The Olympic Bid Cycle as a form of irrational investing: An application of Minskyian theory

@article{Zehndorfer2017TheOB,
  title={The Olympic Bid Cycle as a form of irrational investing: An application of Minskyian theory},
  author={Elesa Zehndorfer and Chris Mackintosh},
  journal={Cogent Social Sciences},
  year={2017},
  volume={3}
}
Abstract Host city bidding for the Olympic Games appears to constitute a form of pro-cyclical irrational investing that leads to multi-billion dollar economic and financial shortfalls and budget over-runs with 100% consistency. The utilisation of Minsky’s Financial Instability Hypothesis (FIH) and Credit Cycle to the Olympic Bid Cycle sheds valuable light on the irrationality of these practices, highlighting a move from stable (hedge) to unstable (speculative) and unsustainable, precarious… 

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