Previous Chapter Chapter 15: The Cost of Hosting International Sports Events

  • Citations
  • Add to My List
  • Text Size

The Cost of Hosting International Sports Events
The Cost of Hosting International Sports Events
Wladimir Andreff
Introduction

Local politicians and decision makers are easy to convince that for a country/city it will be worth hosting an international mega-sporting event. An ex ante study of the economic and social impacts exhibiting a net benefit will finalise the consensus. However, it is nearly impossible to succeed in hosting a mega-sporting event at expected costs and benefits. The economic rationale of this paradox lies in awarding such events through an auction-like procedure which turns out to trigger a winner’s curse. In this chapter, we will outline a critical examination of how a winner’s curse develops and to what extent its consequences can be managed.

First, the ...

Looks like you do not have access to this content.

Login

Don’t know how to login?

Click here for free trial login.

Back to Top

Copy and paste the following HTML into your website