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dc.contributor.authorAdda, Jeromeen
dc.contributor.authorBerlinski, Samuelen
dc.contributor.authorBhaskar, V.en
dc.contributor.authorMachin, Stephenen
dc.date.accessioned2010-02-23-
dc.date.accessioned2011-07-04T09:18:59Z-
dc.date.available2011-07-04T09:18:59Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/47474-
dc.description.abstractThis paper analyzes the effects of a ban on smoking in public places upon firms and consumers. It presents a theoretical model and tests its predictions using unique data from before and after the introduction of smoking bans in the UK. Cigarette smoke is a public bad, and smokers and non-smokers differ in their valuation of smoke-free amenities. Consumer heterogeneity implies that the market equilibrium may result in too much uniformity, whereas social optimality requires a mix of smoking and non-smoking pubs (which can be operationalized via licensing). If the market equilibrium has almost all pubs permitting smoking (as is the case in the data) then a blanket ban reduces pub sales, profits, and consumer welfare. We collect survey data from public houses and find that the Scottish smoking ban (introduced in March 2006) reduced pub sales and harmed medium run profitability. An event study analysis of the stock market performance of pub-holding companies corroborates the negative effects of the smoking ban on firm performance.en
dc.language.isoengen
dc.publisher|aInstitute for Fiscal Studies (IFS) |cLondonen
dc.relation.ispartofseries|aIFS Working Papers |x09,13en
dc.subject.jelI18en
dc.subject.jelH23en
dc.subject.jelL51en
dc.subject.jelL81en
dc.subject.ddc330en
dc.subject.keywordregulationen
dc.subject.keywordsmoking banen
dc.subject.keywordmarket provision of qualityen
dc.subject.keywordsalesen
dc.subject.keywordpricesen
dc.subject.keywordprofitabilityen
dc.subject.keywordstock market performanceen
dc.subject.stwRauchenen
dc.subject.stwGesellschaftliches Bewusstseinen
dc.subject.stwGastronomieen
dc.subject.stwUnternehmensentwicklungen
dc.subject.stwGroßbritannienen
dc.titleMarket regulation and firm performance: the case of smoking bans in the UK-
dc.typeWorking Paperen
dc.identifier.ppn607854502en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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