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

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 h...

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Bibliographic Details
Main Authors: Dolan, P. (Author), Kavetsos, G. (Author), Krekel, C. (Author), Mavridis, D. (Author), Metcalfe, R. (Author), Senik, C. (Author), Szymanski, S. (Author), Ziebarth, N.R (Author)
Format: Article
Language:English
Published: Elsevier B.V. 2019
Subjects:
Online Access:View Fulltext in Publisher
LEADER 01723nam a2200301Ia 4500
001 10.1016-j.jpubeco.2019.07.002
008 220511s2019 CNT 000 0 und d
020 |a 00472727 (ISSN) 
245 1 0 |a Quantifying the intangible impact of the Olympics using subjective well-being data 
260 0 |b Elsevier B.V.  |c 2019 
856 |z View Fulltext in Publisher  |u https://doi.org/10.1016/j.jpubeco.2019.07.002 
520 3 |a 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. © 2019 Elsevier B.V. 
650 0 4 |a Happiness 
650 0 4 |a Intangible effects 
650 0 4 |a Life satisfaction 
650 0 4 |a Olympic Games 
650 0 4 |a Quasi-natural experiment 
650 0 4 |a Sport events 
650 0 4 |a Subjective well-being 
700 1 |a Dolan, P.  |e author 
700 1 |a Kavetsos, G.  |e author 
700 1 |a Krekel, C.  |e author 
700 1 |a Mavridis, D.  |e author 
700 1 |a Metcalfe, R.  |e author 
700 1 |a Senik, C.  |e author 
700 1 |a Szymanski, S.  |e author 
700 1 |a Ziebarth, N.R.  |e author 
773 |t Journal of Public Economics