Quantifying the intangible impacts of mega events using subjective wellbeing data

11/14/2018 12:00 pm 11/14/2018 01:00 pm Australia/Melbourne Quantifying the intangible impacts of mega events using subjective wellbeing data

The Centre for Health Economics invites you to a research seminar 'Quantifying the intangible impacts of mega events using subjective wellbeing data: The case of the 2012 Olympics in London' presented by Dr Christian Krekel, from London School of Economics.

No RSVP is required.

Abstract summary

To host the Olympic Games, governments are willing to spend billions of taxpayer dollars. This paper focuses on the 2012 Olympics in London and estimates their intangible benefits to Londoners, relative to Parisians and Berliners, in a quasi-natural experiment setting. We show that hosting the Olympics increases the subjective wellbeing of the host city's residents during the event and in the short-run. The effect, however, dissipates within a year and we find no legacy effect. We estimate the residents' implicit willingness-to-pay to be only about a tenth of the actual costs. These conclusions are based on difference-in-differences models and a novel panel of more than 26 thousand residents in London, Paris, and Berlin during the summers of 2011, 2012, and 2013.

Presenter

Christian Krekel is a Post-Doctoral Research Fellow at the Centre for Economic Performance, London School of Economics, and a Consultant at the World Bank and the OECD. He is an applied economist: his research fields are environmental and labour economics, policy and programme evaluation, and applied microeconometrics, with a particular focus on panel and spatial analysis. His PhD in Economics was completed at the Paris School of Economics in the autumn of 2017. Christian is primarily interested in how our natural, built, or organisational environment affects our lives – specifically our behaviour, health, and (ultimately) our well-being. His work is aimed at informing evidence-based policy on how to improve these outcomes in a cost-effective manner. For his work, he has been awarded the FEEM Award (Young Economist Award) by the European Economic Association.

Download the full seminar program here.

Event Details

Date:
14 November 2018 at 12:00 pm – 1:00 pm
Venue:
RB Scotton Room, 2nd floor, Room 278, 15 Innovation Walk, Clayton campus
Categories:
Health Economics

Description

The Centre for Health Economics invites you to a research seminar 'Quantifying the intangible impacts of mega events using subjective wellbeing data: The case of the 2012 Olympics in London' presented by Dr Christian Krekel, from London School of Economics.

No RSVP is required.

Abstract summary

To host the Olympic Games, governments are willing to spend billions of taxpayer dollars. This paper focuses on the 2012 Olympics in London and estimates their intangible benefits to Londoners, relative to Parisians and Berliners, in a quasi-natural experiment setting. We show that hosting the Olympics increases the subjective wellbeing of the host city's residents during the event and in the short-run. The effect, however, dissipates within a year and we find no legacy effect. We estimate the residents' implicit willingness-to-pay to be only about a tenth of the actual costs. These conclusions are based on difference-in-differences models and a novel panel of more than 26 thousand residents in London, Paris, and Berlin during the summers of 2011, 2012, and 2013.

Presenter

Christian Krekel is a Post-Doctoral Research Fellow at the Centre for Economic Performance, London School of Economics, and a Consultant at the World Bank and the OECD. He is an applied economist: his research fields are environmental and labour economics, policy and programme evaluation, and applied microeconometrics, with a particular focus on panel and spatial analysis. His PhD in Economics was completed at the Paris School of Economics in the autumn of 2017. Christian is primarily interested in how our natural, built, or organisational environment affects our lives – specifically our behaviour, health, and (ultimately) our well-being. His work is aimed at informing evidence-based policy on how to improve these outcomes in a cost-effective manner. For his work, he has been awarded the FEEM Award (Young Economist Award) by the European Economic Association.

Download the full seminar program here.

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