References
There are literally hundreds of papers, reports, and articles on altitude training.  Google Scholar reveals about 1200 scholarly articles with the search key
"altitude training" as of this writing.  This page represents a small sampling of those articles, mainly experimental studies with groups of athletes.
Please note: Although we try to keep this page up-to-date, because it contains links to external sites that may change at any time, you may discover some
dead links.

Books
Altitude Training and Athletic Performance by Randall L. Wilber.

Reviews and Summary Articles
Altitude Training for Sea-Level Competition, Baker and Hopkins,  Sportscience Training & Technology, 1998.  Reviewed 17 independent studies,
"Enhancement for the average athlete is 2-3%"

Interval Hypoxic Training.  Bernardi,  Adv Exp Med Biol. 2001.  "IHT increases the hypoxic ventilatory response, increase red blood cell count and increase
aerobic capacity ... but still largely to be explored for its mechanisms, potentials and limitations."

Scientific Studies
Improved Running Economy in Elite Runners After 20 Days of Simulated Moderate-Altitude Exposure.
Saunders et al. J Appl Physiol. 2004.  Average improvement of 3.3% in running economy (decrease in oxygen demand) at moderate running speeds after
20 days of Live High-Train Low training in elite distance runners.

Living High-Training Low: Effect on Red Cell Mass and Aerobic Performance in Elite Middle-Distance Runners [PDF] P. Robach et al., 2004 (Abstract #13).  
"18 days of living high-training low induced a net increase of 5% in aerobic performance, which tended to persist 15 days after the end of training."

Living High-Training Low: Effect of Moderate-Altitude Acclimatization with Low-Altitude Training on Performance, B. Levine and J. Stray-Gundersen, Journal
of Applied Physiology, 1997.
  Significantly increased VO2 Max (5%), red cell mass (9%),  and 3.9% improvement in 5K time.

A Three-Week Traditional Altitude Training Increases Hemoglobin Mass and Red Cell Volume in Elite Biathlon Athletes, Heinicke et al.  Intl. J. of Sports
Medicine, 2005.   
"We show for the first time that a three-week traditional altitude training increases erythropoietic [EPO] activity [by 76%] even in world class
endurance athletes...leading to increased red blood cell volume"

Intermittent Hypoxia Improves Endurance Performance and Submaximal Exercise Efficiency, K. Katayama et al., High Altitude Medicine & Biology, 2003.  
"Intermittent hypoxia at rest could improve endurance performance and submaximal exercise efficiency at sea level in trained endurance athletes"

Training-Induced Increases in Sea-Level Performance are Enhanced by Acute Intermittent Hypobaric Hypoxia. Meeuwsen et al.  Eur J Appl Physiol. 2001.  
Study of elite male triathletes.  
"A significant increase of 7.0% was seen in the mean maximal oxygen uptake per kilogram body weight (VO2max), and the
mean maximal power output per kilogram body weight (Wmax) increased significantly by 7.4%."

Intermittent Hypoxic Training: Fact and Fancy.  Levine, High Alt Med Biol. 2002.  "Living high-training low has been shown to improve sea-level endurance
performance, [while] the opposite strategy, living low-training high, leads to the opposite effect - reduced speeds, reduced power output, reduced oxygen
flux"
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