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Articles 1 - 30 of 120
Full-Text Articles in Social and Behavioral Sciences
Justice, Inclusion, And Incentives, Ghislain Herman Demeze-Jouatsa, Roland Pongou, Jean-Baptiste Tondji
Justice, Inclusion, And Incentives, Ghislain Herman Demeze-Jouatsa, Roland Pongou, Jean-Baptiste Tondji
Economics and Finance Faculty Publications and Presentations
How does justice affect individual incentives and efficiency in a political economy? We show that elementary principles of distributive justice guarantee the existence of a self-enforcing contract whereby agents non-cooperatively choose their inputs and derive utility from their pay. Chief among these principles is that your pay should not depend on your name, and a more productive individual should not earn less. We generalize our analysis to incorporate inclusivity, ensuring basic pay to unproductive agents, implemented through progressive taxation and redistribution. Our findings show that without redistribution, any self-enforcing agreement may be inefficient, but a minimal level of redistribution guarantees …
Coordinated And Uncoordinated Punishment In A Team Investment Game, Vicente Calabuig, Natalia Jiménez-Jiménez, Gonzalo Olcina, Ismael Rodriguez-Lara
Coordinated And Uncoordinated Punishment In A Team Investment Game, Vicente Calabuig, Natalia Jiménez-Jiménez, Gonzalo Olcina, Ismael Rodriguez-Lara
ESI Publications
Coordinated punishment occurs when punishment requires a specific number of punishers to be effective, otherwise, no damage will be inflicted on the target. While societies often rely on this punishment device, its benefits are unclear compared to uncoordinated punishment, where punishment decisions are substitutes. In this paper, we compare the efficacy of coordinated and uncoordinated punishment in a team investment game with two investors and one allocator. Our findings indicate that coordinated punishment results in higher levels of cooperation and reciprocity, as measured by the levels of joint investment and the return by allocators. Importantly, this does not translate into …
Essays On The Economics Of Sports Wagering Markets, Jacob Lamb
Essays On The Economics Of Sports Wagering Markets, Jacob Lamb
All Dissertations
Economists have long been enamored with using wagering markets and sports data to answer various economic questions. Wagering market data are readily available to answer any number of questions relating to sports and economics. However, most studies surrounding wagering markets have focused on searching for inefficiencies and, consequently, profitable betting strategies against the house. This dissertation takes a different approach, focusing on the information that can be extracted from efficient wagering markets and using that information to answer economic questions. Rather than hunting for inefficiencies, this dissertation confirms the efficiency of wagering markets and uses wagering markets to answer questions …
Calculating Efficiency For Spatial Autoregressive Stochastic Frontier Model, Levent Kutlu
Calculating Efficiency For Spatial Autoregressive Stochastic Frontier Model, Levent Kutlu
Economics and Finance Faculty Publications and Presentations
When there are efficiency spillovers, we can use a spatial autoregressive stochastic frontier model to estimate total (spillover-corrected) efficiencies. Glass et al. (2016) provide a formula for total efficiency in this context, which is an approximation. We provide the exact formula for the spillover-corrected efficiency. Moreover, we derive total, direct, and indirect marginal effects of environmental variables on spillover-corrected efficiency.
The Effect Of Corruption Control On Efficiency Spillovers, Levent Kutlu, Xi Mao
The Effect Of Corruption Control On Efficiency Spillovers, Levent Kutlu, Xi Mao
Economics and Finance Faculty Publications and Presentations
We examine the effect of corruption control on efficiency and its implications for efficiency spillovers by a stochastic frontier model. Our dataset covers 102 countries from 1996 to 2014. We find a positive relationship between corruption control and efficiency. If neighboring countries have difficulty in handling corruption, the country would be negatively affected by its neighbors' corruption through efficiency spillovers. We then compare the efficiency differences across countries for three time periods: 1996–2002, 2002–2008, and 2008–2014. On average, technical efficiencies slightly increased in the second period compared to the first period. In the third period, the efficiencies declined, particularly in …
Ewom Platforms As Productivity Catalyzers In The Travel Industry: A Two-Stage Double Bootstrap Data Envelopment Analysis, Tomas Saralegui
Ewom Platforms As Productivity Catalyzers In The Travel Industry: A Two-Stage Double Bootstrap Data Envelopment Analysis, Tomas Saralegui
Journal of Sustainability and Resilience
In a fast-paced digitalization context, travel agencies face a challenge to increase productivity. Electronic word of mouth (eWOM) could allow better learning processes, improve communication with customers, and serve as a remarkable diffusion channel. However, this channel is not yet fully embraced by the sector. This research, delimited to Spanish travel agencies in the period 2012-2019, applies a two-stage double bootstrap data envelopment analysis to assess whether eWOM and how firms manage eWOM, contributes to achieving higher levels of efficiency. Results show that firms with higher valence and volume of online reviews tend to be closer to the efficiency frontier. …
Salary Cap Efficiency: A Study Of The Relationship Between A Nfl Quarterback’S Salary And Their Team’S Performance, Prasad Gosavi
Salary Cap Efficiency: A Study Of The Relationship Between A Nfl Quarterback’S Salary And Their Team’S Performance, Prasad Gosavi
Honors Scholar Theses
For years, sports economists have attempted to understand the impact of salary caps in sports leagues, as they can have an impact on a team’s favored personnel approach. In the National Football League (NFL), one of the more important positions is the team’s quarterback, who has the ability to command large contracts. This paper examines the work of past researchers, and attempts to add to the literature by analyzing data from the past ten NFL seasons. I find inconclusive results relating to the relationship between a NFL team’s winning percentage and the amount of salary cap space allocated for their …
Determinants Of Competitive Advantage For Sport Firms: Using Public Big Data In Korea, Iksu Jun, Hojun Sung, Juho Park, Hyun-Woo Lee
Determinants Of Competitive Advantage For Sport Firms: Using Public Big Data In Korea, Iksu Jun, Hojun Sung, Juho Park, Hyun-Woo Lee
Journal of Applied Sport Management
This study examines the determinants of competitive advantage with respect to economic performance of sport firms. Logit regressions estimated dependent variables of economic performance measures based on sales per capita of firms. Determinants of competitive advantage were estimated by efficiency indicators, organization characteristic indicators, and industry classification indicators. Increase in efficiency was a significant determinant of competitive advantage as well as organizational type, size of human resource, diversification of products, and sales growth rate. Operationalizing competitive advantage as outperforming the market average and better than the top 10%, the logit regression model provides means for sport firms to analyze industry …
Bank, Stock Market Efficiency And Economic Growth: Panel Data Evidence From Asean-5, Asia-5 And Oecd-7 Countries, Swee Liang Tan
Bank, Stock Market Efficiency And Economic Growth: Panel Data Evidence From Asean-5, Asia-5 And Oecd-7 Countries, Swee Liang Tan
Research Collection School Of Economics
This paper estimates bank and stock market efficiency associations with real per capita GDP growth by examining panel-data across three different regions using Beck-Katz Panel-Corrected Standard Errors (PCSE) regression. It allows heteroskedastic and/or contemporaneously correlated disturbances across panels, with to specify a common first-order autocorrelation within the panel. The results suggest efficiency effects on growth is not unambiguous. The results suggest a threshold beyond which increase in bank overhead cost hurts economic growth, for developing countries. Likewise, there is a threshold beyond which increase in stock market turnover ratio hurts economic growth, for developed countries. One policy implication of the …
2022-2 Robust Contracts In Common Agency, Keler Marku, Sergio Ocampo, Jean-Baptiste Tondji
2022-2 Robust Contracts In Common Agency, Keler Marku, Sergio Ocampo, Jean-Baptiste Tondji
Department of Economics Research Reports
Business activities often involve a common agent managing a variety of projects on behalf of investors with potentially conflicting interests. The extent of the agent’s actions is also often unknown to investors, who have to design contracts that provide incentives to the manager despite this lack of crucial knowledge. We consider a game between several principals and a common agent, where principals know only a subset of the actions available to the agent. Principals demand robustness and evaluate contracts on a worst-case basis. This robust approach allows for a crisp characterization of the equilibrium contracts and payoffs and provides a …
Municipal Reform In The Progressive Era: Spatial Spread And Fiscal Outcomes Of The Commission Government, Daniel T. Hiller
Municipal Reform In The Progressive Era: Spatial Spread And Fiscal Outcomes Of The Commission Government, Daniel T. Hiller
Honors Theses
The Galveston-Des Moines Plan for commission government, seen as an important municipal reform during the Progressive Era meant to address corruption and inefficiency in many cities, was pitched by business elites and spread like wildfire in the 1910s. Is there a spatial component to the spread of the adoption of the commission form of government? What are the municipal fiscal outcomes of adoption? This paper shows that there was a spatial spread to its adoption using a lagged state adoption proportion variable. This paper also reveals that promises made by business elites such as increased efficiency and projects to improve …
From Soup To Nuts - The Efficiency Of Non-Profits: Evidence From U.S. Food Banks, Mary A. Mattingly
From Soup To Nuts - The Efficiency Of Non-Profits: Evidence From U.S. Food Banks, Mary A. Mattingly
Masters Theses
Nonprofits are a growing part of America’s economy and play an import role in fulfilling the needs of society in addition to private firms and government agencies. Economists haven’t researched nonprofits as much as other firms in the past, but this is starting to change. This project looks at the efficiency of 20 food banks in the United States using Data Envelopment Analysis. The results show that American Food Banks appear to be using their funds efficiently, but others could learn to use their inputs and outputs in a more efficient manner. As more data becomes available, this area of …
Three Keys Of Development: Knowledge, Efficiency And Innovative Entrepreneurship, Irfan Kalayci, Ali Soylu, Baris Aytekin
Three Keys Of Development: Knowledge, Efficiency And Innovative Entrepreneurship, Irfan Kalayci, Ali Soylu, Baris Aytekin
University of South Florida (USF) M3 Publishing
The change in the structure and composition of production factors have always been occurred in the world production history. The competition between sectors and also within each sub-sector that comprise them continues. In this sense, competition has always fed change, transformation and progress. The process phenomenon is the change and transformation movements that occur in the production processes that economies focus on. In this respect, the classification steps emphasize this development. In this study, we discuss economic groups (resource-oriented, productivity-oriented, and innovation-oriented) in terms of drivers of economic development (knowledge, efficiency, innovative entrepreneurship, and productivity). The 3rd Industrial Revolution starting …
The Effect Of Inputs On Poultry Production Output, Ty M. Wolaver
The Effect Of Inputs On Poultry Production Output, Ty M. Wolaver
Masters Theses
To combat poverty and malnutrition, Feed the Future Tworore Inkoko, Twunguke (TI) has set out to teach Rwandan farmers how to grow broilers as additional income for the farmers and an additional protein source within the community to combat malnutrition. Throughout this program, the inputs and outputs of the farmers were recorded, and the goal is to determine an efficiency score for each flock raised and use that information to determine what factors contributed to a higher flock efficiency. A data envelopment analysis (DEA) is used to determine the efficiency score of each flock. Using these efficiency scores, a regression …
How Responsive Is Saudi New Vehicle Fleet Fuel Economy To Fuel-And Vehicle-Price Policy Levers?, Tamara L. Sheldon, Rubal Dua
How Responsive Is Saudi New Vehicle Fleet Fuel Economy To Fuel-And Vehicle-Price Policy Levers?, Tamara L. Sheldon, Rubal Dua
Faculty Publications
This paper investigates the drivers of recent improvements in Saudi Arabia's fleet fuel economy for new vehicles including passenger cars and light-duty trucks. Vehicle choice models are estimated using both aggregate new vehicle sales data and disaggregate new vehicle buyer survey data. The estimated models are used to simulate counterfactual policy scenarios. Simulation results suggest that the Saudi gasoline price elasticity of demand for new vehicle fuel economy decreased slightly over recent years, but it is still more elastic than that of the United States. Moreover, the increase in domestic gasoline prices between 2014 and 2016 accounted for 42% of …
Sfa Application On Islamic Economics And Finance Research, Aam Slamet Rusydiana, Lina Nugraha Rani, Rosadiro Cahyono
Sfa Application On Islamic Economics And Finance Research, Aam Slamet Rusydiana, Lina Nugraha Rani, Rosadiro Cahyono
Library Philosophy and Practice (e-journal)
This study aims to determine the map of SFA research on Islamic economics and finance (IEF). SFA or Stochastic Frontier Approach is one method for parametric efficiency measurement. The data analyzed were in the form of publication of the SFA application research on IEF, totaling 109 articles. Map of the development of SFA field research is obtained through the export process into the .txt file format. The export data is then processed and analyzed using the VOSviewer application program to determine the SFA development’s bibliometric map in Islamic finance application research. The results showed that the number of publications on …
Efficiency Ranking Of It Service-Producing Firms: Case Of Indian Multinationals, H. D. Vinod, P. M. Rao
Efficiency Ranking Of It Service-Producing Firms: Case Of Indian Multinationals, H. D. Vinod, P. M. Rao
International Review of Business and Economics
Production functions often study the output of physical products with capital and labor inputs. Instead, we use 2004 to 2016 data for 55 In- dian multinational companies to assess the production of services. Our estimates of flexible production functions yield estimates of scale elasticity (SCE) and elasticity of substitution (EOS) for pooled data. A subset of 31 companies with relatively complete data yields their individual SCE and EOS values, revealing their heterogeneity. Sorting the 31 companies by their SCE help name scale-efficient (high SCE) and scale inefficient (low SCE) multinationals. Similarly, a listing of 31 companies sorted by EOS allows …
On The Origin, Content, And Relevance Of The Market Failures Approach, Jeffrey Moriarty
On The Origin, Content, And Relevance Of The Market Failures Approach, Jeffrey Moriarty
Philosophy Faculty Publications
The view of business ethics that Christopher McMahon calls the “implicit morality of the market” and Joseph Heath calls the “market failures approach” has received a significant amount of recent attention. The idea of this view is that we can derive an ethics for market participants by thinking about the “point” of market activity, and asking what the world would have to be like for this point to be realized. While this view has been much-discussed, it is still not well-understood. This paper seeks to remedy this problem. I begin by showing, against some recent commentators, that McMahon’s view and …
The Law And Economics Of Redistribution, Matthew Dimick
The Law And Economics Of Redistribution, Matthew Dimick
Journal Articles
Should legal rules be used to redistribute income? Or should income taxation be the exclusive means for reducing income inequality? This article reviews the legal scholarship on this question. First, it traces how the most widely cited argument in favor of using taxes exclusively--Kaplow & Shavell's (1994) double-distortion argument--evolved from previous debates about whether legal rules could even be redistributive and whether law and economics should be concerned exclusively with efficiency or with distribution as well. Next, it surveys the responses to the double-distortion argument. These responses appear to have had only limited success in challenging the sturdy reputation of …
Locating An Optimal Site For A Controversial Facility, Jean-Baptiste Tondji
Locating An Optimal Site For A Controversial Facility, Jean-Baptiste Tondji
Economics and Finance Faculty Publications and Presentations
We consider a situation in which policymakers in a local community have to choose an optimal site for a controversial and essential project in a democratic setting. Policymakers have either single-dipped or multi-dipped preferences over a Euclidean space of possible locations. We provide two existence results for this issue. There exists at most two optimal sites if the size of policymakers is odd, and they have single-dipped preferences over a one-dimensional site space.
University Technology Transfer Efficiency In A Factor Driven Economy: The Need For A Coherent Policy In Egypt, Hala Elhadidi, David A. Kirby
University Technology Transfer Efficiency In A Factor Driven Economy: The Need For A Coherent Policy In Egypt, Hala Elhadidi, David A. Kirby
Business Administration
The article examines the effectiveness of instruments to promote technology transfer and foster entrepreneurial innovation in Egypt where there are individual measures but no com- prehensive, unified policy or strategy to promote the transfer and commercialisation of the intellectual property stemming from university research. The study examines the extent of technology transfer in the country and the effectiveness of the various existing measures through a four-phase investigation involving in-depth interviews with experts, a question- naire survey of 400 Egyptian Science, Engineering and Technology academics, three case studies of Technology Transfer Offices and a 237 respondent industry survey. The results indicate …
Climate Risks And Market Efficiency, Harrison Hong, Frank Weikai Li, Jiangmin Xu
Climate Risks And Market Efficiency, Harrison Hong, Frank Weikai Li, Jiangmin Xu
Research Collection Lee Kong Chian School Of Business
Climate science finds that the trend towards higher global temperatures exacerbates the risks of droughts. We investigate whether the prices of food stocks efficiently discount these risks. Using data from thirty-one countries with publicly-traded food companies, we rank these countries each year based on their long-term trends toward droughts using the Palmer Drought Severity Index. A poor trend ranking for a country forecasts relatively poor profit growth for food companies in that country. It also forecasts relatively poor food stock returns in that country. This return predictability is consistent with food stock prices underreacting to climate change risks.
Three Essays On The Economics Of Public Libraries, Amir Borges Ferreira Neto
Three Essays On The Economics Of Public Libraries, Amir Borges Ferreira Neto
Graduate Theses, Dissertations, and Problem Reports
This dissertation explores empirical issues concerning public libraries in the United States. In particular, it analyzes the direct and indirect effects to and from public libraries, on different issues such as charitable donations, labor market outcomes, institutions and technical efficiency. Chapter 1 discusses the economics of public libraries and its relevance. In addition, it provides an outline of the dissertation and its main contribution to the literature. Chapter 2, analyzes the determinants of donations to public libraries testing the crowding effect from government funding of public libraries. I find suggestive results of a crowd in effect with an inverted U …
Is Microfinance The Best Tool For Empowerment? Analysis Of Efficiency Of Developing Economies’S Microfinance Institutions In Empowering Women Using Data Envelopment Analysis Meta Frontier Technology, Beryl Isiji
Honors Theses
Poverty is still prevalent in developing economies, although the proportion of people living below the international poverty line ($1.90 a day) decreased by 24.6% between 1990 and 2013 according to World Bank. Women are more likely than men to live in poverty due to minimal access to resources. Microfinance institutions (MFIs) lend small funds to women thereby empowering them, encouraging entrepreneurship and creating creditworthiness.
This thesis examines the effect of MFIs on gender inequality via women empowerment by calculating output-oriented Data Envelopment Analysis using the meta frontier technology, and relating the efficiency results to the Gender Inequality Index (GII) obtained …
(Wp 2018-01) Ethics And Economics: A Complex Systems Approach, John B. Davis
(Wp 2018-01) Ethics And Economics: A Complex Systems Approach, John B. Davis
Economics Working Papers
This chapter examines the nature of ethics and economics as a single subject of investigation, and uses a complex systems approach to characterize the nature of that subject. It then distinguishes mainstream economic and social economic visions of it, where the former assumes that market processes encompass social processes, and the latter assumes that market processes are embedded in social processes. For each vision, strong and weak theses are compared. Both visions are first explained in terms of their respective views of the positive-normative distinction, then in terms of a central normative principle, and then in terms of their policy …
The Analysis Of Labor Market Efficiency: A Comparative Analysis Of Maine And The United States, Sarah M. Welch
The Analysis Of Labor Market Efficiency: A Comparative Analysis Of Maine And The United States, Sarah M. Welch
Honors College
The purpose of this research is to analyze the change in the labor market efficiency from before to after the great recession and its effect on economic output following the recession. Concerns have been raised about the adjustment of the labor market compared to the recovery of other economic indicators. Influenced by the methods of Blanchard and Diamond (1989) and Dixon et al. (2014), the Beveridge curve and matching function are used to estimate and observe changing labor market dynamics through the relationship between unemployment and job vacancies.
This thesis finds that labor markets for both Maine and the United …
Estimation Of Cost Efficiency Without Cost Data, Levent Kutlu, Ran Wang
Estimation Of Cost Efficiency Without Cost Data, Levent Kutlu, Ran Wang
Economics and Finance Faculty Publications and Presentations
One of the advantages of conduct parameter games is that they enable estimation of market power without total cost data. In line with this, we develop a conduct parameter based model to estimate the firm specific “marginal cost efficiency” and conduct without using total cost data. The marginal cost efficiency is an alternative measure of efficiency that is based on deadweight loss. We illustrate our methodology by estimating firm-route-quarter specific conducts and marginal cost efficiencies of U.S. airlines for Chicago based routes without using route-level total cost data.
Estimating Efficiency In A Spatial Autoregressive Stochastic Frontier Model, Levent Kutlu
Estimating Efficiency In A Spatial Autoregressive Stochastic Frontier Model, Levent Kutlu
Economics and Finance Faculty Publications and Presentations
The spatial autoregressive stochastic frontier model of Glass et al.(2016) is based on distributional assumptions on two-sided and one-sided error terms. After estimating the model parameters, the efficiency estimates need to be corrected due to the presence of spatial autoregressive term in their model. Glass et al.(2016) estimate the corrected efficiencies by employing ideas from a distribution-free method on the efficiency estimation, which may be sensitive to outliers. We propose an alternative way to correct efficiency estimates that is in line with the distribution-based methods.
School District Consolidation Policies: Endogenous Cost Inefficiency And Saving Reversals, Mustafa U. Karakaplan, Levent Kutlu
School District Consolidation Policies: Endogenous Cost Inefficiency And Saving Reversals, Mustafa U. Karakaplan, Levent Kutlu
Economics and Finance Faculty Publications and Presentations
Some education policy studies suggest that consolidation of public school districts saves resources. However, endogeneity in cost models would result in incorrect estimates of the effects of consolidation. We use a new stochastic frontier methodology to examine district expenditures while handling endogeneity. Using the data from California, we find that the effects of student achievement and education market concentration on expenditure per pupil are substantially larger when endogeneity is handled. Our findings are robust to concerns such as instrumental variable adequacy and spatial interactions. Our consolidation simulations indicate that failure to address endogeneity can result in unrealistic expectations of savings.
Endogeneity In Panel Stochastic Frontier Models: An Application To The Japanese Cotton Spinning Industry, Mustafa U. Karakaplan, Levent Kutlu
Endogeneity In Panel Stochastic Frontier Models: An Application To The Japanese Cotton Spinning Industry, Mustafa U. Karakaplan, Levent Kutlu
Economics and Finance Faculty Publications and Presentations
We present a panel stochastic frontier model that handles the endogeneity problem. This model can treat the endogeneity of both frontier and inefficiency variables. We apply our method to examine the technical efficiency of Japanese cotton spinning industry. Our results indicate that market concentration is endogenous, and when its endogeneity is properly handled, it has a larger negative impact on the technical efficiency of cotton spinning plants. We find that the exogenous model substantially overestimates efficiency in concentrated markets.