We revisit the incentive effects of elimination tournaments with a fresh approach to identification, the results of which strongly support that performance improves under the threat of elimination and does so, but only in part, due to increases in risk taking. Where we can separately identify...

Recent analyses relate increases in the growth rate of countries to anticipation effects caused by bidding for the Olympic Games, so called news shocks. We argue that these findings should be interpreted cautiously. First, these analyses may suffer from an omitted variable bias because they...

This paper examines the size effects of volatility spillovers for firm performance and exchange rates with asymmetry in the Taiwan tourism industry. The analysis is based on two conditional multivariate models, BEKK-AGARCH and VARMA-AGARCH, in the volatility specification. Daily data from 1 July...

To assess the likely effects of population ageing on the outcomes of direct democracy, we analyze the effect of age on voting decisions in public referenda. To this end, we provide the first quantitative review of the literature and a case study of the Stuttgart 21 referendum on one of the...

This article investigates whether the distance between origin and destination has played an increased role in shaping Italy’s domestic tourism flows during the recent years of economic recession. Indeed, the occurrence of closer tourism destinations, as a consequence of the economic crisis,...

This paper analyzes data from a tournament, namely the National Hockey League regular scheduled season of games, which provides incentives to increase effort in order to reach the playoffs and incentives to decrease effort once a team has been eliminated from playoff considerations because of...

We perform an econometric analysis of the gambling market in Italy over the recession (2009-2012), observing the consumption patterns in "luck" and "skill" games. We find a different effect between the early and late period of the crisis. Whereas gambling initially behaves as normal good, in the...

Culture is more and more considered as an important driver of tourism. However, it is critical, for policymakers, to evaluate the potential returns from investments in culture and generally cultural offer, in particular in multiregion settings with a potentially inefficient distribution of...

Are people prone to selecting occupations with highly skewed income distributions despite minuscule chances of success? Assembling a comprehensive pool of potential teenage entrants into professional tennis (a typical winner-take-all market), we construct objective measures of relative ability...

Football is a low-scoring sport in which a few single moments can change the result of an entire match, regardless of what else happened during the 90 minutes on the field. Thus, random forces can have a substantial influence on match outcomes. However, decision makers in European football clubs...