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Targeted Advertising, Platform Competition And Privacy, Henk L.M. Kox, Bas Straathof, Gijsbert Zwart 2017 KVL Economic Policy Research

Targeted Advertising, Platform Competition And Privacy, Henk L.M. Kox, Bas Straathof, Gijsbert Zwart

Henk LM Kox

Targeted advertising can benefit consumers through lower prices for access to websites. Yet, if consumers dislike that websites collect their personal information, their welfare may go down. We study competition for consumers between websites that can show targeted advertisements. We find that more targeting increases competition and reduces the websites’ profits, but yet in equilibrium websites choose maximum targeting as they cannot credibly commit to low targeting. A privacy protection policy can be beneficial for both consumers and websites. If consumers are heterogeneous in their concerns for privacy, a policy that allows choice between two levels of privacy will be ...


Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), PHILIP E. GRAVES 2017 University of Colorado at Boulder

Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), Philip E. Graves

PHILIP E GRAVES

As with other public goods lacking strong special interest support, global climate policy suffers from two serious
theoretical flaws. The first is failure to endogenize the labor-leisure decision when conducting benefit-cost analysis.
Recognition that income generated will not remain the same pre-and-post policy results in downward bias
in benefit estimation. Much more importantly, there will generally be free riding in input markets in addition to
the well-known output demand revelation problem. Since even households with very high marginal values cannot
individually increment public goods, too little income will be generated and too much of the income that is
generated will ...


Effects Of The Great Recession On American Retirement Funding, Tanner G. Hamil 2017 University of Tennessee, Knoxville

Effects Of The Great Recession On American Retirement Funding, Tanner G. Hamil

University of Tennessee Honors Thesis Projects

No abstract provided.


Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos 2017 Ursinus College

Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos

Business and Economics Faculty Publications

Illinois had a dismal free banking experience, with over 80% of its free banks failing by the start of the Civil War. Researchers agree that a dramatic change in bond prices was the catalyst, and some have shown that the riskiest banks, ex ante, were the most likely to fail. This study examines how Illinois free banks adjusted their portfolios in the face of increased political and financial risks prior to Abraham Lincoln’s election as president. Lincoln’s nomination in May 1860 and the Democratic Party schism in June 1860 raised the likelihood of secession and the potential for ...


The Design Of An Instrument To Assess Clinical Laboratories Efficacy Post Implementation Of The Patient Protection Affordable Care Act, Harry McDonald Jr. 2017 University of Southern Mississippi

The Design Of An Instrument To Assess Clinical Laboratories Efficacy Post Implementation Of The Patient Protection Affordable Care Act, Harry Mcdonald Jr.

Dissertations

The healthcare system in the United States has undergone substantial changes in support of the Patient Protection and Affordable Care Act (PPACA). On March 23, 2010, the implementation of the new healthcare law brought universal healthcare access to all Americans, while attempting to increase quality and decrease medical costs. The new law promotes more of a quality-focused, outcome-based model rather than a pay-for-fee service model; thus, moving the paradigm from infrequent to preemptive healthcare. The PPACA postulates as the only way to achieve cost savings while increasing quality and access. Never before has there been such an extensive change to ...


Essays On The Economics Of Energy And Transportation, Ryan N. Barnes 2017 Utah State University

Essays On The Economics Of Energy And Transportation, Ryan N. Barnes

All Graduate Theses and Dissertations

The Washington State Department of Transportation (WSDOT) is responsible for planning, operating, and maintaining a highway network consisting of over 18,500 lane-miles of highway. In recent years the growing uncertainty about oil prices and availability has made long-range transportation planning even more challenging. Rather than relying on trend extrapolation, this study uses market mechanisms to shed light on key long-range transportation planning assumptions. In particular, this study was conducted to help WSDOT assess the likelihood that natural gas will substitute for petroleum fuels and estimate the impacts that changes in fuel prices will have on natural gas vehicle demand ...


Implementing Propensity Score Matching With Network Data: The Effect Of Gatt On Bilateral Trade, Luca De Benedictis, Bruno Arpino, Alessandra Mattei 2017 Universitat Pompeu Fabra

Implementing Propensity Score Matching With Network Data: The Effect Of Gatt On Bilateral Trade, Luca De Benedictis, Bruno Arpino, Alessandra Mattei

Luca De Benedictis

Motivated by the evaluation of the causal effect of the General Agreement on Tariffs and Trade on bilateral international trade flows, we investigate the role of network structure in propensity score matching under the assumption of strong ignorability. We study the sensitivity of causal inference with respect to the presence of characteristics of the network in the set of confounders conditional on which strong ignorability is assumed to hold. We find that estimates of the average causal effect are highly sensitive to the presence of node-level network statistics in the set of confounders. Therefore, we argue that estimates may suffer ...


In Transition? The Struggle For Socio-Economic Justice In South Africa, Vinodh Jaichand 2017 Notre Dame Law School

In Transition? The Struggle For Socio-Economic Justice In South Africa, Vinodh Jaichand

Notre Dame Journal of International & Comparative Law

Does the post-transitional justice phase of twenty-two years after the advent of freedom in South Africa provide an appropriate time to reflect on the potential realized or lost? It is argued that the planned and sustained implementation of socioeconomic rights as part of transformation is essential. Even constitutional protections of such rights yield slow progress through legal precedents and therefore may result in an incomplete transition.


No More Starving Artists: Why The Art Market Needs A Universal Artist Resale Royalty Right, Allison Schten 2017 Notre Dame Law School

No More Starving Artists: Why The Art Market Needs A Universal Artist Resale Royalty Right, Allison Schten

Notre Dame Journal of International & Comparative Law

Artists often struggle to make a living because they see profits only from the first sales of their work. Unlike other creative arts, where the creator can earn a living via sales of books or music, an artist’s product is valuable for its singularity. Droit de suite, or the artist resale royalty right, allows artists to recover a percentage of profits from resales of their work. Implementing resale royalty schemes has been a subject of controversy worldwide due to fears that the art market will relocate to areas without such additional transaction costs—but broad-scale, international implementation of droit ...


Economic Evaluation Of Governor Branstad’S Water Quality Initiative, Dermot J. Hayes, Catherine L. Kling, John D. Lawrence 2017 Iowa State University

Economic Evaluation Of Governor Branstad’S Water Quality Initiative, Dermot J. Hayes, Catherine L. Kling, John D. Lawrence

Catherine Kling

Governor Branstad has proposed an initiative that would significantly increase state spending on water quality. This document examines the economic costs and benefits of such a proposal. As with previous work on this topic, this economic evaluation uses the state’s Iowa Nutrient Reduction Strategy to measure costs and research results on water quality benefits from Iowa State University’s Center for Agricultural and Rural Development. In doing an economic evaluation of this type, the reader should understand these important points: 1. A calculation of Iowa Nutrient Reduction Strategy costs with current strategies can be determined. The costs in labor ...


Putting The Heart Back In The Heartland: Regional Land Bank Initiatives For Sustainable Rural Economies, Ron Johnson 2017 University of Arkansas, Fayetteville

Putting The Heart Back In The Heartland: Regional Land Bank Initiatives For Sustainable Rural Economies, Ron Johnson

Arkansas Law Review

No abstract provided.


Suppliers, Investors, And Equity Market Liberalizations, Martin Strieborny 2017 Lund University

Suppliers, Investors, And Equity Market Liberalizations, Martin Strieborny

Martin Strieborny

Allowing foreign investors to acquire equity stakes in domestic firms stimulates the real economy by promoting frictionless relationships between buyers and suppliers of intermediate goods. I combine insights from research on financial liberalization and relationship-specific investment to derive this hypothesis and then use a difference-in-difference empirical framework to test it. Results from panel-data and event-study estimations confirm that equity market liberalizations boost output growth particularly in suppliers-dependent industries that require a high share of specialized inputs in their production process. Financial openness can thus facilitate smooth interactions between firms and an important corporate stakeholder - suppliers of crucial production inputs.


St. Cloud Area Quarterly Business Report, King Banaian, Richard A. MacDonald 2017 St. Cloud State University

St. Cloud Area Quarterly Business Report, King Banaian, Richard A. Macdonald

St. Cloud Area Quarterly Business Report

St. Cloud-area businesses report a strong future outlook as the area continues to experience solid economic performance. Revised payroll data indicates St. Cloud metropolitan area employment grew at a 1.3 percent annual rate over the year ending January 2017. This is more rapid than the average annual job growth rate of 0.8 percentage point observed since 2002. The construction sector led the way with double-digit growth, followed by strong gains in the wholesale trade and educational/health sectors. The leisure/hospitality and transportation/warehousing/utilities sectors were a drag on the overall employment numbers. The leading economic indicator ...


Lumpy Cost, Lester G. Telser 2017 University of Chicago

Lumpy Cost, Lester G. Telser

Lester G Telser

A lumpy cost function is a step-wise increasing but not a continuous function of output.  It is an accurate description of cost conditions in many industries especially air travel, generating electric power, auto manufacturing and software. This essay has diagrams illustrating the problem and solutions.


Willingness To Pay For Clear Lake Cleanup, Christopher D. Azevedo, Joseph A. Herriges Sr., Catherine L. Kling 2017 Iowa State University

Willingness To Pay For Clear Lake Cleanup, Christopher D. Azevedo, Joseph A. Herriges Sr., Catherine L. Kling

Catherine Kling

The water quality in Iowa’s lakes has been a hot topic lately. Concerns about the water quality in many of the state’s lakes have brought increased attention to the value of the lakes as a recreational resource. One lake that has experienced recent water quality problems, as well as the accompanying publicity, is Clear Lake, located in Cerro Gordo County.


Valuing Water Quality In Midwestern Lake Ecosystems, Kevin J. Egan, Joseph A. Herriges Sr., Catherine L. Kling, John A. Downing 2017 Iowa State University

Valuing Water Quality In Midwestern Lake Ecosystems, Kevin J. Egan, Joseph A. Herriges Sr., Catherine L. Kling, John A. Downing

Catherine Kling

As increased attention is focused on the issue of water quality in the state of Iowa, policymakers must grapple with the pressures of balancing federal water quality requirements, tight conservation budgets, and citizen concern for environmental preservation and restoration of Iowa’s water resources. Efforts to improve water quality typically entail significant costs, either in the form of state resources to fund cleanup efforts or private costs associated with altering land uses, farming practices, municipal treatment facility expansions, or other investments.


Research Needs And Challenges In The Few System: Coupling Economic Models With Agronomic, Hydrologic, And Bioenergy Models For Sustainable Food, Energy, And Water Systems, Catherine L. Kling, Raymond W. Arritt, Gray Calhoun, David A. Keiser, John M. Antle, Jeffery G. Arnold, Miguel Carriquiry, Indrajeet Chaubey, Peter Christensen, Baskar Ganapathysubramanian, Philip Gassman, William Gutowski, Thomas W. Hertel, Gerritt Hoogenboom, Elena Irwin, Madhu Khanna, Pierre Mérel, Daniel J. Phaneuf, Andrew Plantinga, Stephen Polasky, Paul Preckel, Sergey Rabotyagov, Ivan Rudik, Silvia Secchi, Aaron Smith, Andrew VanLoocke, Calvin Wolter, Jinhua Zhao, Wendong Zhang 2017 Iowa State University

Research Needs And Challenges In The Few System: Coupling Economic Models With Agronomic, Hydrologic, And Bioenergy Models For Sustainable Food, Energy, And Water Systems, Catherine L. Kling, Raymond W. Arritt, Gray Calhoun, David A. Keiser, John M. Antle, Jeffery G. Arnold, Miguel Carriquiry, Indrajeet Chaubey, Peter Christensen, Baskar Ganapathysubramanian, Philip Gassman, William Gutowski, Thomas W. Hertel, Gerritt Hoogenboom, Elena Irwin, Madhu Khanna, Pierre Mérel, Daniel J. Phaneuf, Andrew Plantinga, Stephen Polasky, Paul Preckel, Sergey Rabotyagov, Ivan Rudik, Silvia Secchi, Aaron Smith, Andrew Vanloocke, Calvin Wolter, Jinhua Zhao, Wendong Zhang

Catherine Kling

On October 12–13, a workshop funded by the National Science Foundation was held at Iowa State University in Ames, Iowa with a goal of identifying research needs related to coupled economic and biophysical models within the FEW system. Approximately 80 people attended the workshop with about half representing the social sciences (primarily economics) and the rest from the physical and natural sciences. The focus and attendees were chosen so that findings would be particularly relevant to SBE research needs while taking into account the critical connectivity needed between social sciences and other disciplines. We have identified several major gaps ...


The Optimality Of Using Marginal Land For Bioenergy Crops: Tradeoffs Between Food, Fuel, And Environmental Services, Adriana M. Valcu-Lisman, Catherine L. Kling, Philip W. Gassman 2017 Iowa State University

The Optimality Of Using Marginal Land For Bioenergy Crops: Tradeoffs Between Food, Fuel, And Environmental Services, Adriana M. Valcu-Lisman, Catherine L. Kling, Philip W. Gassman

Catherine Kling

We assess empirically how agricultural lands should be used to produce the highest valued outputs, which include food, energy, and environmental goods and services. We explore efficiency tradeoffs associated with allocating land between food and bioenergy and use a set of market prices and nonmarket environmental values to value the outputs produced by those crops. We also examine the degree to which using marginal land for energy crops is an approximately optimal rule. Our empirical results for an agricultural watershed in Iowa show that planting energy crops on marginal land is not likely to yield the highest valued output.


Testing The Consistency Of Nested Logit Models With Utility Maximization, Joseph A. Herriges, Catherine L. Kling 2017 Iowa State University

Testing The Consistency Of Nested Logit Models With Utility Maximization, Joseph A. Herriges, Catherine L. Kling

Catherine Kling

The Nested Multinomial Logit (NMNL) model is used extensively in modeling consumer choices among discrete alternatives when the number of alternatives is large. Unfortunately, applied researchers often find that estimated NMNL models fail to meet the Daly-ZacharyMcFadden (DZM) sufficient conditions for consistency with stochastic utility maximization. Borsch-Supan (1990) provides a relaxed set of conditions to test for consistency. While these conditions are increasingly cited, they are seldom tested. This paper corrects and extends BorschSupan's Theorem 2, providing simple necessary conditions on first, second, and third derivatives of choice probabilities and a graph oft he bounds they place on dissimilarity ...


How Much Is Clean Water Worth? Valuing Water Quality Improvement Using A Meta Analysis, Jiaqi Ge, Catherine L. Kling, Joseph A. Herriges 2017 Iowa State University

How Much Is Clean Water Worth? Valuing Water Quality Improvement Using A Meta Analysis, Jiaqi Ge, Catherine L. Kling, Joseph A. Herriges

Catherine Kling

This paper has developed and estimated a valuation model for water quality improvement. After reviewing more than 100 studies, we set up a data set that has 332 valuations from 38 distinct studies. Based on the data set, we estimate a linear valuation model, which can then be used to predict the mean willingness to pay by households living in a given region for water quality improvement at a given site. For instance, the willingness to pay by a typical household living in the state of Iowa for a water quality increase from 40 to 50 (out of 100) at ...


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