Gilbert R. Yochum

Tourist Spending and Race of Visitors

This article investigates racial differences in the spending patterns of tourists. The article develops a deterministic model to explain expenditures by tourists who stay overnight at a destination. The model is then applied to survey data of tourist expenditures collected from overnight visitors to Virginia Beach during the summer of 1997. The study finds that ceteris paribus overnight visitors spend about the same regardless of their race, while the most important determinant of tourist spending is visitor income. The findings hold whether total party expenditures, party expenditures per day, or expenditures per person per day are examined.

The market for special interest campaign funds: An exploratory approach

ConclusionThe results of our study support the rational behavior theory of political participation. An economic market exists for special interest campaign contributions. Campaign funds will be exchanged if money is important to election outcomes and there is a rate of return for political contributions at least equal to that from alternative forms of investment. Demand factors are important in the campaign funds market. Political candidates are found to substitute private funds for special interest campaign contributions.In general, this study appears to have provided sufficiently useful results based on theoretical expectations, to merit additional research. We consider our analysis to be exploratory. Future research should concentrate on the apparent simultaneity among the ‘productivity’ of campaign funds, the determinants of campaign funds and legislative decision-making. Econometric estimation, however, should not proceed withoui a more formal development of a theory of the collective decision making process.A final note on the implications of our study for campaign finance reform. The Campaign Finance Reform Act of 1975 sought to limit special interest contributions. The imposition of limits on campaign contributions can be considered analogous to artificial controls in other economic markets, Given the imposition of limits, it seems likely that a ‘black market’ in special interest funds will develop. This black market may take many forms: the proliferation of Political Action Committees, the ‘laundering’ of campaign funds, and extra-political payments. Because of the fluid nature of the special interest market, enforcement costs of contribution limits will be extensive. From an enforcement standpoint, additionally, the existence of a special interest black market represents a ‘crime without a victim’. Contribution limits will not reduce the influence of special interest contributors.

The Economics of Travel Advertising Revisited

Performance of black-and-white newspaper and magazine ads for tourism in Virginia Beach is compared with performance of a similar compaign for North Carolina. Economic performance of a radio ad campaign is also assessed.

Permanent Labor Certifications for Alien Professionals, 1975–1982

This article deals with the effect of the Eilberg Act and the Health Professions Educational Assistance Act on labor certification of alien professionals. They are found to have enhanced the importance, to alien professionals seeking labor certification, of residing inside the U.S. at the time of application. Further, the legislation has had a dramatic effect on labor certifications for medical professionals.

The Eilberg Act, new seed immigration, and professional labor markets

Abstract Foreign born professionals, especially those educated or trained in the U.S., have been a significant source of professional manpower to U.S. labor markets. The Eilberg Act has affected the conditions for immigration of aliens in professions. Over time, even in expanding labor markets, the Act could diminish opportunities for such individuals. In addition, in declining labor markets, the Act is expected to provide a cushion for domestic workers by reducing job opportunities for aliens.

An analysis of Smith Travel Research occupancy estimates: a case study of Virginia Beach Hotels

Abstract Smith Travel Researchs estimates of lodging occupancy in Virginia Beach have improved over time, most likely because its sampling accuracy has increased.

Tourism and advertising: Evidence from Virginia beach

In recent years, the City of Virginia Beach, Virginia, has been spending more than two million dollars per year to promote tourism for the city. However, very little is known about the effects of such advertising on overnight visitors. On the basis of a survey of 1,200 overnight visitors during the summer of 1991, this study estimates the effect on tourism and the subsequent fiscal effect of tourism advertising expenditures. The study also calculates a rate of return from advertising from the perspective of a governmental revenue maximization objective function. This paper develops a travel cost model of the impact of advertising on overnight visitation to the city. The model provides, ceteris paribus, that advertising expenditures of 2.4 million dollars in 1991 resulted in an estimated 600,000 additional visitors. The paper concludes that if the Citys objective is to maximize public profit, then it should expand its advertising budget.