The winner's curse: why is the cost of sports mega-events so often underestimated?
Author
Abstract
Suggested Citation
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00703466
Download full text from publisher
References listed on IDEAS
- repec:bla:jfinan:v:44:y:1989:i:1:p:59-75 is not listed on IDEAS
- Bruce K. Johnson & Peter A. Groothuis & John C. Whitehead, 2001. "The Value of Public Goods Generated by a Major League Sports Team," Journal of Sports Economics, , vol. 2(1), pages 6-21, February.
- Andrew Zimbalist, 2011. "economic impact of the Olympic Games," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
- Wolfgang Maennig, 2002. "On the Economics of Doping and Corruption in International Sports," Journal of Sports Economics, , vol. 3(1), pages 61-89, February.
- Wladimir Andreff, 2000. "Privatisation and Corporate Governance in Transition Countries: Beyond the Principal-Agent Model," Post-Print halshs-00275972, HAL.
- Bruce K. Johnson & Peter A. Groothuis & John C. Whitehead, 2000. "“The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach,”," Working Papers 0014, East Carolina University, Department of Economics.
- Swantje Allmers & Wolfgang Maennig, 2008. "South Africa 2010: Economic Scope and Limits," Working Papers 021, Chair for Economic Policy, University of Hamburg.
- Arne Feddersen & Wolfgang Maennig & Philipp Zimmermann, 2008. "The empirics of key factors in the success of bids for olympic games," Revue d'économie politique, Dalloz, vol. 118(2), pages 171-187.
- Wladimir Andreff, 2003. "Privatisation and Structural Change in Transition Economies," Post-Print halshs-00275935, HAL.
- Wladimir Andreff, 2003. "Twenty Lessons from the Experience of Privatisation in Transition Economies," Post-Print halshs-00275968, HAL.
- Robert A. Baade & Victor A. Matheson, 2001. "Home Run or Wild Pitch?," Journal of Sports Economics, , vol. 2(4), pages 307-327, November.
- E. Malinvaud, 1967. "Decentralized Procedures for Planning," International Economic Association Series, in: E. Malinvaud & M. O. L. Bacharach (ed.), Activity Analysis in the Theory of Growth and Planning, chapter 0, pages 170-208, Palgrave Macmillan.
- Oskar Lange, 1936. "On the Economic Theory of Socialism," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 4(1), pages 53-71.
- Levis, Mario, 1990. "The Winner's Curse Problem, Interest Costs and the Underpricing of Initial Public Offerings," Economic Journal, Royal Economic Society, vol. 100(399), pages 76-89, March.
- Egon Neuberger, 1959. "The Yugoslav Investment Auctions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 73(1), pages 88-115.
- Rock, Kevin, 1986. "Why new issues are underpriced," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 187-212.
- George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Vöpel, Henning, 2014. "Olympische Spiele in Hamburg - produktive Vision oder teure Fiktion? Regionalwirtschaftliche und standortpolitische Chancen und Risiken einer Bewerbung Hamburgs für die Ausrichtung Olympischer Spiele," HWWI Policy Papers 84, Hamburg Institute of International Economics (HWWI).
- Elena Trubina, 2019. "The urban commodity futures of the Olympics: Examining the multiscalar processes of the Games," Environment and Planning A, , vol. 51(8), pages 1703-1719, November.
- Müller, Martin, 2017. "Approaching paradox: Loving and hating mega-events," Tourism Management, Elsevier, vol. 63(C), pages 234-241.
- Barth Michael, 2015. "Contemporary Research in Sports Economics: Proceedings of the 5th ESEA Conference: Besprechung des von Oliver Budzinski und Arne Feddersen herausgegebenen gleichnamigen Tagungsbandes," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 66(1), pages 353-359, January.
- MASSIANI, Jérôme, 2022. "Computable General Equilibrium assessment of mega-events: Issues and possible solutions," Journal of Policy Modeling, Elsevier, vol. 44(5), pages 920-942.
- Matthias Firgo & Oliver Fritz, 2023. "Regionalwirtschaftliche und touristische Effekte von Sportgroßveranstaltungen," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(7), pages 481-490, July.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Wladimir Andreff, 2012. "The winner's curse: why is the cost of sports mega-events so often underestimated?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00703466, HAL.
- Wladimir Andreff, 2012. "The Winner’s Curse: Why is the Cost of Mega Sporting Events so Often Underestimated?," Chapters, in: Wolfgang Maennig & Andrew Zimbalist (ed.), International Handbook on the Economics of Mega Sporting Events, chapter 4, Edward Elgar Publishing.
- Gary Charness & Dan Levin, 2009.
"The Origin of the Winner's Curse: A Laboratory Study,"
American Economic Journal: Microeconomics, American Economic Association, vol. 1(1), pages 207-236, February.
- Gary Charness & Dan Levin, 2005. "The Origin of the Winner’s Curse: A Laboratory Study," Levine's Bibliography 666156000000000602, UCLA Department of Economics.
- Charness, Gary B & Levin, Dan, 2007. "The Origin of the Winner’s Curse: A Laboratory Study," University of California at Santa Barbara, Economics Working Paper Series qt8g88c6ww, Department of Economics, UC Santa Barbara.
- Dennis Coates & Victor Matheson, 2011.
"Mega-events and housing costs: raising the rent while raising the roof?,"
The Annals of Regional Science, Springer;Western Regional Science Association, vol. 46(1), pages 119-137, February.
- Dennis Coates & Victor Matheson, 2009. "Mega-Events and Housing Costs: Raising the Rent while Raising the Roof?," Working Papers 0903, College of the Holy Cross, Department of Economics.
- Dennis Coates & Victor Matheson, 2009. "Mega-Events and Housing Costs: Raising the Rent while Raising the Roof?," Working Papers 0902, International Association of Sports Economists;North American Association of Sports Economists.
- Robert Baumann & Victor Matheson & Chihiro Muroi, 2008.
"Bowling in Hawaii: Examining the Effectiveness of Sports-Based Tourism Strategies,"
Working Papers
0808, College of the Holy Cross, Department of Economics.
- Robert Baumann & Victor Matheson & Chihiro Muroi, 2008. "Bowling in Hawaii: Examining the Effectiveness of Sports-Based Tourism Strategies," Working Papers 0807, International Association of Sports Economists;North American Association of Sports Economists.
- Bhattacharya, Arnab, 2017. "Innovations in new venture financing: Evidence from Indian SME IPOs," Global Finance Journal, Elsevier, vol. 34(C), pages 72-88.
- Andreff, Wladimir, 2002. "The new multinational corporations from transition countries," Economic Systems, Elsevier, vol. 26(4), pages 371-379, December.
- Robert W. Baumann & Victor A. Matheson & Chihiro Muroi, 2009.
"Bowling in Hawaii,"
Journal of Sports Economics, , vol. 10(1), pages 107-123, February.
- Robert Baumann & Victor Matheson & Chihiro Muroi, 2008. "Bowling in Hawaii: Examining the Effectiveness of Sports-Based Tourism Strategies," Working Papers 0808, College of the Holy Cross, Department of Economics.
- Wicker, Pamela & Kiefer, Stephanie & Dilger, Alexander, 2013. "The value of sporting success to Germans: Comparing the 2012 UEFA Championships with the 2012 Olympics," Discussion Papers of the Institute for Organisational Economics 11/2013, University of Münster, Institute for Organisational Economics.
- Ellen Garbarino & Robert Slonim, 2007. "Preferences and decision errors in the winner’s curse," Journal of Risk and Uncertainty, Springer, vol. 34(3), pages 241-257, June.
- Beat Reber & Caroline Fong, 2006. "Explaining mispricing of initial public offerings in Singapore," Applied Financial Economics, Taylor & Francis Journals, vol. 16(18), pages 1339-1353.
- Bernd Süssmuth & Malte Heyne & Wolfgang Maennig, 2010.
"Induced Civic Pride and Integration,"
Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 72(2), pages 202-220, April.
- Bernd Süssmuth & Malte Heyne & Wolfgang Maennig, 2009. "Induced Civic Pride and Integration," CESifo Working Paper Series 2582, CESifo.
- O. Ashton Morgan & John C. Whitehead, 2018.
"Willingness to Pay for Soccer Player Development in the United States,"
Journal of Sports Economics, , vol. 19(2), pages 279-296, February.
- O. Ashton Morgan & John C. Whitehead, 2015. "Willingness to Pay for Soccer Player Development in the United States," Working Papers 15-03, Department of Economics, Appalachian State University.
- Truchon, Michel, 1988.
"Programmation mathématique et théorie économique,"
L'Actualité Economique, Société Canadienne de Science Economique, vol. 64(2), pages 143-156, juin.
- Truchon, M., 1988. "Programmation Mathematique Et Theorie Economique," Cahiers de recherche 8811, Université Laval - Département d'économique.
- Brad R. Humphreys & Adam Nowak, 2015. "Professional Sports Facilities, Teams and Property Values: Evidence from Seattle's Key Arena," Working Papers 15-06, Department of Economics, West Virginia University.
- Bruce K. Johnson & John C. Whitehead & Daniel S. Mason & Gordon J. Walker, 2007.
"Willingness To Pay For Amateur Sport And Recreation Programs,"
Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 553-564, October.
- Bruce K. Johnson & John C. Whitehead & Daniel S. Mason & Gordon J. Walker, 2006. "Willingness to Pay for Amateur Sport and Recreation Programs," Working Papers 06-14, Department of Economics, Appalachian State University.
- Brad R. Humphreys & Bruce K. Johnson & Daniel S. Mason & John C. Whitehead, 2011.
"Estimating the Value of Medal Success at the 2010 Winter Olympic Games,"
Working Papers
11-20, Department of Economics, Appalachian State University.
- Humphreys, Brad & Johnson, Bruce & Mason, Daniel & Whitehead, John, 2011. "Estimating the Value of Medal Success at the 2010 Winter Olympic Games," Working Papers 2011-20, University of Alberta, Department of Economics.
- Athreya, Kartik B., 2014. "Big Ideas in Macroeconomics: A Nontechnical View," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262019736, April.
- Phillip Miller, 2009. "Subsidized monopolists and product prices: the case of Major League Baseball," Applied Economics, Taylor & Francis Journals, vol. 41(25), pages 3249-3255.
- Josef Schuster, 2003. "The Cross-Section of European IPO Returns," FMG Discussion Papers dp460, Financial Markets Group.
More about this item
Keywords
auctions; bids; winner's curse; asymmetric information; cost underestimation; mega sporting events; Olympics;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00703466. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.