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Sports Arenas, Teams And Property Values: Temporary And Permanent Shocks To Local Amenity Flows, Yulia Chikish, Brad Humphreys, Adam Nowak
Sports Arenas, Teams And Property Values: Temporary And Permanent Shocks To Local Amenity Flows, Yulia Chikish, Brad Humphreys, Adam Nowak
Economics Faculty Working Papers Series
Professional sports facilities and teams generate local amenity flows in cities that may affect property values. Previous research shows evidence of important positive and negative local amenity flows based on case studies of changes in residential property values in specific cities. We analyze changes in residential property values in Oklahoma City over a period, 2000 to 2016, where both temporary and permanent exogenous shocks to local sports-related amenities occurred. Results from hedonic price models and repeat sales regression models show that nearby residential property prices increased after the opening of a new arena and the arrival of a new, permanent …
Evaluating Crime As A Negative Externality Of Hosting Mega-Events: Econometric Analysis Of The 2012 London Summer Olympics, Nicholas Le
Economics Faculty Working Papers Series
Analysis of the benefits and the drawbacks of hosting large-scale sporting events like the Olympics or World Cup frequently ignore the effects of crime due to its relatively small economic impact in comparison to employment and consumption effects. Literature has frequently tied sporting events and tourism to crime, in addition to observing proximity effects on crime during sporting events. This research seeks to confirm both by implementing a difference-in-difference regression that can show whether crime increased during the Olympics, in particular in London boroughs which hosted venues for the Games. Ultimately, the research concludes that crime in London as a …