... that I'm a very famous sports economist*:
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.
