Estimating the effects of different admission fees on revenues for a mega-event using a contingent valuation method Academic Article

abstract

• Estimates of the effect of different admission fees on revenues for the Expo 2012 Yeosu mega-event are provided. A national survey was conducted for the Korean population. The results indicate that the revenue-maximizing admission fee is approximately KRW 27,000, with an estimated 14.6 million visitors and KRW 388.3 billion for the best-guess scenario. With an eight million visitor capacity constraint, the admission fee should be KRW 39,000. Implications of admission pricing strategies are provided in the conclusion.

authors

• Mjelde, James

published proceedings

• TOURISM ECONOMICS

author list (cited authors)

• Lee, C., Mjelde, J. W., & Kim, T.

citation count

• 1

complete list of authors

• Lee, Choong-Ki||Mjelde, James W||Kim, Tae-Kyun

publication date

• January 2013

publisher

• SAGE Publications  Publisher

published in

• Tourism Economics: the business and finance of tourism and recreation  Journal

keywords

• Admission Fee
• Contingent Valuation Method
• Demand Function
• Mega-event

Digital Object Identifier (DOI)

• 10.5367/te.2013.0184

start page

• 147

end page

• 159

volume

• 19

issue

• 1

URL

• http%3A%2F%2Fdx.doi.org%2F10.5367%2Fte.2013.0184