The Olympics may end up having a permanent home in one or two cities.

Paris and Los Angeles will host the 2024 and 2028 Olympics.

But that's only after Hamburg, Rome, Budapest and Boston pulled their bids, due to the high costs of hosting the games.

Smith College economics professor and author Andrew Zimbalist told Larry Williams the International Olympics Committee has traditionally thrown open a competition to see which countries produce more facilities and fancier ones.

He said there's going to have to be some serious modification of that model.

"Perhaps it will result in only one or two cities being designated as permanent hosts for the games."

LISTEN ABOVE AS ANDREW ZIMBALIST SPEAKS WITH LARRY WILLIAMS