An Empirical Framework for Assessing Market Saturation in the U.S. Casino Industry

Abstract What mental models do individuals use to approximate their tax schedule? Using incentivized forecasts of the U.S. Federal income tax schedule, we estimate the prevalence of the “schmeduling” heuristics for constructing mental representations of nonlinear incentive schemes. We find evidence of widespread reliance on the “ironing” heuristic, which linearizes the tax schedule using one’s average tax rate. In our preferred specification, 43% of the population irons. We find no evidence of reliance on the “spotlighting” heuristic, which linearizes the tax schedule using one’s marginal tax rate. We show that the presence of ironing rationalizes a number of empirical patterns in individuals’ perceptions of tax liability across the income distribution. Furthermore, while our empirical framework accommodates a rich class of other misperceptions, we find that a simple model including only ironers and correct forecasters accurately predicts average underestimation of marginal tax rates. We replicate our finding of prevalent ironing, and a lack of other systematic misperceptions, in a controlled experiment that studies real-stakes decisions across exogenously varied tax schedules. To illustrate the policy relevance of the ironing heuristic, we show that it augments the benefits of progressive taxation in a standard model of earnings choice. We quantify these benefits in a calibrated model of the U.S. tax system.

Download Full-text

Estimating the Impact of Illicit Drugs Use on Gambling Behavior: Evidence from the U.S. Casino Industry and Drugs Arrests

SSRN Electronic Journal ◽

10.2139/ssrn.951843 ◽

2007 ◽

Author(s):

Erik H. B. Feyen

Keyword(s):

Illicit Drugs ◽

Gambling Behavior ◽

Casino Industry ◽

The Impact ◽

The U.S

Download Full-text

Excessive leverage and firm performance in competitive casino markets

Tourism and Hospitality Research ◽

10.1177/1467358416671564 ◽

2016 ◽

Vol 18 (4) ◽

pp. 498-504

Author(s):

Kwanglim Seo

Keyword(s):

Firm Performance ◽

Interest Rates ◽

Firm Value ◽

Growth Strategy ◽

Publicly Traded ◽

Casino Industry ◽

Financing Costs ◽

Negative Effect ◽

The Relationship ◽

The U.S

As competition and interest rates continue to rise, it becomes more critical to understand how leveraging in a competitive market will impact casino firms whose returns are sensitive to changes in financing costs. However, research on the effects of leverage and competition on firm value is scarce. Therefore, the purpose of this study is to explore the effectiveness of leveraging strategies by examining the moderating effect of competition on the relationship between leverage and firm performance in the U.S. casino industry. Analyzing a panel dataset of U.S. publicly traded casino firms from 1992 to 2014, this study finds an inverted U-shaped relationship between leverage and firm performance in the U.S. casino industry while the negative effect of leverage intensifies for highly leveraged casino firms as levels of competition increase. The findings of this study provide valuable insights into whether or not a leveraged growth strategy can contribute to improving performance in the competitive casino markets.

Download Full-text

Making and Selling Cars: Innovation and Change in the U.S. Automotive Industry. By James M. Rubinstein. Baltimore and London: The Johns Hopkins University Press, 2001. Pp. ix, 401. $45.00.

The Journal of Economic History ◽

10.1017/s0022050703542358 ◽

2003 ◽

Vol 63 (3) ◽

pp. 910-913

Author(s):

ANTHONY PATRICK OBRIEN

Keyword(s):

Automotive Industry ◽

Johns Hopkins University ◽

Innovation And Change ◽

The U.S

Download Full-text

Historical Introduction

Proceedings, annual meeting, Electron Microscopy Society of America ◽

10.1017/s0424820100077670 ◽

1977 ◽

Vol 35 ◽

pp. 2-5

Author(s):

R. D. Heidenreich

Keyword(s):

Electron Emission ◽

Secondary Electron ◽

Secondary Electron Emission ◽

50Th Anniversary ◽

Secondary Emission ◽

Wave Nature ◽

Nobel Prize In Physics ◽

Primary Electrons ◽

The U.S ◽

Mutual Agreement

This program has been organized by the EMSA to commensurate the 50th anniversary of the experimental verification of the wave nature of the electron. Davisson and Germer in the U.S. and Thomson and Reid in Britian accomplished this at about the same time. Their findings were published in Nature in 1927 by mutual agreement since their independent efforts had led to the same conclusion at about the same time. In 1937 Davisson and Thomson shared the Nobel Prize in physics for demonstrating the wave nature of the electron deduced in 1924 by Louis de Broglie.The Davisson experiments (1921-1927) were concerned with the angular distribution of secondary electron emission from nickel surfaces produced by 150 volt primary electrons. The motivation was the effect of secondary emission on the characteristics of vacuum tubes but significant deviations from the results expected for a corpuscular electron led to a diffraction interpretation suggested by Elasser in 1925.

Download Full-text

Variations in Surface Textures of Quartz Sand using Electron Microscopy

Proceedings, annual meeting, Electron Microscopy Society of America ◽

10.1017/s0424820100069466 ◽

1970 ◽

Vol 28 ◽

pp. 494-495

Author(s):

Eugene J. Amaral

Keyword(s):

Electron Microscopy ◽

Glass Industry ◽

Glass Slide ◽

Distilled Water ◽

Early Paleozoic ◽

Secondary Effects ◽

Surface Textures ◽

High Silica ◽

Sand Deposit ◽

The U.S

Examination of sand grain surfaces from early Paleozoic sandstones by electron microscopy reveals a variety of secondary effects caused by rock-forming processes after final deposition of the sand. Detailed studies were conducted on both coarse (≥0.71mm) and fine (=0.25mm) fractions of St. Peter Sandstone, a widespread sand deposit underlying much of the U.S. Central Interior and used in the glass industry because of its remarkably high silica purity.The very friable sandstone was disaggregated and sieved to obtain the two size fractions, and then cleaned by boiling in HCl to remove any iron impurities and rinsed in distilled water. The sand grains were then partially embedded by sprinkling them onto a glass slide coated with a thin tacky layer of latex. Direct platinum shadowed carbon replicas were made of the exposed sand grain surfaces, and were separated by dissolution of the silica in HF acid.

Download Full-text

The Effects of Estradiol on Chronically Damaged Human Fallopian Tubes: A SEM Study

Proceedings, annual meeting, Electron Microscopy Society of America ◽

10.1017/s0424820100119934 ◽

1985 ◽

Vol 43 ◽

pp. 648-649

Author(s):

A. Toledo ◽

G. Stoelk ◽

M. Yussman ◽

R.P. Apkarian

Keyword(s):

Menstrual Cycle ◽

Epithelial Cell ◽

Secretory Cell ◽

Estrogen Therapy ◽

Fallopian Tubes ◽

Cell Surfaces ◽

Proliferative Phase ◽

Cyclic Patterns ◽

Sem Study ◽

The U.S

Today it is estimated that one of every three women in the U.S. will have problems achieving pregnancy. 20-30% of these women will have some form of oviductal problems as the etiology of their infertility. Chronically damaged oviducts present problems with loss of both ciliary and microvillar epithelial cell surfaces. Estradiol is known to influence cyclic patterns in secretory cell microvilli and tubal ciliogenesis, The purpose of this study was to assess whether estrogen therapy could stimulate ciliogenesis in chronically damaged human fallopian tubes.Tissues from large hydrosalpinges were obtained from six women undergoing tuboplastic repair while in the early proliferative phase of fheir menstrual cycle. In each case the damaged tissue was rinsed in heparinized Ringers-lactate and quartered.

Download Full-text

Antitrust: U.S. Supreme Court Affirms FTC Jurisdiction but Vacates Scope of Analysis on CDA Policy

The Journal of Law Medicine & Ethics ◽

10.1017/s1073110500012912 ◽

1999 ◽

Vol 27 (2) ◽

pp. 197-198

Author(s):

Joseph R. Zakhary

Keyword(s):

Public Relations ◽

Supreme Court ◽

Federal Trade Commission ◽

Ninth Circuit ◽

Court Of Appeals ◽

For Profit ◽

Rule Of Reason ◽

Antitrust Analysis ◽

Business Financing ◽

The U.S

In California Dental Association v. FTC, 119 S. Ct. 1604 (1999), the U.S. Supreme Court reviewed a decision by the U.S. Court of Appeals for the Ninth Circuit that a nonprofit affiliation of dentists violated section 5 of the Federal Trade Commission Act (FTCA), 15 U.S.C.A. § 45 (1998), which prohibits unfair competition. The Court examined two issues: (1) the Federal Trade Commission's (FTC) jurisdiction over the California Dental Association (CDA); and (2) the proper scope of antitrust analysis. The Court unanimously held that CDA was subject to FTC's jurisdiction, but split 5-4 in its finding that the district court's use of abbreviated rule-of-reason analysis was inappropriate.CDA is a voluntary, nonprofit association of local dental societies. It boasts approximately 19,000 members, who constitute roughly threequarters of the dentists practicing in California. Although a nonprofit, CDA includes for-profit subsidiaries that financially benefit CDA members. CDA gives its members access to insurance and business financing, and lobbies and litigates on their behalf. Members also benefit from CDA marketing and public relations campaigns.

Download Full-text