Bloomberg Businessweek cited a paper from the Journal of Economic Perspectives in a column about why cities no longer want to host the Olympics. The spring 2016 paper, coauthored by Robert Baade and Victor Matheson, says that host cities usually lose money on the Olympics because the revenue-generating benefits, such as sponsorships, do not cover the infrastructure and administration costs. In fact, hosting the Olympics can halt economic growth rather than spur it, the authors say. With this costly possibility, it is no surprise that four cities backed out of their bids for the 2024 summer games, narrowing down the contenders to Los Angeles and Paris.