The first song I learned to play all the way through on guitar was Rush's Xanadu. Then again, I was about 15 or 16 years old at the time, not 7 like this burgeoning drummer playing Rush's Tom Sawyer - impressively too.
Every mainstream principles of microeconomics textbook has a treatment of the shut down condition. According to the theory, a firm will shut down operations in the short run (temporarily close) if the price of its product falls below average variable cost. Put another (and, in my opinion, more intuitive) way, a firm will shut down in the short run if demand for its product won't generate sufficient revenue to pay its variable cost.
Earth shattering, eh? But as an econ prof, I try to find unusual examples to talk about in class. Here's the most recent one I ran across this morning.
Some 4,000 sightseers have been trekking to the Apostle Islands each weekend to see glistening ice caves made accessible by frozen Lake Superior, leading to an unexpected tourism boom in otherwise hibernating villages.
Small businesses in Cornucopia and Bayfield, in far northern Wisconsin, are generally closed for the winter. However, establishments including an inn and general store are staying open to cater to the brisk business, Wisconsin Public Radio reported.
Mike Upthegrove, who runs Ehler's General Store in Cornucopia, generally closes down until April. But because of the surge in visitors he said he'd stay open during the weekend because the ice-cavers need hot drinks and brats.
Down the road, The Village Inn is full and its restaurant is unusually busy, proprietor Cheryl O'Bryon said.
"The last three weekends have been like nothing we've seen before," O'Bryon said. "It is definitely an economic miracle, there's no doubt about that. I'm staffed right now like I would be on the Fourth of July weekend. It's incredible."
There was a problem with the blog that resulted in readers not being able to see its design. As a result, readers would see the blog as if it were created by a novice html programmer programming by hand circa 1996. Now that I have it fixed, you can (obviously see the design). Also, you can access the blog through www.marketpowerblog.com or marketpower.blogspot.com.
CALL FOR PAPERS IX GIJON CONFERENCE ON SPORTS ECONOMICS “NEALE GOLDEN ANNIVERSARY” MAY 9TH- 10TH 2014
The annual conference of the Sports Economics Observatory Foundation (FOED, University of Oviedo) will be held in Gijon (Spain) at the Paraninfo of Laboral, Faculty of Commerce, Tourism and Social Sciences Jovellanos, May 9-10, 2014 (Friday and Saturday).
Individuals are invited to submit unpublished communications related to any topic and issue related to Walter Neale’s article “The Peculiar Economics of Professional Sports: A Contribution to the Theory of the Firm in Sporting Competition and in Market Competition” published in the Quarterly Journal of Economics in 1964. There will be a special session on the 'single entity' idea of a sport league.
All of the submissions will be assessed by a scientific committee.
Accommodation and meals during the conference are the responsibility of the organization.
Submission norms: Authors will send an abstract (about 200 words) of the paper to firstname.lastname@example.org email@example.com
Abstracts submission: until February 15. Papers selected: March, 2. Final paper: May, 30.
Several papers will be selected to be published in a special issue of the Journal of Sport Economics. The rest of the papers will be published in a book edited by the organizers.
Scientific Committee Chairman: Késenne, Stefan. Professor of Economics at the University of Antwerp and Leuven, Belgium.
Members: Andeff, Wladimir. Professor of Economics at Paris 1 Pantheón Sorbona, France. Baade, Robert. Professor of Economics at Lake Forest College, Chicago, United States. Frick, Bernd. Professor of Economics at the University of Paderborn, Germany. Fort, Rodney. Professor of Sport Management at the Universidad of Michigan, United States. García, Jaume. Professor of Applied Economics at the Universitat Pompeu Fabra in Barcelona. Otero-Moreno, José María. Professor of Applied Economics at the University of Malaga, Spain. Noll, Roger. Professor Emeritus of Economics at Stanford University, United States. Szymanski, Stefan. Professor of Economics at the Cass Business School. City University. London, UK. Vrooman, John. Professor of Economics at the Vanderbilt University, United States.
Organizing Committee Plácido Rodríguez Stefan Késenne Jaume García
Dennis Coates of the University of Maryland - Baltimore County is organizing sports economics sessions for the North American Association of Sports Economists (NAASE) to be held at this years Southern Economics Association (SEA) conference in Atlanta. Here is the CFP:
The North American Association of Sports Economists (NAASE) is again organizing sports economics sessions at the Southern Economic Association (SEA) conference. The conference will be held November 22-24, 2014 in Atlanta, Georgia. The basic format of the NAASE sessions will be the same as in the past. I hope to have several complete sessions to take to the SEA organizers to assure us of a good room and good session times.
If you have a sports economics paper you would like to present in Atlanta, please email Dennis Coates (see below for contact information) a title and full contact information including post and email addresses. Your submission must contain full contact information for all co-authors.
Here is the contact information for the session organizer:
You'll have to watch the video for information about the Stoner Bowl. Here is the link to Chef John's page describing his prediction method in detail. I smell a future Journal of Sports Economics paper examining this betting method. Or maybe that's lunch that I smell.