Popularity and visibility appraisals for computing Olympic medal rankings

Abstract

[Abstract]: The ranking of countries in Olympic Games generates a great deal of interest among analysists, academics, and fans. This paper proposes an innovative approach to provide Olympic medals (gold, silver, and bronze) with different weights based on metrics of popularity and media visibility and create an alternative historical ranking. The analysis uses “Google Trends” and “Merit” appraisals to capture contents and news articles in the Internet that relates to the different types of metals. Figures on weekly relative search intensity in Google and contents in the Internet registered monthly, are used to track changes over time and thus to control for differences between Summer and Winter Olympic Games. The results show that gold medals gather far more attention than silver and bronze medals. By applying the estimated multiplying factors, we create an alternative historical ranking of countries that shows some relevant changes. The use of weights based on popularity and visibility has managerial implications and open new avenues for future research.