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Full-Text Articles in Other Economics

The Supply Side Determinants Of Territory And Conflict, Jordan Adamson, Erik O. Kimbrough Oct 2018

The Supply Side Determinants Of Territory And Conflict, Jordan Adamson, Erik O. Kimbrough

ESI Working Papers

What determines the geographic extent of territory? We microfound and extend Boulding’s “Loss of Strength Gradient” to predict the extensive and intensive margins of conflict across space. We show how economies of scale in the production of violence and varying costs of projecting violence at a distance combine to affect the geographic distribution of conflict and territory. We test and probe the boundaries of this model in an experiment varying the fixed costs of conflict entry. As predicted, higher fixed costs increase the probability of exclusive territories; median behavior closely tracks equilibrium predictions in all treatments.


A Bit Like Cash: Understanding Cash-For-Bitcoin Transactions Through Individual Vendors, Stephanie J. Robberson, Mark R. Mccoy Oct 2018

A Bit Like Cash: Understanding Cash-For-Bitcoin Transactions Through Individual Vendors, Stephanie J. Robberson, Mark R. Mccoy

Journal of Digital Forensics, Security and Law

As technology improves and economies become more globalized, the concept of currency has evolved. Bitcoin, a cryptographic digital currency, has been embraced as a secure and convenient type of money. Due to its security and privacy for the user, Bitcoin is a good tool for conducting criminal trades. The Financial Crimes Enforcement Network (FinCEN) has regulations in place to make identification information of Bitcoin purchasers accessible to law enforcement, but enforcing these rules with cash-for-Bitcoin traders is difficult. This study surveyed cash-for-Bitcoin vendors in Oklahoma, Texas, Arkansas, Missouri, Kansas, Colorado, and New Mexico to determine personal demographic information, knowledge of ...


Conditional Independence In A Binary Choice Experiment, Nathaniel Wilcox Oct 2018

Conditional Independence In A Binary Choice Experiment, Nathaniel Wilcox

ESI Working Papers

Experimental and behavioral economists, as well as psychologists, commonly assume conditional independence of choices when constructing likelihood functions for structural estimation. I test this assumption using data from a new experiment designed for this purpose. Within the limits of the experiment’s identifying restriction and designed power to detect deviations from conditional independence, conditional independence is not rejected. In naturally occurring data, concerns about violations of conditional independence are certainly proper and well-taken (for well-known reasons). However, when an experimenter employs contemporary state-of-the-art experimental mechanisms and designs, the current evidence suggests that conditional independence is an acceptable assumption for analyzing ...


Experimental Research On Contests, Roman M. Sheremeta Oct 2018

Experimental Research On Contests, Roman M. Sheremeta

ESI Working Papers

Costly competitions between economic agents are modeled as contests. Researchers use laboratory experiments to study contests and test comparative static predictions of contest theory. Commonly, researchers find that participants’ efforts are significantly higher than predicted by the standard Nash equilibrium. Despite overbidding, most comparative static predictions, such as the incentive effect, the size effect, the discouragement effect and others are supported in the laboratory. In addition, experimental studies examine various contest structures, including dynamic contests (such as multi-stage races, wars of attrition, tug-of-wars), multi-dimensional contests (such as Colonel Blotto games), and contests between groups. This article provides a short review ...


The Distribution Of Information And The Price Efficiency Of Markets, Brice Corgnet, Mark Desantis, David Porter Oct 2018

The Distribution Of Information And The Price Efficiency Of Markets, Brice Corgnet, Mark Desantis, David Porter

ESI Working Papers

Apparently contradictory evidence has accumulated regarding the extent to which financial markets are informationally efficient. Shedding new light on this old debate, we show that differences in the distribution of private information may explain why informational efficiency can vary greatly across markets. We find that markets are informationally efficient when complete information is concentrated in the hands of competing insiders whereas they are less efficient when private information is dispersed across traders. A learning model helps to illustrate why inferring others’ private information from prices takes more time when information is more dispersed. We discuss the implications of our findings ...


Big Data In Economics, Matthew Harding, Jonathan Hersh Sep 2018

Big Data In Economics, Matthew Harding, Jonathan Hersh

Economics Faculty Articles and Research

Big Data refers to data sets of much larger size, higher frequency, and often more personalized information. Examples include data collected by smart sensors in homes or aggregation of tweets on Twitter. In small data sets, traditional econometric methods tend to outperform more complex techniques. In large data sets, however, machine learning methods shine. New analytic approaches are needed to make the most of Big Data in economics. Researchers and policymakers should thus pay close attention to recent developments in machine learning techniques if they want to fully take advantage of these new sources of Big Data.


Younger Federal District Court Judges Favor Presidential Power, Tom Campbell, Nathaniel T. Wilcox Sep 2018

Younger Federal District Court Judges Favor Presidential Power, Tom Campbell, Nathaniel T. Wilcox

ESI Working Papers

From 1960 to 2015, Federal District Court opinions involving challenges to Executive Branch authority show that U.S. Federal District Court judges (trial judges) support such authority less as they age, with a sharp decline beginning near age 57. We argue that District judges know that elevation to the Federal Circuit Court of Appeals becomes increasingly improbable, and hence have less reason to ‘cooperate’ with the Executive, with advancing age. Political variables (and other variables) introduced as extra regressors do not reverse our main results. When there are contemporaneous vacancies on their Circuit courts, District judges in the eleven State ...


Partners Or Strangers? Cooperation, Monetary Trade, And The Choice Of Scale Of Interation, Maria Bigoni, Gabriele Camera, Marco Casari Aug 2018

Partners Or Strangers? Cooperation, Monetary Trade, And The Choice Of Scale Of Interation, Maria Bigoni, Gabriele Camera, Marco Casari

ESI Working Papers

We show that monetary exchange facilitates the transition from small to large-scale economic interactions. In an experiment, subjects chose to play an “intertemporal cooperation game” either in partnerships or in groups of strangers where payoffs could be higher. Theoretically, a norm of mutual support is sufficient to maximize efficiency through large-scale cooperation. Empirically, absent a monetary system, participants were reluctant to interact on a large scale; and when they did, efficiency plummeted compared to partnerships because cooperation collapsed. This failure was reversed only when a stable monetary system endogenously emerged: the institution of money mitigated strategic uncertainty problems.


The Connection Between Race And Performance Of Nba Draft Picks, Jeremiah Mitchell Aug 2018

The Connection Between Race And Performance Of Nba Draft Picks, Jeremiah Mitchell

School of Arts & Sciences Theses

This paper examines the relationship between race and performance in terms of one of the highest forms of efficiency in basketball, field goal percentage, based on college statistics, with regard to draft position, career earnings and NBA win shares.


The Missing Pieces Of The Economic Debate Over Immigration Reform, Exequiel Hernandez Aug 2018

The Missing Pieces Of The Economic Debate Over Immigration Reform, Exequiel Hernandez

Penn Wharton Public Policy Initiative

To the extent that immigration reform is discussed in terms of economics, the debate tends to focus exclusively on labor issues-specifically, how immigrants affect jobs and wages for native citizens. But to understand the economic effects of immigration, and thus develop sounder policies, policymakers need to consider how immigration affects all three core components of economic growth: not just labor, but capital and innovation too.

In the Penn Wharton Public Policy Brief, "The Missing Pieces of the Economic Debate Over Immigration Reform/whr.tn/2vmKbK8>," Professor Exequiel Hernandez discusses new research showing that immigration produces gains for the U.S ...


The Impact Of Remittances On Education Attainment: Evidence From Dominican Republic, Tahiya Begum Jul 2018

The Impact Of Remittances On Education Attainment: Evidence From Dominican Republic, Tahiya Begum

Honors College Theses

This paper will examine the relationship between remittances and education attainment focusing on Dominican Republic in 2002. This study will focus on households in Dominican Republic using surveys from IPUMS international and the data is cross-sectional. Sending remittances increases the income for households, which in return, influences the spending on education. The study of remittances is analyzed in a more cultural and social value rather than entirely economic. The dynamic and structure of a family is crucial when studying the effects of remittances in a developing country. Key findings from this analysis is that the relationship between education attainment and ...


Applied Economics (Clayton), Sheryne Southard, Christie Burton, Bryan Labrecque, Xueyu Cheng, Elnora Farmer Jul 2018

Applied Economics (Clayton), Sheryne Southard, Christie Burton, Bryan Labrecque, Xueyu Cheng, Elnora Farmer

Computer Science and Information Technology Grants Collections

This Grants Collection for Applied Economics was created under a Round Ten ALG Textbook Transformation Grant.

Affordable Learning Georgia Grants Collections are intended to provide faculty with the frameworks to quickly implement or revise the same materials as a Textbook Transformation Grants team, along with the aims and lessons learned from project teams during the implementation process.

Documents are in .pdf format, with a separate .docx (Word) version available for download. Each collection contains the following materials:

  • Linked Syllabus
  • Initial Proposal
  • Final Report


Equilibrium Wage Rigidity In Directed Search, Gabriele Camera, Jaehong Kim Jun 2018

Equilibrium Wage Rigidity In Directed Search, Gabriele Camera, Jaehong Kim

ESI Working Papers

Matching frictions and downward wage rigidity emerge as equilibrium phenomena in a twosided labor market where firms sustain variable wage adjustment costs. Firms post wages to attract workers and matches are endogenous. Reducing the wage relative to the wage previously posted is costly to the firm, where the cost is proportional to the size of the proposed cut. Shocks to the firm’s profitability may yield an equilibrium wage above what the firm would offer absent proportional adjustment costs. Wage cuts can be partial or full, immediate or delayed, and are non-linear in the shock size. Importantly, wages are sticky ...


Moderate Growth With A Stronger Industrial Sector, Eric Thompson Jun 2018

Moderate Growth With A Stronger Industrial Sector, Eric Thompson

Business in Nebraska

Nebraska will record solid economic growth during the forecast period but will lag U.S. growth. While Nebraska’s large farming sector has stabilized, it will not contribute much to economic growth during the forecast period. Job growth also will be sluggish in transportation, retail trade and state and local government. Job growth, however, will be stronger in the services, finance, manufacturing and construction. Projected growth rates for 2018 to 2020 are presented in Table 1.

Employment will grow by 0.8% to 1.0% per year, below the national rate. Non-farm income will grow between 3.6% and 3 ...


Solar Energy For The Soul: Solving America’S Fuel Poverty Problem With Solar Panels For The Poor, Samantha St. Marie Jun 2018

Solar Energy For The Soul: Solving America’S Fuel Poverty Problem With Solar Panels For The Poor, Samantha St. Marie

Honors Theses

In the United States today, at least 14 million Americans live in fuel poverty. These Americans spend at least ten percent of household income on energy costs ranging from fuel to electricity. The purpose of this thesis is to identify an innovative solution to mitigate the effects of the energy affordability crisis in the United States. After examining national trends and researching localized efforts, I determined that solar panels may be able to support the modern energy needs of the fuel poor. The study uses a least squares regression model with fixed effects to determine factors influencing solar adoption at ...


The Impacts Of Natural Disasters On Educational Attainment: Cross-Country Evidence From Macro Data, Lois Onigbinde May 2018

The Impacts Of Natural Disasters On Educational Attainment: Cross-Country Evidence From Macro Data, Lois Onigbinde

Master's Theses

Do natural disasters impact educational attainment? Education as a paramount factor of economic development suffers from the uncontrollable effects of these increasing events from storms to floods, earthquakes to wildfires. Globally, educational resources are destroyed, directly and indirectly, students and teachers are displaced or killed, parents’ income is affected because of natural disasters. Investments in human capital for rich- and low-income countries are exposed to the uneven impact of natural disasters that adjusts household and country-level decisions, leaving them to short and long-run losses. Exploring the influence of natural disasters on secondary school attainment across a sample of 85 countries ...


The Impacts Of Natural Disasters On Educational Attainment: Cross-Country Evidence From Macro Data, Lois Onigbinde May 2018

The Impacts Of Natural Disasters On Educational Attainment: Cross-Country Evidence From Macro Data, Lois Onigbinde

Master's Theses

Do natural disasters impact educational attainment? Education as a paramount factor of economic development suffers from the uncontrollable effects of these increasing events from storms to floods, earthquakes to wildfires. Globally, educational resources are destroyed, directly and indirectly, students and teachers are displaced or killed, parents’ income is affected because of natural disasters. Investments in human capital for rich- and low-income countries are exposed to the uneven impact of natural disasters that adjusts household and country-level decisions, leaving them to short and long-run losses. Exploring the influence of natural disasters on secondary school attainment across a sample of 85 countries ...


The Fisheries Crisis And Its People: An Econometric Sustainable Livelihoods Application For Low-Income Artisanal Fishers In Sierra Leone, Nathan Brock May 2018

The Fisheries Crisis And Its People: An Econometric Sustainable Livelihoods Application For Low-Income Artisanal Fishers In Sierra Leone, Nathan Brock

Honors Theses AY 17/18

The global fisheries crisis is a topic of significant research across fields, including economics. It is evident that the current global fish stocks are declining, which has motivated environmental protection measures to be implemented. Low-income countries and their inhabitants are unevenly harmed by these environmental impacts, as artisanal fishing villages are dependent on fisheries for subsistence and livelihood. This case is particularly true in Sierra Leone, where poverty is evident, artisanal fishing communities exist, and dependence on fisheries is high (Kassam, et al. 2017; Teh, et al. 2016). Policy makers in these countries are faced with the challenge of mitigating ...


Preemption Through Non-Disclosure, Jing Li, Tingjung Liu, Ran Zhao May 2018

Preemption Through Non-Disclosure, Jing Li, Tingjung Liu, Ran Zhao

Accounting Faculty Articles and Research

An informed bidder can voluntarily disclose his private information on the value of an auctioned asset to rival bidders and the seller. We examine the informed bidder's optimal disclosure policy and the resulting consequences on the seller's payoff. We show that the informed bidder strategically withholds information to create a winner's curse for rival bidders, which has a preemptive effect on the rival's participation. Taking into account this strategic response, we show that increased competition among bidders may reduce the seller's payoff, a surprising result that is contrary to the common belief that bidder competition ...


Swimming For More Than Gold: How Swimming Participation And Success In Elite International Swimming Events Can Decrease Drowning Rates Across The World, Joshua R. Cottle May 2018

Swimming For More Than Gold: How Swimming Participation And Success In Elite International Swimming Events Can Decrease Drowning Rates Across The World, Joshua R. Cottle

Undergraduate Economic Review

International swimming provides an opportunity for thousands of swimmers to compete at the highest level of the sport. In this paper, I argue that participation and success in these events can influence drowning rates across the world. My analysis suggests that one of the most notable negative influences on drowning rates is swimming participation in countries that have the smallest roster sizes and the lowest average income levels. My analysis shows that swimming success in the Olympics has a significant positive effect on drowning rates in countries in the middle-income brackets.


Mapping Wyoming's Future: A Gis-Based Mapping Analysis Of Wyoming's Industry Assets, Sam Mallory May 2018

Mapping Wyoming's Future: A Gis-Based Mapping Analysis Of Wyoming's Industry Assets, Sam Mallory

Honors Theses AY 17/18

To support economic planning and development in Wyoming, the University of Wyoming (UW), the Wyoming Geographic Information Science Center (WyGISC) and the Wyoming Business Council (WBC) developed a series of over 150 maps intended to communicate various industry assets available in the state to leverage growth and development of associated industry sectors. This paper discusses the context and objectives of this project, the geographic information systems methodology developed for the creation of these maps, a critique of the maps, as well as a demonstration of their intended use.


Transitions From Higher Education To The Labor Market: Merit Aid, Time To Degree Signals, And Major Choice, Christopher P. Erwin May 2018

Transitions From Higher Education To The Labor Market: Merit Aid, Time To Degree Signals, And Major Choice, Christopher P. Erwin

Economics ETDs

Human capital production is central to economic wellbeing from a national perspective: it improves productivity, spurs technological innovation, and promotes sustainable economic growth over time. Equally important, investments in human capital are central to economic wellbeing at the individual level. College graduates tend to earn more money, are more employable, are better able to manage economic downturns, and have even been shown to have better health. Moreover, for many students, the college experience is an important lesson in living independently, developing social and professional networks, and generally taking on more responsibility in one’s life. It has been said that ...


Karl Marx And Liberation Theology: Dialectical Materialism And Christian Spirituality In, Against, And Beyond Contemporary Capitalism, Peter Mclaren, Petar Jandrić May 2018

Karl Marx And Liberation Theology: Dialectical Materialism And Christian Spirituality In, Against, And Beyond Contemporary Capitalism, Peter Mclaren, Petar Jandrić

Education Faculty Articles and Research

This paper explores convergences and discrepancies between liberation theology and the works of Karl Marx through the dialogue between one of the key contemporary proponents of liberation theology, Peter McLaren, and the agnostic scholar in critical pedagogy, Petar Jandrić. The paper briefly outlines liberation theology and its main convergences with the works of Karl Marx. Exposing striking similarities between the two traditions in denouncing the false God of money, it explores differences in their views towards individualism and collectivism. It rejects shallow rhetorical homologies between Marx and the Bible often found in liberation theology, and suggests a change of focus ...


Cryptocurrencies As An Alternative To Fiat Monetary Systems, David A. Georgeson May 2018

Cryptocurrencies As An Alternative To Fiat Monetary Systems, David A. Georgeson

Applied Economics Theses

The recent popularity of cryptocurrencies is largely associated with a particular application referred to as Bitcoin. Cryptocurrency has a mix of properties that make it difficult to examine. These properties consist of being infinitely divisible, durable, transferable, fungible and can be controlled to be artificially scarce. Further, cryptocurrencies can act as a means of payment, a medium of exchange, a store of value, and a unit of account. This thesis will analyze the technical features underlying cryptocurrencies and find out whether or not they can function as an alternative to fiat money. Since Bitcoin is the most commonly understood application ...


Human Trafficking In The Wake Of Natural Disasters: Is The United States Any Different Than Third World Countries?, Samantha Stout May 2018

Human Trafficking In The Wake Of Natural Disasters: Is The United States Any Different Than Third World Countries?, Samantha Stout

Accounting Undergraduate Honors Theses

This research compares the impacts of devastating natural disasters on levels of human trafficking in developed countries to the impacts experienced in third world countries. The two disasters selected for this study were Hurricane Isaac in Louisiana and the Indian Ocean earthquake and tsunami in Indonesia. Factors selected to measure the impacts of the natural disaster include income level, homelessness, and unemployment rates.

Human trafficking is a crime that touches nearly every country around the world. It is known that human trafficking levels are impacted by factors including poverty levels of regions, political unrest, and even natural disasters. There is ...


Impulsive Behavior In Competition: Testing Theories Of Overbidding In Rent-Seeking Contests, Roman M. Sheremeta Apr 2018

Impulsive Behavior In Competition: Testing Theories Of Overbidding In Rent-Seeking Contests, Roman M. Sheremeta

ESI Working Papers

Contests are commonly used in the workplace to motivate workers, determine promotion, and assign bonuses. Although contests can be very effective at eliciting high effort, they can also lead to inefficient effort expenditure (overbidding). Researchers have proposed various theories to explain overbidding in contents, including mistakes, systematic biases, the utility of winning, and relative payoff maximization. Using an eight-part experiment, we test and find significant support for the existing theories. Also, we discover some new explanations based on cognitive ability and impulsive behavior. Out of all explanations examined, we find that impulsivity is the most important factor explaining overbidding in ...


Cooler Heads Prevail: An Experimental Study On The “Cooling” Effect Of The Strategy Method On Agent Resentment, Jing L. Davis Apr 2018

Cooler Heads Prevail: An Experimental Study On The “Cooling” Effect Of The Strategy Method On Agent Resentment, Jing L. Davis

Economics Faculty Articles and Research

This study investigates whether agents’ resentment of controls in a gift-exchange game can be effectively mitigated using the strategy method where agents’ effort choices are elicited contingent on all possible contract choices by principals. The results suggest that allowing agents to contemplate contract choices prospectively results in less resentment and that agents exert higher effort than without this “cooling” process.


Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion Mar 2018

Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion

Economics Working Papers

This study investigates the effects of dynamic-price retail contracting on end-to-end power system operations. Performance is evaluated by means of carefully defined metrics for system stability, market efficiency, and market participant welfare. The study is carried out for an Integrated Retail and Wholesale (IRW) Test Case for which households have smart (price-responsive) air-conditioning (A/C) systems. A simplified version of the IRW Test Case with a directly postulated linear household demand curve is first used to derive, analytically, a set of necessary and sufficient conditions for system stability under dynamic-price retail contracting. A key finding is that dynamicprice retail contracts ...


Mutual Economic Incentives For Urban Tree Canopy Restoration, Paul E. Thompson Jr. Mar 2018

Mutual Economic Incentives For Urban Tree Canopy Restoration, Paul E. Thompson Jr.

Undergraduate Economic Review

Potential alignment of economic incentives for tree canopy restoration are modeled using data from a 2015 Louisville Metro Government (KY) Urban Tree Canopy Assessment. The study revealed marked declines in urban canopy coverage from 2004-2012; accelerating losses are forecast through 2050. Tree coverage conveys substantial financial benefit to private property owners, primarily through increased property valuations. Benefits to local government may be derived from the corresponding increase in property tax assessments. A comprehensive cost-benefit analysis demonstrates the economic efficiency of tree purchase vouchers (issued by government to private property owners) as a potential contributing solution to urban canopy loss.


Entrepreneurship Education Empowers Youth To Change Their Lives, Marianna Brashear, Jason Riddle Mar 2018

Entrepreneurship Education Empowers Youth To Change Their Lives, Marianna Brashear, Jason Riddle

National Youth-At-Risk Conference Savannah

The Foundation for Economic Education (FEE) aims at equipping Title 1 schools with free, hands-on, engaging materials that any teacher can facilitate either individually or in a classroom setting with no background in entrepreneurship necessary. These versatile lessons, courses, and workshops teach the entrepreneurial mindset optimizing opportunities for grades 8-12 students no matter which life/career path they choose.