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Quantifying the intangible impact of the Olympics using subjective well-being data

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  • Dolan, Paul
  • Kavetsos, Georgios
  • Krekel, Christian
  • Mavridis, Dimitris
  • Metcalfe, Robert
  • Senik, Claudia
  • Szymanski, Stefan
  • Ziebarth, Nicolas R.

Abstract

Hosting the Olympic Games costs billions of taxpayer dollars. Following a quasi-experimental setting, this paper assesses the intangible impact of the London 2012 Olympics, using a novel panel of 26,000 residents in London, Paris, and Berlin during the summers of 2011, 2012, and 2013. We show that hosting the Olympics increases subjective well-being of the host city's residents during the event, particularly around the times of the opening and closing ceremonies. However, we do not find much evidence for legacy effects. Estimating residents' implicit willingness-to-pay for the event, we do not find that it was worth it for London alone, but a modest well-being impact on the rest of the country would make hosting worth the costs.

Suggested Citation

  • Dolan, Paul & Kavetsos, Georgios & Krekel, Christian & Mavridis, Dimitris & Metcalfe, Robert & Senik, Claudia & Szymanski, Stefan & Ziebarth, Nicolas R., 2019. "Quantifying the intangible impact of the Olympics using subjective well-being data," Journal of Public Economics, Elsevier, vol. 177(C), pages 1-1.
  • Handle: RePEc:eee:pubeco:v:177:y:2019:i:c:6
    DOI: 10.1016/j.jpubeco.2019.07.002
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    Cited by:

    1. Lippmann, Quentin & Georgieff, Alexandre & Senik, Claudia, 2019. "Undoing Gender with Institutions: Lessons from the German Division and Reunification," IZA Discussion Papers 12212, Institute of Labor Economics (IZA).
    2. repec:spr:inrvec:v:65:y:2018:i:2:d:10.1007_s12232-017-0290-7 is not listed on IDEAS

    More about this item

    Keywords

    Subjective well-being; Life satisfaction; Happiness; Intangible effects; Olympic Games; Sport events; Quasi-natural experiment;

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • Z20 - Other Special Topics - - Sports Economics - - - General
    • Z28 - Other Special Topics - - Sports Economics - - - Policy

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