Put-ting the second part of our two-part sub-series of economics and golf (part of our overall summer series on economics in sport) is one of our Consultants Tom Elder. Following last week’s article teed off by our colleague Natalie Luyt, Tom has written an article looking into possible ways to test the intangible benefits that consumers might (in theory) receive from the ‘in principle’ merger agreed by major golfing bodies. He assesses what the benefits to customers might in fact be, and weighs up the pros and cons of two available methodologies to quantify these benefits: (i) revealed preference; and (ii) stated preference. Going forward, it will be interesting to keep a close eye on whether one (or both) of these methodologies are adopted in practice. Read here.
