Economics Commons^™

Session 2-3-E: An Analysis Of Ahp On Investment Project Evaluation: A Case Study Of Matsu Integrated Resort, Day-Yang Liu

International Conference on Gambling & Risk Taking

Background

Governments are increasingly liberalizing gambling in hope of reaping economic and developmental benefits.

The business models of gambling industry are developing toward the concept of large, integrated resort-casino.

The referendum of allowing casino gaming business in Matsu was passed on July 7th, 2012.

It is expected to improve transportation facilities, boost local economy and tourism.

This gives Matsu the opportunity to build the first integrated resort-casino in the Taiwan area.

Session 2-3-E: Integrated Resort And Casino Law In An Asset-Inflated Japanese Economy, Sasaki Kazuaki

International Conference on Gambling & Risk Taking

Japan has one of the big gaming markets, which includes various games such as lottery, horse racing, motorcycle racing, bicycle racing, motorboat racing, and pachinko and pachinko-slot machines. While games like lottery, horse racing, motorcycle racing, speed boat racing, and bicycle racing are managed by the public sector, Pachinko and Pachinko-slot games are managed by private companies. The Japanese gaming market is worth around 240 billion US $.

Session 2-2-E: Slots Are To Las Vegas As Baccarat Is To Macau: A Game Analysis, Arthur Sai-Wai Wong

International Conference on Gambling & Risk Taking

Money is reeling in the casinos in Las Vegas, while chips are rolling in the casinos in Macau. These two different phrases exactly symbolize the ways how these two different gaming jurisdictions make their prosperity.

There are several reels in the slot machines and as they are spun thousands and millions of times…money reels in, it creates the profit for the casinos in Las Vegas.

Baccarat players wager dead chips in the VIP rooms rolling thousands and millions of times…money rolls in, it creates the profit for the casinos in Macau.

Session 2-2-E: The Growth Trends In Macau’S Gambling Industy: A Scenario Analysis, Zhonglu Zeng

International Conference on Gambling & Risk Taking

Macau’s Gambling Industry: A Brief Review

Macau’s gambling industry has experienced tremendous growth in the past 27 years. In 1985, the gambling revenue was only US$0.23 billion; in 2012, the figure reached US$38 billion. The compound annual growth rate is 22%.

Session 2-1-E: Betting Market Efficiency Implications Of Different Structures: Bookmakers Vs. Exchanges, David Mcdonald, Ming-Chien Sung, Johnnie Johnson Professor, John Peirson

International Conference on Gambling & Risk Taking

Outline

(i) Quick definition of market efficiency

(ii) Theoretical models lead to general predictions…

(iii) ...which lead to specific predictions about betting markets

(iv) Results of testing the predictions using real betting market data

(v) Implications and conclusion

Session 2-1-E: Toward An Understanding Of Price Movements In Betting Markets: Profitable Trading Against The Herd, Johnnie E.V. Johnson, Ming-Chien Sung, David C.J. Mcdonald

International Conference on Gambling & Risk Taking

Efficient Market Hypothesis

Markets for speculative assets always fully incorporate relevant information in prices

Herding

Participants neglect private info, adjust actionsmore representative of previous price movements

Effect

Price volatility in excess of variations in fundament d informationBubbles, crashes and bank runs

Session 1-4-A: Results From The Swedish Longitudinal Gambling Study (Swelogs): Changes Between 1998, 2009, And 2010, Ula Romild, Jessika Svensson

International Conference on Gambling & Risk Taking

Public Health Objectives

1. The overarching aim of Sweden’s national public health policy is to create social conditions that will ensure good health, on equal terms for the entire population.

2. The aim for society’s measures against problem gambling is to reduce harm from exaggerated gambling.

Session 1-4-B: Gambling And Marijuana Use In The Netherlands: Is Legalization The Best Tool For Dealing With "Naughty Habits?", William N. Thompson, Laura K. Thompson

International Conference on Gambling & Risk Taking

In 1976, the Netherlands embraced two policy initiatives which encompassed similar objectives. The policies sought to control “undesired substances” via the process of legalization. One legalization process involved casino gambling. The policies have sometimes led to desired results (the right road), while at other times they have led to undesirable results (the wrong road). Now in 2013, without an observable crossroad or even fork in the road, The Netherlands is poised to deviate from a right road to travel down a wrong road by placing rather severe restrictions upon the operations of “Coffee Houses” which have been “serving” customers measured …

Session 1-3-E: Hitting The Sweet Spot: Lottery Promotion And Vulnerability, Elisabeth Papineau, Jean-François Biron, Fanny Lemetayer, Amadou Barry

International Conference on Gambling & Risk Taking

Literature about lottery marketing and vulnerability

Lottery advertising in Quebec

Project phases

Results

Conclusion

Session 1-2-F: Sports As An Alternative Asset Class: Gambling As An Investment, Brendan Poots

International Conference on Gambling & Risk Taking

Genesis of the idea came in 2007 in NYC when studying at Columbia. The trading of sports utilising strategies and other traditional financial market practices was identified as a burgeoning opportunity.

Towards the end of 2007 a private Fund with owner’s capital was started.

Global Financial Crisis in 2008 – all asset classes lost value. Diversification did not work. The Olympics, the Superbowl, the World Series and all the Grand Slam tennis and golf tournaments went ahead unaffected.

Priomha Capital Sports Hedge Fund Founded in 2010

Global HQ – Melbourne

Trading office – London & Las Vegas (2014)

Priomha Capital …

Session 1-2-E: The Indirect Contribution Of Non-Gaming Amenities To Casino Gaming Performance, Elena Shampaner-Ghiassi, Sarah Tanford

International Conference on Gambling & Risk Taking

Objective

Evaluate the simultaneous impact of all non-gaming amenities on gaming volume

Session 1-2-F: Rationality And Risk Intelligence In Binary Betting, Raph Di Guisto, Aaron C. Brown, Nick Maughan

International Conference on Gambling & Risk Taking

We analyze 1.6 million binary bets on financial markets totaling $600 million in stakes, placed by 21,000 bettors at a large Internet betting site. The data set is unusually large and complete, plus has one additional important advantage: we can obtain objective independent estimates of the ex ante probability of winning each bet, using data from financial markets. This allows us to distinguish bettor profit due to superior prediction of financial events from bettor profit due to exploiting ex ante favorable odds situations. We focus on the degree or type of skill possessed by bettors (if any), and the amount …

Session 1-2-A: Building, Maintaining And Evaluating A Statewide Treatment Program For Problem Gambling, Timothy W. Fong

International Conference on Gambling & Risk Taking

Shows how to build, maintain and evaluate programs for problem gambling

Program: The 15th International Conference On Gambling & Risk Taking, University Of Nevada, Las Vegas, University Of Nevada, Reno

International Conference on Gambling & Risk Taking

Listing of presentations, events, and sponsors

Optimizing The Value Of Public Health Services: Lessons From Research & Practice, Glen P. Mays

Health Management and Policy Presentations

Expanding the delivery of efficacious public health programs and policies holds considerable potential for improving population health and constraining the growth in health care spending. Achieving such expansions efficiently, particularly in low-resource settings, requires careful attention to interorganizational and intergovernmental relationships in public health delivery.

The Imf Dilemma, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan borrowed nearly $8 billion from the IMF under its standby facility during 2008 and began repayments in 2011. The amount together with interest must be repaid by end 2014 — almost $5bn must be paid between March 2013 and end 2014.

A debate is raging between those who believe there is no alternative to entering a fresh programme with the Fund — standby or the Extended Fund Facility — and others who want to shun the IMF. To the former, the short-term liquidity situation leaves little choice.

Others believe the new government’s room for maneuverability will be constricted by …

Effects Of Shoe Donations On Children’S Time Allocation Toms Shoes In El Salvador, Flor Calvo

Master's Theses

What are the impacts of TOMS shoe donations in rural El Salvador? This paper tries to answer the question by studying the changes in time allocation among children age 6 to 12 years in El Salvador. By taking advantage of a Randomized Control Trial performed between January 15, 2012 and February 21, 2013 I study time allocation differences between baseline and follow-up periods among treatment and control groups. The primary findings of the study show that children part of treatment communities reduced the time spent on school related activities by approximately 0.657 hours per day while increasing the time spent …

Economic Effects Of Extending Marriage To Same-Sex Couples, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

Cash-In-Hand, Wives-In-Power: An Exploratory Analysis Of Microfinance In Jordan, Lauren Pugh

Master's Theses

Microfinance is an economic policy complimentary to advancing female empowerment. Empowerment is particularly relevant in patriarchic Islamic contexts in the Middle East, however little research exists. Due to counterfactual creation and inconsistent empowerment measurement, the true impact is debated. This research proposes intra-spousal decision-making outcomes as the appropriate proxy to empowerment and uses a nuanced approach of counterfactual creation by utilizing responses from previous microfinance borrowers. Survey data from a Jordanian MFI is used to examine the endogeneity story and cash-in-hand effects on intra-spousal decision-making outcomes. An instrumental variable estimation technique finds a weak link between microfinance and empowerment.

Risk, Religion, And Islamic Microfinance, Dunia Aburish

Master's Theses

This research design creates a framework in which the risk preferences and Islamic religiosity of Jordanian borrowers can be estimated. Specifically, this study highlights the different characteristics of conventional and Islamic microfinance borrowers. Although there is extensive literature on the topics of conventional microfinance and Islamic finance individually, few studies characterize borrowers who choose between these financial products. For this study, field research was conducted in conjunction with the National Microfinance Bank (NMB) and the Development and Employment Fund (DEF) in Jordan. Overall, 143 conventional and 78 Islamic borrowers were surveyed for a total sample of 221 borrowers. To estimate …

The Fii Model As An Investment In Patience: Exploring Time Preferences In Medellin, Colombia, Jennifer Graham

Master's Theses

The motivation for this research is to explore the success behind the Oakland based Family Independence Initiative (FII) as a model for poverty alleviation. During the period of June-December 2012, nearly 200 small business owners in Medellin, Colombia participated in a field experiment intended to replicate the FII model by randomizing the treatments of setting goals, receiving conditional payments, and participating in self-help groups, as well as the combinations thereof. The data shows that the subjects in the full FII treatment group achieve more goals and have significantly higher monthly sales than those subjects in any other treatment or control …

Different Uses Of Microfinance Among Conventional And Islamic Borrowers: Evidence From Jordan, Ngan Bui

Master's Theses

The paper focuses on investment decisions made by microfinance borrowers in Jordan. While there has been a lot of literature concentrating on the level of investment after credit access was made available, there has been very limited research on the impact of Islamic microfinance. The amount of literature comparing Islamic financing and its conventional counterpart is even more uncommon. This study will look at how conventional and Islamic borrowers differ in their decisions pertaining to business investments, home improvement projects and consumer durable goods. Results show that microfinance loan take-ups do lead to a higher probability of business investments. In …

The Role Of The Ocean Industry In The Chinese National Economy: An Input-Output Analysis, Rui Zhao

Working Papers

The OEAS (Ocean Economy Accounting System) has been established in China for 6 years. However, the economic impact of the ocean economy in China’s national economy has not yet been understood clearly at the national or regional levels. The direct impact of ocean industries in China at national and regional levels has been compiled for the period of 2001-2011, but it is still unclear what the overall economic impacts of ocean industries are in the national economy, and how the ocean industries interact with other industries in the national economy. China is similar to other ocean countries in that, - …

The Impacts Of Macomb Community College On The Economy Of Macomb County, George A. Erickcek, Kevin Hollenbeck

Reports

No abstract provided.

Will Dr. Robot Open New Doors For Nurses?, Olga Yakusheva, Richard C. Lindrooth

Economics Faculty Research and Publications

No abstract provided.

Nguyen ’15 Places In Putnam Competition, Natalya Grabavoy

News and Events (Discontinued Series)

No abstract provided.

Reinventing The Development Wheel Of The World Trading System (Reviewing Sonia E. Rolland, Development At The World Trade Organization (2012)), Sungjoon Cho

All Faculty Scholarship

In probing how WTO norms may affect developing countries, Sonia Rolland introduces two paradigms in this book: development as an idiosyncrasy and development as a normative co-constituent to trade. The first paradigm concerns development-related exceptions and carve-outs found within WTO rules and agreements that exemplify a contingent provision of special favors to developing countries. Overall, it represents a limited mandate on development in the WTO. In contrast, the second paradigm embodies a normative operationalization of development agenda within the WTO system. It normatively reconstructs WTO rules and institutions in a way where development is a core mandate of the WTO, …

Abandoning Standard Assumptions In Pareto Optimization Models: Simulating Market Scenarios With Incorrectly Estimated Preference Structures, Joshua Bernard

Honors Program Theses and Projects

This honors thesis examines the consequences of abandoning specific underlying assumptions of economic models used to describe the distribution of goods among individual agents or parties and the information about each one’s preferences. In microeconomic theory, the Edgeworth Box, Pareto-optimal trade, and convex (especially Cobb-Douglas) preference structures are used to model the process in which consumers and producers make trade-off choices that allocate limited resources among competing agents. This thesis investigates the common underlying assumptions of these economic models by drawing upon mathematical theory to develop both an analytical framework and the tools that help us establish boundaries for these …

Paul M. Warburg: Founder Of The United States Federal Reserve, Richard A. Naclerio

History Faculty Publications

The name Paul Moritz Warburg is synonymous with the founding of the Federal Reserve System. Over the years preceding the formation of the Federal Reserve, Warburg wrote many essays and gave many public addresses on banking reform. His reform ideas were modeled on the central banking systems of many European counties he dealt with through the family business M.M. Warburg.

A J-Test For Panel Models With Fixed Effects, Spatial And Time, Harry H. Kelejian, Gianfranco Piras

Regional Research Institute Working Papers

In this paper we suggest a J-test in a spatial panel framework of a null model against one or more alternatives. The null model we consider has fixed effects, along with spatial and time dependence. The alternatives can have either fixed or random effects. We implement our procedure to test the specifications of a demand for cigarette model. We find that the most appropriate specification is one that contains the average price of cigarettes in neighboring states, as well as the spatial lag of the dependent variable. Along with formal large sample results, we also give small sample Monte …