One way to illustrate the importance of sports in society and determine its inter-institutional status and potential benefits is by specifying its economic power in contributing to public welfare and calculating the economic value of the general products of various sectors of sports. Value is created when people’s welfare varies as a result of qualitative or quantitative changes in benefiting from a commodity or a property of that commodity. Thus, valuable things are the ones that contribute to human welfare, and they become more valuable when they create higher levels of welfare. In addition to its direct financial contributions, sports generate a wide range of indirect and intangible benefits such as social cohesion, community identity, public health improvements, youth development, and even international reputation that are often overlooked in traditional economic assessments. Recognizing these broader outcomes is essential because they influence how individuals and institutions perceive the overall value of sports. Furthermore, sports activities stimulate related industries including tourism, media, advertising, and manufacturing, creating a multiplier effect that strengthens national and local economies. By adopting a comprehensive valuation framework, policymakers can more accurately understand how sports function not only as an entertainment sector but also as a strategic economic asset that supports long-term social and developmental goals. In addition, considering the growing global demand for organized sporting events and recreational programs, understanding these valuation mechanisms becomes even more crucial for efficient resource allocation and sustainable sectoral planning. Economic valuation is an instrumental value aiming to maximize human welfare; thus, the present study aimed to analyze the economic valuation framework in the case of sports phenomena.
 
 
Methods
The present study used a qualitative methodology in the form of a descriptive-survey approach and was considered an applied study in terms of its purpose. The population consisted of a human population (professors, instructors, and economists) and an information population (scientific, documentary, and library resources). The human population of the study was made up of everybody who was informed of the topic of economic valuation and worked as professors, marketing and economics researchers, or managers in the field of sports economics. On the other hand, the library population consisted of 57 research records (books, articles, and dissertations) that were reviewed by six researchers and managers in the field of economic valuation and sports economics based on an in-depth and detailed investigation and extraction of the intended and repetitive components of the study before conducting the Delphi technique. After making the preliminary conclusions, the Delphi technique was conducted in three stages to corroborate and develop the conceptual model of the study (Table 1); thus, 14 participants (6 researchers and experts in sports economics, 2 financial and marketing managers in sports employed by Esteghlal Sports Club, and 6 experienced researchers in non-sports economic valuation) were selected, and the conceptual model of the study was developed and illustrated after the three stages of the technique – i.e., sending, receiving, and applying their views. The study used purposive and judgmental (theoretical) sampling. The instruments included library research and the three-stage Delphi technique. In the former, the extraction of the components was carried out by investigating the records, books, and articles – both domestic and international – to unravel the basics and background of the topic. The validity of the instrument was confirmed based on determining the scientific and legal credibility of the documents. Then, the virtual Delphi sessions were held by a panel of experts who were well-informed about the topic of the study. Before the session, six researchers and managers in economic valuation and sports economics were consulted to complement and adjust the factors and relationships identified according to the analytical framework extracted from the library research. Three-stage Delphi technique was utilized in the present study. Finally, the Kappa coefficient (0.82) was utilized to investigate the stability of responses between the second and third rounds according to the agreement percentage in the case of each group (e.g., the percentage of the participants who selected that “relevant” class”.
 
Results
The systematic analytical-conceptual framework of the study was made up of four main sections, including the input, process, output, and consequences (six perspectives, 14 dimensions, and 80 components). The input to the system (the determining and influential factors) was made up of three dimensions, including influential factors, intervening behavioral factors, and driving structural factors. The process of the system was made of several perspectives, including the value-laden capabilities of the targeted phenomenon (value-creating pillars and shared values), valuing society (demographic and cognitive-attitudinal characteristics), and valuation methods (processes of design and execution). Moreover, the total economic values (consumable and non-consumable values) made up the output of the system. Finally, the consequence of the economic valuation system of sports phenomena was the willingness to pay as individuals or groups.
 
Conclusion
Based on the results, it can be argued that the willingness to pay and economic value of a sports phenomenon are, first of all, influenced by behavioral, structural, and environmental factors that the phenomenon is influenced by or influences them as input. In a process, the input is combined with value-creating pillars and the value-laden characteristics of the phenomenon, the socioeconomic attributes of the society that perceives the value, and the type of valuation method used, to result in an output called “the total economic value of the phenomenon in the minds of the stakeholders.” As the perception of this output becomes more highlighted and more clearly understood, the willingness to pay and the economic value of the phenomenon increase as a natural consequence of the chain of interactions. Furthermore, the findings show that stakeholders’ awareness, previous experiences, emotional attachment, and expectations regarding sports significantly shape how they interpret and internalize the economic value created. These elements make the valuation process dynamic rather than static, emphasizing that sports phenomena generate both tangible and intangible benefits that evolve over time. According to the detected dimensions, the results of the present study can assist researchers in determining the economic value of sports phenomena with greater precision. Moreover, it can offer practical guidance to policymakers in the field of sports, enabling them to adjust their decisions and policies by recognizing the key factors that enhance the perceived value of sports phenomena and contribute to a more accurate calculation of their economic significance.
Article message
Use various information systems to raise awareness about the economic and environmental benefits of sports in society, thereby increasing interest and participation in sports and, as a result, increasing the value of sports phenomena among the target population.
Ethical Considerations
In this research, all ethical principles, such as respecting the confidentiality of participants' information, have been observed.
Authors’ Contributions
Conceptualization: Rahim Ramezan Nejad, Mehdi Jokar.
Data Collection: Mehdi Jokar.
Data Analysis: Mahmoud Moradi, Mohammad Hassan Gholizadeh.
Manuscript Writing: Mehdi Jokar, Rahim Ramezan Nejad.
Review and Editing: Rahim Ramezan Nejad.
Responsible for funding: Mehdi Jokar, Rahim Ramezan Nejad.
Literature Review: Rahim Ramezan Nejad.
Project Manager: Rahim Ramezan Nejad, Mehdi Jokar, Mahmoud Moradi, Mohammad Hassan Gholizadeh.
Additional Contributions
All authors contributed to the research process via theoretical guidance and scientific consultation.
Conflict of Interest
The authors declare no conflicts of interest.
Acknowledgments
The authors sincerely thank all participants and supporting institutions for their invaluable assistance
and contributions to this research.