Smoke‐free Ordinances Increase Restaurant Profit and Value

Benjamin C. Alamar and Stanton A. Glantz

Contemporary Economic Policy, 2004, vol. 22, issue 4, 520-525

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)

Date: 2004
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