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Short answer: because it doesn't JIT

That's a lossy short answer. LuaJIT with JIT turned off still runs circles around CPython.

Even normal Lua is fast compared to Python, if the shootout games are any bit accurate.

http://benchmarksgame.alioth.debian.org/u64/benchmark.php?te...

You are told how the measurements were made -- Are the benchmarks game measurements accurate?

I think these questions are more to the point: Were the Python programmers as skilled as the Lua programmers? Do the programs do anything like the things your programs do?

True.

So, with element of answer 1) ruled out as Lua is also dynamic, and 2) ruled out by your evidence, remains

3. Python's object model can lead to inefficient memory access

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