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

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

Comprehensive behavioral testing in the R6/2 mouse model of Huntington's disease shows no benefit from CoQ10 or minocycline

Previous studies of the effects of coenzyme Q10 and minocycline on mouse models of Huntington’s disease have produced conflicting results regarding their efficacy in behavioral tests. Using our recently published best practices for husbandry and testing for mouse models of Huntington’s disease, we report that neither coenzyme Q10 nor minocycline had significant beneficial effects on measures of motor function, general health (open field, rotarod, grip strength, rearing-climbing, body weight and survival) in the R6/2 mouse model. The higher doses of minocycline, on the contrary, reduced survival. We were thus unable to confirm the previously reported benefits for these two drugs, and we discuss potential reasons for these discrepancies, such as the effects of husbandry and nutrition

City of clones: Facsimiles and governance in Sao Paulo, Brazil

São Paulo is a megacity defined by formal and informal patterns of urbanization. Informally urbanized spaces are not absent of state intent, despite appearances. Grassroots-led social and spatial practices for survival, agency and self-governance contribute to the reproduction of urban political order in surprisingly unoriginal and routinely recognizable ways. This article argues that these unexceptional informal practices can be understood as ‘facsimiles’ of their formal institutional originals. Using the example of cloned cars the article shows that the facsimile and the original are the same in form and function. Facsimiles do not exist outside of political authority, but are a byproduct and a component of it. They are indistinguishable in their bureaucratic deployment, recognition and acceptance as part of social and spatial order. This is the author accepted manuscript. The final version is available from Sage via https://doi.org/10.1177/001139211665729

Seasonal Consumptive Demand and Prey Use by Stocked Saugeyes in Ohio Reservoirs

Community structure and species composition may be strongly influenced by predator-prey interactions resulting from and leading to episodes of population abundance or scarcity. We quantified diets of stocked saugeyes (female walleye Sander vitreus × male sauger S. canadensis) and estimated biomass of their primary prey, gizzard shad Dorosoma cepedianum, in three Ohio reservoirs at quarterly intervals during July 2002-July 2003 to determine whether saugeye consumptive demand could exceed the supply of available gizzard shad prey, resulting in a shift to alternative prey. We incorporated water temperature and saugeye diet composition, growth, and mortality into walleye bioenergetics models, which allowed us to compare estimated prey-specific consumption rates by saugeyes with gizzard shad standing stocks estimated with acoustics. Spring and summer were critical seasons. During spring, gizzard shad biomass was low, saugeye consumptive demand was low, and saugeyes consumed primarily alternative prey. During summer, when age-0 gizzard shad became available as prey, saugeyes consumed similar proportions of gizzard shad and alternative prey. Saugeye cumulative consumptive demand in summer was high and approached the gizzard shad standing stock. However, during fall and winter, gizzard shad supply was adequate to support high (fall) or declining (winter) saugeye consumptive demand. Across reservoirs and seasons, saugeyes consumed alternative prey to varying degrees, primarily sunfishes Lepomis spp., yellow perch Perca flavescens, logperch Percina caprodes, and minnows Pimephales spp. Seasonal asynchrony between saugeye consumptive demand and gizzard shad biomass during spring and summer indicated that a saugeye population with high survival, growth, and consumptive demand will opportunistically increase use of prey other than gizzard shad. The manner in which saugeye predation quantitatively influences these prey species could not be assessed. However, overexploitation of gizzard shad prey appears to be unlikely at current saugeye population sizes, particularly considering the opportunistic use of alternative prey and the high reproductive potential of gizzard shad.Funding for this research was provided by the Ohio Department of Natural Resources, Division of Wildlife; Federal Aid in Sport Fish Restoration Project F-69-P, Fish Management in Ohio; and the Department of Evolution, Ecology, and Organismal Biology at The Ohio State University

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