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Full-Text Articles in Other Economics

Beach And Surf Tourism And Recreation In Australia: Vulnerability And Adaptation, Michael Raybould, David Anning, Dan Ware, Neil Lazarow Nov 2013

Beach And Surf Tourism And Recreation In Australia: Vulnerability And Adaptation, Michael Raybould, David Anning, Dan Ware, Neil Lazarow

Michael Raybould

No abstract provided.


Beach, Sun And Surf Tourism, Neil Lazarow, Michael Raybould, David Anning Nov 2013

Beach, Sun And Surf Tourism, Neil Lazarow, Michael Raybould, David Anning

Michael Raybould

Beaches are arguably the most valuable of coastal tourism assets. Around beaches, communities develop and tourism markets expand, often resulting in intimate human interaction with diverse environments. This chapter provides an overview of economic research on beach and surf recreation and tourism in existing and expanding markets, including a description of the techniques most commonly used to estimate the economic impact and value of beach recreation and some of the challenges around developing accurate estimates of use and value. Better understanding of the drivers and values for beach and surf tourism is an important consideration for optimal management of coastal …


Beaches As Societal Assets: Council Expenditure, Recreational Returns, And Climate Change, Boyd Blackwell, Michael Raybould, Neil Lazarow Nov 2013

Beaches As Societal Assets: Council Expenditure, Recreational Returns, And Climate Change, Boyd Blackwell, Michael Raybould, Neil Lazarow

Michael Raybould

Drawing on expenditure and survey data from the Gold and Sunshine Coasts in Queensland, Australia, this chapter compares expenditures on beaches relative to their recreational benefits. Beaches are found to be exceptional investments. The comparison of the two councils also provides insights into their relative capacity to adapt to the adverse impacts of climate change. The Gold Coast can rely to some extent on historical large investments in infrastructure to defend itself against change. In contrast, the Sunshine Coast has more options which may lower the cost of adaptation e.g., it can rely more heavily on retreating from change in …


Behavioural Responses To Beach Erosion And Climate Change, David Anning, Michael Raybould, Dan Ware, Neil Lazarow Nov 2013

Behavioural Responses To Beach Erosion And Climate Change, David Anning, Michael Raybould, Dan Ware, Neil Lazarow

Michael Raybould

No abstract provided.


Is A Wide Beach More Valuable? -The Impact Of The Tweed River Entrance Sand Bypass Project On Nearby Property, Dan Ware, David Anning, Michael Raybould, Neil Lazarow, Rodger Tomlinson Nov 2013

Is A Wide Beach More Valuable? -The Impact Of The Tweed River Entrance Sand Bypass Project On Nearby Property, Dan Ware, David Anning, Michael Raybould, Neil Lazarow, Rodger Tomlinson

Michael Raybould

No abstract provided.


Valuing Beach And Surf Tourism And Recreation In Australian Sea Change Communities, David Anning, Dan Ware, Michael Raybould, Neil Lazarow Nov 2013

Valuing Beach And Surf Tourism And Recreation In Australian Sea Change Communities, David Anning, Dan Ware, Michael Raybould, Neil Lazarow

Michael Raybould

Many of Australia’s iconic sandy beaches are already under pressure due to coastal development and the impacts of severe storm or flood events. These impacts are likely to be exacerbated by projected climate changes such as elevated water levels and potentially increased storm intensity. Beaches provide important recreation services for both residents and tourists but few studies in Australia have attempted to place economic values on this service. Thus, coastal authorities that are forced to make investment decisions relating to beach protection and restoration have insufficient data to conduct cost-benefit evaluations of projects where recreation values are significant. This paper …


Estimating Consumer Surplus Values For Beach Recreation In Australia Using Travel Cost Methods, Michael Raybould, David Anning, Dan Ware, Neil Lazarow Nov 2013

Estimating Consumer Surplus Values For Beach Recreation In Australia Using Travel Cost Methods, Michael Raybould, David Anning, Dan Ware, Neil Lazarow

Michael Raybould

No abstract provided.


Patent Value And Citations: Creative Destruction Or Strategic Disruption?, David S. Abrams, Ufuk Akcigit, Jillian Popadak Nov 2013

Patent Value And Citations: Creative Destruction Or Strategic Disruption?, David S. Abrams, Ufuk Akcigit, Jillian Popadak

All Faculty Scholarship

Prior work suggests that more valuable patents are cited more and this view has become standard in the empirical innovation literature. Using an NPE-derived dataset with patent-specific revenues we find that the relationship of citations to value in fact forms an inverted-U, with fewer citations at the high end of value than in the middle. Since the value of patents is concentrated in those at the high end, this is a challenge to both the empirical literature and the intuition behind it. We attempt to explain this relationship with a simple model of innovation, allowing for both productive and strategic …


The "Play-Out" Effect And Preference Reversals: Evidence For Noisy Maximization, Joyce E. Berg, John Dickhaut, Thomas A. Rietz Oct 2013

The "Play-Out" Effect And Preference Reversals: Evidence For Noisy Maximization, Joyce E. Berg, John Dickhaut, Thomas A. Rietz

Accounting Faculty Articles and Research

In this paper, we document a "play-out" effect in preference reversal experiments. We compare data where preferences are elicited using (1) purely hypothetical gambles, (2) played-out, but unpaid gambles and (3) played-out gambles with truth-revealing monetary payments. We ask whether a model of stable preferences with random errors (e.g., expected utility with errors) can explain the data. The model is strongly rejected in data collected using purely hypothetical gambles. However, simply playing-out the gambles, even in the absence of payments, shifts the data pattern so that noisy maximization is no longer rejected. Inducing risk preferences using a lottery procedure, using …


Human Economic Choice As Costly Information Processing, John Dickhaut, Vernon L. Smith, Baohua Xin, Aldo Rustichini Oct 2013

Human Economic Choice As Costly Information Processing, John Dickhaut, Vernon L. Smith, Baohua Xin, Aldo Rustichini

Accounting Faculty Articles and Research

We develop and test a model that provides a unified account of the neural processes underlying behavior in a classical economic choice task. The model describes in a stylized way brain processes engaged in evaluating information provided by the experimental stimuli, and produces a consistent account of several important features of the decision process in different environments: e.g., when the probability is specified or not (ambiguous choices). These features include the choices made, the time to decide, the error rate in choice, and the patterns of neural activation. The model predicts that the further two stimuli are from each other …


Puppy Mill Closure: The Economic Impact On A Local Community, The Humane Society Of The United States Aug 2013

Puppy Mill Closure: The Economic Impact On A Local Community, The Humane Society Of The United States

PUPPY MILL REPORTS

When a substandard dog-breeding facility (a puppy mill) closes, removing the dogs can drain the financial resources of a community, local animal welfare entities, and large humane organizations. Towns rarely derive any benefit from puppy mills, as they employ few staff, often don’t pay required taxes or license fees, generate much animal waste and pollution, and cause unpleasant odors and noise. Once a major puppy mill enterprise is discovered, many communities don’t have the necessary resources to handle the situation. Prevention is the key, and communities should discourage large scale breeding facilities from locating in their area.


Corporate Humanitarian Partnerships, Rebecca C. Keyes May 2013

Corporate Humanitarian Partnerships, Rebecca C. Keyes

Chancellor’s Honors Program Projects

No abstract provided.


The Existence Of State Dependence And Switching Costs In The Transition From Myspace To Facebook, Taryn M. Ohashi Apr 2013

The Existence Of State Dependence And Switching Costs In The Transition From Myspace To Facebook, Taryn M. Ohashi

Scripps Senior Theses

In this paper, I examine the existence and roles of state dependence and switching costs in the mass transition from MySpace to Facebook during the 2007-2008 time period. Using a dataset that compiles individual browsing behavior and a discrete multinomial logit model, I find precise, yet extremely small amounts of state dependence for users of only MySpace, of only Facebook, and users of both MySpace and Facebook. Positive state dependence directly implies the existence of switching costs for each firm. While there is an abundance of literature regarding switching costs in the brick and mortar setting with tangible products and …


Preventing Money Laundering: Key To A Better World, Brenda Martinez Mar 2013

Preventing Money Laundering: Key To A Better World, Brenda Martinez

Undergraduate Theses and Capstone Projects

Money laundering has developed over recent decades and has evolved into a worldwide phenomenon. Virtually every country in the world is affected by money laundering. The methodology of money laundering exists in every fraud scheme. It involves the concealed transfer of assets by masking them in the ordinary normalcy of financial transactions. Money laundering is a criminal enterprise, with the emphasis on the business aspect. The attraction of perpetrators into the money laundering business is profit with little perceived risks. This paper discusses money laundering, how to define it, its origins, the cycle, its effects, prevention methods, and what the …


Not-So-Strong Evidence For Gender Differences In Risk, Julie Nelson Jan 2013

Not-So-Strong Evidence For Gender Differences In Risk, Julie Nelson

Julie A. Nelson

In their article "Strong Evidence for Gender Differences in Risk Taking," Gary Charness and Uri Gneezy (2012) review a number of experimental studies regarding investments in risky assets, and claim that these yield strong evidence that females are more risk averse than males. This study replicates and extends their article, demonstrating that its methods are highly problematic. While the methods used would be appropriate for categorical, individual-­‐level differences, the data reviewed are not consistent with such a model. Instead, modest differences (at most) exist only at aggregate levels, such as group means. The evidence in favor of gender difference is …


Wat Is Coöperatief Ondernemen?, Lieve Jacobs, Wim Van Opstal Jan 2013

Wat Is Coöperatief Ondernemen?, Lieve Jacobs, Wim Van Opstal

Wim Van Opstal

De discussie van wat een echte coöperatie is en hoort te zijn, is haast zo oud als de coöperatieve beweging zelf en lijkt soms wel op de zoektocht naar de heilige graal. Toch beschikt de internationale coöperatieve beweging, vertegenwoordigd door de Internationale Coöperatieve Alliantie (ICA), over een referentiekader met een gemeenschappelijke definitie, principes en waarden. Dit referentiekader is zelf het compromis tussen vele verschillende visies en stromingen binnen het coöperatieve denken. Net daarom is het verstandig om dit eerder als een kompas in plaats van als een keurslijf te beschouwen. In deze bijdrage illustreren we de praktische grondslagen en gevolgen …


Coöperaties In België. Top 100 Van De Grootste Belgische Coöperatieve Vennootschappen In 2011, Wim Van Opstal Jan 2013

Coöperaties In België. Top 100 Van De Grootste Belgische Coöperatieve Vennootschappen In 2011, Wim Van Opstal

Wim Van Opstal

In deze publicatie presenteren we de top 100 van de grootste Belgische coöperatieve vennootschappen in 2011. We bespreken de grootste coöperaties volgens hun economische activiteit en geven zo een venster op de rijke diversiteit aan coöperatieve initiatieven in ons land.


The Organization Of Banking And Supervision, Introduction And Overview, Clas Wihlborg Jan 2013

The Organization Of Banking And Supervision, Introduction And Overview, Clas Wihlborg

Business Faculty Articles and Research

"The focus of this Special Issue is on organizational reforms in the financial sector in the aftermath of the financial crisis 2007-2009 and the subsequent euro-zone crisis. In particular, the perception that many banks were too big and too complex to fail during the crisis, which led to very costly bailouts at tax-payers expense in several countries, has fueled a number of proposals to limit the size and the complexity of financial institutions, as well as proposals to reorganize public authorities responsible for supervision and crisis management."


An Empirical Analysis Of Differences In Environmental Transparency Across Firms, Sean Robert Smith Jan 2013

An Empirical Analysis Of Differences In Environmental Transparency Across Firms, Sean Robert Smith

CMC Senior Theses

In recent years, many firms have voluntarily taken actions to gradually increase the transparency of their corporate social responsibility (CSR) efforts. Using data on a sample of U.S. firms, this paper empirically examines the factors that encourage firms to choose different levels of CSR transparency. This adds to the previous literature that has focused only on the binary decision to engage or not to engage in CSR, as opposed to the extent and comprehensiveness of voluntary CSR reporting. Environmental transparency data are collected from the Roberts Environmental Center (REC) at Claremont McKenna College, while data for firm characteristics and toxic …


Portfolio Company Selection Criteria: Accelerators Vs Venture Capitalists, Cody Chang Jan 2013

Portfolio Company Selection Criteria: Accelerators Vs Venture Capitalists, Cody Chang

CMC Senior Theses

The explosive growth of ‘accelerators’ in the United States has given entrepreneurs and their startups the opportunity to pursue seed-stage financing. While the specific economic role of accelerators remains unclear, a study comparing the selection of portfolio companies between accelerators and venture capitalists was performed. A difference of means was performed on the responses per question between the collected 19 accelerators’ response and the 100 venture capitalists’ response, recorded from a prior study. It is found that venture capitalists place significantly more weight, than accelerators, on the potential of the startup’s product or service to be proprietary, to enter a …


The Power Of Stereotyping And Confirmation Bias To Overwhelm Accurate Assessment: The Case Of Economics, Gender, And Risk Aversion, Julie A. Nelson Dec 2012

The Power Of Stereotyping And Confirmation Bias To Overwhelm Accurate Assessment: The Case Of Economics, Gender, And Risk Aversion, Julie A. Nelson

Julie A. Nelson

Behavioral research has revealed how normal human cognitive processes can tend to lead us astray. But do these affect economic researchers, ourselves? This article explores the consequences of stereotyping and confirmation bias using a sample of published articles from the economics literature on gender and risk aversion. The results demonstrate that the supposedly “robust” claim that “women are more risk averse than men” is far less empirically supported than has been claimed. The questions of how these cognitive biases arise and why they have such power are discussed, and methodological practices that may help to attenuate these biases are outlined.