Research On The Non-market Value And The Evaluation Of Olympic Games

With the continuous evolution of Olympic management and the increasing attention of the organizers,the impact of the Olympics on the development of the host city continues to strengthen,and hosting the Olympics has become an important means of urban renewal.Based on the perspective of the host city,this study adopts such research methods as literature research,logical thinking,case analysis,questionnaire survey and mathematical statistics,takes the non-market value and evaluation of the Olympic Games as the research object,and takes the utility value theory,public goods theory,Externality theory,and consumer behavior theory as the theoretical basis to build the basic theoretical framework of the non-market value of the Olympic Games.We delved into the evaluation methods of non-market value and used the conditional value evaluation method to evaluate the non-market value of the Olympic Games.Taking the joint bidding of the Yangtze River Delta as the empirical object,the conditional value evaluation method is used to obtain the willingness to pay of residents in the Yangtze River Delta,and based on this,the non-market value of the Olympic Games is estimated.The main conclusions are as follows:Firstly,from the perspective of the host city,the non-market value of the Olympic Games refers to the positive significance and usefulness of the Olympic Games that can meet the material needs or provide psychological satisfaction of the host city and its residents,but cannot be monetized in the market.The non-market value of the Olympic Games is rooted in the public goods attribute and positive Externality of the Olympic Games,which reflects the consumer surplus generated by the Olympic Games.The non-market value mechanism of the Olympics is manifested as: hosting the Olympics can promote urban development,thereby improving the well-being of urban residents.After residents’ needs are met,their willingness to support hosting the Olympics is further enhanced.Secondly,the external effects of non-market value of the Olympics are reflected in three aspects: material environment,spiritual culture,and emotional intelligence.Among them,"material environment" includes accelerating urban infrastructure construction,improving environmental governance,and other aspects;"Spiritual culture" includes spreading the Olympic spirit,improving the sports participation rate of residents,shaping the city image,inheriting Urban culture and other aspects;Emotional intelligence includes enhancing residents’ sense of happiness,enhancing national identity,enhancing community cohesion,and enriching knowledge and skills.The main ways to fully leverage the non-market value of the Olympics include leveraging the role of government platforms,stimulating market forces,effectively utilizing community resources,mobilizing residents’ initiative,triggering strategic media cooperation,and popularizing youth Olympic education.Thirdly,the conditional value assessment method is an effective method suitable for non-market value assessment of the Olympic Games.The inherent principle of using the conditional value assessment method to evaluate the non-market value of the Olympic Games is: firstly,to construct the residents’ utility function of the host city of the Olympic Games,and to obtain the residents’ willingness to pay for the non-market value of the Olympic Games;Secondly,based on the theory of residents’ Indifference curve,realize the monetization of non-market value of the Olympic Games;Once again,based on consumer surplus theory,achieve non-market value pricing for the Olympic Games;Finally,based on the total willingness of all residents to pay,the total non-market value of the Olympics is estimated.Fourthly,the cross regional joint hosting of the Yangtze River Delta region has a good public foundation,and residents in the region,represented by the four cities,have a strong willingness to support the joint bid for the Olympic Games.The empirical Case study of the joint Olympic bid in the Yangtze River Delta shows that sports involvement and annual disposable income of families are the main factors affecting willingness to pay.Fifthly,the non-market value of the Olympic Games is becoming an important component of the Olympic value system,and the evaluation of non-market value of the Olympic Games will become an important part of the Olympic bid decision-making.The non-market value of the Olympic Games varies among cities,and if there are no event arrangements,the non-market value of the host city’s Olympic Games will decrease to varying degrees.