A model used for successfully predicting Beijing Olympics’ medal wins is adapted to check whether economic variables could be good predictors of soccer World Cup outcomes. Some ‘footballistic’ variables must be added with regard to predicting the outcome of a single sport discipline contest. The model does not perform as well with the soccer World Cup as with the Olympics. This is owing to surprising sporting outcomes, a notion not previously analysed. The chapter elaborates on such notion and suggests a simple metrics, then concludes that economic predictions of sporting performances must be treated with caution.
Edited by Wladimir Andreff and Stefan Szymanski
This comprehensive Handbook provides a survey of all the major research areas in sports economics written by almost all of the active researchers in this field. It offers not only an accessible insight into the major findings of the literature but also presents some of the world’s principal researchers’ views on the unanswered questions that face us today.