16 Pages Posted: 11 Jan 2008
Population size and the level of income per capita are major determinants of the number of medals won by a country in the 1952-2004 Olympic Games. A parsimonious count (Poisson) model fits the data very well: the squared correlation between the predicted value of the number of medals won and the observed value is about 56%. There exist strong country-specific effects in Olympic medals results. While the USA and China tend to outperform other countries relative to their size and income, the Asian dragons tend to under-perform in the Games.
Suggested Citation: Suggested Citation
Lui, Hon-Kwong and Suen, Wing, Men, Money, and Medals: An Econometric Analysis of the Olympic Games. Pacific Economic Review, Vol. 13, Issue 1, pp. 1-16, February 2008. Available at SSRN: https://ssrn.com/abstract=1082631 or http://dx.doi.org/10.1111/j.1468-0106.2007.00386.x
By Loek Groot
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