Economics Commons^™

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 …

Recession Effect On Consumer Spend Allocation And Integrated Resorts' Profits, Toni Repetti, Ashok Singh

International Conference on Gambling & Risk Taking

Consumers have many decisions to make when it comes to travel. The first decision is choosing to travel at all, followed by how much to spend. Next based on the consumer’s motivations and preferences, they determine how to allocate their travel spend across a variety of categories. This study evaluates how revenue generation in integrated resorts changed during recessions. This allocation change in revenue also affects profits and profit margins as each department has a different cost structure. This study will also evaluate how profit and profit margins in each department were affected due to the change in revenue allocation …

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

International Conference on Gambling & Risk Taking

No abstract provided.

The Role Of Adaptive Capacity On The Subjective Career Success Of Former D-I African-American Male Athletes: A Mixed-Method Study, Leon Antonio Jackson

UNLV Theses, Dissertations, Professional Papers, and Capstones

African-American male student-athletes who played a revenue-generating sport enter the labor market having relatively poor social networks, low grade point averages, few marketable skills outside of sports, restricted work experiences, and marginal subject matter knowledge; most of which are the result of their participation in sports (Singer, 2008). Therefore making the transition more difficult than even the average African-American male (Edwards, 1980). The purpose of this study was to: (1) Determine the factors that predict subjective career success for former D-I African-American male athletes who played a revenue-generating sport, and (2) Explore how former D-I African-American male athletes, who played …

An Examination Of U.S. Restaurant Firms' Internationalization In A Risk Context, Soyeon Jung

UNLV Theses, Dissertations, Professional Papers, and Capstones

The purpose of this dissertation is to advance the theoretical and practical understanding

of the relationship between publicly traded U.S. restaurant firms’ internationalization as a

corporate strategy and risks using a comprehensive set of risk measures: 1) market-based risk (i.e., systematic and unsystematic risk) and 2) accounting-based risk (i.e., standard deviation of return on assets (ROA), return on equity (ROE), and earnings per share (EPS) during the period of 2000-2013. This dissertation further investigates linear, nonlinear, and lagged effects of internationalization on restaurant firms’ risks. In summary, the findings of this dissertation reveal that internationalization tends to mitigate systematic risk, …

The Effect Of Florida’S Timeshare Resale Accountability Act And Securitization Announcements On Vacation Ownership Shareholder Wealth, James R. Drake, Iii

UNLV Theses, Dissertations, Professional Papers, and Capstones

The focus of this study deals with the vacation ownership, or timeshare, industry, and is two-fold. First, it examines the passage of a criminal law in Florida that deals with the resale of timeshare properties and measures the law’s effects on the timeshare industry in terms of shareholder wealth. Second, the study examines the effect of the announcement of the sale of asset-backed securities in the timeshare industry, also in terms of shareholder wealth. The cumulative abnormal returns of publicly traded lodging corporations that operate in the timeshare industry are calculated and analyzed for both studies.

The passage of Florida’s …

Mountain Monitor - 1st Quarter 2015, Kenan Fikri, Siddharth Kulkarni

Mountain Monitor Quarterly

This analysis of employment, output, unemployment, and house prices finds that the 10 major metropolitan areas of the Mountain West, despite significant economic headwinds, weathered the first quarter of 2015 with robust economic growth. Eight of the region’s 10 major metro areas advanced on all four metrics of economic performance, and the remaining two metro areas slipped only on a single front.

The national economic slowdown that arrived in early 2015 did not entirely bypass the Mountain West, but the region resisted the drag better than any other. As U.S. economic output contracted by 0.3 percent in the first quarter, …

The Great Recession And U.S. Safety Nets: The Case Of Temporary Assistance To Needy Families (Tanf), Vicky Albert

Brookings Scholar Lecture Series

The Great Recession

• Officially lasted from December 2007 to June 2009
• Most severe recession since Great Depression
• In the first quarter of 2012 about 30% of jobless workers had been unemployed for a year or longer
• From 2007 to 2009, real personal income per capita fell by 8.3 percentage points and many individuals dropped from the labor force

The Safety Nets for Families with Children

• Unemployment Insurance
• Medicaid
• Earned Income Tax Credit
• Supplemental Security Income (SSI)
• Subsidized Housing
• Temporary Assistance for Needy Families Program (TANF)

Examining The Impact Of Competition On Casino Revenues And Prices In The Mid-Atlantic States, Andrew J. Economopoulos, Uli Luxem

UNLV Gaming Research & Review Journal

The expansion of casinos in the Mid-Atlantic States has been motivated by the quest of states to capture the economic and tax revenue benefits of the new industry. The expansion of casinos and the increase in competition, however, has had an impact on revenue growth and prices. This study examines the impact of expansion on the casino revenues in the region from 1997-2012, and the price for gaming in Pennsylvania and New Jersey from 2006-2012. A spatial econometric model was employed to examine the net impact of casino revenues from expansion. Spatial econometrics captures the within state impact of expansion …

The Political Economy Of Going Global: Understanding The Determinants Of Chinese Foreign Direct Investment In The Middle East And Africa, Majid Shirali

UNLV Theses, Dissertations, Professional Papers, and Capstones

This study seeks to explain the motivating factors behind Chinese foreign direct investment (FDI) patterns to the Middle East and Africa through a quantitative framework that utilizes a pooled cross-sectional time-series data set that covers 57 countries from 2003-2010. Prior research on the issue has hypothesized that China attempts to use external FDI to developing areas to promote national interests and help sustain economic growth. However, there has been an almost exclusive focus on economic determinants while generally ignoring political variables. The approach in this project attempts to fill this scholarly void by employing a broad array of independent variables …

Risk Misperception And Selection In Insurance Markets: An Application To Demand For Cancer Insurance, David S. Hales

UNLV Theses, Dissertations, Professional Papers, and Capstones

Spinnewijn (2013) posits that optimism about risk and the efficacy of risk-reducing effort could cause selection in insurance markets. We test for this using a survey of 474 subjects’ demand for hypothetical cancer insurance. We elicit perceptions of baseline cancer risk and control efficacy and combine these with subject-specific cancer risks predicted by the Harvard Cancer Risk Index to develop measures of baseline and control optimism. We find that only 23 percent of our subjects would purchase a fair insurance contract aligned to their true risk type. Of these subjects, 94 percent also overinvest in prevention, leading to advantageous selection.

Diamonds, The Kimberley Process, And Civil War In Sub-Saharan Africa, Haley Anne Mccormick

UNLV Theses, Dissertations, Professional Papers, and Capstones

Africa is a region of the world that has been plagued by conflict for decades. Specific civil wars in the 1990s gained worldwide attention due to the perceived source of funding for rebel groups to continue the bloodshed: diamonds. As civil society organizations and journalists exposed the role of diamonds and the diamond industry, a link between diamonds and conflict also emerged in the scholarly literature regarding the “resource curse.” In response, policymakers created the Kimberley Process Certification Scheme, an institution designed to address the problem of conflict diamonds and to clean up the diamond industry. While many critics have …

The Economic Impact Of The Mpaa Rating System On Types Of Films Made From 2004-2014, Kaitlin Peck

UNLV Theses, Dissertations, Professional Papers, and Capstones

This thesis will examine the economic impact of the MPAA film rating system on the types of films made from 2004 to 2014. The research in this study will examine the violent and sexual content of films. For this research the Motion Picture Association of America rating system is the independent variable, and its financial or economic impact on films made in the last ten years is the dependent variable. An extensive review of previous literature will also help inform the direction of the current study. However, this topic is still relevant because the previous research has appeared to be …

Transforming For The Future: The New Economic Driver For The Las Vegas Tourism Industry, Kwangbok Lee

UNLV Theses, Dissertations, Professional Papers, and Capstones

Tourism transformation has recently become a key strategy in today's competitive business environment, as continued rejuvenation is required for a tourism destination to succeed over time. However, transformation can prove problematic for many emerging tourism destinations, which suffer from a lack of long-term decision-making tools and leadership from institutions at a local level. Therefore, this paper aims to use the theoretical framework of transformation theory—particularly the institution dimension— to demonstrate that Las Vegas’ ongoing transformative shift over the last 80 years from a mining town to a gaming destination, and then, to a multi-dimensional tourist attraction, has been largely successful …

The Economic And Social Effects Of Casino Development In Macau, Christopher Benton

UNLV Theses, Dissertations, Professional Papers, and Capstones

This paper explores the economic impacts that took place in Macau after the gaming monopoly ended in 2002, as well as the resulting social effects to the local region. The broader research on casino gaming was analyzed, and was then compared to the social and economic impacts that took place in Macau. Specifically, economic indicators such as employment and GDP were evaluated, along with social issues such as problem gambling, crime, and educational attainment. Many countries, specifically Asian countries, are now entertaining the idea of introducing casinos to their local communities in an effort to try and replicate the type …

The Effects Of Gaming Taxation On Capital Investment In Gaming Businesses, Jeremy Pollock

UNLV Theses, Dissertations, Professional Papers, and Capstones

Microeconomic theory generally supports the idea of an inverse relationship between taxes and capital investment. The gaming industry however does not operate on a free market equilibrium of supply and demand. Regulation and taxation of this industry can distort competitive forces and, as a result, investment decisions. Forces are described herein which either strengthen or weaken this inverse relationship, as well as how they affect the value of the limited number of casino operating licenses which states grant. Higher tax rates are generally shown to result in small-scale properties, which cater to a narrow base of consumers. In contrast, low …

Public Procurement: The Achilles Heel Of Good Governance, Jeffrey Gutman

Brookings Scholar Lecture Series

Development aid is defined as the financial aid given by governments and agencies to support the economic, environmental, social, and political needs of developing countries. With the government acquisition of goods, civil works, and services representing between 15-20 percent of Gross Domestic Product (GDP) for most countries, the value of procurement policy and its application are very high. Recent high profile cases in the news, ranging from the military purchase of clothing from foreign sources that raise human rights issues, to the criticism of the implementation of the Affordable Care Act website, to a range of corruption cases around the …

Mega-Regional Trade, Joshua Meltzer

Brookings Scholar Lecture Series

This lecture will discuss the impact of the Trans Pacific Partnership negotiations and the Transatlantic Trade and Investment Partnership negotiations on U.S. economic competitiveness and leadership in Asia and Europe. This will lead into a discussion of large Free Trade Areas (FTA), or groups of countries that have few or no price controls in the form of tariffs or quotas between each other. FTAs allow the agreeing nations to focus on their comparative advantages and to produce the goods they are comparatively more efficient at making, thus increasing the efficiency and profitability of each country. We will explore the impact …

Mountain Monitor - 4th Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

With the national economy gaining steam, the 10 major metro areas of the Mountain West ended 2014 with another quarter of strong economic performance. On the four indicators of economic vitality measured by the Mountain Monitor—employment growth, output growth, changes in unemployment, and house price growth—with only a few exceptions, every metro area registered advances on every indicator. Such widespread progress heretofore eluded the region, where recovery from the Great Recession has been characterized by unevenness.

In aggregate, the 10 Mountain metro areas ended 2014 with their fastest quarter of job growth of the year. Employment increased by 0.8 …

Climate Change, Disasters & Displacement, Elizabeth Ferris

Brookings Scholar Lecture Series

This lecture examines trends in natural disasters, the effects of climate change, and their impact on human rights, including economic costs, the displacement/migration of people, and the likelihood that the poor and marginalized are most likely to be affected by natural disasters and climate change.

Mcnair Research Journal - Summer 2015, Kelly Abuali, Starr Bailey, Krystal Courtney D. Belmonte, Brittaney Benson-Townsend, Jennifer Bolick, Mihaela A. Ciulei, Ashley Crisp, Daniel N. Erosa, Richard V. Foster, Gisele Braga Goertz, Michael A. Langhardt, Kara Osborne, Julienne Jochel Paraiso, Shawn M. Rosen, Bella V. Smith, Jeevake Attapattu, Ernesto H. Bedoy, Michael G. Curtis, Wanda Inthavong, Marielle Leo, Primrose Martin, Tamieka Meadows, Rosa Perez, Jessica Recarey, Shea Silver, Linda Tompkins

McNair Journal

Journal articles based on research conducted by undergraduate students in the McNair Scholars Program

Table of Contents

Biography of Dr. Ronald E. McNair

Statements:

Dr. Neal J. Smatresk, UNLV President

Dr. Juanita P. Fain, Vice President of Student Affairs

Dr. William W. Sullivan, Associate Vice President for Retention and Outreach

Mr. Keith Rogers, Deputy Executive Director of the Center for Academic Enrichment and Outreach

McNair Scholars Institute Staff

Do Gasoline Prices Affect Residential Property Values?, Adele C. Morris, Helen R. Neill

Brookings Mountain West Publications

This paper estimates the effect of gasoline prices on home values and explores the degree to which the relationship varies across a city. Using data from 930,702 home sales in Clark County, Nevada, from 1976 through 2010, we find that gasoline prices have significantly different effects on the sales price of homes in different neighborhoods. A ten percent increase in gasoline prices is associated with changes in location-specific average home values that span a range of over $13,000. This suggests that energy policies may affect household housing wealth via gasoline prices, a heretofore unrecognized distributional outcome.

Mountain Monitor - 3rd Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

As a group, the 10 major metro areas of the Mountain West outperformed the national economy during the third quarter of 2014 on all four indicators of economic vitality measured by the Mountain Monitor: employment growth, output growth, unemployment, and house prices. In the three months ending in September, the country’s large metropolitan areas were anticipating the rapid uptick in national economic growth that took hold at the end of 2014. Mountain region metro areas led the way.

All but two major metro areas in the region added jobs, and six did so at a faster rate than the …

International City/County Management Association 1999 Revenue Estimation Survey Revisited, Benjamin Bond

UNLV Theses, Dissertations, Professional Papers, and Capstones

In 1899 the National Municipal League declared that it was the duty of the Mayor to submit to the Council the annual budget of current expenses of the city, for almost as long, the budgeting process has been researched (Hou, 2006). Researching budgets is important and needed but comparatively little attention has been paid to revenue forecasts or to those responsible for the generation of revenue forecasts. Professional public administrators responsible for generating revenue forecasts have largely been overlooked in research. Judging by the lack of scholarly material available in academic journals, it appears the political process in which budget …

Maritime Piracy And Armed Robbery Confrontations Across The Globe: Can Crew Action Shape The Outcomes?, Justin Stewart Lewis

UNLV Theses, Dissertations, Professional Papers, and Capstones

Abstract

The recent tightening of military budget constraints has called into question the feasibility of costly multilateral naval intervention used to combat maritime piracy off the eastern coast of Africa. Though past studies agree that the transformation of the Somali economy and government is crucial for a long-term solution to piracy in this part of the world, short to medium-run solutions are needed to bridge the gap. Such solutions should be fiscally sensible and serve as effective deterrents, as well as be applicable in addressing the problem of piracy and maritime armed robbery in other parts of the globe.

In …

A Study On Employee Turnover In Shanghai’S Fine Dining Restaurants, Yang Liu

UNLV Theses, Dissertations, Professional Papers, and Capstones

No abstract provided.

Empirical Studies On Interest Rate Derivatives, Xudong Sun

UNLV Theses, Dissertations, Professional Papers, and Capstones

Interest rate models are the building blocks of financial market and the interest rate derivatives market is the largest derivatives market in the world. In this dissertation, we shall focus on numerical pricing of interest rate derivatives, estimating model parameters by Kalman filter, and studying various models empirically. We shall propose a front-fixing finite element method to price the American put option under the quadratic term structure framework and compare it with a trinomial tree method and common finite element method. Numerical test results show the superiority of our front-fixing finite element method in the aspects of computing the option …

Power America's — And Nevada's — Advanced Industries: State By State, Region By Region, Mark Muro

Brookings Scholar Lecture Series

With the U.S. economy still flat, economic experts and leaders continue to search for the next source of U.S. and regional growth. One key component of the next era of prosperity can be projected: It is what the Brookings Metropolitan Policy Program calls the advanced industry (AI) sector. The nation’s most strategic R&D — and STEM worker intensive industries, AIs like aerospace and IT are prime movers of regional and national prosperity, because they are key sources of technology innovation and generate domestic and international exports. Accordingly, the AI swatch of 50 discrete industries has emerged as an important new …

The Shortage Of Skilled Workers: Quality Jobs For A Trained Workforce, Jonathan Rothwell

Brookings Scholar Lecture Series

The Great Recession of 2008 temporarily solved employer workforce needs by lowering demand and increasing the number of unemployed skilled workers. After a few years of modest but sustained economic growth, the labor market for skilled workers has once again tightened and positions are going unfilled. This research helps national and regional leaders understand which skills are in short supply and offers policy advice on how to redress the imbalance between supply and demand. In addition to offering a national perspective on this topic, the lecture will examine the situation in Nevada.

Nonprofit Organizations And The Nevada Economy: An Analysis Of The Employment, Economic Impact, And Scope Of The Nonprofit Sector In Nevada, Jessica K. A. Word, Jaewon Lim, Carol Servino, Kenneth Lange

Lincy Institute Reports and Briefs

The Nevada nonprofit sector plays an important role in the state’s economy. This research report examines the role of nonprofit organizations in the economy and details regional differences in terms of employment and economic impact in the state.