College football attendance in the long run: The Football Championship Subdivision

Abstract

A balanced panel (61 Football Championship Subdivision (FCS) football teams over
38 years) is used to estimate four regression models using time series and panel
methods and identify variables that drive per-game season attendance. Variables are
either stationary or co-integrated. Most coefficients are consistent across models:
season win percentage, lifetime win percentage, undergraduate enrollment, and real
gas price per mile driven were positive while real state per capita income exerted a
negative impact. Unexpectedly, FCS games are inferior goods and greater travel costs
raise attendance. Other coefficients displayed inconsistent results: playoff appearances in the last 10 years, county population, and state unemployment rate.

Keywords: college football, attendance, time series, panel regression

JEL Classification: L83, D12