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Save More Later? The Effect Of The Option To Choose Delayed Savings Rate Increases On Retirement Wealth, John Beshears, Hengchen Dai, Katherine L. Milkman, Shlomo Benartzi 2019 Harvard University and NBER

Save More Later? The Effect Of The Option To Choose Delayed Savings Rate Increases On Retirement Wealth, John Beshears, Hengchen Dai, Katherine L. Milkman, Shlomo Benartzi

Wharton Pension Research Council Working Papers

Prior research in economics and psychology has documented that individuals exhibit time-inconsistent preferences when faced with the opportunity to take an action that involves immediate costs in return for future benefits – the notion of implementing such an action now is unappealing, but the notion of implementing the same action later is attractive. Because increasing contributions to a retirement savings plan requires a reduction in current consumption (an immediate cost) in order to increase consumption in old age (a future benefit), individuals may be more likely to agree to a contribution rate increase if they have the option to have the ...


A Systematic Investigation Of The Effect Of Wildfire Events And Risks On Property Values, Qiuhua Ma 2019 University of New Mexico

A Systematic Investigation Of The Effect Of Wildfire Events And Risks On Property Values, Qiuhua Ma

Economics ETDs

Wildfires frequency and severity have been increasing in the western United States over the past few decades. This rising threat is caused by the accumulated fuel load, climate change, and the rapid expansion of housing in the wildland-urban interface (WUI). Since most mitigation and suppression costs are borne by taxpayers, policy analysts seek both market (e.g., protection and suppression cost) and non-market cost estimates of wildfires. As one tool, the hedonic pricing method is commonly used to investigate wildfire effects on property values. There are a variety of hedonic studies investigating wildfire, with mixed and/or inconsistent results. Model ...


Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec 2019 Stanford University

Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec

Katrina Kosec

We investigate the classic question of how the provision of a local publicly-provided good--air quality--varies with the degree of decentralization of policymaking. Exploiting exogenous variation in the natural topography of the United States to instrument for the number of local government jurisdictions in a metropolitan area, we show that areas with more jurisdictions have significantly lower air quality, and significantly higher concentrations of the toxic air pollutants most closely associated with cancer and non-cancer health risks. Moreover, we estimate that this increase in pollution lowers housing values by at least 3%. By contrast, local drinking water quality--a publicly-provided good not ...


The Sue-And-Settle Phenomenon: Its Impact On The Law, Agency, And Society, Katie L. Colton 2019 Utah State University

The Sue-And-Settle Phenomenon: Its Impact On The Law, Agency, And Society, Katie L. Colton

All Graduate Theses and Dissertations

Sue-and-settle is the name applied to a federal agency’s use of litigation to create policy outside of the normal regulatory process. This paper discusses the impact that the sue-and-settle policy has had on Congress, the judiciary, and the Environmental Protection Agency. Specifically, this paper will discuss the issues caused by the perception of collusion within the sue-and-settle policy. First, this paper examines whether a relationship occurs between the litigants. The paper then discusses whether the relationship between the litigants in sue-and-settle cases tends to be collusive or not. The second part of the paper examines how Congress, the Environmental ...


The Value Of Farmland: Mapping Assessor Data To Understand Land Use Change, Lyndi Perry 2019 Utah State University

The Value Of Farmland: Mapping Assessor Data To Understand Land Use Change, Lyndi Perry

All Graduate Theses and Dissertations

Ideas developed by regional economists have potential applications within the urban planning field. One potential application is toward conserving farmland, and within this thesis this topic is examined for the study area of Utah County, Utah. Using assessor data, a land value map is created and further used to develop a regional economic model and spatial models that were analyzed for patterns of land use change.

Findings show that representing land value as continuous surface maps is a useful approach. The maps reveal that Utah County has densified as its population increased while farmland loss still occurred in agriculturally-important areas ...


Untangling The Economic And Social Impediments To Producer Adoption Of Organic Wheat, Donya L. Ralph-Quarnstrom 2019 Utah State University

Untangling The Economic And Social Impediments To Producer Adoption Of Organic Wheat, Donya L. Ralph-Quarnstrom

All Graduate Theses and Dissertations

Consumer demand for organic products has shown double-digit growth in recent years encouraging the development of a wider range of goods (Greene, 2017). Americans with an annual household income under $30,000 actively purchase organic foods at nearly the same rate as households with over $75,000 in annual incomes, 42% versus 49% (Greene et al., 2017). Previous research observed the adoption of organic farming practices on a combination of different grains, fruits and vegetables, meat, and dairy products from across the globe. However, this is the first study to examine the adoption of organic wheat in the Western U ...


Why The Economics Profession Must Actively Participate In The Privacy Protection Debate, John M. Abowd, Ian M. Schmutte, William Sexton, Lars Vilhuber 2019 U.S. Census Bureau

Why The Economics Profession Must Actively Participate In The Privacy Protection Debate, John M. Abowd, Ian M. Schmutte, William Sexton, Lars Vilhuber

Labor Dynamics Institute

When Google or the U.S. Census Bureau publish detailed statistics on browsing habits or neighborhood characteristics, some privacy is lost for everybody while supplying public information. To date, economists have not focused on the privacy loss inherent in data publication. In their stead, these issues have been advanced almost exclusively by computer scientists who are primarily interested in technical problems associated with protecting privacy. Economists should join the discussion, first, to determine where to balance privacy protection against data quality; a social choice problem. Furthermore, economists must ensure new privacy models preserve the validity of public data for economic ...


The Fairness Of Fair Trade: An Analysis Of The Economics Of Fair Trade, Duke C. Schillaci, Julia R. Norgaard 2019 Pepperdine University

The Fairness Of Fair Trade: An Analysis Of The Economics Of Fair Trade, Duke C. Schillaci, Julia R. Norgaard

Seaver College Research And Scholarly Achievement Symposium

In 2015, a study done by Cone Communications found that millennials are "universally more engaged in corporate social responsibility." In fact, 87% of millennials are willing to purchase a product with social or environmental benefits. Enter, the fair trade label. The fair trade label, which is attached to products which meet the previously mentioned consumer demands, has emerged over the last three decades. Products like organic produce, textiles, and natural commodities have entered into global retailers and supermarkets through these non-traditional distribution channels, supported by increased consumption as well as changing consumer preferences. In order to uncover the underlying economic ...


Sleep, Salary, And Successful Occupational Negotiation: Evidence From A Labor Market Survey, Jerrick Tram, Philip Wesley Routon 2019 Georgia Gwinnett College

Sleep, Salary, And Successful Occupational Negotiation: Evidence From A Labor Market Survey, Jerrick Tram, Philip Wesley Routon

Undergraduate Economic Review

We examine the relationship between sleep and wages and then ask a follow-up question: might occupational negotiation be one intermediate factor? That is, are workers of a certain sleep pattern more likely to successfully (re)negotiate the terms of their employment? Popular press, non-economic research articles, self-help guides, and websites often purport relationships between sleep patterns and one's ability to successfully negotiate. Results point to sleeping hours having a statistically significant, positive, and strong relationship with both salary and successful negotiation, though the latter relationship is only apparent for workers in about their 4th or 5th year on the ...


Towards An Intellectual History Of Evolutionary Economics: Competition And Struggle Versus Cooperation And Mutual Aid, John B. Hall, Svetlana Kirdina-Chandler 2019 Portland State University

Towards An Intellectual History Of Evolutionary Economics: Competition And Struggle Versus Cooperation And Mutual Aid, John B. Hall, Svetlana Kirdina-Chandler

John Hall

Our inquiry considers the origins of Evolutionary Economics by reintroducing a debate that took place in Russia in the 19th and early 20th century. Responses to Charles Darwin’s The origin of Species are considered, especially critiques stressing Darwin’s emphasis upon competition and struggle in natural selection, that can be traced directly to Thomas Robert Malthus. Considering challenging contributions made by several Russian scholars, we place special emphasis upon Peter Kropotkin’s focus on cooperation and “mutual aid” in natural selection and evolution. We then speculate upon the commonality found in the evolutionary views advanced by Kropotkin and his ...


Portable Wood Burning Camp Stove: United States Patent, John B. Hall Professor 2019 Economics

Portable Wood Burning Camp Stove: United States Patent, John B. Hall Professor

John Hall

Portable camp stove, wherein solid-fuel, especially of dried tree and bush twigs, is burned upon a supporting fuel grate positioned at bottom of a combustion-chamber. Solid-fuel is added directly into the combustion-chamber during operation through alligned stoke holes in a chimney and a vented-fire-ring, and then dropped vertically downward through an exhaust vent. Air for primary combustion is drawn into the combustion-chamber through a ring of intake apertures adjacent to and above the stove's bottom plate. Stove's outer wall is spaced apart from the wall of the combustion-chamber and the two walls are joined together and sealed by ...


European Welfare Regimes: Political Orientations Versus Poverty, Kosta Josifidis, John B. Hall Professor, Novica Supic, Olgica Ivancev 2019 University of Novi Sad

European Welfare Regimes: Political Orientations Versus Poverty, Kosta Josifidis, John B. Hall Professor, Novica Supic, Olgica Ivancev

John Hall

This inquiry analyzes how political orientations shape welfare states and labour market institutions when seeking to reduce poverty. In order to identify effects of these two key variables, we conduct a panel regression analysis that includes two poverty measures: poverty rates before and after social spending. This inquiry considers 14 EU countries, and in the period from 1995 to 2008, which are grouped according to welfare state regimes. We consider Social Democratic, Corporatist, Mediterranean and Liberal welfare state regimes. Panel regression results indicate that political orientation engenders no significant statistically measurable effects on poverty rates before social spending. Effects register ...


Cooperation Versus Competition In Works Of Russian Evolutionists, Svetlana G. Kirdina-Chandler, John B. Hall 2019 Russian Academy of Sciences

Cooperation Versus Competition In Works Of Russian Evolutionists, Svetlana G. Kirdina-Chandler, John B. Hall

John Hall

The article is in Russian.

One of the fundamental assumptions of mainstream economics is that competing agents maximising individual utility comprise the near totality of economic activity. However, this assumption attracts criticism because there is little experimental evidence to suggest that the competitive model is the only form of economic activity. Therefore, searches for other plausible theoretical foundations for economic activity, such as cooperation and mutual aid, are still relevant. In this connection our inquiry reintroduces a debate which occurred in Russia in the 19th and early 20thcenturies. Responses to Charles Darwin’s “The Origin of Species by Means of ...


Eastern Migrations Vs Western Welfare States - (Un)Biased Fears, Kosta Josifidis, John B. Hall Professor, Valérie Berenger 2019 University of Novi Sad

Eastern Migrations Vs Western Welfare States - (Un)Biased Fears, Kosta Josifidis, John B. Hall Professor, Valérie Berenger

John Hall

This inquiry considers some effects of migration on the labour markets and the welfare systems found in the EU-15, and from the perspectives of sustainability of the current welfare state regimes. Our inquiry aims to determine whether and to what extent different approaches in regulation of migration flows between the new and old member states are compatible with related economic and demographic findings. Within this context, our research considers regulations affecting migration flows. Our findings suggest that some effects of migration from the EU8+2 on the labour markets and social protection systems found in the EU-15, both with respect ...


Behavioral Impediments To Valuing Annuities: Complexity And Choice Bracketing, Jeffrey R. Brown, Arie Kapteyn, Erzo Luttmer, Olivia S. Mitchell, Anya Samek 2019 University of Illinois at Urbana-Champaign

Behavioral Impediments To Valuing Annuities: Complexity And Choice Bracketing, Jeffrey R. Brown, Arie Kapteyn, Erzo Luttmer, Olivia S. Mitchell, Anya Samek

Wharton Pension Research Council Working Papers

This paper examines two behavioral factors that diminish people’s ability to value a lifetime income stream or annuity, drawing on a survey of about 4,000 adults in a U.S. nationally representative sample. By experimentally varying the degree of complexity, we provide the first causal evidence that increasing the complexity of the annuity choice reduces respondents’ ability to value the annuity, measured by the difference between the sell and buy values people assign to the annuity. We also find that people’s ability to value an annuity increases when we experimentally induce them to think jointly about the ...


Salience And Social Choice, Mark Schneider, Jonathan W. Leland 2019 Chapman University

Salience And Social Choice, Mark Schneider, Jonathan W. Leland

ESI Working Papers

The axioms of expected utility and discounted utility theory have been tested extensively. In contrast, the axioms of social welfare functions have only been tested in a few questionnaire studies involving choices between hypothetical income distributions. In this note, we conduct a controlled experiment with 100 subjects in the role of social planners that tests five fundamental properties of social welfare functions to provide a basic test of cardinal social choice theory. We find that four properties of the standard social welfare functions tested are systematically violated, producing an Allais paradox, a common ratio effect, a framing effect, and a ...


Children Of The Crisis: Farm Youth In Troubled Times, Pamela Riney-Kehrberg 2019 Iowa State University

Children Of The Crisis: Farm Youth In Troubled Times, Pamela Riney-Kehrberg

Pamela Riney-Kehrberg

The farm crisis of the 1980s was one of the defining American moments of the late twentieth century. The Midwest’s farmers, long revered as the protectors of America’s agrarian heritage, saw economic reversals of a magnitude unseen since the Great Depression. Many had expanded their operations in the 1970s on the basis of rising land prices, only to see the value of their farms plummet in the early days of the 1980s. Farm income fell significantly, while the number of farm foreclosures skyrocketed. Families began to show signs of stress, as rates of spousal abuse, clinical depression and ...


"The Great Debate" 2019 - Brookings V. Unlv Debate Team, Brookings Mountain West, University of Nevada, Las Vegas 2019 University of Nevada, Las Vegas

"The Great Debate" 2019 - Brookings V. Unlv Debate Team, Brookings Mountain West, University Of Nevada, Las Vegas

Lectures/Events (BMW)

Brookings Mountain West, in partnership with the UNLV Debate Team, was proud to host the inaugural UNLV - Brookings Institution event, “The Great Debate.” Representatives from the nationally ranked UNLV Debate Team engaged colleagues from the Brookings Institution in a battle of ideas and policy positions destined to be remembered as one of the great intellectual forums of the 21st century. Featured speakers participated in a modified format of intercollegiate debate rules that allowed teams and individual members the opportunity to craft their arguments and responses in an open and respectful exchange of information to persuade, inform, and entertain audience members ...


Fossil-Fueled Discourse, Henry Walter 2019 University of Kansas

Fossil-Fueled Discourse, Henry Walter

Crossing Borders: A Multidisciplinary Journal of Undergraduate Scholarship

As industrial civilization confronts the realities of devastating global climate change and the local environmental catastrophes precipitated by coal, oil, and natural gas extraction, this paper moves away from mainstream analyses of demand-side choices and instead considers how miners and rig workers make decisions surrounding the ethicality of their work. This article considers corporate publications including investor and sustainability reports and company-sponsored employee magazines, industry magazines, and news sources in top-producing fossil fuel producing localities in the United States. A discursive analysis of this set of publications uncovers a dense rhetorical lattice of misinformation and disinformation surrounding fossil fuel workers ...


The New Titans Of Wall Street: A Theoretical Framework For Passive Investors, Jill E. Fisch, Asaf Hamdani, Steven Davidoff Solomon 2019 University of Pennsylvania Law School

The New Titans Of Wall Street: A Theoretical Framework For Passive Investors, Jill E. Fisch, Asaf Hamdani, Steven Davidoff Solomon

Faculty Scholarship at Penn Law

Passive investors — ETFs and index funds — are the most important development in modern day capital markets, dictating trillions of dollars in capital flows and increasingly owning much of corporate America. Neither the business model of passive funds, nor the way that they engage with their portfolio companies, however, is well understood, and misperceptions of both have led some commentators to call for passive investors to be subject to increased regulation and even disenfranchisement. Specifically, this literature takes a narrow view both of the market in which passive investors compete to manage customer funds and of passive investors’ participation in the ...


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