EVALUATING SPECIAL EVENTS: MERGING TWO ESSENTIAL APPROACHES

In special event evaluation, given the shift away from standard economic impact analysis based on input-output modeling, increased attention is being paid to the roles that computable general equilibrium modeling (CGE) and cost-benefit analysis (CBA) can play in event evaluation. This article analyzes the strengths and limitations of CGE and CBA in the context of event assessment. A hybrid approach is outlined which includes a role for the advantages of both techniques to be included in the evaluation process. The issues addressed are theoretically important for both impact and benefit estimation, while having significant practical implications for event assessment.