Van Puyenbroeck, Tom |
Institutions: | Faculteit Economie en Bedrijfswetenschappen, Hogeschool-Universiteit Brussel (HUBrussel) |
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