Home Warranties: An Analysis of an Emerging Development in Consumer Protection

Although warranty coverage on consumer products is a universally accepted form of protection, the extension of similar coverage to buyers of new and used homes is a developing practice. Home warranties serve a dual purpose: they reduce a homebuyer's risk of substantial financial loss, and protect the builder, seller or real estate vendor from legal liability should undisclosed material defects occur after a sale. In an effort to examine consumer reactions to home warranties, a mail survey was conducted of recent purchasers residing in four central counties of New York State. It was found that two-thirds of the 571 single-family homeowners who responded were aware of warranties on new housing and 97 percent were in favor of such coverage. Only 22 percent were aware of warranties for resale homes and 56 percent favored such coverage. Unexpected defects costing more than $100 were experienced by 55 percent of the sample. However, only 27 percent of the sample had defects which were warrantable under most current warranty programs.     

Impact of league restructuring on team sport attendances: the case of rugby league

An econometric analysis of attendances at Rugby Footbal League matches, in England, over the period 1966–1990 is presented. The major finding is that the move from one to two leagues, in 1973, had a substantial impact on attendances. Teams in the upper league experienced greater attendances ceteris paribuswhilst those in the lower league had reduced attendances.