The Peltzman Effect is a well known and controversial theory in the literature. Studies have struggled to find a dataset that can accurately test for the presence of the effect. We have created a unique dataset and use a natural experiment from the sport of stock car racing to test the theory. Using race-level data from NASCAR events, we find strong evidence that a major safety regulation has led to more on-track accidents and an increased risk to both spectators and pit crew members.FYI: If you were wondering how this differed from a 2007 paper by Nesbit and Sobel, according to footnote 5, page 5, the Pope and Tollison dataset covers the implementation of the HANS device.
Thursday, October 29, 2009
More Peltzman Effects in NASCAR
From Public Choice, "Rubbin' is Racin'" by Pope and Tollison:
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3 comments:
Geez, that's sufficient for a "contribution" these days??
Maybe my FYI was misleading. I wondered how it was different and that was where I found the answer.
Pope and Tollison primarily focus on the HANS device in the paper, saying that it is a "radical and discrete safety improvement." Apparently, Nebit & Sobel paper did not have the HANS implementation in it.
So, its selling point was probably the focus on a big discrete change + the fact it replicates results by other authors.
Best,
JR
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