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Smoke-free Ordinances Increase Restaurant Profit and Value

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  • Benjamin C. Alamar
  • Stanton A. Glantz
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    Abstract

    This study estimates the value added to a restaurant by a smoke-free policy using regression analysis of the purchase price of restaurants as a function of the presence of a smoke-free law and other control variables. There was a median increase of 16% (interquartile range 11% to 25%) in the sale price of a restaurant in a jurisdiction with a smoke-free law compared to a comparable restaurant in a community without such a law. This result indicates that contrary to claims made by opponents of smoke-free laws, these laws are associated with an increase in restaurant profitability. (JEL "I120", "H000", "D780") Copyright 2004 Western Economic Association International.

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    Bibliographic Info

    Article provided by Western Economic Association International in its journal Contemporary Economic Policy.

    Volume (Year): 22 (2004)
    Issue (Month): 4 (October)
    Pages: 520-525

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    Handle: RePEc:bla:coecpo:v:22:y:2004:i:4:p:520-525

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    Cited by:
    1. Jerome Adda & Samuel Berlinski & V. Bhaskar & Stephen Machin, 2011. "Market Regulation and Firm Performance: The Case of Smoking Bans in the UK," Economics Working Papers ECO2011/09, European University Institute.
    2. Silvia Tiezzi, 2009. "The Economic Impact of Clean Indoor Air Laws: A Review of Alternative Approaches and of Empirical findings," Department of Economics University of Siena 570, Department of Economics, University of Siena.
    3. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2010. "Impact of Non-smoking Ordinances on Hospitality Revenues: The Case of Germany," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 230(5), pages 506-521, October.

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