scholarly journals Going for the Gold: The Economics of the Olympics

2016 ◽  
Vol 30 (2) ◽  
pp. 201-218 ◽  
Author(s):  
Robert A. Baade ◽  
Victor A. Matheson
Keyword(s):  
Investment Decision ◽  
Cost Benefit ◽  
Good Effect ◽  
Costs And Benefits ◽  
Long Run ◽  
Short Run ◽  
Net Benefits ◽  
Opening And Closing ◽  
The Cost ◽  
Bidding Process

In this paper, we explore the costs and benefits of hosting the Olympic Games. On the cost side, there are three major categories: general infrastructure such as transportation and housing to accommodate athletes and fans; specific sports infrastructure required for competition venues; and operational costs, including general administration as well as the opening and closing ceremony and security. Three major categories of benefits also exist: the short-run benefits of tourist spending during the Games; the long-run benefits or the “Olympic legacy” which might include improvements in infrastructure and increased trade, foreign investment, or tourism after the Games; and intangible benefits such as the “feel-good effect” or civic pride. Each of these costs and benefits will be addressed in turn, but the overwhelming conclusion is that in most cases the Olympics are a money-losing proposition for host cities; they result in positive net benefits only under very specific and unusual circumstances. Furthermore, the cost–benefit proposition is worse for cities in developing countries than for those in the industrialized world. In closing, we discuss why what looks like an increasingly poor investment decision on the part of cities still receives significant bidding interest and whether changes in the bidding process of the International Olympic Committee (IOC) will improve outcomes for potential hosts.

scholarly journals Implications of Non –productive and Productive Government Expenditure on Output and Employment: Evidence From Nigeria

2021 ◽  
Vol 12 (2) ◽  
pp. 51
Author(s):  
Abiola John Asaleye ◽  
Rotdelmwa Filibus Maimako ◽  
Henry Inegbedion ◽  
Adedoyin Isola Lawal ◽  
Charity O. Aremu
Keyword(s):  
Government Expenditure ◽  
Cost Benefit ◽  
Vector Error Correction ◽  
Long Run ◽  
Theoretical Predictions ◽  
Short Run ◽  
Nigerian Government ◽  
The Cost ◽  
The Impact ◽  
Productive Government Expenditure

Nigerian government expenditure has been on an increasing trend over the years, and its contribution to sustainable economic development; promoting long-term output and employment has generated controversial issues in the literature. Against this background, this study analyses the impact of both productive and non-productive government expenditure on output and employment in Nigeria using the Vector Error Correction Model, The long-run equations for output and employment are established. The joint short and long-run causality was also investigated. The study shows a contrary result to theoretical predictions; Nigeria's long-run growth is not promoting by productive government expenditure. Furthermore, there is joint short and long-run causality between employment and government expenditure channels. Evidence from the output equation indicates no joint long and short-run causality. The implication of this result shows that government expenditure either productive or non-productive, has not improved the economy, although there is an increase in employment generation through the non-productive channel, which has not promoted broad-based growth. For the Nigerian government to improve the situation, the study recommends a critical assessment of public expenditure through the cost-benefit approach.

scholarly journals A Review of the Regulatory Impact Analysis of Risk-Based Capital and Related Liquidity Rules

2021 ◽  
Vol 14 (1) ◽  
pp. 24
Author(s):  
Thomas L. Hogan
Keyword(s):  
Impact Analysis ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Quantitative Evidence ◽  
Regulatory Impact Analysis ◽  
Regulatory Impact ◽  
Net Benefits ◽  
The Cost

This paper reviews the cost-benefit analysis, or “regulatory impact analysis” (RIA), in US bank regulators’ risk-based capital (RBC) rule proposals. We review the principles of cost-benefit analysis and its application by US bank regulators. We provide a brief background on RBC rules and review the literature on their costs and benefits. We then evaluate 27 proposed RBC rules and related rules on bank liquidity. We find that nine of the 27 rules include RIAs. Five of the RIAs claim the proposed rule will create net benefits, but none provide quantitative evidence that the benefits exceed the costs. In two proposals, the evidence cited indicates the rules’ net benefits may actually be negative.

Hostile Takeovers and Anti-takeover Defenses in the Russian Corporate Market

2007 ◽  
pp. 70-84 ◽  
Author(s):  
E. Demidova
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Hostile Takeovers ◽  
Russian Market ◽  
Takeover Defenses ◽  
The Cost ◽  
European Markets

This article analyzes definitions and the role of hostile takeovers at the Russian and European markets for corporate control. It develops the methodology of assessing the efficiency of anti-takeover defenses adapted to the conditions of the Russian market. The paper uses the cost-benefit analysis, where the costs and benefits of the pre-bid and post-bid defenses are compared.

scholarly journals Application of the theory of decision making under risk and uncertainty at modelling of costs

2010 ◽  
Vol 56 (No. 5) ◽  
pp. 201-208 ◽  
Author(s):  
M. Beranová ◽  
D. Martinovičová
Keyword(s):  
Decision Making ◽  
Financial Accounting ◽  
Cost Functions ◽  
Risk And Uncertainty ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Bayesian Theorem ◽  
Long Run ◽  
Short Run ◽  
The Cost

The costs functions are mentioned mostly in the relation to the Break-even Analysis where they are presented in the linear form. But there exist several different types and forms of cost functions. Fist of all, it is necessary to distinguish between the short-run and long-run cost function that are both very important tools of the managerial decision making even if each one is used on a different level of management. Also several methods of estimation of the cost function's parameters are elaborated in the literature. But all these methods are based on the past data taken from the financial accounting while the financial accounting is not able to separate the fixed and variable costs and it is also strongly adjusted to taxation in the many companies. As a tool of the managerial decision making support, the cost functions should provide a vision to the future where many factors of risk and uncertainty influence economic results. Consequently, these random factors should be considered in the construction of cost functions, especially in the long-run. In order to quantify the influences of these risks and uncertainties, the authors submit the application of the Bayesian Theorem.

scholarly journals ESTIMATING PROFIT , COST FUNCTION AND TECHNICAL EFFICIENCIES OF RICE PRODUCTION IN NEJAF FOR SEASON 2016*

2019 ◽  
Vol 50 (5) ◽  
Author(s):  
Al-Mashhdani & Mahmood
Keyword(s):  
Cost Function ◽  
Output Level ◽  
Average Output ◽  
Optimal Output ◽  
Long Run ◽  
Actual Output ◽  
Short Run ◽  
Profit Maximizing ◽  
Economic Price ◽  
The Cost

The aim of this study was to estimate the profit and cost functions as well as economic, price, cost, and technical efficiencies beside the other economic indices at actual, optimal and profit-maximizing output of rice. A random sample of 240 rice  farms in Nejaf province was used during the agricultural season 2016. From efficiency scales of profit function, it was shown that the output quantity had the greatest impact on the profit compared to other variables (average output costs and price). According to the cost function, the optimum output level and the profit- maximizing output  level for the short run were 64.84 tons and 117.4 tons respectively. The lowest price that the farmer can accept was 194.83 thousand dinars / ton. At this price, the producer loss all fixed costs in the short run, hoping that the price of rice will improve in the long run. Net profit was estimated on the basis of actual output, cost minimizing output (optimal) and profit-maximizing output, which amounted to 8084.32, 30852.65 and 45547.5 thousand dinars, respectively. The of technical efficiency were 34%. and the cost efficiency was 0.52. We conclude from the study that economic resources have not been exploited optimally, indicating that actual output is far from optimal output. The study recommends a output policy aimed at increasing economic efficiency and optimizing the use of available resources.

scholarly journals THE COST-BENEFIT ANALYSIS OF THE ROMANIAN NATIONAL GAMBLING OFFICE

2020 ◽  
Vol 13(62) (2) ◽  
pp. 157-166
Author(s):  
Ștefan Bulboacă ◽  
Ovidiu Mircea Țierean
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Effects ◽  
Public Institution ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Societal Costs ◽  
Gambling Industry ◽  
The Cost ◽  
The Way

"This paper aims to evaluate the economic effects that the Romanian National Gambling Office has over the gambling industry and to determine whether this public institution brings enough benefits to cover the costs. The aim of the research was to gather information about the Romanian gambling industry, the way that this industry is managed and to make a comparison between its societal costs and benefits. "

Exploration and exploitation in organizational learning

2009 ◽  
Author(s):  
James G. March
Keyword(s):  
Organizational Learning ◽  
Competitive Advantage ◽  
Costs And Benefits ◽  
Exploration And Exploitation ◽  
Ecological Interaction ◽  
Mutual Learning ◽  
Long Run ◽  
Adaptive Processes ◽  
Short Run ◽  
Use Of Knowledge

- This paper considers the relation between the exploration of new possibilities and the exploitation of old certainties in organizational learning. It examines some complications in allocating resources between the two, particularly those introduced by the distribution of costs and benefits across time and space, and the effects of ecological interaction. Two general situations involving the development and use of knowledge in organizations are modeled. The first is the case of mutual learning between members of an organization and an organizational code. The .second is the case of learning and competitive advantage in competition for primacy. The paper develops an argument that adaptive processes, by refining exploitation more rapidly than exploration, are likely to become effective in the short run but self-destructive in the long run. The possibility that certain common organizational practices ameliorate that tendency is assessed.

A Handbook for Wellbeing Policy-Making

2021 ◽  
Author(s):  
Paul Frijters ◽  
Christian Krekel
Keyword(s):  
Policy Evaluation ◽  
Subjective Wellbeing ◽  
Cost Benefit ◽  
Daily Practice ◽  
Political Agenda ◽  
Technical Standards ◽  
Policy Practice ◽  
Long Run ◽  
Short Run ◽  
History Of

Around the world, governments are starting to directly measure the subjective wellbeing of their citizens and to use it for policy evaluation and appraisal. What would happen if a country were to move from using GDP to using subjective wellbeing as the primary metric for measuring economic and societal progress? Would policy priorities change? Would we continue to care about economic growth? What role would different government institutions play in such a scenario? And, most importantly, how could this be implemented in daily practice, for example in policy evaluations and appraisals of government analysts, or in political agenda-setting at the top level? This book provides answers to these questions from a conceptual to a technical level by showing how direct measures of subjective wellbeing can be used for policy evaluation and appraisal, either complementary in the short run or even entirely in the long run. It gives a brief history of the idea that governments should care about the happiness of their citizens, provides theories, makes suggestions for direct measurement, derives technical standards, shows how to conduct wellbeing cost-effectiveness and cost-benefit analyses, and gives examples of how real-world policy evaluations and appraisals would change if they were based on subjective wellbeing. In doing so, the book serves the growing interest of governments as well as non-governmental and international organizations in how to put subjective wellbeing metrics into policy practice.

scholarly journals Guide to cost benefit analysis of community-based interventions

2014 ◽  
Vol 3 (5) ◽  
pp. 47
Author(s):  
Sanni Yaya ◽  
Xiaonan Li
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Ratio ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Community Based Interventions ◽  
Community Based ◽  
Benefit Cost Ratio ◽  
The Cost

This paper offers a general guide on how to conduct a proper economic analysis for community-based intervention projects. Identification and quantification of costs and benefits are the focus of the cost benefit analysis. We categorize costs and benefits from human and physical perspectives and pay special attention to the measures of saving human lives accompanied by the proposed calculation methods. We recommend net present value and benefit-cost ratio as the criteria to assess projects and highlight some challenges remaining in the analysis.

scholarly journals Local Economic Impacts of Coal Mining in the United States 1870 to 1970

2016 ◽  
Vol 76 (4) ◽  
pp. 1152-1181 ◽  
Author(s):  
Mike Matheis
Keyword(s):  
Coal Mining ◽  
Resource Curse ◽  
The United States ◽  
County Level ◽  
Long Run ◽  
Local Areas ◽  
Manufacturing Activity ◽  
Short Run ◽  
Current Resource ◽  
Net Benefits

This article expands upon the current “resource curse” literature by using newly collected county data, spanning over a century, to capture the short- and long-run effects of coal mining activity. It provides evidence that increased levels of coal production had positive net impacts on county-level population and manufacturing activity over an initial ten-year span, which become negative over the subsequent decades. The results provide evidence that any existence of a “resource curse” on local areas due to coal mining is a long-run phenomenon, and in the short run there are potential net benefits.

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