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

Paul Dolan, Georgios Kavetsos, Christian Krekel, Dimitris Mavridis, Robert Metcalfe (), Claudia Senik (), Stefan Szymanski and Nicolas Ziebarth ()
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Paul Dolan: CEP - LSE - Centre for Economic Performance - LSE - London School of Economics and Political Science, LSE - London School of Economics and Political Science
Claudia Senik: 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 nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique, UP4 - Université Paris-Sorbonne

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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.

Date: 2019-09
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Citations: View citations in EconPapers (38)

Published in Journal of Public Economics, 2019, 177, pp.104043. ⟨10.1016/j.jpubeco.2019.07.002⟩

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Journal Article: Quantifying the intangible impact of the Olympics using subjective well-being data (2019)
Working Paper: Quantifying the intangible impact of the Olympics using subjective well-being data (2019)
Working Paper: Quantifying the intangible impact of the Olympics using subjective well-being data (2019)
Working Paper: Quantifying the intangible impact of the Olympics using subjective well-being data (2019)
Working Paper: Quantifying the intangible impact of the Olympics using subjective well-being data (2019)
Working Paper: Quantifying the intangible impact of the Olympics using subjective well-being data (2019)
Working Paper: Quantifying the Intangible Impact of the Olympics Using Subjective Well-Being Data (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02297907

DOI: 10.1016/j.jpubeco.2019.07.002

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