Leave or Live a Legacy? Using the Choice Experiment to Value Olympic Venues for Post-use

Abstract

This study attempts to apply a choice experiment to quantifying the benefits of services provided by postuse programs of three Olympic venues in the Republic of Korea: the hockey center, the oval, and the sliding center. We consider the trade-offs between price and programs of three venues for selecting a preferred alternative and derive the marginal willingness to pay (WTP) estimate for each program. As a result, the households' annual WTP for the hockey center, the oval, and the sliding center is found to be 10,372, 10,698, and 12,574 Korean won, respectively. This study is expected to provide policy makers with useful information for evaluating and planning programs for post-use of venues for mega-events such as the Olympics.