Does a marching band impact college Football game attendance? A panel study of Division II

Marching bands are an integral part of the college football game-day experience by increasing both the quantity and quality of entertainment. Academic music programs could enhance a band’s entertainment value via better-trained members and recruitment of more highly skilled musicians. The impact of these influences on game-day attendance is explored using data from nine years of regular season games in Division II. The regression model controls for economic factors, home-team performance, demographic influences and game characteristics and employs boot-strap clustering methods for calculating standard errors of coefficients. Results suggest that a marching band, the existence of an academic music program and being a historically black college each exerts an independent positive impact on attendance after controlling for all other factors.     

Bias-corrected estimates of reduction of post-surgery length of stay and corresponding cost savings through the widespread national implementation of fast-tracking after liver transplantation: a quasi-experimental study

Background: Fast-tracking is an approach adopted by Mayo Clinic in Florida’s (MCF) liver transplant (LT) program, which consists of early tracheal extubation and transfer of patients to surgical ward, eliminating a stay in the intensive care unit in select patients. Since adopting this approach in 2002, MCF has successfully fast-tracked 54.3% of patients undergoing LT.

Objectives: This study evaluated the reduction in post-operative length of stay (LOS) that resulted from the fast-tracking protocol and assessed the potential cost saving in the case of nationwide implementation.

Methods: A propensity score for fast-tracking was generated based on MCF liver transplant databases during 2011–2013. Various propensity score matching algorithms were used to form control groups from the United Network of Organ Sharing Standard Analysis and Research (STAR) file that had comparable demographic characteristics and health status to the treatment group identified in MCF. Multiple regression and matching estimators were employed for evaluation of the post-surgery LOS. The algorithm generated from the analysis was also applied to the STAR data to determine the proportion of patients in the US who could potentially be candidates for fast-tracking, and the potential savings.

Results: The effect of the fast-tracking on the post-transplant LOS was estimated at approximately from 2.5 (p-value?=?0.001) to 3.2 (p-value?Conclusion: The fast-track program was found to be effective in reducing post-transplant LOS, although the reduction appeared to be less than previously reported. Nationwide implementation of fast-tracking could result in substantial cost savings without compromising the patient outcome.     

Mega‐Regional Agreements and Their Impact on Australia

This paper estimates the effects of emerging mega‐regional agreements on the economy of Australia using a Computable General Equilibrium model. Scenarios considered include the 11‐member Comprehensive and Progressive Agreement for Trans‐Pacific Partnership (CPTPP) agreement, its possible enlargement to include five additional members (‘TPP16’) and the Regional Comprehensive Economic Partnership (RCEP) currently under negotiation. The study finds that Australia stands to enjoy real income and trade gains along both the CPTPP and RCEP paths. However, since Australia is already benefiting from its own liberal trade policies and many prior trade agreements, benefits are relatively modest, typically below one per cent of real income.     

Causal relationship between apparel exports and macroeconomic factors

Apparel exports make a significant contribution to economic growth in major apparel exporting economies such as Bangladesh, Sri Lanka and Vietnam. This study aims to investigate the causal relationship between apparel export growth and its determinants such as GDP growth, infrastructure, financial development, foreign direct investment (FDI) and labour productivity using panel data from 11 major apparel exporting countries for the period 1996 to 2013. The results confirm a long-run equilibrium association among the variables and reveal that GDP growth, infrastructure, financial development, FDI, and labour productivity have a significant positive influence on apparel export growth. Furthermore, the heterogeneous panel non-causality test results suggest that GDP growth, infrastructure and labour productivity contribute to apparel export growth in the short-run. These findings have several policy implications for the governments of the countries under study.     

The impact of credit constraints on the performance of Chinese agricultural wholesalers

This article evaluates the impact of credit constraints on the performance of Chinese agricultural wholesalers. We estimate a stochastic frontier function using transaction and credit data of agricultural wholesalers from across China to estimate the efficiency and productivity impacts of credit constraints on sales of affected agricultural wholesalers. Empirical results show that micro- and smaller wholesalers are disproportionally impacted by credit constraints and that eliminating these constraints would increase the sales of affected agricultural wholesalers by approximately 15%. Thus, policies aimed at providing credit access for these wholesalers would significantly boost the performance of smaller agricultural wholesalers while improving the overall performance of the Chinese food supply chain without requiring additional non-credit inputs.     

Board Diversity and Performance of Philippine Firms: Do Women Matter?

International Advances in Economic Research - The issue of gender diversity on corporate boards is attracting research interest because of purported contributions of women directors, including...     

Do bookmakers possess superior skills to bettors in predicting outcomes?

In this paper we test the hypothesis that bookmakers display superior skills to bettors in predicting the outcome of sporting events by using matched data from traditional bookmaking and person-to-person exchanges. Employing a conditional logistic regression model on horse racing data from the UK we find that, in high liquidity betting markets, betting exchange odds have more predictive value than the corresponding bookmaker odds. To control for potential spillovers between the two markets, we repeat the analysis for cases where prices diverge significantly. Once again, exchange odds yield more valuable information concerning race outcomes than the bookmaker equivalents.     

Choice, price competition and complexity in markets for health insurance

The United States and other nations rely on consumer choice and price competition between competing health plans to allocate resources in the health sector. While a great deal of research has examined the efficiency consequences of adverse selection in health insurance markets, less attention has been devoted to other aspects of consumer choice. The nation of Switzerland offers a unique opportunity to study price competition in health insurance markets. Switzerland regulates health insurance markets with the aim of minimizing adverse selection and encouraging strong price competition. We examine consumer responses to price differences in local markets and the degree of price variation in local markets. Using both survey data and observations on local markets we obtain evidence suggesting that as the number of choices offered to individuals grows, their willingness to switch plans given a set of price dispersion differences declines, which allows large price differences for relatively homogeneous products to persist. We consider explanations for this phenomenon from economics and psychology.     

Conjectural variations, symmetric equilibria and economic policy

In this paper, we consider conjectural variations in a simple static general equilibrium model under oligopolistic competition. The modeling of conjectures captures the role played by beliefs in a micro-founded model. So, the economy may have three kinds of symmetric general equilibria. Furthermore, these equilibria can be Pareto-ranked by the conjectural variation parameter. Finally, we consider the implementation of a tax on the strategic behaviors in case of balanced-budget rule. The comparative statics illustrates the idea according to which the effectiveness of the multiplier mechanism to mitigate the market distortions depends on the symmetric equilibrium considered. Therefore, the effect of the tax on the prices and economic activity depends on the degree of market power which is conjectured by the agents.     

A comparison of citizen and “expert” preferences using an attribute-based approach to choice

This paper explores whether expert judgements can be taken as a proxy for citizen preferences for determining investment strategies for public goods. As an illustration, we focus on the provision of Public Rights Of Way (PROW) by Local Government Authorities in England. These provide rights of passage over property to those other than the owners, and little information is available on the welfare effects of changes in the provision and use of PROW. Given limited funds, reliance on expert judgement could be a cost effective alternative for decision-making compared with stated preference surveys of citizens. Two methods are compared. The Analytic Hierarchy Process (AHP) is used to elicit expert judgement to proxy citizen preferences for different attributes of PROW. The Choice Experiment (CE) technique is then used to derive preferences directly through personal interviews with citizens. Overall it was found that judicious use of AHP by experts can, in this instance, be used to represent citizen views. However, this result may not be easily generalisable to other settings.