RASCIUTE, S. and DOWNWARD, P., 2010. Health or happiness? What is the impact of physical activity on the individual?. Kyklos, 63 (2), pp.256-270.
This paper models the effect that physical activity such as sports participation and active travel, through walking and cycling, has on self-reported health and well-being. The results show that physical activity and active travel mainly have a positive effect on both individual health and well-being. Although, cycling has health benefits, it also appears to involve some disutility, which requires further investigation.