Are Sunk Costs Irrelevant? Evidence from Playing Time in the National Basketball Association

The relevance of sunk costs in decision making is one of the major sources of disagreement between neoclassical economists and behavioral economists. We test the importance of sunk costs by examining the role of a player's draft position on his playing time in the National Basketball Association. Specifically, we ask whether players taken as lottery picks or in the first round of the draft are treated differently from otherwise identical players who are chosen later. We build on previous studies in three ways. First, we study a time period that had a stronger contrast between the financial commitment to first and second-round draft picks. Second, we use a better measure of playing time by accounting fully for the time a player loses to injury, suspension, or other exogenous factor. Finally and most importantly, we use a more sophisticated methodology regression discontinuity to test for whether teams treat lottery picks or first-round picks differently from later picks. Our results find little or no impact of draft round or lottery status on playing time. Hence, our findings strongly support the neoclassical outlook

Youth sports and the accumulation of human capital

In response to declining budgets, many school districts in the US have reduced funding for sports. In Europe, parents may respond to difficult economic times by spending less on sports clubs for their children. Such cuts are unwise if participating in sports is an investment good as well as a consumption good and adds to students' human capital. The value of sports is hard to measure because people who already possess the skills needed to succeed in school and beyond might be more likely to participate in sports. Most studies that account for this endogeneity find that participation in youth sports improves academic and labor market performance

Collegiate Athletic Directors as Entrepreneurs

One can define entrepreneurship, at its most basic level, as rent-seeking behavior. This behavior can be productive, as when firms innovate to create new or better products or when they enter a market to increase output where price exceeds marginal cost. Rent-seeking can also be unproductive, particularly when it interfaces with the public sector. In such cases, firms may try to create or preserve rents by securing monopoly power from the government. Traditionally, economists have analyzed rent-seeking behavior solely in the private and government sectors of the economy. I extend the concept to the not-for-profit sector, in particular to the sphere of higher education. Specifically, I construct a simple model of rent-seeking behavior by colleges and universities, as seen by their decisions to fund some sports and not fund others. While I associate the funding decision with the collegiate athletic directors, one can just as easily attribute the decisions I describe to the president or board of trustees of the university. The findings show why football and, to a lesser extent, men?s basketball tend to dominate intercollegiate athletics. They also demonstrate why schools sometimes differ in the sports they offer and why Title IX poses such a dilemma for college athletics. Finally, they show that appealing to “government†– in the form of the National Collegiate Athletic Association (NCAA) – may result in productive rent-seeking behavior rather than unproductive behavior. In the next section, I introduce the notion of the athletic director as entrepreneur. In Section II, I present the basic model of how athletic directors behave. In Section III, I extend the model to show how the NCAA and Title IX affect the basic model. A conclusion follows

Academic Achievement of Students in a Charter Homeschool

A recent development in education is the public charter school as a homeschool model. In several states across the nation, a child may enroll in an independent study program of a public charter school and base his or her studies in the home. This model in the realm of education is called charter homeschool. The state of California has over 120 operating charter homeschools, also known as independent study programs or non-classroom based charter schools. The delivery of instruction from non-classroom based programs has begun to challenge traditional definitions of public schooling. The increased state accountability demands of student academic achievement, challenges the viability of sustaining these alternative schooling models. The purpose of this study was to investigate the academic achievement of students in a charter homeschool. This explanatory mixed methods study analyzed standardized test scores for students 2nd-11th grades over a two year academic term using SPSS. A survey methodology was employed to examine demographic trends, parent perceptions of academic achievement, reasons for choosing a charter home school as well as perceived effectiveness. A focus group interview was conducted with teachers, parents, and an administrator to determine the effectiveness of the charter homeschool as an alternative path of education for students. The following were the key questions guiding the study: How do students in a charter homeschool score on the California standardized tests? How does the average mean of test scores of the charter homeschool students compare to California state averages for public school students? What is the difference in test scores among groups of students who are homeschooled through a charter school (i.e. ethnic groups, grade level, gender, parent education level, parent economic status)? What are parent\u27s, teacher\u27s and an administrator\u27s perceptions of student achievement in the charter homeschool? Data analysis and findings revealed students in the charter homeschool score the same as or better in English language arts when compared to students in California. Math scores for students in the charter homeschool tend to decline as students move up in grade level and enroll in advanced math courses when compared to students in California. The parent survey and focus interview responses confer charter homeschool students perform above standards. In addition, the survey and interview responses attest the California standardized test scores should not be used as a single method of validating student achievement in the charter homeschool. This study contributed to the limited literature available about charter schools as a homeschool model. In addition, the investigation of student achievement in this alternative schooling method was studied to enlighten policymakers and educators about the growing standardization and increased accountability held for such schools

Norman Leeds, MD, Oral History Interview, June 20, 2017

Major Topics Covered: Personal background and education; two-career marriage Professional trajectory prior to MD Anderson Participation in and perspectives on the formative years of neuroradiology Research contributions to neuro-radiology Change at MD Anderson Views on assuming leadership roles Mentoringhttps://openworks.mdanderson.org/mchv_interviewsessions/1155/thumbnail.jp

Norman Leeds, MD, Oral History Interview, May 30, 2017

Major Topics Covered: Personal background and education; two-career marriage Professional trajectory prior to MD Anderson Participation in and perspectives on the formative years of neuroradiology Research contributions to neuro-radiology Change at MD Anderson Views on assuming leadership roles Mentoringhttps://openworks.mdanderson.org/mchv_interviewsessions/1154/thumbnail.jp

Tests to experimentally determine the natural frequencies of the saturn s-ic test stand, phase i

Natural frequencies of Saturn test stand during horizontal vibrations at several force level

NASA technology utilization survey on composite materials

NASA and NASA-funded contractor contributions to the field of composite materials are surveyed. Existing and potential non-aerospace applications of the newer composite materials are emphasized. Economic factors for selection of a composite for a particular application are weight savings, performance (high strength, high elastic modulus, low coefficient of expansion, heat resistance, corrosion resistance,), longer service life, and reduced maintenance. Applications for composites in agriculture, chemical and petrochemical industries, construction, consumer goods, machinery, power generation and distribution, transportation, biomedicine, and safety are presented. With the continuing trend toward further cost reductions, composites warrant consideration in a wide range of non-aerospace applications. Composite materials discussed include filamentary reinforced materials, laminates, multiphase alloys, solid multiphase lubricants, and multiphase ceramics. New processes developed to aid in fabrication of composites are given

Low-energy total diet replacement intervention in patients with type 2 diabetes mellitus and obesity treated with insulin: a randomized trial

OBJECTIVES: The management of patients with long-standing type 2 diabetes and obesity receiving insulin therapy (IT) is a substantial clinical challenge. Our objective was to examine the effect of a low-energy total diet replacement (TDR) intervention versus standardized dietetic care in patients with long-standing type 2 diabetes and obesity receiving IT. RESEARCH DESIGN AND METHODS: In a prospective randomized controlled trial, 90 participants with type 2 diabetes and obesity receiving IT were assigned to either a low-energy TDR (intervention) or standardized dietetic care (control) in an outpatient setting. The primary outcome was weight loss at 12 months with secondary outcomes including glycemic control, insulin burden and quality of life (QoL). RESULTS: Mean weight loss at 12 months was 9.8 kg (SD 4.9) in the intervention and 5.6 kg (SD 6.1) in the control group (adjusted mean difference -4.3 kg, 95% CI -6.3 to 2.3, p<0.001). IT was discontinued in 39.4% of the intervention group compared with 5.6% of the control group among completers. Insulin requirements fell by 47.3 units (SD 36.4) in the intervention compared with 33.3 units (SD 52.9) in the control (-18.6 units, 95% CI -29.2 to -7.9, p=0.001). Glycated Hemoglobin (HbA1c) fell significantly in the intervention group (4.7 mmol/mol; p=0.02). QoL improved in the intervention group of 11.1 points (SD 21.8) compared with 0.71 points (SD 19.4) in the control (8.6 points, 95% CI 2.0 to 15.2, p=0.01). CONCLUSIONS: Patients with advanced type 2 diabetes and obesity receiving IT achieved greater weight loss using a TDR intervention while also reducing or stopping IT and improving glycemic control and QoL. The TDR approach is a safe treatment option in this challenging patient group but requires maintenance support for long-term success. TRIAL REGISTRATION NUMBER: ISRCTN21335883