Professional Sports Teams and their Local Economic Impact

There has been debate about whether or not professional sports teams impact their local economies. Research shows local economic growth has been generated from the presence of a professional sports team in multiple ways: the creation of new jobs, increased consumer spending, increased sales in certain market segments, and increased tax revenue. Other beneficial impacts caused by sport franchises are increased tourism from hosting large nationwide events such as a Super Bowl or World Series, and game\u27s media coverage provides free marketing/advertising for home cities. Teams also impact the lives of their fans and cities in non-measurable, qualitative ways, such as the quality of life, city morale, and a major league city image. However, hosting a professional sports team is costly; expensive public funding needs to be supported by even greater returns. Therefore, despite the changes in the local economy, there are those who question if the franchise is worth the investment [of public funds]. Some research illustrates the investment of stadiums for teams are not worth the smaller return generated because a greater impact on the economy can be accomplished elsewhere

Tyche\u27s Twin

Subject Domain: History – Ancient Rome – Severan Dynasty Motivation: While doing undergraduate research this summer, I noticed a trend on the coinage of Laodicaea ad Mare during the reign of Emperor Septimius Severus. This trend was the city’s tendency to depict the empress, Julia Domna, in the same way it depicted its patron goddess, Tyche after the Antioch Mint had been transferred to Laodicaea ad Mare as a punishment by the emperor. In order to understand why these depictions occurred so suddenly in our coinage records and what the motivations behind them might have been, I began my research. Thesis: In order to both proclaim its superior status over Antioch and form a stronger relationship with Severus, Laodicaea ad Mare began to synthesize its patron goddess, Tyche, with Severus’ wife and hometown girl Julia Domna. Methodology: My methodology included examination of various documents like modern historiographical writings and classical authors and philosophers. I also employed the Severan Provinicial Coinage database to examine coinage of Laodicaea ad Mare, Antioch, and other nearby Syrian cities to discover whether other nearby cities also synthesized the empress to Tyche. Finally, I had to use the information I had gathered to form a viable thesis and argue its likelihood. Conclusions: Antioch and Laodicaea ad Mare were both able to claim Tyche and Julia Domna as their own, but only Laodicaea ad Mare did so. By synthesizing their shared, Syrian empress with Tyche, their shared goddess of fortune, Laodicaea ad Mare attempted to claim each as its own and therefore boldly proclaim its superiority over Antioch for at least seven years. However, in the long run, Antioch was too important to stay ignored and any competition that may have been perceived between it and Laodicaea ad Mare was minimal and predominantly one sided. By refusing to outwardly acknowledge its rivalry with Laodicaea ad Mare, Antioch belittled Laodicaea ad Mare and reasserted its dominance simply by adhering to its usual iconography. Thus the more prestigious Antioch retained its superior status over Laodicaea ad Mare long after the strange blip on their shared-history’s radar, while Laodicaea ad Mare forever clung to its brief hegemony as the number one city in Syria

Tyche\u27s Twin

Subject Domain: History – Ancient Rome – Severan Dynasty Motivation: While doing undergraduate research this summer, I noticed a trend on the coinage of Laodicaea ad Mare during the reign of Emperor Septimius Severus. This trend was the city’s tendency to depict the empress, Julia Domna, in the same way it depicted its patron goddess, Tyche after the Antioch Mint had been transferred to Laodicaea ad Mare as a punishment by the emperor. In order to understand why these depictions occurred so suddenly in our coinage records and what the motivations behind them might have been, I began my research. Thesis: In order to both proclaim its superior status over Antioch and form a stronger relationship with Severus, Laodicaea ad Mare began to synthesize its patron goddess, Tyche, with Severus’ wife and hometown girl Julia Domna. Methodology: My methodology included examination of various documents like modern historiographical writings and classical authors and philosophers. I also employed the Severan Provinicial Coinage database to examine coinage of Laodicaea ad Mare, Antioch, and other nearby Syrian cities to discover whether other nearby cities also synthesized the empress to Tyche. Finally, I had to use the information I had gathered to form a viable thesis and argue its likelihood. Conclusions: Antioch and Laodicaea ad Mare were both able to claim Tyche and Julia Domna as their own, but only Laodicaea ad Mare did so. By synthesizing their shared, Syrian empress with Tyche, their shared goddess of fortune, Laodicaea ad Mare attempted to claim each as its own and therefore boldly proclaim its superiority over Antioch for at least seven years. However, in the long run, Antioch was too important to stay ignored and any competition that may have been perceived between it and Laodicaea ad Mare was minimal and predominantly one sided. By refusing to outwardly acknowledge its rivalry with Laodicaea ad Mare, Antioch belittled Laodicaea ad Mare and reasserted its dominance simply by adhering to its usual iconography. Thus the more prestigious Antioch retained its superior status over Laodicaea ad Mare long after the strange blip on their shared-history’s radar, while Laodicaea ad Mare forever clung to its brief hegemony as the number one city in Syria

Pasivaikščiojimai po Vilną: miestas ir jo žydai vadovuose po miestą ir kelionių aprašymuose, 1856-1939

Nuo XIX a. vidurio iki XX a. tarpukario pabaigos buvo išleista įvairių leidinių apie Vilnių, skirtų tiek turistams, tiek iš namų kojos nekeliantiems kelionių mėgėjams. Šiame straipsnyje aptariamus kelionių vadovus lenkų, prancūzų ir vokiečių kalbomis parašė ir vilniečiai, ir miesto svečiai, norėję pasidalyti įspūdžiais apie miestą, jo įžymybes ir gyventojus. 1939 m. išėjęs visa apimantis Zalmeno Šyko vadovas "Toyznt yor Vilne" („Tūkstantis Vilniaus metų“) išaukštino žydų tautinei mažumai reikšmingas miesto vietas, drauge parodydamas ir jo įvairovę, kuri liberalių pažiūrų žmonėms reiškė geriausią Vilnos paveldo dalį. Straipsnyje aptariami ir kiti panašaus pobūdžio kelionių vadovai: nuo paties ankstyviausio, 1856 m. išleisto Adamo H. Kirkoro, iki chronologiškai Šyko leidiniui artimiausio Tadeuszo Łopalewskio 1938 m. kelionių gido ir daugelio autorių sudaryto leidinio "Wilno i Ziemia Wileńska" (1930–1937). Pažymėtina, kad kai kurie autoriai, pavyzdžiui, Henrykas Mościckis savo vadove (1922) ir atlaso Wilno i Ziemia Wileńska (1931) tome, Vilniuje gyvenusių žydų apskritai neminėjo. Kiti, kaip antai Władysławas Zahorskis (1910) ir Rosa Bailly (1923), apie žydus tik užsiminė. Žinoma, toks požiūris galėjo būti nulemtas politinių aplinkybių, kai faktas, kad Vilniuje gyvuoja žydų bendruomenė, tiesiog ignoruotas. Buvo ir kur kas atviriau savo pažiūras reiškiančių autorių. Paskutiniais Rusijos carinės imperijos valdymo metais rašytame ir 1910 m. išleistame Wacławo Gizberto miesto vadove aiškiai matyti autoriaus priešiškumas Vilnių valdžiusiems rusams. O štai po Pirmojo pasaulinio karo išėjusiame vadove (1923) ryškus jo autoriaus Juliuszo Kłoso noras pavaizduoti Vilnių kaip neatsiejamą Antrosios Lenkijos Respublikos dalį. Šių rašytojų požiūris į Vilniaus žydų bendruomenę atspindėjo jų ištikimybę savajai lenkų tautai. 1929 m. Vilnių aplankiusi prancūzų pacifistė ir feministė Camille Drevet, regis, taip pat pajuto palengvėjimą, kad žydų bendruomenė čia nesiekia politinio vyravimo. Žydiškojo Vilniaus lankytinas vietas aprašantys autoriai daugiausia dėmesio skyrė vadinamajam getui – tradiciniam žydų gyvenimo centrui. Jie žavėjosi jo mielais užkaboriais ir gyva prekyba, bet bjaurėjosi skurdu ir nešvara. Beveik visi autoriai žydų kvartalą vaizdavo kaip išskirtinę miesto kraštovaizdžio dalį, tačiau, pradedant XX a. trečiuoju dešimtmečiu, Kirkorui būdingą šios miesto dalies palankų aprašymą keitė vis labiau reiškiamas pasibjaurėjimas. Žydų kvartalas vaizduotas kaip egzotiška vieta, visiškai nederanti su Vilniaus, kaip šiuolaikinio Europos miesto, tapatybe, panašiai, kaip ir žydai laikyti svetimais lenkų didžiumos gyvenamame mieste. Daugelis rašiusiųjų apie Vilniaus žydų kvartalą rėmėsi orientalizmo prieiga, tačiau rinkosi skirtingus tokio sugretinimo aspektus. 1934 m. rašiusiems Kłosui ir Jerzy Remeriui tai reiškė žydų, kaip iš Rytų kilusios tautos, svetimumą, o Drevet ir Łopalewskiui getas atrodė kaip žavi įdomybė. Šio legendinio kvartalo ribas peržengti drįsę autoriai – keliautojai po Vakarų Europą Camille Drevet ir Alfredas Döblinas (1924), taip pat "Wilno i Ziemia Wileńska" bendradarbiai, ten atrado naują, daugiausia žydų pasaulietinių kultūrinių ir politinių judėjimų pasaulį. Tokie skirtingi vadovuose po miestą ir kelionių aprašymuose pateikiami pasakojimai nušvietė tuo metu gyvavusias įvairias visuomenės vizijas ir žydų vietą toje visuomenėje.From the mid-19th century through the end of the interwar period, a variety of texts about Vilna were published to guide and inform both tourists and armchair travellers. The Polish, French and Germanlanguage guidebooks and travelogues considered in this article were composed both by native sons and visitors who wished to share their impressions of the city, its notable sights, and its residents. While some overlooked the presence of Jews, most devoted some space to Vilna’s Jewish landmarks. Overwhelmingly, they focused their attention on the Jewish quarter, the traditional heart of Jewish life, although a minority ventured to newer neighbourhoods, where they discovered a vibrant modern community. Their attitudes included a mix of sympathy, fascination and revulsion; many employed the language of orientalism, even as they invested that language with a variety of meanings. These authors’ narratives were shaped by their views of the various groups that comprised Vilna’s diverse population, as well as by commitments ranging from Polish nationalism to pacifism. Such accounts thus illuminate competing visions of the larger society and the place of Jews within it

A Portfolio Choice Model with Utility from Anticipation of Future Consumption and Stock Markets' Mean Reversion

This Paper studies a consumption and portfolio choice problem of a long-lived investor who derives pleasure not only from current consumption, but also from contemplation of future consumption. These preferences are formalized by Kuznitz (2003a, 2003b, 2003c), in a model where all effects of future consumption on current well being are assumed to enter through a single variable – that is, the ‘stock of future consumption’ – analogously to habit-formation models. The main implications of the model concern the incentives for savings, and the fundamental sources of risk in financial markets. In this Paper it is shown that, when the stock market exhibits mean reversion, deriving utility from anticipation of future consumption has a tremendous effect on portfolio choice. In particular, mean allocation to stocks is much lower under the proposed preferences relative to the standard preferences, especially for high-risk averse investors.consumption; habit-formation; mean reversion; portfolio

A portfolio choice model with utility from anticipation of future consumption and stock market mean reversion

This paper studies a consumption and portfolio choice problem of a long-lived investor who derives pleasure not only from current consumption, but also from the contemplation of future consumption. The model assumes that all effects of future consumption on current well being are assumed to enter through a single variable--namely, the "stock of future consumption"--analogously to habit-formation models. The main implications of the model concern the incentives for savings, and the fundamental sources of risk in financial markets. It is shown that, when the stock market exhibits mean reversion, deriving utility from anticipation of future consumption has a tremendous effect on portfolio choice. In particular, mean allocation to stocks is much lower under the proposed preferences relative to the standard preferences, especially for high risk averse investors.Portfolio choice problem Mean reversion Financial markets