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October 2001
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Nobel committee cites two CCBA faculty
Daniel Bernhardt, IBE Distinguished Professor of Economics at CCBA since 1997, was pleased to learn earlier this month that his work had been cited by the Nobel committee considering the 2001 award for economics. Bernhardt received recognition for "Strategic Promotion and Compensation," published in 1995 in Review of Economic Studies.
Also cited was In-Koo Cho, who joined the faculty in 1999 as William Kinkead Distinguished Professor of Economics. Cho's work, "Signaling Games and Stable Equilibria," was deemed by the committee "an influential paper in this genre." Written with his colleague David Kreps of Stanford, the paper appeared in The Quarterly Journal of Economics in 1987.

Gambling not a community benefit
When subjected to a rigorous cost-benefit analysis, casino gambling is not a economic development winner for the host community according to Earl Grinols, professor of economics. Analysis of data compiled from around the country suggests that opening a casino eventually costs a community at least 1.9 times more than its benefits, which amounts to a yearly national loss of at least $27.5 billion. Grinols published his research in Managerial and Decision Economics with co-author David B. Mustard.

CCBA co-hosting internship forum on November 5 in Urbana
Champaign county business and non-profit representatives are invited to attend a November 5th forum on internships. The 2-hour orientation (from 4:30 to 6:30 pm) about finding and using Illinois student interns will be held at the Carle Forum, 602 West University Avenue, in Urbana. For more information or to register, send email to Commerce Alumni and External Affairs at or call 244-6669.

Relieving airport congestion … at a price
Imposing "congestion pricing" on flights during peak hours may work - so long as they are implemented with care and flexibility, according to CCBA economist Jan K. Brueckner, an expert on airline economics who has analyzed the possible effects of congestion pricing at U.S. airports.

Financial Times ranking includes EMBA program
The CCBA Executive MBA Program (EMBA) was ranked #20 in the world and #11 among US programs in the Financial Times survey of Executive MBA programs. The 2001 rankings were based on surveys of recent graduates of more than 70 business schools around the world and questionnaires completed by participating universities. The rankings were calculated according to a school's performance in three broad areas: career progression of the graduate; diversity and international experience; and faculty research.

Undergraduate Affairs makes scholarship applications available
Current CCBA undergraduates who are enrolled in degree programs are eligible to apply for undergraduate scholarships via the STARS (Student Tracking and Records System) web-based interface. The deadline is November 12, 2001. [NOTE: You must have a netid to access the scholarship forms.]

Take part in the Big Ten GOLD Challenge!
Eight of the Big Ten's eleven institutions are participating in this collaborative effort to enhance undergraduate alumni giving rates. You can help prove that Illinois is among the best and at the same time help meet the university's needs through alumni giving. Check out the website to make a contribution and to see where Illinois currently stands in the rankings. (And your contribution will be matched by five CCBA alumni because of the Annual Fund '02 Challenge. Make your contribution go even farther!)
(see page 2 for information about the Annual Fund '02 Challenge)

The November Round Table will feature a panel discussion on "The Future of Exchange-based Trading: Effect of e-Trading on the Exchanges." The event, co-hosted by CCBA and the College of Agriculture, Consumer and Environmental Science, will be held at the Illini Center on Wacker Drive from 11:30 a.m. until 1:30 p.m. Space is limited. For more information, email Christine Lockmon ( or call 217-333-6434.

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