Search results for "Lottery"
showing 7 items of 7 documents
Public and Private: Negotiating Memories of the Korean War
2016
In February 2014, pictures of elderly Koreans, North and South, reunited after more than 60 years of separation, saturated the international media. The images captured the emotional moments when long-divided family members met again at an official reunification gathering. Some tightly embraced their missed relatives and burst into tears; a 92-year-old South Korean man danced with his arms stretched out, beaming with joy. The majority of the 83 citizens of the Republic of Korea (ROK) who collectively traveled to the meeting place at the Geumgang Mountain resort in North Korea were in their seventies or eighties. Several of the aging attendants faced health troubles coping with the strenuous …
Speculation and Lottery-Like Demand in Cryptocurrency Markets
2020
This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns are rather short-memory processes in their nature, we modify Bali et al.’s (2011, 2017) MAX measure and employ a weekly forecast horizon and last week’s daily log-returns for calculating the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk adjusted return differences between cryptocurrencies in the lowest and highest MAX deciles exceed 1.50% per week. These re…
Scammer’s Yard: the crime of Black repair in Jamaica
2021
Scammer’s Yard follows the lives of Omar, Junior and Dwayne, three Jamaican ghetto youths, as they go about their lottery scam operation in the early 2010s. The lottery scam essentially entails the...
Speculation and lottery-like demand in cryptocurrency markets
2021
Abstract This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns appear to be short-memory processes, we modify Bali, Cakici and Whitelaw’s (2011) and Bali, Brown, Murray, and Tang’s (2017) MAX measure and employ a weekly forecast horizon and daily log-returns from the previous week to calculate the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk-adjusted return differences between cryptocurrencies in the lowest a…
When does Regression discontinuity design work? Evidence from random election outcomes
2018
We use elections data in which a large number of ties in vote counts between candidates are resolved via a lottery to study the personal incumbency advantage. We benchmark non‐experimental regression discontinuity design (RDD) estimates against the estimate produced by this experiment that takes place exactly at the cutoff. The experimental estimate suggests that there is no personal incumbency advantage. In contrast, conventional local polynomial RDD estimates suggest a moderate and statistically significant effect. Bias‐corrected RDD estimates that apply robust inference are, however, in line with the experimental estimate. Therefore, state‐of‐the‐art implementation of RDD can meet the re…
The 1970 US Draft Lottery Revisited: A Spatial Analysis
2004
Summary We revise the result of the 1970 selective service draft lottery in the USA following an open question that was suggested by Fienberg in a paper published in Science in 1971. The result of the drawings can be viewed as a particular spatial pattern which can be analysed by using general spatial tools adapted to our context. Approaches for assessing the complete spatial randomness for this spatial process on a finite support are proposed. More specifically, these approaches involve the number of events in a square window and a k(r)-based function used to analyse stationary spatial point processes.