Economics Commons^™

Ready, Set, And Go Back: The Role Of The Judiciary In Brazil’S Bingo Ban, Luiza Jobim Llm, Toni Williams

International Conference on Gambling & Risk Taking

Brazil, the host of the 2014 World Cup and the 2016 Olympics, is known for strong competitive traditions in sports and games. It is also one of only three G-20 countries (together with Saudi Arabia and Indonesia) that currently bans non-state provision of gambling products. Bingo was a notable exception to this prohibition, after enabling legislation was enacted in 1993, with the intention that proceeds would help fund national sports development. The game quickly became very popular but there were persistent questions about, and contestations over, the capacity of the regulatory framework to control the dual risks of exploitation of …

The Future Of Gambling Spaces: Esports And The World Of Competitive Video Gaming, Brett Abarbanel, Bryce Blum, Chris Grove, Carson Knuth, Seth Schorr, Rahul Sood

International Conference on Gambling & Risk Taking

eSports, or competitive video gaming, are a rapidly developing segment of sport and gaming. eSports are a unique cultural and economic phenomenon, and only recently is this nascent industry garnering substantial attention from gambling operators, regulators, and researchers. In 2015, an estimated quarter of a billion dollars will be wagered on eSports, a number projected to grow to $23 billion by 2020 (Eilers Research, 2015).

This panel presentation will provide a general overview of eSports, including some background on the industry, a description of the market and general business model, information about the gambling opportunities within eSports, sponsorship opportunities and …

Profiling At-Risk Gamblers, Tapio Jaakkola, Kari Vuorinen, Mirka Smolej

International Conference on Gambling & Risk Taking

The majority of gambling research has been concentrating on problem gambling and on the association between gambling behavior, game design and gambling harm. Much less attention has been directed at recreational gambling or on players that do not suffer from any gambling related problems. However, when it comes to preventing gambling harm we should also target those at risk as well those who are gambling moderately.

As a part of a project on prevention of adult gambling harm we did a study of at-risk gamblers in order to recognize and to define the socio-economic background of our target group. Prior …

Self-Correcting Kelly Strategies For Skeptical Traders, Aaron C. Brown

International Conference on Gambling & Risk Taking

The Kelly criterion gives the appropriate bet size in idealized situations with known parameters. In financial trading situations parameters are generally unknown and the mathematical assumptions underlying the Kelly proof are not met precisely. Moreover a risk manager typically must cooperate with a trader who may be skeptical about both the Kelly criterion specifically and the concept of mathematical optimization of bet size in general.

This presentation tackles the problem of designing a Kelly-based system for setting trade risk management parameters that is both self-correcting (the system delivers good results even if initial parameter are misestimated or parameters change) and …

Measuring Market Saturation In The U.S. Casino Industry: An Analytical And Empirical Analysis, Clyde W. Barrow, Alan P. Meister, David R. Borges

International Conference on Gambling & Risk Taking

The national and regional economies in the U.S. remain on a slow growth trajectory, while the casino gaming industry has seen a rapid and ongoing expansion. Consequently, states, Native American tribes, and gaming operators have increasingly shifted their attention from gaming expansion to the problems of regional competition, cannibalization, market maturation, and market saturation. The question of “market saturation” has become a salient point of public policy debate and a topic that is now frequently raised in the industry and media. This paper analyzes the concept of saturation in the context of casino gaming markets and compares several metrics for …

Gambling Problems In The General Danish Population: Survey Evidence, Morten Lau, Don Ross

International Conference on Gambling & Risk Taking

We develop surveys of gambling problems in the general Danish population. We compare several popular survey instruments of gambling behavior and gambling propensity to assess if they differ in their classification of individuals. We also examine correlations with standard survey instruments for alcohol use, anxiety, depression and impulsiveness. A feature of our design is that nobody was excluded on the basis of their response to a “trigger,” “gateway” or “diagnostic item” question about previous gambling history, allowing us to check for sample selection bias. Our sample consists of 8,405 adult Danes, which is 12.8% of the sample frame of 65,592 …

Generational Differences In Gambling Behavior And Attitudes, Don Feeney, Todd Maki

International Conference on Gambling & Risk Taking

The five generations that make up the adult population of North America and Europe differ greatly in their gambling behavior and their beliefs and attitudes towards gambling. This presentation will discuss data that demonstrate the extent of these differences as well as the cultural background and formative experiences that led to them. It will conclude with a discussion of implications for the gambling industry, responsible gambling, public policy, and for those concerned with the prevention and treatment of gambling problems.

Responsible Gaming Certification Standards, Dietmar Hoscher

International Conference on Gambling & Risk Taking

The European Casino Association (ECA) is representing the licensed European Casino industry in Brussels. It represents some 900 casinos form 24 European countires which employ around 70.000 staff.

In 2013 the ECA launched a project among its members concerning Responsible Gaming. A Working Group headed by Prof. Hoscher a Board Mamber of Casinos Austria AG was formed. The members where Resposnible Gaming Experts fom the different companies and associations within the ECA network.

The working group established a Responsible Gaming Framework that represents a collection of measures to presevent gambling addictions and identify vulonerable persons. The collection of measures are …

The Economics Of Lotto, Ian Walker, Robert E. Pryce, Rhys Wheeler, Nick Powdathvee

International Conference on Gambling & Risk Taking

No abstract provided.

Development Of Utility Theory And Utility Paradoxes, Timothy E. Dahlstrom

Lawrence University Honors Projects

Since the pioneering work of von Neumann and Morgenstern in 1944 there have been many developments in Expected Utility theory. In order to explain decision making behavior economists have created increasingly broad and complex models of utility theory. This paper seeks to describe various utility models, how they model choices among ambiguous and lottery type situations, and how they respond to the Ellsberg and Allais paradoxes. This paper also attempts to communicate the historical development of utility models and provide a fresh perspective on the development of utility models.

Variation In Restaurant Sanitary Scores In New York City, Kyle Gregory

Theses and Dissertations

The purpose of this study was to determine whether restaurants that are homogenous in nature would exhibit substantially different hygiene scores based on the underlying consumer learning behaviors present in the neighborhoods in which the restaurants are located.

Financial Performance In Upstream, Downstream, And Integrated Oil Companies In Response To Oil Price Volatility, Jonathan P. Garcia

Finance Undergraduate Honors Theses

This paper investigates the relation between crude oil price volatility and stock returns among oil companies using a three-part methodology, by using the West Texas Intermediate (WTI) as oil price benchmark. I asses the various indicators that set signals for oil price volatility and the interpretation of each (PMI, S&P500, DJIA, and World Crude Oil Output). This research also focuses on the relation between different types of companies in the oil industry (integrated, upstream, and downstream) and how each type of company will be assessed in a particular way to predict abnormal returns, based on market data and statistical analyses …

Spread Trading In Corn Futures Market, Ryan D. Napier

Graduate Theses and Dissertations

The non-linear relationship between old crop – new crop year spreads in corn futures market and stock-to-use (S-U) ratios published by the United States Department of Agriculture is analyzed. Using a non-linear logarithmic smooth transition regression (LSTR) model, we capture asymmetric market behaviors in high and low S-U regimes. Capturing this relationship and understanding the non-linear aspects of the relationship is of interest of grain merchandizers and speculators in the market. A spread trading strategy is simulated for the sample period, January 1985 through April 2015, to determine if the non-linear relationship is a profitable arbitrage opportunity in the market.

High Performance Bayesian Applications In Medical, Economics And Climate Sciences, Ahmed Almulihi

Research and Creative Activities Poster Day

We apply high performance numerical integration to problems in Bayesian statistics. These are applied to data arising in the analysis of problems in such areas as medical statistics (birth weight data, heart transplant data, photocarcinogen data, radio therapy data), climate (global weather, tornado data), and general statistics applications (multivariate logistic distribution, multivariate normal, nonlinear regression). We compute Bayesian moment integrals using the ParInt integration software that runs efficiently on computer clusters. We compare our results to those in the literature and show excellent performance with respect to accuracy and execution time.

What Is The True Cost To Stay In The Hospital?, Samantha Alicandro

Honors Projects in Mathematics

Currently, the unfortunate reality that receiving diverse health procedures can be extremely expensive is widely acknowledged and woefully accepted. However, have you inquired or been curious about the specific factors that influence the cost per day expensed by a hospital? Through examination, investigation, and evaluation operating SAS Enterprise Guide, SAS Enterprise Miner and Tableau I have attempted to arrive at a conclusion for this very question. Utilizing a 1.5 million row data set provided by Rhode Island, for the years 2003-2013, I analyzed the assorted elements conceivably bearing impact on the cost per day at a hospital. Regressions, decision trees, …

Does Academic Performance Predict Workplace Productivity?, Jodie-Gaye Hunter

Honors Projects in Economics

This research examines if college GPA affects productivity and compensation in the workplace. It uses data collected from a survey of approximately 23,000 Bryant University graduates in different stages of their career. About 10 percent of the alumni surveyed completed the survey. The econometric model used in this study allows estimating the effect of GPA on income after controlling for various demographic and socioeconomic variables, including education, major, occupation, gender, among others. The empirical work provides evidence that GPA has a positive and statistically significant impact on workplace productivity for females, but GPA seems to be a weaker predictor of …

The Women Of Helamb: Life After The 2015 Earthquake, Emma Squier

Independent Study Project (ISP) Collection

Disasters exacerbate inequalities that are already present in the society, put particular groups of individuals at risk, specifically women. The vulnerabilities of women shape the way they experience disasters as well as their ability to recover from them. Although it has now been over a year since the earthquake that occurred in Nepal on April 25, 2015, the recovery has been slow, and the destruction that it has caused is still greatly visible. For this project, women in the Helambu region of Nepla were interviewed to learn about how their lives were affected by the earthquake and the challenges that …

David Vs. Goliat: Políticas Y Prácticas Exitosas De La Decoin (Defensa Y Conservación Ecológica De Intag) Durante La Lucha Contra La Minería En Intag, Ecuador, Ana Teresa Colón García

Independent Study Project (ISP) Collection

Este es un análisis cualitativo que se enfoca en la organización DECOIN(Defensa y Conservación Ecológica de Intag) y su influencia en la resistencia, con éxito hasta el presente, contra proyectos de extracción minera que podrían acarrear un grave y muy y negativo impacto ambiental en la zona de Intag, Ecuador. En base a entrevistas con líderes y aliados de la organización y residentes de varias comunidades de la zona de Intag, discuto y analizo estrategias que ha implementado la organización tales como la compra de tierras, creación de alternativas económicas, concientización ambiental y defensa de derechos humanos para lograr desincentivar …

La Minería En La Conciencia Urbana: Las Estrategias De Los Yasunidos De Cuenca Contra La Minería En El Azuay, Alexandra Golden

Independent Study Project (ISP) Collection

En la provincia del Azuay, Ecuador, hay dos proyectos mineros a gran escala. Los proyectos Río Blanco y Loma Larga/Quimsacocha consisten en minas subterráneas de oro y plata, y ambos se acercan a la fase de explotación. Los proyectos están ubicados en la Reserva de Biosfera Macizo del Cajas en la zona de amortiguamiento del Parque Nacional el Cajas. La zona es un páramo de alto endemismo e importancia con respecto a la regulación hídrica. Los páramos suministran agua potable a los pueblos campesinos y a los habitantes de la ciudad de Cuenca. La minería consume muchísima agua y energía …

They Come Like The Clouds: Governing The Mountainous Periphery, Jared Sousa

Independent Study Project (ISP) Collection

This paper addresses the extension of governmental power into the mountainous periphery of the village of Dho Tarap in the Dolpa District of Nepal. New technologies, new markets, and new social dynamics are penetrating the Himalaya and reshaping the connections that mountain people have to the outside world. In this context of connectivity and modernity, the people of Dho Tarap are also being thrust into far closer proximity to the Nepali government. After a series of geopolitical moves in Nepal and China in the 1960s, Dho Tarap as part of an isolated border region has been a part of a …

Disentangling Greenhouse Warming And Aerosol Cooling To Reveal Earth's Climate Sensitivity, T. Storelvmo, T. Leirvik, U. Lohmann, Peter C. B. Phillips, M. Wild

Research Collection School Of Economics

Earth's climate sensitivity has long been subject to heated debate and has spurred renewed interest after the latest IPCC assessment report suggested a downward adjustment of its most likely range(1). Recent observational studies have produced estimates of transient climate sensitivity, that is, the global mean surface temperature increase at the time of CO2 doubling, as low as 1.3 K (refs 2,3), well below the best estimate produced by global climate models (1.8 K). Here, we present an observation-based study of the time period 1964 to 2010, which does not rely on climate models. The method incorporates observations of greenhouse gas …

From The Orderly World Of Frameworks To The Messy World Of Data: Canada’S Experience Measuring The Economic Contribution Of Maritime Industries, Alejandro De Maio, Christine Irwin

Journal of Ocean and Coastal Economics

This paper extends the frameworks developed by Park and Kildow (2014) to explore the use of supply chains to classify and organize ocean industries. Canada’s experience with measuring the economic contribution of ocean related sectors is discussed; with particular emphasis on illustrating the supply chain approach and of highlighting the multiple practical challenges that arise in defining and measuring the ocean economy. The overall conclusion is that Canada has succeeded in developing a methodological framework that allows it to report, on an annual basis high level estimates of gross domestic product, employment and labour income generated directly and indirectly by …

The New Blue Economy: The Future Of Sustainability, Mark J. Spalding

Journal of Ocean and Coastal Economics

The world’s ocean is the world’s life support. Many human activities have defined a negative relationship with the ocean. Simply put: we dump too much bad stuff in, and we take too much good stuff out. The traditional ocean economy—those ocean-based and ocean-related activities from which humans derive economic benefit— did not acknowledge or honor the ocean’s natural services, nor its finite capacity to take human abuse without undermining those services on which we depend. The “new blue economy” is the term of art for identifying those activities that improve the human relationship with the ocean and for aligning our …

Economic Assessment Of Oceans For Sustainable Blue Economy Development, Maria Corazon M. Ebarvia

Journal of Ocean and Coastal Economics

This paper presents the common approach on blue economy assessment adopted by selected countries in the East Asian Seas region, and results of initial assessment studies. There are many discourses on the definition and scope of blue economy as the ocean space is evolving, driven by innovations, shifting demands, and pressures from changing environment and climate. The ocean economy contributes to the GDP of the EAS countries in varying degrees: 3 % in RO Korea, 4.5 % in the Philippines, 9 % in China, and 13 % in Indonesia. In addition to the ocean economic activities, the ocean also generates …

Ocean Economy Valuation Studies In The Asia-Pacific Region: Lessons For The Future International Use Of National Accounts In The Blue Economy, Alistair Mcilgorm

Journal of Ocean and Coastal Economics

There have been several projects that have addressed the challenges of measuring the ocean economy in the Asia-Pacific region. The paper examines some lessons from these projects and the implications for the future use of national accounts.

Following the Asia Pacific Economic Cooperation (APEC) Bali declaration, the APEC Marine Resource Conservation Working group’s “Measuring the Marine economy” project promoted consistent measurement of the marine economy across the 21 APEC economies against a list of agreed marine industry categories which was developed by an APEC workshop on Easter Island in 2004.

In 2008-09 a Partnership for the Environmental Management of the …

Accounting For The Ocean Economy Using The System Of National Accounts, Raymundo J. Talento

Journal of Ocean and Coastal Economics

The increasing importance to measure the ocean economy cannot be discounted. A number of countries attempted to measure the ocean economy based on their needs and perceptions. At this point, however, there is no agreed scope and coverage of the ocean economy nor is there an agreed operational definition of the variables needed for its measurement. Moreover, there is no internationally endorsed framework that will guide and lead to comparable estimates across countries or regions.

Utilizing the 2008 System of National Accounts (SNA) as a framework, this paper endeavors to estimate the contribution of the ocean economy in the Philippines …

A Statistical Assessment Of Maritime Socioeconomic Indicators For The European Atlantic Area, Javier Fernandez-Macho

Journal of Ocean and Coastal Economics

Ever since the introduction into marine and maritime policy strategies worldwide of the relatively new concept of Blue Growth there has been an increasing interest in developing integrated systems of indicators for the maritime economy.

The Marnet project has been a recent attempt to develop a comparative maritime socioeconomic framework for the European Atlantic area and its database contains a large number of socioeconomic indicators for many maritime activities at different territorial levels that provide the information needed to help analyze and compare the maritime economy of the European Atlantic regions.

However, there are still many gaps with respect to …

The Role Of Economics In Ecosystem Based Management: The Case Of The Eu Marine Strategy Framework Directive; First Lessons Learnt And Way Forward., Soile Oinonen, Tobias Börger, Stephen Hynes, Ann Katrin Buchs, Anna-Stiina Heiskanen, Kari Hyytiäinen, Tiziana Luisetti, Rob Van Der Veeren

Journal of Ocean and Coastal Economics

The EU Marine Strategy Framework Directive (MSFD) sets out a plan of action relating to marine environmental policy and in particular to achieving ‘good environmental status’ (GES) in European marine waters by 2020. Article 8.1 (c) of the Directive calls for ‘an economic and social analysis of the use of those waters and of the cost of degradation of the marine environment’. The MSFD is ‘informed’ by the Ecosystem Approach to management, with GES interpreted in terms of ecosystem functioning and services provision. Implementation of the Ecosystem Approach is expected to be by adaptive management policy and practice. The initial …

Maritime Accounts In The European Union: Coping With Limited Information, Regis Kalaydjian

Journal of Ocean and Coastal Economics

The European Commission's effort to define the scope and components of the maritime economy was initially motivated by the "Integrated Maritime Policy" (2007). This policy package, principally based on coastal environment protection, maritime safety and security, and the European marine observation and data network, also included the development of an EU-wide economic and social database on maritime activities. The IMP database (2009) used experience from EU member states in terms of maritime database development, and conversely was an opportunity to update national contributions.

Later, two other packages contributed to broadening EC's approach. 1) The "Marine Strategy Framework Directive" (2008) was …

Introduction To Special Edition: The Oceans And National Income Accounts: An International Perspective, Charles S. Colgan

Journal of Ocean and Coastal Economics

Introduction to articles in the special edition.