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Men, Money, And Medals: An Econometric Analysis Of The Olympic Games

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  • Hon-Kwong Lui
  • Wing Suen

Abstract

Population size and the level of income per capita are major determinants of the number of medals won by a country in the 1952-2004 Olympic Games. A parsimonious count (Poisson) model fits the data very well: the squared correlation between the predicted value of the number of medals won and the observed value is about 56%. There exist strong country-specific effects in Olympic medals results. While the USA and China tend to outperform other countries relative to their size and income, the Asian dragons tend to under-perform in the Games. Copyright 2008 The Authors Journal compilation 2008 Blackwell Publishing Ltd

Suggested Citation

  • Hon-Kwong Lui & Wing Suen, 2008. "Men, Money, And Medals: An Econometric Analysis Of The Olympic Games," Pacific Economic Review, Wiley Blackwell, vol. 13(1), pages 1-16, February.
  • Handle: RePEc:bla:pacecr:v:13:y:2008:i:1:p:1-16
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    References listed on IDEAS

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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Who will win the Olympics?
      by Economic Logician in Economic Logic on 2008-08-08 12:05:00

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    Cited by:

    1. Marcus Noland & Kevin Stahler, 2016. "Asian Participation and Performance at the Olympic Games," Asian Economic Policy Review, Japan Center for Economic Research, pages 70-90.
    2. Forrest, David & Sanz, Ismael & Tena, J.D., 2010. "Forecasting national team medal totals at the Summer Olympic Games," International Journal of Forecasting, Elsevier, pages 576-588.
    3. Vagenas, George & Vlachokyriakou, Eleni, 2012. "Olympic medals and demo-economic factors: Novel predictors, the ex-host effect, the exact role of team size, and the “population-GDP” model revisited," Sport Management Review, Elsevier, vol. 15(2), pages 211-217.
    4. Frank Butter & Casper Tak, 1995. "Olympic medals as an indicator of social welfare," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, pages 27-37.
    5. Christian Pierdzioch & Eike Emrich, 2013. "A Note on Corruption and National Olympic Success," Atlantic Economic Journal, Springer;International Atlantic Economic Society, pages 405-411.
    6. Marcus Noland, 2016. "Russian Doping in Sports," Working Paper Series WP16-4, Peterson Institute for International Economics.
    7. Marcus Noland & Kevin Stahler, 2016. "What Goes into a Medal: Women's Inclusion and Success at the Olympic Games," Social Science Quarterly, Southwestern Social Science Association, pages 177-196.
    8. Henseke, Golo, 2009. "Country performance at the International Mathematical Olympiad," Thuenen-Series of Applied Economic Theory 108, University of Rostock, Institute of Economics.

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