The determinants of wagering behavior

The total volume of wagering at a racetrack is important since it affects both racetrack and state revenues. This paper studies the factors that determine the volume of wagering. One of these factors is the sire stakes, a major form of government subsidy. We conclude that this subsidy has little or no economic impact on the volume of wagers. Unless the state recoups nearly all of the subsidy in other ways, such as sales taxes on racehorses, the sire stakes amount to a direct transfer from taxpayers to the breeding industry. We also develop information useful to racetrack managers.     

EDUCATIONAL PRODUCTION IN INDEPENDENT SECONDARY SCHOOLS

This article contributes to an established and growing literature in which a production function is estimated for educational institutions in order to investigate the relationship between school characteristics and performance.
Existing studies in this area have generally met with only limited success. The present study, through its application of a statistical model to comprehensive data drawn from the UK private sector of education identifies a wide range of school characteristics which significantly influence performance.
The article offers meaningful results and guidelines for further development of techniques in the investigation of a topic which is relevant to both producers and consumers of education.     

Social power-based print advertising: Theoretical and practical considerations

A laboratory experiment explored the impact of various power-based copy approaches upon readers' responses to print advertising messages. The treatments employed were derived from French and Raven's bases of social power at two levels of information content. Response measures included copy-and brand-related variables and recall. Results indicate that there are significant differences in responses owing to both the base of social power and the information level used.     

Assessing improvement area policy

The Inner Cities Directorate of the DoE have commissioned a number of studies to examine and evaluate the impact of economic and environmental measures adopted under the Urban Programme. This paper examines one such study, namely an evaluation of designated Industrial and Commercial Improvement Areas. It comments on the criteria of assessment adopted, the methodology used and the conclusions drawn from the evaluation. The study in question is An Evaluation of Industrial and Commercial Improvement Areas, by the Joint Unit for Research on the Urban Environment (JURUE), published in 1984.     

Exchange rate models and parameter variation: The case of the Dollar-Mark exchange rate

This paper is drawn from Chapter 3 of the author's doctoral dissertation at the University of Chicago (Wolff, 1985). He is very grateful to the members of his dissertation committee — Michael Mussa (Chairman), Joshua Aizenman, Robert Aliber, Jacob Frenkel, David Hsieh, John Huizinga, and Arnold Zellner — and to seminar participants at the University of Chicago, the London Business School and INSEAD for many helpful comments.     

Een gebrekkig bankwezen

and now remains, That we find out the cause of this effect; Or, rather say, the cause of this defect. For this effect, defective, comes by cause.