From the Olympics to the World Cup, mega sporting events are a source of enjoyment for tens of thousands of people, but can also be a source of intense debate and controversy. This insightful Handbook addresses a number of central questions, including: How are host cities selected and under what economic conditions? How are these events organized, and how is local resistance overcome? Based on historical and empirical experience, what are the pitfalls for the organizers of these events? What are the potential economic benefits, including any international image effects? How can the costs be minimized and the benefits maximized for host cities and countries? How do these mega events impact the challenges of globalization and what is their environmental legacy? Compiled and edited by two internationally renowned sports economists, the expert contributions elaborate on the specific mechanisms of the bid processes, analyse the determining factors of winning bids, and illustrate how to construct future bid campaigns.
Underpinned by case studies from four continents and by theoretical considerations, the reasons for seemingly systemic cost overruns are explored and analysed, as are the effects on national and regional employment and income, property values, non-traditional economic variables (such as psychological and marketing benefits) and urban branding and transformation. The Handbook also reflects on important elements of design of the games in order to better plan, prepare and allocate resources - including, for example, sustainability issues and the use of campaigns to secure positive perceptions. This book provides an up-to-date analysis of the financing and economic impact of mega sporting events, as well as a full discussion of how host cities can maximize the benefits from their experience. As such, it will prove a fascinating read for academics, students, researchers and policymakers with an interest in economics and public sector economics generally, and more specifically, in the economics of sport.
Contents: PART I: INTRODUCTION 1. Introduction: The Economics of Mega Sporting Events Wolfgang Maennig and Andrew Zimbalist 2. What is a Mega Sporting Event? Wolfgang Maennig and Andrew Zimbalist PART II: BIDDING FOR MEGA EVENTS 3. Mega Sporting Event Bidding, Mechanism Design and Rent Extraction Brad R. Humphreys and Henry van Egteren 4. The Winner's Curse: Why is the Cost of Mega Sporting Events so Often Underestimated? Wladimir Andreff 5. Determinants of Successful Bidding for Mega Events: The Case of the Olympic Winter Games Arne Feddersen and Wolfgang Maennig 6. An Analysis of the Political Economy for Bidding for the Summer Olympic Games: Lessons from the Chicago 2016 Bid Robert A. Baade and Allen R. Sanderson 7. Support For and Resistance Against Large Stadiums: The Role of Lifestyle and Other Socio-economic Factors Gabriel M. Ahlfeldt, Wolfgang Maennig and Michaela Olschlager PART III: DESIGN OF MEGA EVENTS 8. Can Mega Events Deliver Sustainability? The Case of the 2010 FIFA World Cup in South Africa Anton Cartwright 9. Stakeholder Perceptions of Short-term Marketing Tactics During the Olympics Rick Burton, Norm O'Reilly and Benoit Seguin 10. Mega Events and Local Politics Matthew J. Burbank, Greg Andranovich and Charles H. Heying 11. Estimating Match and World Cup Winning Probabilities Ruud H. Koning and Ian G. McHale 12. Doping and Anti-doping Measures Nicolas Eber 13. Explaining and Forecasting National Team Medals Totals at the Summer Olympic Games David Forrest, Adams Ceballos, Ramon Flores, Ian G. McHale, Ismael Sanz and J.D. Tena PART IV: GENERAL STUDIES OF ECONOMIC IMPACT AND METHODOLOGY 14. The Econometric Analysis of Willingness to Pay for Intangibles with Experience Good Character Bernd Sussmuth 15. Economic Impact of Sports Events Philip K. Porter and Daniel M. Chin 16. The Economic Impact, Costs and Benefits of the FIFA World Cup and the Olympic Games: Who Wins, Who Loses? Stefan Kesenne 17. Outlook, Progress and Challenges of Stadium Evaluation Gabriel M. Ahlfeldt and Georgios Kavetsos 18. The BRICs: National and Urban Legacy Agendas Richard Tomlinson and Orli Bass 19. Mega Events and Sports Institutional Development: The Impact of the World Cup on Football Academies in Africa Jeroen Schokkaert, Johan F.M. Swinnen and Thijs Vandemoortele 20. Economic Impact of Organizing Large Sporting Events Elmer Sterken PART V: CASE STUDIES: ECONOMIC IMPACT OF MEGA EVENTS 21. Tour de France: A Taxpayer Bargain Among Mega Sporting Events? Judith Grant Long 22. Labor Market Effects of the World Cup: A Sectoral Analysis Robert Baumann, Bryan Engelhardt and Victor A. Matheson 23. Not-So-Mega Events Dennis Coates 24. Reflections on Developing the 2010 FIFA World CupA' Research Agenda Kamilla Swart and Urmilla Bob 25. The Economic Impact of the Golf Majors Stephen Shmanske 26. People's Perception of the Social Impacts of the Bejing Olympic Games Before and After 2008 Yingzhi Guo, Chun Zhou and Yuansi Hou 27. The 2010 FIFA World Cup High-frequency Data Economics: Effects on International Tourism and Awareness for South Africa Stan du Plessis and Wolfgang Maennig 28. For a Monsoon Wedding: Delhi and the Commonwealth Games Nalin Mehta and Boria Majumdar 29. The Case of Brazil 2014/2016 Luiz Martins de Melo 30. The Employment Effects of London 2012: An Assessment in Mid-2011 Dan Brown and Stefan Szymanski PART VI: CONCLUSION 31. Future Challenges: Maximizing the Benefits and Minimizing the Costs Wolfgang Maennig and Andrew Zimbalist Index
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