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The Winner’s Curse: Why is the Cost of Mega Sporting Events so Often Underestimated?

In: International Handbook on the Economics of Mega Sporting Events

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  • Wladimir Andreff

Abstract

From the Olympics to the World Cup, mega sporting events are a source of enjoyment for tens of thousands of people, but can also be a source of intense debate and controversy. This insightful Handbook addresses a number of central questions, including: How are host cities selected and under what economic conditions? How are these events organized, and how is local resistance overcome? Based on historical and empirical experience, what are the pitfalls for the organizers of these events? What are the potential economic benefits, including any international image effects? How can the costs be minimized and the benefits maximized for host cities and countries? How do these mega events impact the challenges of globalization and what is their environmental legacy?

Suggested Citation

  • Wladimir Andreff, 2012. "The Winner’s Curse: Why is the Cost of Mega Sporting Events so Often Underestimated?," Chapters, in: Wolfgang Maennig & Andrew Zimbalist (ed.), International Handbook on the Economics of Mega Sporting Events, chapter 4, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14313_4
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    References listed on IDEAS

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    Cited by:

    1. Bouvet, Patrice, 2013. "Les « retombées » des évènements sportifs sont-elles celles que l’on croit ?," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 13.
    2. Vörös, Tünde, 2017. "Költség-haszon elemzési keretrendszer sportberuházások társadalmi-gazdasági értékeléséhez [An economic framework for cost-benefit analysis of sports facilities]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 394-420.
    3. Wifo, 2023. "WIFO-Monatsberichte, Heft 7/2023," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(7), July.
    4. Elena Trubina, 2019. "The urban commodity futures of the Olympics: Examining the multiscalar processes of the Games," Environment and Planning A, , vol. 51(8), pages 1703-1719, November.
    5. M. de Nooij & M.R. van den Berg, 2013. "The bidding paradox: why rational politicians still want to bid for mega sports events," Working Papers 13-09, Utrecht School of Economics.
    6. Matthias Firgo & Oliver Fritz, 2023. "Regionalwirtschaftliche und touristische Effekte von Sportgroßveranstaltungen," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(7), pages 481-490, July.
    7. Müller, Martin, 2017. "Approaching paradox: Loving and hating mega-events," Tourism Management, Elsevier, vol. 63(C), pages 234-241.

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