Canada wins the Olympics according to economics

Congratulations, Canucks — you did it! You won the most total medals and the most gold medals in this year's Olympics. At least according to Colorado College economics professor Daniel Johnson's complicated formulas. That counts, right?

Johnson's formula factors in 60 years of Olympic results, population, per capita income, climate, and the political structure of the country to determine medal count, while mostly discounting anything about the individual athletes. Since the 2000 Games, Johnson's predictions have been 94% accurate for total medal count, and 87% correct for golds.

This year, Johnson is calling for 27 medals for the Canadians (five golds), with the U.S. and Norway coming in next with 26 medals apiece (five and four golds, respectively). Take that, Norway.

Johnson, who is a citizen of both the U.S.A. and Canada, says that hosting the Olympics is a major advantage stating, "The home-field advantage is not trivial. That's why we structure playoffs the way we do." And furthermore, "It's probably the single most important factor, if considered individually." Johnson considers this such a significant advantage because the hosts enjoy an enthusiatic crowd, more time to train at Olympic facilities, and most important, tons of money being pumped in to the programs so that the country looks good on its international stage.

There's even better news for Canadians. In both the 2006 and 2008 Olympics, Johnson under-predicted the Canadian medal count by a combined eight medals and three golds. In other words, now is a good time to buy stock in some Canadian Cash 4 Gold franchises.