The Economic Concept of Willingness to Pay in a Sport Environment
The Economic Concept of Willingness to Pay in a Sport Environment

Author(s): Martin Vyroubal
Subject(s): Business Economy / Management, Management and complex organizations, Sports Studies
Published by: Masarykova univerzita nakladatelství
Keywords: willingness-to-pay; contingent valuation method; sport financing;
Summary/Abstract: This paper explores the economic concept of willingness to pay (WTP) in a sporting environment. The paper introduces the specifics of the sports industry, provides insights into current research, and presents methods used in willingness to pay research in scholarly articles, with the greatest emphasis on the contingent valuation method, which is widely used in willingness to pay research. The article is compiled in a research manner and aims to provide an overview of the ways in which research could be conducted that would be useful for finding alternative ways of financing the sports sector, especially in the Czech Republic, where not many similar articles on the topic have been published.

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