Business Commons^™

Prediction Markets To Forecast Electricity Demand, Peter Cramton, Luciano De Castro

Luciano I. de Castro

Forecasting electricity demand for future years is an essential step in resource planning. A common approach is for the system operator to predict future demand from the estimates of individual distribution companies. However, the predictions thus obtained may be of poor quality, since the reporting incentives are unclear. We propose a prediction market as a form of forecasting future demand for electricity. We describe how to implement a simple prediction market for continuous variables, using only contracts based on binary variables. We also discuss specific issues concerning the implementation of such a market.

Felicidad Nacional Bruta (Fnb), Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Town Of Ludlow Master Plan. Part Ii: Envisioning 2030, Rachael Cain, Euripedes De Oliveria, Paul W. Gagnon, Peter Gillo, Meredith Hill, Mark Kresge, Alyssa Larose, Walter Ramsey, Joshua Rickman, Sonya C. Smith, Ryan Wallace, Rebecca Williams

Landscape Architecture & Regional Planning Studio and Student Research and Creative Activity

The Master Plan Committee for the town of Ludlow contracted with the Pioneer Valley Planning Commission (PVPC) to prepare a new Master Plan. PVPC engaged the Department of Landscape Architecture and Regional Planning (LARP) at the University of Massachusetts Amherst to assist with a portion of the Master Plan work. This work included: executing analysis and assessment of existing community conditions, conducting a weekend visioning workshop, and developing land use scenarios for the purpose of providing concrete visualization of possible futures for the Town of Ludlow in 2030.

Entre Chile Y Venezuela, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

How Demanding Should Equality Of Opportunity Be, And How Much Have We Achieved?, Valentino Dardanoni, Gary S. Fields, John E. Roemer, Maria Laura Sánchez Puerta

Gary S Fields

[Excerpt] This chapter proposes tests of various notions of equality of opportunity and applies them to intergenerational income data for the United States and Britain. Agreement is widespread that equality of opportunity holds in a society if the chances that individuals have to succeed depend only on their own efforts and not on extraneous circumstances that may inhibit or expand those chances. What is contentious, however, is what constitutes "effort" and "circumstances." Most people, we think, would say that the social connections of an individual's parents would be included among circumstances: equality of opportunity is incomplete if some individuals get …

Organizational Values, Social Responsibility, And Corporate Citizenship: The Case Of Nevada State College, Grace S. Thomson

Dr. Grace S. Thomson

Organizational Values, Social Responsibility, and Corporate Citizenship Organizations contribute more than products and services to the society. The generation of jobs, creation of wealth and satisfaction of needs are only a portion of the influence that organizations have in a community. Likewise, organizations are increasingly engaging in social responsible initiatives to respond to the concerns of their various stakeholders (Aguilera, Rupp, Williams, & Ganapathi, 2007). Organizations with a genuine interest for social responsibility and citizenship possess value systems that articulate and integrate these social motives into their corporate strategy (Graber & Kilpatrick, 2008). Higher education institutions in the United States …

Malos Augurios, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Sportsbook Pricing And The Behavioral Biases Of Bettors In The Nhl, Rodney Paul, Andrew Weinbach

Rodney J. Paul

The betting market for the NHL is investigated using actual betting percentages on favorites and underdogs from real sportsbooks. Sportsbooks do not appear to attempt to price to balance the book as betting percentages are not proportional to set odds. As in the NFL and NBA, bettors are shown to have a strong preference for favorites and road favorites in particular. Simple strategies of betting against significant imbalances toward the favorite are shown to generate positive returns. Although not pricing to balance the book, sportsbooks do not appear to price to exploit known bettor biases in all cases. Clear bettor …

Sportsbook Pricing And The Behavioral Biases Of Bettors In The Nhl, Rodney Paul, Andrew Weinbach

Falk College Research Center

The betting market for the NHL is investigated using actual betting percentages on favorites and underdogs from real sportsbooks. Sportsbooks do not appear to attempt to price to balance the book as betting percentages are not proportional to set odds. As in the NFL and NBA, bettors are shown to have a strong preference for favorites and road favorites in particular. Simple strategies of betting against significant imbalances toward the favorite are shown to generate positive returns. Although not pricing to balance the book, sportsbooks do not appear to price to exploit known bettor biases in all cases. Clear bettor …

Smes, Open Innovation And Ip Management: Advancing Global Development, Stanley P. Kowalski

Law Faculty Scholarship

[Excerpt] Micro-Small-Medium Enterprises (abbreviated herein henceforth as “SMEs”) are global drivers of technological innovation and economic development. Perhaps their importance has been somewhat eclipsed by the mega-multinational corporate entities. However, whereas the corporations might be conceptualized as towering sequoia trees, SMEs represent the deep, broad, fertile forest floor that nourishes, sustains and regenerates the global economic ecosystem.

[. . .]

Broadly recognized as engines of economic and global development, SMEs account for a substantial proportion of entrepreneurial activity in both industrialized and developing countries. Indeed, their role as dynamos for technological and economic progress in developing countries is critical and …

Portable Bank Account, Vijaya Krushna Varma Mr

VIJAYA KRUSHNA VARMA Mr

Varma suggests radical bank reforms to usher in fully liberalized and transparent economic system. The time has come to radically reform banking sector to the ultimate level where there will be no NPAs, unemployment, black money, fake currency, economic recession and corruption. The government should liberalise the banking sector to establish a bank branch at every village or colony having population of 2500 so that each bank shall handle approximately 2000 accounts. The main objectives of fully liberalised banking sector are as follows* To give every citizen above the age of 15 years a portable bank savings account with permanent …

Ser Útil Para El Mundo, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

A Public Lecture: Labour Markets And Economic Development, Gary S. Fields

Gary S Fields

[Excerpt] I want to put forward three propositions to you based on decades of work in Asia, Latin America, and Africa. First, economic development can be (but need not be) a win-win-win situation - for businesses, for individuals and groups of individuals, and for governments and non- governmental organisations (NGOs). Second, the labour market can (but need not) serve as an effective mechanism for contributing to economic growth and for transmitting the gains from economic growth. And third, in both of these areas, whether a country experiences the more favorable set of outcomes or the less favorable ones reflects a) …

Investigating The Economic Footprint Of Cultural Tourism In Aruba, Robertico R. Croes

Dick Pope Sr. Institute Publications

Aim: The purpose of this study is to assess the economic impact of the cultural tourism market in Aruba and determine whether cultural tourism could enhance the Aruba product. Design: 386 intercept surveys to international tourists at the Reina Beatrix Airport were conducted by the Central Bureau of Statistics of Aruba during the month of July, 2009. The survey design was the result of a series of focus groups with industry and local cultural stakeholders. The data collected was assessed with SPSS 17 by the researcher to identify the segments and their spending behavior. Based on their spending behavior, an …

Ua37/29 Gary Ransdell - Fed. Reserve Board - Ben Bernanke Confirmation Hearing Q&A, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Question and answers from Ben Bernanke's confirmation hearing as distributed to members of the St. Louis Federal Reserve Board.

A Pitch For Microfinance: Using An Animation To Promote An Economic Movement, Yelena Kozlova

Art and Design

Microfinance refers to the idea of providing financial services to low-income clients. The purpose of this project was to create an animation using Adobe Flash that could be published online to inform the public about microfinance and to encourage the viewers to take part in this movement.

Florecimiento Económico De Europa Oriental Después De La Caída Del Muro De Berlín, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

¿Por Qué Hay Empresas Triunfadoras Y Fracasadas?, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

La Economía Ecuatoriana Frente A La Peruana Y Otras, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Clusters And Strategy In Regional Economic Development, Edward Feser

Edward J Feser

Many economic development practitioners view cluster theory and analysis as constituting a general approach to strategy making in economic development, which may lead them to prioritize policy and planning interventions that cannot address the actual development challenges in their cities and regions. This paper discusses the distinction between strategy formation and strategic planning, where the latter is the programming of development strategies that are identified through a blend of experience, intuition, and analysis. Cluster theories and analytical tools can provide useful informational inputs into a strategy making effort and they can also be helpful for programming specific interventions (i.e., strategic …

2009 Workforce Solutions - Urg Employee Survey, Guadalupe Corral, Melissa Gonzalez, Elizabeth K. Gibson, Mario E. Caire

IPED Technical Reports

The Institute for Policy and Economic Development (IPED) at the University of Texas at El Paso (UTEP) was contracted by Workforce Solutions - Upper Rio Grande (URG) to conduct an employee satisfaction survey as part of a larger evaluation project in which Workforce Solutions – URG’s business clients and jobseekers were also surveyed. The employee survey focused on issues related to how employees feel about various topics with regard to their work experiences at Workforce Solutions - URG. The goals of the survey were to evaluate how employees feel about Workforce Solutions as a place to work and in the …

Chinese Investment In Ethiopia: Devlopmental Opportunity Or Deepening China's New Mercantilism?, Asayehgn Desta

Asayehgn Desta

Explaining Commercial Rents In Major U.S. Metropolitan Areas Using An Error Correction Model With Panel Data, Maria R. Ibanez

Maria Ibanez

This project presents rent models for flexible, industrial, retail and office properties in the Unites States. Panel data are used covering the largest fifty metropolitan areas in the U.S. for 27 years (1982-2009) to analyze the determinants of rents.

Re-Visioning The Future Of Work: Towards A New Mindset, Colin C. Williams

Colin C Williams

No abstract provided.

Dualism In The Labor Market: A Perspective On The Lewis Model After Half A Century, Gary S. Fields

Gary S Fields

This paper asks how the Lewis model might be viewed from the perspective of economic science half a century later. Many of the core propositions remain intact, some might be amplified, and a small number might be revised.

Household Income Dynamics: A Four Country Story, Gary S. Fields, Paul L. Cichello, Samuel Freije, Marta Menéndez, David Newhouse

Gary S Fields

[Excerpt] In this paper, we analyse the dynamics of household per capita incomes using longitudinal data from Indonesia, South Africa, Spain and Venezuela. We find that in all four countries reported initial income and job changes of the head are consistently the most important variables in accounting for income changes, overall and for initially poor households. We also find that changes in income are more important than changes in household size and that changes in labour earnings are more important than changes in other sources of household income.

Human Resource Economics And Public Policy: Essays In Honor Of Vernon M. Briggs Jr., Charles J. Whalen Editor

Upjohn Press

This book pays tribute to Vernon Briggs and his enduring mark on the study of human resources. The chapters, by his students and colleagues, explore and extend Briggs’s work on employment, education and training, immigration, and local labor markets. His unwavering emphasis on institutional reality, public policy, and economic dynamics animates the entire collection.

Alianzas Que Fortalecen, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

The Microeconomics Of Changing Income Distribution In Malaysia, Gary S. Fields, Sergei Soares

Gary S Fields

[Excerpt] This study uses data from Malaysia's Household Income and Expenditure Surveys to quantify the importance of different factors in accounting for the changes in Malaysia's income distribution between 1984 and 1989 ("Period 1") and between 1989 and 1997 ("Period 2"). These particular years were chosen, because 1997 is the most recent available survey, 1984 is the earliest survey comparable to 1997, and 1989 is important for three reasons: 1. Income inequality fell until 1989 and rose thereafter. 2. Economic growth was slow in 1984-89 and fast in 1989-97. and 3. 1989 is the closest year to the beginning of …

Decent Work And Development Policies, Gary S. Fields

Gary S Fields

Welcoming the shift to outcomes which he perceives in the ILO's focus on decent work, the author explores the major issues thus raised. He discusses how to make the notion of decent work more precise in operational terms, and how to develop an integrated approach to economic and social policy in the decent work context, before formulating an empirical approach to assessing the effects of economic growth on decent work. Finally, he outlines a structure for the ILO's planned country reviews of progress towards decent work.