Winning pays: High school football championships and property values |
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Authors: | Andrew I Friedson Alexander N Bogin |
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Institution: | 1. University of Colorado Denver, United States;2. Federal Housing Finance Agency, United States |
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Abstract: | A large literature explores the effect of schooling characteristics on property values, but touches little on non-academic attributes of schools. This study demonstrates the capitalization of high school football championships into school district property values using a model that controls for a series of fixed effects. Winning a state football championship increases property values by 1.65% in the year following the championship, exerting its strongest effect immediately after the championship is won. The effect is biggest in the AA division; the largest and most competitive division. |
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