Social and Behavioral Sciences Commons^™

The Future Of Digital Communications Research And Policy, Scott J. Wallsten

Scott J. Wallsten

No abstract provided.

Clearing House And Counterparty Default Risk In Derivatives Market, Poonam Mehra

Poonam Singh Mehra

No abstract provided.

Crisis And Global Imbalances: The Fragility Of The Current International Monetary System, Andrea Ricci

Andrea Ricci

Economic Writing On The Pressing Problems Of The Day: The Roles Of Moral Intuition And Methodological Confusion, Julie A. Nelson

Julie A. Nelson

Economists are often called on to help address pressing problems of the day, yet many economists are uncomfortable about disclosing the values that they bring to this work. This essay explores how an inadequate understanding of the role of methodology, as related to ethics and human emotions of concern, underlies this reluctance and compromises the quality of economic advice. The tension between caring about the problems, on the one hand, and writing within the existing culture of the discipline, on the other, are illustrated with examples from U.S. policymaking, behavioral economics, and the economics of climate change and global poverty. …

Residential And Business Broadband Prices Part 2: International Comparisons, Scott J. Wallsten, James Riso

Scott J. Wallsten

For this project, we assemble a new dataset consisting of more than 25,000 residential and business broadband plans from all OECD countries from 2007–2009. We explore three issues: the relationship between plan components—such as metering—and consumer prices, price changes over time, and how broadband prices vary across countries.

This paper, part 2 of the project, studies prices and price changes over time in the United States and other OECD countries. We find that residential prices in the U.S. remained fairly stable overall in this time period for both standalone and triple play (voice, video, and data) plans, though prices for …

Second Order Ambiguity In Very Low Probability Risks: Food Safety Valuation, P A. Kivi, J F. Shogren

Jason Shogren

Food consumption involves inherently risky decisions with uncertain probabilities. This study examines how second-order ambiguity, or uncertainty over probabilities, affects food safety decisions. We conduct a food safety survey wherein subjects face both unambiguous and ambiguous situations, each with the same expected value. Respondents show a preference for unambiguous situations and state a willingness to pay to avoid ambiguity.

Food Import Refusals: Evidence From The European Union, Kathy Baylis, Lia Nogueira, Kathryn Pace

Kathy Baylis

No abstract provided.

International Labor Rights And The Sovereignty Question: Nafta And Guatemala, Two Case Studies, Lance A. Compa

Lance A Compa

[Excerpt] Labor rights advocates in the United States and allied organizations abroad attempting to establish international fair labor standards run up against traditional notions of sovereignty in formulating national labor policies and development strategies. In the same way that entrenched sovereignty principles gradually yielded to international human rights claims after World War E, sovereignty is now being challenged by claims of international laborrights in the field of employment standards and industrial relations. This Article seeks to illuminate this challenge to sovereignty in two case studies of labor rights advocacy. Part I sets the stage with an overview of the growing …

Risky Curves: From Unobservable Utility To Observable Opportunity Sets, Shyam Sunder

Shyam Sunder

No abstract provided.

Management-Based Regulation: Prescribing Private Management To Achieve Public Goals, Cary Coglianese, David Lazer

David Lazer

We analyze a little-studied regulatory approach that we call "management-based" regulation. Management-based regulation directs regulated organizations to engage in a planning process that aims toward the achievement of public goals, offering firms flexibility in how they achieve public goals. In this paper we develop a framework for assessing conditions for using management-based regulation as opposed to the more traditional technology-based or performance-based regulation. Drawing on case studies of management-based regulation in the areas of food safety, industrial safety, and environmental protection, we show how management-based regulation can be an effective strategy when regulated entities are heterogeneous and regulatory outputs are …

Sunday Liquor Laws And Crime, Paul Heaton

Paul Heaton

Many jurisdictions have considered relaxing Sunday alcohol sales restrictions, yet such restrictions' effects on public health remain poorly understood. This paper analyzes the effects of legalization of Sunday packaged liquor sales on crime, focusing on the phased introduction of such sales in Virginia beginning in 2004. Differences-in-differences and triple-differences estimates indicate the liberalization increased minor crime by 5% and alcoholinvolved serious crime by 10%. The law change did not affect domestic crime or induce significant geographic or inter-temporal crime displacement. The costs of this additional crime are comparable to the state's revenues from increased liquor sales.

Iii Ventures With A Finite Sequence Of Payments Of Uncertain Duration, Lester G. Telser

Lester G Telser

Part III describes a model of the valuation of ownership shares in joint ventures with limited liability such as corporations.

Ii Distribution Of Share Valuations, Lester G. Telser

Lester G Telser

A model of the market in shares of common stock enhances understanding of the empirical results in Part I

Iii. Computing The Saddle Value For Von Neumann's Model Of An Expanding Economy With Constant Returns, Lester G. Telser

Lester G Telser

Iterations of suitable linear programming problems can rapidly find the saddle value of the input output matrix although the problem is hard owing to its nonlinearity. The growth rate and real interest rate are equal in equilibrium in v. Neumann's model.

I Why The New York Stock Exchange Crashed In 1929 And 1987 And Why It Could Crash Again, Lester G. Telser

Lester G Telser

Between January 2, 1929 and December 31, 1988 the Dow-Jones Index of 30 Industrial moved up or down more than 2 percent on 958 trading sessions out of the 16,084 total. Twice in October, 1929 and in October 1987 the drop was more than 23 percent. An unmistakable striking similarity in the trading pattern before both Crashes explain why they occurred.

Guerra De Monedas, Guillermo Arosemena

Guillermo Arosemena

No abstract provided.

Tlc Colombia - Unión Europea: Perspectivas Preliminares De Sus Relaciones En Contexto De Globalización., Iván A. Rojas V

Iván Rojas V

Men In Black: The Impact Of New Contracts On Football Referees’ Performances, Babatunde Buraimo, Alex Bryson, Rob Simmons

Dr Babatunde Buraimo

No abstract provided.

Reit Ipos And The Cost Of Going Public, Steven D. Dolvin, Mark Pyles

Steven D. Dolvin

We examine Initial Public Offerings (IPOs) of Real Estate Investment Trusts (REITs) that went public between 1986 and 2004. Consistent with previous studies, we find that REIT IPOs are associated with lower levels of underpricing relative to traditional issues. We also find that REITs are associated with smaller file price revisions. Both findings are potentially attributable to the lower level of uncertainty associated with pricing REITs. In contrast, using an alternative measure of issuance costs that incorporates the share retention decision by preexisting owners, we find no significant difference between REIT and non-REIT issues, suggesting the results of previous studies …

Reit Ipos And The Cost Of Going Public, Steven D. Dolvin, Mark Pyles

Steven D. Dolvin

We examine Initial Public Offerings (IPOs) of Real Estate Investment Trusts (REITs) that went public between 1986 and 2004. Consistent with previous studies, we find that REIT IPOs are associated with lower levels of underpricing relative to traditional issues. We also find that REITs are associated with smaller file price revisions. Both findings are potentially attributable to the lower level of uncertainty associated with pricing REITs. In contrast, using an alternative measure of issuance costs that incorporates the share retention decision by preexisting owners, we find no significant difference between REIT and non-REIT issues, suggesting the results of previous studies …

Análisis De Las Fuentes De Oferta Y Demanda En El Mercado De Divisas, Alfredo Bateman

Alfredo Bateman

No abstract provided.

What Economists Really Know, And What They Don't, Richard Adelstein

Richard Adelstein

Military Conquest And Sovereign Debt: Chile, Peru And The London Bond Market, 1876–1890, Kirsten Wandschneider, Richard Sicotte, Catalina Vizcarra

Kirsten Wandschneider

As a result of the War of the Pacific (1879–1883), Chile conquered Peruvian and Bolivian territories rich in nitrates and guano. We conduct econometric tests for structural breaks in the time series of the government bonds for Chile and Peru between 1876 and 1890 in order to examine the effects of the changes in resource endowments on the investors’ perceptions of the risk premia of Chilean and Peruvian securities. Our results reveal that investors were extremely pessimistic about the prospects of Chilean, and especially Peruvian debt prior to the war. Early Chilean victories that anticipated the transfer of the richly …

Ellen Tupper, Tammy Horn

Tammy Horn

No abstract provided.

Offshoring And Labor Market Outcomes In The Presence Of Collective Bargaining, Priya Ranjan

Priya Ranjan

This paper studies the implications of offshoring for unemployment and wages in a search unemployment framework when the wage is determined by collective bargaining. It shows that there is a non-monotonic relationship between the cost of offshoring and unemployment but the relationship between the cost of offshoring and wage is monotonic. Starting from a high cost of offshoring, a decrease in the cost of offshoring reduces unemployment first and then increases it. The wage is monotonically increasing in the cost of offshoring. Comparing autarky equilibrium with offshoring equilibrium, it finds that for a large range of the cost of offshoring, …

Are Update Volume 14, Number 1, Richard Sexton, Robert Stavins, David Victor, Matthew Kahn, Christopher Knittel, Dan Sumner, John Rosen-Molina

Matthew E Kahn

California’s Climate Change Policy: The Economic and Environmental Impacts of AB 32

AB 32 and Climate Change: The National Context of State Policies for a Global Commons Problem

The Political Context for California’s Climate Change Policy

The Political Economy of Climate Change Legislation: An Economist’s Perspective

Economic Models of AB 32: An Evaluation

Impacts of AB 32 on Agriculture

Sociology, Economics, And Gender: Can Knowledge Of The Past Contribute To A Better Future?, Julie A. Nelson

Julie A. Nelson

This essay explores the profoundly gendered nature of the split between the disciplines of economics and sociology which took place in the late 19th and early 20th centuries, emphasizing implications for the relatively new field of economic sociology. Drawing on historical documents and feminist studies of science, it investigates the gendered processes underlying the divergence of the disciplines in definition, method, and degree of engagement with social problems. Economic sociology has the potential to heal this disciplinary split, but only if the field is broadened, deepened, and made wiser and more self-reflective through the use of feminist analysis.

Economic Crisis And External Trade In Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Nowadays, Sudan suffers severe financial crisis with the eminent demise of 75% of its oil revenues that represented over 90% of its foreign currency after the secession of its Southern part after a constitutional referendum. The compensatory revenues generating economic sectors are not able in the short, medium or runs to function due to the lack/diminished infrastructures. Hard currency exchange rates have soured against the domestic one and inflation sky-rocketed with severe recession grasping the economic cycle in the country which assess logic assumptions of stagflation. Reforming Sudan's foreign trade sector is essential though it will not replace oil revenues …

Convergencia Y Divergencia En El Sector Industrial De Los Estados Mexicanos: Un Análisis Espacial No Paramétrico, Vicente German-Soto, Jose Luis Escobedo Sagaz, Luis Flores Gallegos

Vicente German-Soto

Ecosystems As Natural Assets, Edward Barbier

Edward B Barbier

No abstract provided.