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Month: August 2016

Olympic medals, economic power and population size

The 2016 Rio Olympic games being officially over, we can obsess as much as we like with the final medal table, without the distraction of having to actually watch any sports. One of the basic questions to ponder about the medal table is to what extent Olympic glory is determined by the wealth, economic power and population size of the countries. Many news outlets quickly calculated the ratios of the 2016 medal count with economic power and population size per country and presented the rankings of ‘medals won per billion of GDP’ and ‘medals won per million of population’ (for example here and here). But while these rankings are fun, they give us little idea about the relationships between economic power and population size, on the one hand, and Olympic success, on the other. Obviously, there are no deterministic links, but there could still be systematic relationships. So let’s see. Data I pulled from the Internet the total number of medals won at the 2016 Olympic games and assigned each country a score in the following way: each country got 5 points for a gold medal, 3 points for silver, and 1 point for bronze. (Different transformations of medals into points are of course possible.) To measure wealth and economic power, I got the GDP (at purchasing power parity) estimates for 2015 provided by the International Monetary Fund, complemented by data from the CIA Factbook (both sets of numbers available here). For population size, I used the Wikipedia list available…