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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), I. INTRODUCTION The most popular sport league in Europe is the German Football Bundesliga (soccer), averaging 43,484 fans per game during the 2013/2014 season, even greater than the English Premier [...]

One of the major criticisms of stated preference data is hypothetical bias. Using a unique dataset of both stated and actual behavior, we test for hypothetical bias of stated preference survey responses. We consider whether respondents tend to overstate their participatory sporting event behavior ex ante when compared to their actual behavior at different registration fees. We find that stated behavior accurately predicts actual behavior at a middle level of respondent certainty, overpredicts actual behavior at a lower level of certainty, and underpredicts behavior at a higher level of certainty. This result suggests that respondent uncertainty corrections can be used to mitigate hypothetical bias and stated preference data can be used to better understand actual behavior in situations where no data exist. (JEL L83, Q51, Z2), I. INTRODUCTION The contingent valuation method (CVM) elicits statements of hypothetical willingness-to-pay. In a recent symposium on contingent valuation in the Journal of Economic Perspectives, Kling, Phaneuf, and Zhao (2012) [...]

We collect contingent valuation data from 524 student survey respondents over a 3-day, 72-hour period. Data analysis of a hypothetical campus referendum focuses on time-of-day effects on willingness to pay for a renewable energy project. We find that subjects responding to the survey during the night-time hours (i.e., between 12 a.m. and 6 a.m.) do not display the law of demand, offering theoretically invalid responses to questions with important policy implications. Results from this research may have serious implications for the contingent valuation method (CVM). In short, just like your father said, nothing good happens after midnight when using the CVM. (JEL Q51), I. INTRODUCTION The contingent valuation method (CVM) is a stated preference approach to the valuation of public goods (Carson 2012a, 2012b). Preferences are 'stated' in the sense that survey respondents [...]

Economic assessments are rarely applied to inland recreational fisheries for management purposes, especially when compared to fish, habitat, and creel assessments, yet economic assessments can provide critical information for management decisions. We provide a brief overview of economic value, key terminology, and existing economic techniques to address these issues. Benefit transfer, a technique used to measure economic value when an original analysis is not practicable, is conducted by drawing on existing estimates of economic value in similar contexts. We describe an application of benefit transfer to measure the economic value of several recreational fisheries in Nebraska, USA. We examine two approaches to benefit transfer—value transfer and function transfer—which we demonstrate estimate similar economic values for fishing site access but substantially different economic values for catch rate improvements at some reservoirs. We encourage agencies that are responsible for inland recreational fisheries management to consider economic assessment, especially benefit transfer, as a critical tool in the management toolbox. [ABSTRACT FROM AUTHOR]