The Effect of Recessions on Gambling Expenditures

This article examines the influence of the business cycle on expenditures of three major types of legalized gambling activities: Casino gambling, lottery, and pari-mutuel wagering. Empirical results are obtained using monthly aggregated US per capita consumption time series for the period 1959.01–2010.08. Among the three gambling activities only lottery consumption appears to be recession-proof. This series is characterized by a vast and solid growth that exceeds the growth in income and the growth in other gambling sectors. Casino gambling expenditures show a positive growth during expansions and no growth during recessions. Hence, the loss in income during recessions affects casino gambling. However, income shocks which are not directly related to the business cycle do not influence casino gambling expenditures. Pari-mutuel wagering displays an overall negative trend and its average growth rate is smaller than the growth in income, especially during recessions. The findings of this article provide important implications for the gambling industry and for local governments.     

Diversity and assemblage filtering in ground-dwelling spiders (Araneae) along an urbanisation gradient in Denmark

Urban Ecosystems - We studied the effects on spiders of a three-step rural-urban urbanisation gradient near a Danish town embedded in a historically forested landscape. Using pitfall traps set in...     

Seasonal patterns in slot-machine gambling in Germany

Although several aspects of gambling have been thoroughly investigated, little is known about the effect of seasonality on gambling. This study investigated the seasonal patterns in slot-machine usage, based on a unique data set of slot-machine usage from a German gambling centre using time series analysis. Knowledge of seasonal slot-machine usage patterns provides useful insights for researchers, gambling centre managers and legal authorities. Slot-machine gambling activity appears to be highest in November, when poor weather is compounded with lack of entertainment activities and lowest in December, when ample entertainment possibilities may distract people from gambling. The estimated daily and weekly seasonal patterns support the self-control literature, which suggests that self-regulatory failures are more likely when people are more tired; after work, or late in the evening. The high variation in gambling during winter implies that the availability of alternative entertainment activities may have an important influence on slot-machine usage.     

Two sample inference in functional linear models

We propose a method of comparing two functional linear models in which explanatory variables are functions (curves) and responses can be either scalars or functions. In such models, the role of parameter vectors (or matrices) is played by integral operators acting on a function space. We test the null hypothesis that these operators are the same in two independent samples. The complexity of the test statistics increases as we move from scalar to functional responses and relax assumptions on the covariance structure of the regressors. They all, however, have an asymptotic chi‐squared distribution with the number of degrees of freedom which depends on a specific setting. The test statistics are readily computable using the R package fda , and have good finite sample properties. The test is applied to egg‐laying curves of Mediterranean flies and to data from terrestrial magnetic observatories. The Canadian Journal of Statistics © 2009 Statistical Society of Canada     

Commuting Matrices in the Queue Length and Sojourn Time Analysis of MAP/MAP/1 Queues

Queues with Markovian arrival and service processes, i.e., MAP/MAP/1 queues, have been useful in the analysis of computer and communication systems and different representations for their stationary sojourn time and queue length distribution have been derived. More specifically, the class of MAP/MAP/1 queues lies at the intersection of the class of QBD queues and the class of semi-Markovian queues. While QBD queues have a matrix exponential representation for their queue length and sojourn time distribution of order N and N², respectively, where N is the size of the background continuous time Markov chain, the reverse is true for a semi-Markovian queue. As the class of MAP/MAP/1 queues lies at the intersection, both the queue length and sojourn time distribution of a MAP/MAP/1 queue has an order N matrix exponential representation. The aim of this article is to understand why the order N² distributions of the sojourn time of a QBD queue and the queue length of a semi-Markovian queue can be reduced to an order N distribution in the specific case of a MAP/MAP/1 queue. We show that the key observation exists in establishing the commutativity of some fundamental matrices involved in the analysis of the MAP/MAP/1 queue.     

International Conference on "Statistical Latent Variables Models in the Health Sciences"

Call for Papers

International Conference on "Statistical Latent Variables Models in the Health Sciences"     

Atypical feeding of woodpeckers,crows and redstarts on mass-swarming <Emphasis Type="Italic">Hydropsyche pellucidula</Emphasis> caddisflies attracted to glass panes

Artificial shiny dark objects reflecting horizontally polarized light (e.g. asphalt roads, black cars, solar panels) can attract polarotactic aquatic insects in mass. Glass buildings on the riverside also lure swarming caddisflies emerging from the river. These caddisfly swarms are a temporary rich food source for certain bird species, such as white wagtails (Motacilla alba), house sparrows (Passer domesticus), magpies (Pica pica) and great tits (Parus major). We report here about our observation of great spotted woodpeckers (Dendrocopos major), hooded crows (Corvus cornix) and black redstarts (Phoenicurus ochruros) feeding atypically on Hydropsyche pellucidula caddisflies swarming at glass buildings placed on the shore of the river Danube in Budapest (Hungary).     

Structural breaks in panel data: Large number of panels and short length time series

The detection of (structural) breaks or the so called change point problem has drawn increasing attention from the theoretical, applied economic and financial fields. Much of the existing research concentrates on the detection of change points and asymptotic properties of their estimators in panels when N, the number of panels, as well as T, the number of observations in each panel are large. In this paper we pursue a different approach, i.e., we consider the asymptotic properties when N→∞ while keeping T fixed. This situation is typically related to large (firm-level) data containing financial information about an immense number of firms/stocks across a limited number of years/quarters/months. We propose a general approach for testing for break(s) in this setup. In particular, we obtain the asymptotic behavior of test statistics. We also propose a wild bootstrap procedure that could be used to generate the critical values of the test statistics. The theoretical approach is supplemented by numerous simulations and by an empirical illustration. We demonstrate that the testing procedure works well in the framework of the four factors CAPM model. In particular, we estimate the breaks in the monthly returns of US mutual funds during the period January 2006 to February 2010 which covers the subprime crises.