Contingent Valuation of Taipei Dome’s Non-Use Value
Date Issued
2012
Date
2012
Author(s)
Lin, Chang-Yi
Abstract
Non-use benefit is the crucial content of large-scale stadiums and gymnasiums'' intangible social benefits. However, benefit valuation of domestic sport facility construction projects is still based on the view of financial feasibility; even Taipei Dome, the largest scale stadium construction, is also deficient in valuation of stadium''s non-use value. Therefore, this study based on Ex ante evaluation used contingent valuation method (CVM) and payment card method to develop a questionnaire survey of Taipei citizens for Taipei Dome''s non-use value. In empirical data analysis, this study used OLS, Ordered Probit and Ordered Logit to establish regression models of citizen''s average willingness to pay (WTP) in order to estimate Taipei Dome''s non-use value.
The results of empirical analysis reveal that citizen''s monthly income and cognition toward the discourse of bequest benefit are significant factors influencing his WTP of Taipei Dome''s non-use value. In addition, the results also show predicted values of citizen''s yearly average WTP: the OLS model’s estimate is NT$1364, the Ordered Probit model’s estimate is NT$1187, while the Ordered Logit model’s estimate is NT$2314. By using the Ordered Probit and Ordered Logit models’ estimates of WTP, this study calculated that Taipei Dome''s future non-use value was approximately between NT$2,407,269,236 and NT$4,692,856,792. Namely, the Taipei Dome’s non-use value ranges approximately from NT$24 to NT$47 billion per year.
To sum up, this study argues that non-use benefit valuation should be included in the feasibility and planning reports of domestic large-scale stadium and gymnasium projects concerning the public goods effects generated from those construction projects. In this way, the information integrity of proposed projects’ benefit valuation will be improved, and thus decision makers will be able to carry out more effective policies.
Subjects
Taipei Dome
large-scale stadiums and gymnasiums
non-use value
contingent valuation method
CVM
Type
thesis
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