NASCAR as a Public Good (PDF; 201 KB)
Source: North American Association of Sports Economists

This paper evaluates the impact of NASCAR on the communities that have tracks and host races of the three most prominent series, Cup, Grand National, and Truck. We estimate models in which the rent on housing units is determined by characteristics of the house or apartment, of the neighborhood, and of the standard metropolitan statistical area. The evidence is that tracks and races are significant determinants of rents, especially on non-central city housing units. For those units, a track raises rents from 5 to 8%, a Cup series races raises it an additional 13%, a Grand National race about 6%. Truck races are associated with a small reduction in rents of about 2.5%.

This entry was posted on Wednesday, July 4th, 2007 at 9:27 am and is filed under Business and economics, Housing and real estate, Professional sports. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.