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

Author

Listed:
  • Paul Dolan

    (CEP - LSE - Centre for Economic Performance - LSE - London School of Economics and Political Science)

  • Georgios Kavetsos

    (CEP - LSE - Centre for Economic Performance - LSE - London School of Economics and Political Science)

  • Christian Krekel

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Dimitris Mavridis

    (OCDE - Organisation de Coopération et de Développement Economiques = Organisation for Economic Co-operation and Development)

  • Robert Metcalfe

    (University of Chicago)

  • Claudia Senik

    (UP4 - Université Paris-Sorbonne)

  • Stefan Szymanski

    (University of Michigan [Ann Arbor] - University of Michigan System)

  • Nicolas R. Ziebarth

    (Cornell University [New York])

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 _nd much evi- dence for legacy e_ects. Estimating residents' implicit willingness-to-pay for the event, we do not _nd that it was worth it for London alone, but a modest wellbeing impact on the rest of the country would make hosting worth the costs.

Suggested Citation

  • Paul Dolan & Georgios Kavetsos & Christian Krekel & Dimitris Mavridis & Robert Metcalfe & Claudia Senik & Stefan Szymanski & Nicolas R. Ziebarth, 2019. "Quantifying the intangible impact of the Olympics using subjective well-being data," Working Papers halshs-01349354, HAL.
  • Handle: RePEc:hal:wpaper:halshs-01349354
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    More about this item

    Keywords

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

    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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