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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 ()
Additional contact information
Paul Dolan: Centre for Economic Performance - LSE - London School of Economics and Political Science
Dimitris Mavridis: OCDE - Organisation de Coopération et de Développement Economiques

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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 _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.

Keywords: Quasi-natural experiment; Subjective well-being; Life satisfaction; Happiness; Intangible effects; Olympic Games; Sport events (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hap
Date: 2019-09
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-01349354v2
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Journal Article: Quantifying the intangible impact of the Olympics using subjective well-being data (2019) Downloads
Working Paper: Quantifying the Intangible Impact of the Olympics Using Subjective Well-Being Data (2019) Downloads
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) Downloads
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