Yale University

Every summer, the New York Thoroughbred Horsemen's Association (NYTHA) takes in a small gaggle of college-age interns--what for many of them proves a baptism of the turf. This year's batch--three Yale undergrads studying economics, electrical engineering and political science--were tasked with a data-driven analysis of the economics of the national horse racing biz over the past 20 years. Harboring no previous relationship with the industry, the three undergrads came in free of prejudice and preconceptions. The result is a 33-page paper weaving piercing and worrying insights into the state of...