This article uses data from NASCAR to examine strategic decision making with professional players and high stakes. The authors look at driver decisions to pit, enabling car performance to be improved at the cost of track position. Unlike other sports choices that have been used to test game-theoretic play, pitting decisions occur sequentially. Therefore, optimal decision making should result in the sub-game perfect equilibrium outcome. After estimating the likelihood of successfully passing another driver, the authors find some evidence that drivers make optimal decisions; however, driver behavior is also consistent with a simple heuristic of following the preceding car.

This article uses data from NASCAR to examine strategic decision making with professional players and high stakes. The authors look at driver decisions to pit, enabling car performance to be improved at the cost of track position. Unlike other sports choices that have been used to test game-theoretic play, pitting decisions occur sequentially. Therefore, optimal decision making should result in the sub-game perfect equilibrium outcome. After estimating the likelihood of successfully passing another driver, the authors find some evidence that drivers make optimal decisions; however, driver behavior is also consistent with a simple heuristic of following the preceding car.

OPENING REMARKS BY WILLIAM J. KEHOE, UNIVERSITY OF VIRGINIAAn academic conference is a special event. We gather here as we have done for twenty years now as faculty colleagues from throughout the world for scholarly paper presentations, joyful collegiality, and many good conversations that will abound throughout our time here. novelist David Lodge in his book Small World wrote as follows about an academic conference: The modem conference ... allows the participants to indulge themselves in all the pleasures and diversions of travel while appearing to be austerely bent on self-improvement. To be sure, there are certain penitential exercises to be performed - the presentation of a paper, perhaps, and certainly listening to papers of others. You journey to new and interesting places, meet new and interesting people, and form new and interesting relations with them; exchange gossip and confidences; eat, drink and make merry in their company every evening; and yet, at the end of it all, return home with an enhanced reputation for seriousness of mind. (Source: David Lodge, Small World. New York: Warner Books, Inc., 1984.) This evening we celebrate with each other at this special academic conference. But, more than celebrating with each other, we celebrate the most unique entity that is the ASBBS. In a series of brief remarks this evening, presented by colleagues who have attended ASBBS conferences over many years, we will enliven the specialness of the ASBBS and offer tributes to Professor Wali Mondai who, for all these twenty years, has greeted each of us warmly, encouraged collegiality, and offered a place for all of us to make a contribution to our disciplines, to grow intellectually, and to learn from each other. We each are better because of Wali Mondai and the ASBBS. Presented now, in alphabetical order of last names of colleagues, are several tributes to Professor Wali Mondai in celebration of the twentieth anniversary of ASBBS.REMARKS BY MARK AQUILIO, ST. JOHN'S UNIVERSITYIt's hard to believe that it was twenty years ago that I first met Wali Mondai. As I think back over my life, there are only a handful of people that I can reflect upon the day I met them and then realize the impact that they have had on my life. While registering at the ASBBS first Annual Meeting, I met Wali. My first impressions that he was a true gentleman and a scholar have proven to be affirmed over the years.As I sat at the banquet at the 20th Annual Meeting and heard the tributes and accolades spoken forth by the speakers, I nodded in agreement with each one. I saw a reflection of Wali throughout the room: a man who set the tone for the ASBBS from day one, as its founder and driving force. A man who quietly leads by example. One who is a work horse. One upon whom you would think the spotlight would shine, but who always seeks to direct the spotlight on those working alongside him. From the beginning, Wali structured the ASBBS to provide opportunity for all who are qualified and desirous of working toward accomplishing the two main goals of the ASBBS as I see them: scholarship and collegiality. As I look back over the years and see the development of the ASBBS and the proliferation of the various tracks and the creation of the various journals, I've come to think of the acronym not only as the American Society of Business and Behavioral Sciences, but also as Always Striving for Better and the Best Scholarship.Wali has structured the ASBBS in a way that it serves to develop the careers of those who participate and further their professional growth. Wali has been an instrumental part in the development of assistant, associate, and full professors and academic administrators. ASBBS and its publications are more than just lines on our curriculum vitaes, as Wali and the various participants in ASBBS over the years have become a part of each of us. I say Wali and the others as I've come to realize that the ASBBS is distinct from the multitude of other venues where I have presented papers in that there is a definite personal element to the ASBBS. …

There are wide variety of capstone courses offered in economics departments throughout colleges and universities. The range of course offerings is influenced by the type of university, the quantity and quality of university's faculty, student ability and resource constraints. Although pedagogical research suggests that an applied capstone course best prepares economics majors for careers and graduate work, less than half of the economics programs offer research based capstone experience. This paper is designed to show how one university provides both depth and breadth in its economics curriculum by including significant research based requirements in the capstone course.IntroductionAccording to Siegfried et al. (1991a) the ideal economics program should include strong quantitative component and an intellectually challenging capstone experience. In particular, they believe that programs should devote attention to research design and to the context within which quantitative methods are applied (22). The authors also argue for an increase in depth and breadth generally throughout the major. In most programs, the intermediate theory courses provide depth while the number of, and variation in, electives provide breadth. If properly executed, an applied capstone course can enhance breadth while promoting depth. Moreover, capstone course can help students assimilate information learned in the program while applying this knowledge to the real-world data, events and crises.In survey of program assessment methods, Myers et al (2011) found that the top three outcomes that departments desired for their students were the development of critical thinking skills, the ability to apply existing knowledge, and improved written communication skills. The abilities to find, interpret, and use economic data were included in the top eight learning outcomes (Myers et al, 2011, 197). This was consistent with previous work, as six of the seven Hansen (2001) proficiencies were also represented in the top eight learning outcomes in this survey.In another article, Siegfried at al. (1991b) emphasize that effective learning requires students to be actively engaged in doing economics. They assert the importance of creating a capstone experience that synthesizes the applications, encourages students to integrate economics with the rest of their college learning experience, and affords opportunities for creative writing (218). To this end, Siegfried et al. (1991a) stress the importance of exploring, organizing and appraising data. Echoing Hansen, Salemi, and Siegfried (2002), they argue that the broader goal of achieving economic literacy depends upon students learning by doing. They see this as an essential part of learning in order to think like an economist. Naturally, learning by doing enhances students' depth of knowledge. However, they also cite creativity as an essential aspect of effective problem solving and policy analysis.A properly constructed capstone course can increase depth by having students undertake projects with practical applications. Allard and Straussman (2003) believe that capstone courses should be designed in way that exposes students to professional work. In these projects, time (limited to one semester) is binding constraint. Once topic is selected, it is important to generate research plan quickly. Often, one must gather relevant data while still reviewing the literature and learning new tools. The plan must then be executed scientifically with the relative robustness of the results made crystal clear (Ackerman, Fenton and Raymond, 2013). Students may also face unexpected problems that they must both identify and correct, such as those resulting from insufficient or tainted data. As such, the environment in which this work is done mimics the conditions often faced by professionals doing similar work. Of course, as novices, students will be much more dependent upon the instructor for guidance (Allard and Straussman). …

INTRODUCTION It is widely accepted that exposure to foreign cultures and business practices is a key ingredient to success of educational business programs. Now that industry and commerce truly span globe and are no longer limited by national boundaries, an understanding of how customs of various countries affect business practice is essential. A belief that business practices that work in United States will work in other cultural environments likely will ultimately lead to business failure in those countries. These practices relate to how employees within a company interact with each other and to how customers in those countries relate to businesses. The best way for a student to gain an appreciation of these differences is to experience it for one's self; traveling and studying in a culture that differs significantly from their own. The current study explores an international travel experience in an American MBA program. The curriculum of this program requires an international component. Most students satisfy international component by traveling (as a class) to a foreign country and experiencing culture first hand. Some students cannot travel for 10-day experience due to family or work commitments. For these students they elect to satisfy requirement by an on-campus international seminar course. This latter option however, fails to move students out of their 'comfort zones' and is not considered to be as realistic as foreign travel experience, despite similar objectives for two courses. For those who selected option of studying in Spain, surveys were administered immediately prior to and immediately after travel. Surveys were divided into three major sections; why students chose Spain-travel option, their perceptions of business practices in Spain, and views on larger-scale European educational experience. They were further asked if they would recommend foreign travel over on-campus option to others in order to satisfy international travel experience requirement. An additional set of surveys were administered to students in on-campus international seminar course. While phrasing of select questions was not identical to ones for other cohort of students, there were sufficient areas of overlap to allow for comparisons in areas of perceptions of business arena relative to U.S. LITERATURE REVIEW Providing opportunities to understand international business practices is a fundamental responsibility of an MBA program. White & Griffith (1998, p. 104) suggest that critical thinking and analytic skills should be developed beyond one's inherent biases. In addition, internationalization of MBA curriculum requires MBA programs to develop graduates' skills to manage business competently in global environment (Tuleja, 2008). The normal study abroad experience, however, often emphasizes what how capital is acquired in Germany as opposed to United States, for example. Varner (2001) says of international experiences: Culture expresses itself in politics, government policies, business regulations, educational systems, and business practices one cannot separate culture from these issues and study culture in isolation (p. 104). Ortiz (2004) noted that going to another country on an academic study program is best way to begin process of understanding what it means to function in a global economy. Other authors (Davis & Redmann, 1991) note that even short-term study abroad can help student to a better understanding of another culture, as well as one's own culture in contrast. The Association to Advance Collegiate Schools of Business (AACSB, 2002) has stated that the length of program must be balanced against intended results.... Short term programs, when well- structured and value-added, are quite useful ... (p. 6). While there cannot be a substitution for an extended period of work or study in a non-native culture, awareness of cultural differences is critical for MBA. …

Computer aided instruction (CAI) encompasses a broad range of computer technologies that supplement the classroom learning environment and can dramatically increase a student’s access to information. Criticism of CAI generally focuses on two issues: it lacks an adequate foundation in educational theory and the software is difficult to implement and use. This paper describes the educational use of CAI in two different courses at a small, private university and the implementation and use experiences of the instructors. One instructor used Homework Manager in Principles of Financial Accounting and the other instructor used Aplia in Principles of Microeconomics. It is shown that the use of CAI is pedagogically effective and that currently available applications are easy to integrate into the student’s in-class experience. The paper also reports on the impact that using CAI has on student evaluations of both the course and the instructor and on student grades. For student evaluations, mean responses were compared on ten questions believed to be influenced by the switch from traditional homework assignments to CAI-based homework assignments. While differences were generally in the expected direction, it could not be shown that CAI had a direct impact on student evaluations of either the course or the instructor. For student grades, final exam grades were compared before and after the adoption of CAI. It is shown that the use of CAI significantly increased student final exam grades.

The teaching of presentation skills is no longer the exclusive purview of communications courses. Their central role in a variety of business courses, ranging from marketing, entrepreneurship, and management to accounting, finance, and strategy mirrors their use by professionals in all fields. This paper presents and discusses a number of unusual and unique techniques useful for enhancing students' presentation skills.