This study shows that fans and people living in the region of 28 Football Bundesliga teams from all three divisions are willing to support their team financially. Survey respondents were asked for their willingness-to-pay to avoid a negative outcome (e.g., relegation) and to achieve a positive outcome (e.g., promotion). Fan bonds are applied as an alternative payment vehicle within the contingent valuation method. The results show that different factors affect the decision to support the team and the actual amount of willingness-to-pay—for attendees and nonattendees. Public goods are particularly relevant for reporting a positive willingness-to-pay. (JEL Z23, L83, H41)
Wicker, P., Whitehead, J. C., Johnson, B. K. and Mason, D. S. (2016), WILLINGNESS-TO-PAY FOR SPORTING SUCCESS OF FOOTBALL BUNDESLIGA TEAMS. Contemporary Economic Policy, 34: 446–462. doi: 10.1111/coep.12148
One of my favorite quotes from the Western meetings is that "the CVM is like Wal Mart...." I forget the rest but it kind of says it all, right?
*And athlete, here I am draining a three in the High Country Senior Games 3v3 basketball on Wednesday night. The without-their-big-man High Country 50+ lost to the Ashe Panthers 55+ by a handful of points. Three of us fouled out (huh?) and we finished the game with only two guys on the court. You gotta have a big man in Senior Games.
Thirst for the liquor is booming around the world -- from the U.S. to developing countries like China -- pushing prices of older vintages through the roof, attracting savvy investors hoping to cash in and forcing distilleries to scramble to meet demand.
"The shortage of old and rare single malt ... has already started, and it's going to get worse," said Rickesh Kishnani, who launched the world's first whisky investment fund.
The problem is that age-labeled single malt Scotch has always been, by design, a limited commodity. Distillers produce a set amount in a given year with pretty much zero visibility about what demand will be like when the bottles start hitting venerable ages.
The industry woke up to the current boom too late. In the late 1980s, many distilleries were going out of business, and just a decade ago, Scotch exports were stagnating.
More capacity is being added now, but the bad news for whisky drinkers is the shortage could last another 10 to 15 years, experts say.
For the record, I am a Bourbon drinker. Always have been (when I'm not drinking beer)--since, well, I'll keep that to myself in case my kids are reading.
And I like to keep it simple: Jim Beam and Jack Daniels do just fine. Especially when mixed with ginger ale or Coke. Sure I will drink the niche-stuff (small batch) if someone else is buying--Knob Creek is yummy.
And yes, I know Jack Daniels is technically a Tennessee whiskey and not Bourbon, but that difference is the same as the difference between 'soda' and 'pop.' Same product, different name.
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Don't believe what they're saying
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... the Environmental Economics blog ... is now the default homepage on my browser (but then again, I guess I am a wonk -- a word I learned on the E.E. blog). That is a very nice service to the profession. -- Anonymous
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