Monetary valuation of non-market goods and services: a review of conceptual approaches and empirical applications in sports

Orlowski, Johannes; Wicker, Pamela

doi:10.1080/16184742.2018.1535609

Cited by 40 publications

(64 citation statements)

References 155 publications

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“…Accordingly, a growing body of literature has evolved that evaluates the intangible effects of elite sport. Within this literature, a number of valuation approaches have emerged, which assign monetary values to these intangible effects, with the contingent valuation method (CVM) representing the most frequently-applied approach to the valuation of elite sport development and sporting success (for an overview, see [14]). CVM is a survey-based method that presents respondents with a hypothetical scenario and asks for their willingness-to-pay (WTP) for the scenario to occur or to be avoided, or their willingness-to-accept (WTA) the occurrence of the scenario [15,16].…”

Section: Introductionmentioning

confidence: 99%

Sustainable Financing of Elite Athlete Development: An Empirical Analysis of Winter Sports in Austria

Wicker

Frick

2020

Sustainability

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This study examines the value of professional winter sports to the Austrian resident population in the context of three major sporting events (the 2017 World Championships in Alpine Skiing, the 2018 Winter Olympics, and the 2019 World Championships in Nordic Skiing). In nationwide population surveys (n = 2289), the contingent valuation method was employed, and the respondents were presented with two scenarios asking for their willingness-to-pay for live broadcasts and long-term athlete development. The aggregate willingness-to-pay amounted to €42 million (for live broadcasts) and about €800 million (for athlete development). However, only about 20% of the residents expressed a positive willingness-to-pay. The respondents’ willingness-to-pay is not only determined by well-studied factors like consumption capital, intangible factors, and socio-demographics, but also by life satisfaction. The willingness-to-pay for live broadcasts is comparably higher for alpine skiing, while the willingness-to-pay for athlete development is higher for Olympic winter sports athletes. The findings have implications for sport policy and sport finance, highlighting the challenge of turning public sport consumption into a willingness to contribute financially to sustainable athlete development.

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Section: Introductionmentioning

confidence: 99%

Sustainable Financing of Elite Athlete Development: An Empirical Analysis of Winter Sports in Austria

Wicker

Frick

2020

Sustainability

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“…For some, there is an ideological incongruence in assigning a monetary value to non-market goods (Arvidson et al, 2013;Millar & Hall, 2013). Many objections derive from the viewpoint that individual and social values are more important for human wellbeing than economic values, and as such are simply nontradeable (Orlowski & Wicker, 2019). However, social impacts are not valueless, and indeed are often the principle justifying public subsidies.…”

Section: Discussionmentioning

confidence: 99%

“…SROI is about value not money. Money is simply a common readily available unit and as such is a useful and widely accepted way of conveying value (Nicholls et al, 2012;Orlowski & Wicker, 2019).…”

Section: Discussionmentioning

confidence: 99%

“…They were valued using a willingness-to-pay (WTP) approach. WTP is an established valuation approach in economics used for estimating the amount that individuals are prepared to pay to secure a good or avoid something undesirable (such as poor health) (Orlowski & Wicker, 2019). Benefits to community (health care savings) were identified and measured using the method developed by Fujiwara et al (2014b) for measuring non-market effects.…”

Section: Partmentioning

confidence: 99%

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Measuring the Social Return on Investment of community sport and leisure facilities

Davies

Taylor

Ramchandani

et al. 2020

Managing Sport and Leisure

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Rationale/Purpose: There is a growing demand from managers and policy makers for evidence on the wider impacts of sport and physical activity. This is driven by the need to demonstrate accountability for public expenditure and effectiveness in relation to public policy. The research presented in this paper addresses a gap in knowledge relating to the social impact of local sport and leisure facilities. Design/methodology/approach: A Social Return on Investment (SROI) framework was used to measure the impact of sport and physical activity across 12 community sport and leisure facilities in Sheffield. A range of methods were used to measure general participation by regular visitors and a targeted therapeutic exercise programme for specific participants. Findings: The research found the social value of outcomes related to general and targeted participation were £21.67 m and £0.26 m, respectively, and that for every £1 spent a SROI of between £1.20 and £3.42 was generated. Practical implications: The research enables managers to identify the value of facilities beyond the financial indicators commonly used in performance management. Contribution: It contributes to knowledge on valuing the non-market benefits of sport. The research provides a methodological example of using SROI to measure the value of local sport and leisure facilities.

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“… Giulianotti (2015) critically reviews CSR in sports. With regard to valuation methods, whereas Orlowski and Wicker (2019) perform a critical analysis of monetary valuation research in sports, Keane et al (2019) critically analyse the methods used to quantify the social and economic value of active recreation and sports. Walzel et al (2018) critically review the literature on professional team sports organisations’ CSR and conclude that the approach is mostly qualitative.…”

Section: Introductionmentioning

confidence: 99%

The Sources of Knowledge of the Economic and Social Value in Sport Industry Research: A Co-citation Analysis

et al. 2020

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The aim of this article is to map the intellectual structure of scholarship on economic and social value in the sport industry. Given that bibliometric techniques are specially appropriate for identifying the intellectual structures of a field of knowledge and complement traditional literature reviews, a co-citation bibliometric analysis has been applied. This kind of analysis identifies networks of interconnections. Therefore, we aim to detect both the most and the least active research areas in this field, as well as their sub-disciplinary composition. There is an abundance of literature on sport efficiency and economic efficiency in the sport industry, our main conclusion is the identification of a literature gap in regard to social value in sport organisations, which is expected to be a research opportunity for scholars. This is in line with the lack of standardisation in the measurement for social value in sport organisations. In fact, similar to analysis undertaken in the past few decades of other industries with contributions to stakeholders and the multi-fiduciary theory of stakeholders, both the creation of social value indicators for sport entities and the empirical analysis of social efficiency in sport institutions, are identified and outlined as future areas of research. Therefore, this bibliometric analysis will contribute to determine the future challenges that this area of research will face in the following years so as to fill the literature gap identified.

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Monetary valuation of non-market goods and services: a review of conceptual approaches and empirical applications in sports

Cited by 40 publications

References 155 publications

Sustainable Financing of Elite Athlete Development: An Empirical Analysis of Winter Sports in Austria

Sustainable Financing of Elite Athlete Development: An Empirical Analysis of Winter Sports in Austria

Measuring the Social Return on Investment of community sport and leisure facilities

The Sources of Knowledge of the Economic and Social Value in Sport Industry Research: A Co-citation Analysis

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