ECIN Replication Package for "Revisiting the novelty effect from new stadiums: An event study approach"

This repository contains includes all data files (.dta and
.csv) and Stata do-files needed to generate the estimates, tables, and figures reported in "Revisiting the novelty effect from new stadiums: An event study approach."<br><br>Abstract: This analysis examines the impact of new stadiums on consumer demand for sports spectatorship in the four major US-based professional sports leagues. Estimates from difference-in-differences (DiD) event studies identify a transitory attendance shock from new venues that diminishes to pre-stadium-treatment levels within a decade. The updated estimates confirm the existence of the novelty effect in modern facilities and identify subtle differences in magnitude, certainty, and duration across leagues. Revenue estimates indicate that the substantial financial returns from constructing new stadiums likely incentivize the premature replacement of host venues when combined with typical public subsidy levels.