Digital Commons Network^™

Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Jerry M. Eversky, Donald H. Dutowsky, Gerald S. Edmonds

Jerry Evensky

This paper introduces Concurrent Enrollment Programs (CEPs), within the context of Syracuse University Project Advance (PA) Economics, as a way to improve economic literacy. We describe measures implemented to operate PA Economics as a high-quality CEP, as well as the National Alliance of Concurrent Education Partnerships to establish national standards. This study also contains results from administering to high school students taking PA Economics the nationally normed Test of Economic Literacy (TEL). PA students average nearly one percentage point higher than the AP/Honors Economics Group, and score considerably better than AP/Honors Economics in fundamentals and international economics. By cognitive level, …

Improving Economic Literacy: The Role Of Concurrent Enrollment Programs, Donald H. Dutowsky, Jerry M. Evensky, Gerald S. Edmonds

Economics - All Scholarship

This paper introduces Concurrent Enrollment Programs (CEPs), within the context of Syracuse University Project Advance (PA) Economics, as a way to improve economic literacy. We describe measures implemented to operate PA Economics as a high-quality CEP, as well as the National Alliance of Concurrent Education Partnerships to establish national standards. This study also contains results from administering to high school students taking PA Economics the nationally normed Test of Economic Literacy (TEL). PA students average nearly one percentage point higher than the AP/Honors Economics Group, and score considerably better than AP/Honors Economics in fundamentals and international economics. By cognitive level, …

Mobilization Of Funds For Nepad Implementation, Victoria Kwakwa

Economic and Financial Review

This paper explores issues relating to the mobilization of funds for NEPAD implementation. The next section discusses the nature of the financing need; the third section explores domestic sources of funding, followed by a discussion of external funding sources in section four. Section five suggests some critical success for mobilization of funds for NE PAD and last sections concludes.

The Role Of Human Resource Development In The New Partnership For Africa's Development (Nepad), Chris Ltsede

Economic and Financial Review

The paper is divided into five parts. Following the introduction in Part I, Part 11 highlights salient features of NEPAD; Part111 examines the role of human resources development in realizing the objectives for NEPAD. Part IV discusses strategies for building capacity for NEPAD, while the final part presents the conclusion.

Does The Presence Of Surplus Labor Hinder Production In Indian Manufacturing?, Subhash C. Ray, Kankana Mukherjee

Economics Working Papers

Input congestion occurs at a given input bundle when the assumption of free disposability of inputs does not hold and an increase in input leads to a decline in output. In this paper we employ the nonparametric method of Data Envelopment Analysis (DEA) to examine the question on input congestion with respect to labor, using state level data from the Annual Survey of Industries for the period 1986-87 through 1999-2000. When the standard assumption of strong disposability is relaxed for the labor inputs, the nonparametric analysis of state-level data from Indian manufacturing shows considerable measure of labor input congestion. While …

A Median Voter Theorem For Postelection Politics, Dhammika Dharmapala, Etienne Lehmann

Economics Working Papers

We analyze a model of 'postelection politics', in which (unlike in the more common Downsian models of 'preelection politics') politicians cannot make binding commitments prior to elections. The game begins with an incumbent politician in office, and voters adopt reelection strategies that are contingent on the policies implemented by the incumbent. We generalize previous models of this type by introducing heterogeneity in voters' ideological preferences, and analyze how voters' reelection strategies constrain the policies chosen by a rent-maximizing incumbent. We first show that virtually any policy (and any feasible level of rent for the incumbent) can be sustained in a …

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman

Rutgers Law School (Newark) Faculty Papers

In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …

The Political Economy Of International Antitrust Harmonization, John O. Mcginnis

William & Mary Law Review

No abstract provided.

Payoff Continuity In Incomplete Information Games: A Comment, Casey G. Rothschild

Economics Faculty Scholarship

Kajii and Morris (J. Econ. Theory 1998, 267-276) provide necessary and sufficient conditions for two priors to be strategically close. The restrictiveness of these con- ditions establishes that strategic behavior can be highly sensitive to the assumed prior. Their results thus recommend care in the use of priors in economic modelling. Unfortunately, their proof of a central proposition fails for zero probability types. This comment corrects their proof to account for these cases.

The Export Insurance System And Export Supply Of Britain, Jai S. Mah

Economics Working Papers

This paper examines whether or not the export insurance subsidy provided by the British government has promoted Britain.s export supply. Unlike previous studies on the effectiveness of export subsidy in export supply, the current study examines the stationarity nature of the concerned variables. The unit root tests show that all concerned variables are integrated of order one. According to Johansen cointegration test, the concerned variables are not cointegrated. The empirical evidences using the first differenced data show that the export subsidy in terms of provision of export insurances by the government is not statistically significant in increasing export supply.

Shirking, Commuting And Labor Market Outcomes, Stephen L. Ross, Yves Zenou

Economics Working Papers

Recent theoretical work has examined the spatial distribution of unemployment using the efficiency wage model as the mechanism by which unemployment arises in the urban economy. This paper extends the standard efficiency wage model in order to allow for behavioral substitution between leisure time at home and effort at work. In equilibrium, residing at a location with a long commute affects the time available for leisure at home and therefore affects the trade-off between effort at work and risk of unemployment. This model implies an empirical relationship between expected commutes and labor market outcomes, which is tested using the metropolitan …

Some Law And Economics Of Historic Shipwrecks, Paul Hallwood

Economics Working Papers

This paper examines how US and proposed international law relate to the recovery of archaeological data from historic shipwrecks. It argues that US federal admiralty law of salvage gives far less protection to historic submerged sites than do US laws protecting archaeological sites on US federal and Indian lands. The paper offers a simple model in which the net present value of the salvage and archaeological investigation of an historic shipwreck is maximized. It is suggested that salvage law gives insufficient protection to archaeological data, but that UNESCO's Convention on the Protection of the Underwater Cultural Heritage goes too far …

The Restructuring In The Post-Crisis Korean Economy, Jai S. Mah

Economics Working Papers

The current paper evaluates the restructuring measures implemented in the post-crisis Korean economy. Its policies taken after the economic crisis were quite successful in terms of economic recovery. The financial and corporate sector reforms undertaken by the Korean government contributed to strengthening the banking and corporate sectors, attracting FDI inflows. However, most indicators show worsening of income inequalities and workers. situation regarding job security. The strengths as well as the weaknesses of the development strategy of Korea and its reform measures undertaken since the occurrence of the economic crisis need to be differentiated.

Countervailing Duties In The Usa, Jai S. Mah

Economics Working Papers

This paper reveals the characteristics of the ITC's decisions on countervailing duties, which have seldom been studied. The empirical evidences based on time series data show that there is a long run equilibrium relationship between affirmative countervailing decisions and macroeconomic variables such as economic growth rates and import penetration ratios. The error correction models show that there is a unidirectional causality from affirmative countervailing decisions to slower economic growth.

Discrimination In Metropolitan Housing Markets: Phase 3 - Native Americans, Margery Austin Turner, Stephen L. Ross

Economics Working Papers

This paper documents the results of a pilot paired testing program to examine the treatment of Native Americans by real estate agents in rental housing markets in three states and owner-occupied housing markets in one state. The study finds that the level of discrimination experienced by Native Americans in rental markets exceed those experienced by Hispanics, Blacks, and Asian-Americans.

November 2003, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

Chicago Man, K-T Man, And The Future Of Behavioral Law And Economics, Robert A. Prentice

Vanderbilt Law Review

Most law is aimed at shaping human behavior, encouraging that which is good for society and discouraging that which is bad.' Nonetheless, for most of the history of our legal system, laws were passed, cases were decided, and academics pontificated about the law based on nothing more than common sense assumptions about how people make decisions. A quarter century or more ago, the law and economics movement replaced these common sense assumptions with a well-considered and expressly stated assumption-that man is a rational maximizer of his expected utilities. Based on this premise, law and economics has dominated interdisciplinary thought in …

Methodology For Economic Impact Estimation : Prepared For Los Alamos National Laboratory By Center For Economic Development Research, College Of Business Administration, University Of South Florida, University Of South Florida. Center For Economic Development Research, Los Alamos National Laboratory

College of Business Publications

No abstract provided.

Tendencies Versus Boundaries: Levels Of Generality In Behavioral Law And Economics, Gregory Mitchell

Vanderbilt Law Review

When evidence on the truth or falsity of a proposition is ambiguous and open to multiple interpretations, psychologists warn about "biased assimilation" of the evidence to support pre-existing theories, beliefs, and attitudes. Therefore, when a skeptic about the public policy implications of psychological research examines the complex mix of evidence on human rationality, he may find much to support his skepticism about the use of psychology to reform the law. Likewise, an optimist about the public policy contributions of psychology may find within this same body of evidence much to bolster his optimistic view that psychological research can be used …

Overview, David B. Nash

College of Population Health Faculty Papers

No abstract available.

Credible Criminal Enforcement, Matthew J. Baker, Thomas J. Miceli

Economics Working Papers

Economic models of crime and punishment implicitly assume that the government can credibly commit to the fines, sentences, and apprehension rates it has chosen. We study the government's problem when credibility is an issue. We find that several of the standard predictions of the economic model of crime and punishment are robust to commitment, but that credibility may in some cases result in lower apprehension rates, and hence a higher crime rate, compared to the static version of the model.

The Strategic Importance Of U.S.-South Korea Economic Relations, Marcus Noland, Taeho Bark

Marcus Noland

Due to the still critical nature of the United States-Republic of Korea (U.S.-ROK) alliance, diplomatic and economic relations between the two nations assume larger than usual importance. This fourth NBR Special Report examines whether economic ties could diffuse conflict in other aspects of the bilateral relationship, or whether economic irritants might be a source of further bilateral tensions. In the Foreword, Stephen W. Bosworth, former Ambassador to the Republic of Korea and current Dean of the Fletcher School at Tufts University, places the importance of United States-Republic of Korea relations in the broader context of ongoing changes in Northeast Asia. …

Montana Nonresident Traveler Expenditures And Economic Contribution: 2002, Norma Nickerson

Institute for Tourism and Recreation Research Publications

This report shows the economic contributions, expenditures, and average daily spending of nonresident visitors to Montana during 2002.

Liability Rules For Constitutional Rights: The Case Of Mass Detentions, Eugene Kontorovich

ExpressO

Constitutional law assumes that rights should always be protected by property rules – that is, the government can only take them with the individual’s consent. This Article extends to constitutional law the insights of Calabresi and Melamed’s famous article on property and liability rules. Whether rights should be protected by property rules or liability rules depends on the transaction costs of negotiating a transfer of rights. As transaction costs rise, liability rules become more attractive.

This Article shows that liability rules can have an important role in constitutional law. Using mass detentions in national security emergencies as a case study, …

Norms, Rationality, And Communication: A Reputation Theory Of Social Norms, Andreas Engert

ExpressO

Does the discovery of "law and social norms" necessitate breaking with the rational choice paradigm? In this paper, I argue for an answer in the negative. To this end, I propose a reputation theory of social norms, which differs from other proposals in two principal respects: First, it explains norms without any assumption of behavioral constraints (like habit or conscience) and normative motivations (like altruism or aspiration to esteem). Second, it does even without any assumption regarding model-exogenous, private information that most other reputation and signaling explanations use (such as the discount rate in Eric Posner's signaling model).

Instead, reputation …

Search, Seizure And (False?) Arrest: An Analysis Of Fourth Amendment Remedies When Police Can Plant Evidence, Dhammika Dharmapala, Thomas J. Miceli

Economics Working Papers

The Fourth Amendment prohibits unreasonable searches and seizures in criminal investigations. The Supreme Court has interpreted this to require that police obtain a warrant prior to search and that illegally seized evidence be excluded from trial. A consensus has developed in the law and economics literature that tort liability for police officers is a superior means of deterring unreasonable searches. We argue that this conclusion depends on the assumption of truth-seeking police, and develop a game-theoretic model to compare the two remedies when some police officers (the bad type) are willing to plant evidence in order to obtain convictions, even …

An Economic Model Of Fair Use, Thomas J. Miceli, Richard P. Adelstein

Economics Working Papers

The doctrine of fair use allows unauthorized copying of original works of art, music, and literature for limited purposes like criticism, research, and education, based on the rationale that copyright holders would consent to such uses if bargaining were possible. This paper develops the first formal analysis of fair use in an effort to derive the efficient legal standard for applying the doctrine. The model interprets copies and originals as differentiated products and defines fair use as a threshold separating permissible copying from infringement. Application of the analysis to several key cases (including the recent Napster case) shows that this …

Real Options In Law: (Possibly, Frivolous) Litigation And Other Applications, Peter H. Huang

ExpressO

This Article advances the thesis that real options are not only ubiquitous in law, but also provide novel insights about legal decision making, doctrines and rules. An introduction provides a brief a primer about financial options, real options, and real options in law. Part I of this Article develops implications of the fact that every lawsuit contains a sequence of real options for the plaintiff to unilaterally abandon that lawsuit. Part II of this Article appraises the limitations of game-theoretic analysis of the abandonment options embedded in litigation and some responses to such limitations. Part III of this Article illustrates …

No Free Lunch: How Settlement Can Reduce The Legal System's Ability To Induce Efficient Behavior, Abraham Lee Wickelgren

ExpressO

While there is widespread agreement that it is better for cases to settle than go to trial, the arguments in favor of settlement have typically overlooked how settlement affects one of the most important functions of the legal system: influencing the behavior that gives rise to lawsuits. This essay argues that, in some cases, settlement can impair the ability of the legal system to deter harmful behavior without chilling desirable behavior. Where it exists, this effect is a fundamental property of settlement in that there is no way to change other legal rules to eliminate it. Because settlements also have …

Teaching The Ethical Foundations Of Economics, Jonathan B. Wight

Economics Faculty Publications

Some economists consider their discipline a science, and thereby divorced from messy ethical details, the normative passions of right and wrong. They teach in a moral vacuum, perhaps even advocating economic agents' operating independently and avariciously, asserting that this magically produces the greatest good for society.