This thesis applies the theory of rational addiction to sports gambling. Based on this theory developed by Gary Becker and Kevin Murphy, this thesis will attempt to show evidence that gambling on sports is an addictive behavior by seeing if past and future consumption of sports gambling has an effect on current consumption while accounting for other variables. Using two data sets on the amount of money bet monthly on football and annually on the Super Bowl, this thesis runs OLS and two-stage least square regressions of amount of money bet on the independent variables to see if a correlation exists. The results of these regressions show that both past and future consumption have a positive and significant relationship with current consumption in the overall football market but is not significant with the Super Bowl data set. However, the price variable for the overall football market was insignificantly positive, while the same variable was insignificantly negative in the Super Bowl data because of the alignment of the losses and bets variables.
With the increase in technology, the average fan of the National Football League (NFL) has changed. A large factor in this change has been the emergence of fantasy sports and in particular fantasy football. Although this market has continued to grow, very little is known on how fantasy football participation affects traditional sports consumption. Thus, this paper examines how an individual’s motivation to play fantasy football affects their consumption of the NFL licensed goods. An OLS regression was used to determine the impact that two different motivations, control and competitiveness, had on consumption. Discussed are the results of the paper along with the implications of this paper for marketers of the NFL and how they can benefit from these findings.
Previous studies have attempted to draw conclusions on the impact athletic success has on annual giving. There has yet to be conclusive data on this topic. This study will attempt to build on previous research by including more athletic success variables in the model. This study includes data for football, men’s and women’s basketball at Division I and Division III institutions. A separate ordinary least squares regression model was used for each form of annual giving, which included alumni giving, board giving and athletic giving, to identify the determinants of each. The results found for each variable differs depending on the form of giving. Women’s athletic success had an influence on annual donations whereas men’s sports did not and this was the only consistent result across all models. Overall, the results indicate that athletic success does not seem to have a significant impact on annual donations.
Social media is a relatively new form of brand advertising. This thesis evaluates the effect of different types of images and demographic factors on a Facebook post’s total likes, comments, and shares. Using data from a small bicycle brand, Borealis Bikes, that has built much of its brand image over the last six months through Facebook posts, an OLS regression analysis is used on three variations of my model to determine the effects of Facebook post content on different user groups. The subsequent analysis is applicable to other small brands that sell a luxury product.
Today, approximately 10 million Filipinos, either temporary or permanent migrants, are sending about US$20 billion worth of remittances to their families in the Philippines. The current government seeks to provide better economic opportunities so Filipinos will not see working abroad as the only choice but instead as an option. This thesis project attempts to quantitatively evaluate the extent of both push and pull factors determining a Filipino’s decision to migrate, either for permanent or for temporary purposes. Since migration is a national policy issue, understanding these factors that push and pull people to leave would be central to retaining Filipinos who would otherwise seek employment and serve abroad. The Ordinary Least Squares regression models are utilized and separated into permanent and temporary Filipino migrants to better differentiate push and pull factors influencing decisions made by Filipinos when migrating. The final results suggests that push and pull factors have different effects on the decisions of Filipinos depending on their destination countries and whether they are a permanent or temporary migrant.
The treatment of education as a production function has become a relevant way to numerically assess the state of schools and districts at a local, state, and federal level. This study examines the relationship between accreditation scores, a more holistic assessment of district quality and achievement, and the three main inputs of the education system –student, teachers, and expenditures—by using an OLS regression of Colorado Department of Education data for the 2010 – 2011 school year. Significant negative correlations between specific operating costs and pupil-teacher ratio were found with accreditation scores. These, paired with social demographic variables, were to have the largest impact on accreditation scores and thus, district quality and achievement.
During the current financial crisis there is a large amount of scrutiny surrounding executive compensation packages. The purpose of this thesis is finding an understanding of executive compensation based around the makeup of the board of directors. We examine firms from the S&P 100 investigating the relationship between CEO compensation and the makeup of the board of directors. For this end, we examine different pieces of CEO compensation packages: salary, options awards and stock awards, in relation to salary and as standalone pieces. We use OLS regressions to see if the make-up of the board demonstrates a significant relationship with CEO compensation. The purpose of this examination is to determine what effect, if any, the makeup of the board of directors has on deciding executive compensation.
This paper identifies factors that contribute to the decision by some married American women to “opt-out” of the labor market. Interestingly, many of these women have invested heavily in their education and have opportunities for career advancement. The “opting-out” phenomenon illustrates women who leave high-profile jobs to seek flexible work arrangements (e.g., part-time jobs) or to be stay-at-home mothers to balance work and family. Opting out is embedded in debates about traditional gender roles, wage penalty, and the loss of valuable human capital for the economy—highly educated mothers. Data for this study come from the 2012 American Time Use Survey (ATUS). This study uses Ordinary Least Squares (OLS) to evaluate the factors that influence the number of hours women work a week. It also uses logistic regression to assess if the effect of spouses’ work status holds after controlling for age, race, region, women’s education, work sector, occupation, household income, number of children, children under five, and time spent on childcare. Furthermore, this study evaluates the different time usage of parents and applies existent household utility maximization models to show the effect of women’s decision to opt out. This study found that while spouses’ works status is a significant contributor to women’s decision to opt out, there are other factors that are stronger predictors. This study also found that married mothers have a strong preference for housework and childcare, which leaves them with less leisure time compared to fathers. Ultimately, this study sheds light on the way a household maximizes its utility based on the division of labor agreed by the couple, which in turn influences labor supply.
Art is considered priceless, but it is bought and sold every day in the market. This paper investigates the determinants of price of Impressionist paintings in the secondary art market. Quantitative data (N=1,000) collected on the work of art, the artist, and the location and date collected for the last four years are used in a hedonic pricing model. The significant results include that canvas is the most expensive media and that the later in the auction, the less expensive a work will be sold for. This study contains significant variables to help an art buyer make more informed decisions in the subjective world of buying art as a heterogeneous and experience good.
The main focus of this study is to test how certain geopolitical events affected the trend in foreign direct investment into Jordan from 1993-2011. This study uses prior research on foreign direct investment and economic growth in developing countries to create a theoretical framework for the determinants of FDI into Jordan. A robust ordinary least squares regression was used to best explain the model. The study finds that the 6 events chosen did not statistically impact FDI into Jordan, and only the economic wellbeing of Jordan significantly affected foreign direct investment. The implications of these results affect the Jordanian government and foreign investors to make more conscious decisions about the economic benefits of investing. Further research is necessary to expand this theoretical model in Jordan and throughout the world.
The worldwide excitement generated by the Olympic Games needs to be examined in terms of economic impact. The Olympic Games is defined in economic terms by the Pre Olympic Period, the Olympic Year, and the Olympic Legacy Period. The purpose of this study is to determine the effects of hosting the Olympics on a nation’s employment rates. The hypothesis is that hosting the Olympics improves employment in the Pre Olympic Period and Olympic Year Period but likely has minimal effect during the Olympic Legacy Period. Contrary to the hypothesis the results suggest that hosting the Olympics has no significant effect on employment as a percentage of the population in an Olympic host nation. However, the trend in all three Olympic Periods was favorable for improved national employment.
Many studies have investigated which factors contribute to attendance in sports; however, many have not performed such analysis for the sport of football. This article, therefore, investigates the determinants of attendance in English football over eleven seasons, from 2002-2003 to 2012-2013 using a panel estimation method. Various seasonal statistics, economic factors, and demographic factors are used as determinants in the analysis. The results indicate that the league a team plays in, transfer expenditure, and team performance have a positive effect on attendance. On the other hand, we find that city population has a negative effect on attendance. These results provide suggestions for how club owner’s can implement policies in order to increase attendance, consequently increasing revenue and profits.
Recreational fishing license sales bring in huge revenues for state governments. There is tremendous value in knowing how a state could increase that revenue by selling more licenses. Much research has been done on modeling the demand for fishing using resident license sales as the dependent variable, but no one has looked at what determines non-resident fishing license sales. Therefore, the purpose of this thesis is to build a model to describe the determinants of non-resident fishing license sales in the state of Minnesota. Using twelve years worth of data and an ordinary least squares regression model this paper will examine the effects various variables have on non-resident license demand. Understanding what drives non-resident license sales can be very helpful for states hoping to increase license revenues.
The purpose of this study is to determine what age National Hockey League (NHL) players have their best seasons and how this relates to their contract earnings. The hypothesis is that NHL players have their peak performance at age 27, which indicates that long-term contracts that exceed this age create inefficiency. The study will examine player productivity by taking 30 NHL players and evaluating their performance in the years leading up to age 27 as well as years that follow. Performance measures include average point production and the highest average ice-time per game. The study will also use two OLS (Ordinary Least Squares) regressions where the dependent variables are average time on ice per game and capital hit, both good indicators of how valuable a player is to his team, as well as several statistical independent variables such as points, games played and most importantly age. By gaining knowledge of peak performance, NHL organizations could better manage their teams by limiting long-term contracts to players and as a result lessen the inefficiency that exists in the market.
Major League Soccer is a growing league within the United States. Although soccer is not an American sport, it is growing increasingly more popular. Using a simple OLS regression this thesis provides insight into factors that drive attendance in Major League Soccer. The purpose of this thesis is to determine the factors that increase attendance to help the struggling franchises grow their fan base.
Bullying among school-aged children has received notoriety in the media as of late, especially following highly publicized incidents in which victims have killed themselves or others as a result of being bullied. The following study analyzed data from the 2005-2006 Health Behavior in School-aged Children (HBSC) survey, a national survey of students, in order to determine the socio-demographic factors predictive of bullying behaviors. A dichotomous bully variable was derived from the data set and used in an initial logistic regression with a set of independent variables representing student race/ethnicity, gender, family SES, family structure, and parental engagement. Initial results demonstrated the significance of parental attachment above all other independent variables, in addition to gender and family SES. OLS regressions were then run in order to determine which independent variables affected parent engagement. Results indicated that both mothers and fathers, especially those from racial/ethnic minority backgrounds, were significantly less engaged with their children than their white counterparts, particularly racial/ethnic minority fathers being significantly less engaged with their daughters. These results point to a crisis of masculinity as well as greater structural inequality that prevents minority parents from being more engaged with their children.
Projected increases in demand for postsecondary credentials in the labor market have exposed an immediate need for the United States to significantly increase its college attainment rate. The current growth rate of college tuition and fees, however, has been outstripping inflation for decades, and is limiting access for a growing number of would-be college students. Significant variance in college tuition and financial aid levels among states complicate the issue, having prevented researchers from finding the true indicators that govern college tuition levels. I posit that increased future earnings potential is one of these indicators causing tuition price variance throughout the U.S. Specifically, each state’s college wage premium – the amount a college graduate can expect to make over a high school graduate – causes its tuition prices through a supply/demand equilibrium. I hypothesize that the average public college tuition in a state is directly correlated with its college wage premium. Colleges in states with a high premium have a more valuable product and are able to charge more. I test this by collecting data from College Board and the U.S. Census Bureau on average college tuition and median-level college wage premium, and run a simple OLS regression to determine the strength of correlation. I then discuss my results in the context of the United States’ college attainment goals.
This paper investigates the potential impact nearby unconventional gas wells may have on the value of single-family homes within Bradford County, Pennsylvania. A hedonic pricing model is utilized to determine if nearby unconventional shale wells impacted the prices of these properties from 2013 through 2014. Both OLS and single-log regression models were run using the number of active unconventional wells within five and ten kilometers as the exogenous variables of interest in addition to the characteristics of the properties. Prices of homes that had unconventional wells within ten kilometers did not seem to be affected, but when the distance was reduced to five kilometers, the value of properties declined by over four thousand dollars.
This study looks at the determinants of green goods and services (GGS) employment in the U.S. and specifically how high levels of carbon dioxide (CO2) emissions negatively affects green job growth. Previous studies on political, economic, and social factors were reviewed to generate the two-year (2010-2011) empirical model. The significant results found from the OLS regression include a negative effect of CO2 emissions on GGS employment. This paper indicates significant variables that can help researchers and policy makers understand what comprises green employment.
Hydraulic fracturing is a stimulation technique that allows for the commercial exploitation of oil and gas from reservoirs that would be otherwise uneconomical. Designing the fracture stimulation is a complicated process with many considerations, and better designs will ultimately improve production performance. Using fracture stimulation data and oil and gas production data for 33 wells in the Denver Basin, OLS regressions help determine which fracture stimulation design variables create the largest increases in post-fracture oil and gas production. This study finds that post-fracture cumulative production, particularly gas, is affected by the completion type—whether a new or existing geological formation in the well is fractured; the fracture type—the specific fracture treatment being used, such as a hybrid frac or water frac; and the average injection rate of the fracture treatment. These results help elucidate which treatment variables have the largest effect on production performance.
The Division 1 Men’s Ice Hockey Team for Colorado College sells out at their home arena, The World Arena, at 7,343. As one of two division 1 sports at Colorado College, this venue provides great entertainment for fans of the Colorado College Tigers. There have not been any studies to examine why and how the World Arena maintains such a successful rate of attendance. An Ordinary Least Squares Regression is used to determine which factors are significant in affecting attendance at Tiger Hockey Games. Ticket sales are used as a proxy for measuring attendance. Using two different models, results show that playing The Air Force Academy, being regular season champions, making it to the NCAA tournament and making it to the Frozen Four tournament are most significant in increasing attendance. Other variables that were also significant are penalty minutes.
With the increasing frequency, natural disasters are affecting more and more people these days. We investigate the relationship between natural disasters and divorce rate in the United States, specifically through the channel of housing destruction. We used panel data of 50 states for the years 2000 to 2009 from multiple sources. Becker’s marriage model suggests that destruction of houses through natural disasters is a great shock to a marital-specific capital and may be a trigger for a divorce. OLS regression with fixed effect reports a positive and significant relationship between divorce rate and per capita property damage through natural disasters, as hypothesized. The result was robust after the white’s correction and instrumenting medium income and home price.