Cities considering hosting the Olympics should compare the financial risk with models applied to natural disasters, pandemics and war, a team of Oxford university researchers have warned.
The study, Regression to the tail: why the Olympics blow up, accuses the International Olympic Committee of playing down what the researchers argue are the unavoidable dangers of big cost overruns.
The report suggests would-be host cities should temper their ambitions by assuming their budgets for the games could rise threefold.
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