Men, money, and medals : an econometric analysis of the Olympic Games
Pacific Economic Review
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.
Copyright © 2008 The Authors
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Lui, H. K., & Suen, W. (2008). Men, money, and medals: An econometric analysis of the Olympic Games. Pacific Economic Review, 13(1), 1-16. doi: 10.1111/j.1468-0106.2007.00386.x