Why do governments and networks pay so much more for Olympics than they are worth? Rational economic theory would say there are other measurable benefits (promoting tourism, promoting other TV shows, etc). But I think there’s also irrational hubris as work.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted by Philip Emmanuele, July 2012