ABSTRACT
This chapter gives an introduction to The Value of Events and sets the stage for subsequent contributions by providing an overview of the most fundamental concepts. It starts with definitions that can be found in most dictionaries, including examples of how terms are used in the context of events. This is followed by a general discussion of extrinsic versus intrinsic approaches to assigning value, drawing on economics and other disciplinary perspectives. The chapter presents planned events and a model for exploring extrinsic and intrinsic values. While understanding and describing value of one particular event is desirable, an even more urgent and complicated issue is to understand the value of portfolios of events that are important within many policy fields and industry strategies, and whole populations of events within cities and countries. Discourse on the value of events, or the worthwhileness of public support, is common around the world.
