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An Experimental Test Of Algorithmic Dismissals, Brice Corgnet 2023 Chapman University

An Experimental Test Of Algorithmic Dismissals, Brice Corgnet

ESI Working Papers

We design a laboratory experiment in which a human or an algorithm decides which of two workers to dismiss. The algorithm automatically dismisses the least productive worker whereas human bosses have full discretion over their decisions. Using performance metrics and questionnaires, we find that fired workers react more negatively to human than to algorithmic decisions in a broad range of tasks. We show that spitefulness exacerbated this negative reaction. Our findings suggest algorithms could help tame negative reactions to dismissals.


A Taxonomy Of Non-Dictatorial Unidimensional Domains, Shurojit CHATTERJI, Huaxia ZENG 2023 Singapore Management University

A Taxonomy Of Non-Dictatorial Unidimensional Domains, Shurojit Chatterji, Huaxia Zeng

Research Collection School Of Economics

Non-dictatorial preference domains allow the design of unanimous social choice functions (henceforth, rules) that are non-dictatorial and strategy-proof. On a class of preference domains called unidimensional domains, we show that the unique seconds property characterizes all non-dictatorial domains. Subsequently, we provide an exhaustive classification of all non-dictatorial, unidimensional domains, based on a simple property of two-voter rules called invariance. The domains constituting the classification are semi-single-peaked domains and semi-hybrid domains (introduced here) which are two appropriate weakenings of single-peaked domains and shown to allow strategy-proof rules to depend on non-peak information of voters' preferences; the canonical strategy-proof rules for these …


Impact Of Demand For H1b Visas In The Us On The Performance Of Listed Indian Firms, Jayaditya Shekhar Maliye 2023 Claremont Colleges

Impact Of Demand For H1b Visas In The Us On The Performance Of Listed Indian Firms, Jayaditya Shekhar Maliye

CMC Senior Theses

This thesis examines the relationship between Indian firm performance and the demand for H1B visas in the US. To test this relationship, a fixed effects model has been used on a panel dataset of 104 Indian firms listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) over the period 2009 to 2021. The results show that an increase in H1B visa demand is negatively and significantly associated with Indian firm performance. These findings suggest that the US’s demand for high skilled labor overseas has consequences for firms in the home country.


A Philosophical And Empirical Investigation Into Buddhist Economics, Hannah Doyle 2023 Claremont Colleges

A Philosophical And Empirical Investigation Into Buddhist Economics, Hannah Doyle

CMC Senior Theses

There is a growing body of literature on Buddhist economics from a philosophical perspective; however, no work to date has sought to empirically validate it as an effective economic theory at a global scale. In my paper, I draw on the long history of Buddhist metaphysics to construct an account of Buddhist ethics and then proceed to derive a set of Buddhist economic principles. I draw on the World Happiness Report’s methodology to quantitatively demonstrate the relationship between Buddhist economic principles and the psychological wellbeing of a country’s citizens, as measured through their own evaluation of their quality of life …


The Paycheck Protection Program's Effect On Real Estate Prices, Someswar Amujala 2023 Claremont Colleges

The Paycheck Protection Program's Effect On Real Estate Prices, Someswar Amujala

CMC Senior Theses

This paper investigates the relationship between the Paycheck Protec- tion Program (PPP) and real estate price increases. The Paycheck Protection Program was established by the Small Business Association in 2020 to pro- vide forgivable loans to businesses to aid with potential losses from COVID- 19 impacts. I leverage zip code level data across the United States and a fixed effects panel data model to quantitatively measure the PPP’s influence on housing and rental prices. I find a positive and significant relationship between the number of PPP loans disbursed and housing and rental rates. Specifically, a 1% change in the number …


Decentralizability Of Efficient Allocations With Heterogenous Forecasts, Shurojit CHATTERJI, Atsushi KAJII 2023 Singapore Management University

Decentralizability Of Efficient Allocations With Heterogenous Forecasts, Shurojit Chatterji, Atsushi Kajii

Research Collection School Of Economics

Do price forecasts of rational economic agents need to coincide in perfectly competitive complete markets? To address this question, we define an efficient temporary equilibrium (ETE) within the framework of a two period economy. Although an ETE allocation is intertemporally efficient and is obtained by perfect competition, it can arise without the agents forecasts being completely coordinated on a perfect foresight price. Nevertheless, it entails price forecasts delicately related with each other: we show that regardless of the number of agents, there is a one dimensional set of such Pareto efficient allocations for generic endowments.


Endogenous Political Legitimacy: The Tudor Roots Of England’S Constitutional Governance, Avner Greif, Jared Rubin 2023 Stanford University

Endogenous Political Legitimacy: The Tudor Roots Of England’S Constitutional Governance, Avner Greif, Jared Rubin

ESI Working Papers

This paper highlights the importance of endogenous changes in the foundations of legitimacy for political regimes. Specifically, it highlights the central role of legitimacy changes in the rise of constitutional monarchy in England. It first highlights the limitations of the consensus view regarding this transition, which claims that Parliament’s military power enabled it to force constitutional monarchy on the Crown after 1688. It then turns to define legitimacy and briefly elaborates a theoretical framework enabling a historical study of this unobservable variable. The third and primary section substantiates that the low-legitimacy, post-Reformation Tudor monarchs of the 16th century promoted Parliament …


Natural Selection Of Immune And Metabolic Genes Associated With Health In Two Lowland Bolivian Populations, Amanda J. Lea, Angela Garcia, Jesusa Arevalo, Julien F. Ayroles, Kenneth Buetow, Steve W. Cole, Daniel Eid Rodriguez, Maguin Gutierrez, Heather M. Highland, Paul L. Hooper, Anne Justice, Thomas Kraft, Kari E. North, Jonathan Stieglitz, Hillard Kaplan, Benjamin C. Trumble, Michael Gurven 2022 Vanderbilt University

Natural Selection Of Immune And Metabolic Genes Associated With Health In Two Lowland Bolivian Populations, Amanda J. Lea, Angela Garcia, Jesusa Arevalo, Julien F. Ayroles, Kenneth Buetow, Steve W. Cole, Daniel Eid Rodriguez, Maguin Gutierrez, Heather M. Highland, Paul L. Hooper, Anne Justice, Thomas Kraft, Kari E. North, Jonathan Stieglitz, Hillard Kaplan, Benjamin C. Trumble, Michael Gurven

ESI Publications

A growing body of work has addressed human adaptations to diverse environments using genomic data, but few studies have connected putatively selected alleles to phenotypes, much less among underrepresented populations such as Amerindians. Studies of natural selection and genotype–phenotype relationships in underrepresented populations hold potential to uncover previously undescribed loci underlying evolutionarily and biomedically relevant traits. Here, we worked with the Tsimane and the Moseten, two Amerindian populations inhabiting the Bolivian lowlands. We focused most intensively on the Tsimane, because long-term anthropological work with this group has shown that they have a high burden of both macro and microparasites, as …


A Classical Model Of Speculative Asset Price Dynamics, Sabiou M. Inoua, Vernon L. Smith 2022 Chapman University

A Classical Model Of Speculative Asset Price Dynamics, Sabiou M. Inoua, Vernon L. Smith

ESI Working Papers

In retrospect, the experimental findings on competitive market behavior called for a revival of the old, classical, view of competition as a collective higgling and bargaining process (as opposed to price-taking behaviors) founded on reservation prices (in place of the utility function). In this paper, we specialize the classical methodology to deal with speculation, an important impediment to price stability. The model involves typical features of a field or lab asset market setup and lends itself to an experimental test of its specific predictions; here we use the model to explain three general stylized facts, well established both empirically and …


Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman 2022 Cleveland State University

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.


Working Paper No. 67, Insights Into Project Cybersyn, Leah Herrera 2022 Portland State University

Working Paper No. 67, Insights Into Project Cybersyn, Leah Herrera

Working Papers in Economics

This inquiry seeks to establish that back in the 1970s Chile’s “Project Cybersyn” offered novel approaches and specific technologies that appeared to have benefitted capitalism as a system. The Spanish name, SYNCO served as an acronym for Sistema de Información y Control. President Salvador Allende expected that the attributes associated with Project Cybersyn could assist his efforts in implementing his variant of socialism. Cybersyn consisted of a network (Cybernet), software (Cyberstride), computers, a economic simulator known as CHECO, and a control room (Opsroom.) Cybersyn reached an advanced prototype stage; however, its fate was also tied to the interests of the …


Working Paper No. 63, On Karl Polanyi And His Conception Of Fascism, Serene Mistkawi 2022 Portland State University

Working Paper No. 63, On Karl Polanyi And His Conception Of Fascism, Serene Mistkawi

Working Papers in Economics

This inquiry seeks to establish that the writings of author Karl Polanyi offered insights into key variables and historical conditions that gave rise to the system we know of as “fascism.” Integral to his insights, Polanyi describes economic conditions attendant for fascism to emerge, with one condition noted as widespread and persistent unemployment. Polanyi stresses that fascism needs to be understood as reactionary, a responding to features integral to classical liberalism. Considering a broad historical context Polanyi teaches us of the political conditions necessary for fascism to emerge and take form as political movements wielding power. He considers conflicts in …


Working Paper No. 69, Towards An Evolutionary History Of Gleaning, Stella Burlingame 2022 Portland State University

Working Paper No. 69, Towards An Evolutionary History Of Gleaning, Stella Burlingame

Working Papers in Economics

This inquiry seeks to establish that the act of gleaning can be understood through an evolutionary approach. Because gleaning has been practiced in some form in almost every agricultural system, this inquiry shall consider several different regions and time periods, taking into account the distinct economic and social structures. The segments of history to be explored here range from antiquity, as documented in Scripture, through early modernity, and into the post-modern era.


Working Paper No. 71, Max Weber: On Religion And Economic Outcomes, Celeste Aiu Taber 2022 Portland State University

Working Paper No. 71, Max Weber: On Religion And Economic Outcomes, Celeste Aiu Taber

Working Papers in Economics

This inquiry seeks to establish that early sociologist Max Weber advances a view that religious faith could indeed affect economic outcomes. In his analysis of Reformed faiths, Weber determines that “the calling” inspired by Martin Luther transformed the work ethic of believers, instilling in them a spirit suitable for the advancement of modern capitalism. The Reformed work ethic observed by Weber served as a basis for individual Protestants to accumulate wealth. Weber also considers the developments of religious asceticism among the faiths of Calvinism, Pietism, Methodism, and the Baptist movements. The ascetic character of these religious communities assisted in generating …


Working Paper No. 73, “Placing-Out”: Dealing With Vagrant Children In 19th Century America, Josephine Cannistra 2022 Portland State University

Working Paper No. 73, “Placing-Out”: Dealing With Vagrant Children In 19th Century America, Josephine Cannistra

Working Papers in Economics

This inquiry seeks to convince the reader that motivations of 19th century aid societies were not necessarily rooted in the welfare of vagrant children, but rather in the goals of bolstering American agriculture and creating a new generation of farmers out of children that likely would have otherwise proved a direct social and economic burden. While apprenticeships have a long history in the United States, the joining of apprenticeships and indentured labor formed a 19th century system of placing children out into rural homes as contracted workers. This system, as social movement from above, offered economic benefits to farmers and …


Working Paper No. 72, The 1849 Gold Rush And The Roots Of California’S Economic Development, Matthew Phan 2022 Portland State University

Working Paper No. 72, The 1849 Gold Rush And The Roots Of California’S Economic Development, Matthew Phan

Working Papers in Economics

The Californian Gold Rush, commonly referred to as the “1849 Gold Rush” proved to be a major event which brought significant change to California. This inquiry seeks to establish that this 1849 Gold Rush provided a foundation for a broadly shared prosperity through contributing to the advancement of California’s industry. The first part in this inquiry goes into some detail regarding how the gold rush got initiated, would become a major event for the world. The second part explores what changes the gold rush had brought for California’s industry, economic development, and broadly shared prosperity. The third part explains more …


Working Paper No. 68, Variables Precipitating The Extermination Of The American Bison, Cameron Winterer 2022 Portland State University

Working Paper No. 68, Variables Precipitating The Extermination Of The American Bison, Cameron Winterer

Working Papers in Economics

This inquiry seeks to establish that innovations in tanning technology advanced by Europeans in the late 19th century accelerated the destruction of the bison, and subsequently the downfall of bison-reliant indigenous groups of the Great Plains, especially. The North American bison is considered as a crucial natural resource in the plains region of North America. What this inquiry seeks to emphasize is that advancements in technology, coupled with a growing demand for bison hides, contributed to the demise of bison populations. Lastly, this inquiry seeks to examine the near extinction of the plains bison and some of the effects their …


Working Paper No. 70, Industrialization, Retail Activities, And The Rise Of American Consumerism, Joseph French 2022 Portland State University

Working Paper No. 70, Industrialization, Retail Activities, And The Rise Of American Consumerism, Joseph French

Working Papers in Economics

This inquiry seeks to establish that the department store can be viewed as a novel institution that emerged to facilitate an economic relationship between a burgeoning American industrial sector and a new generation of working-class consumers with rising incomes and changing needs. The development of retail in America lagged behind Europe for many decades, until the rapid pace of American industrialization acted as a catalyst for retail to evolve into a modern institution. Alongside the creation of the department store, American cities were taking to the skies, and those who inhabited them would establish a new socio-economic class that was …


Optimal Patent Licensing—Two Or Three-Part Tariff, Swapnendu Banerjee, Arijit Mukherjee, Sougata Poddar 2022 Jadavpur University

Optimal Patent Licensing—Two Or Three-Part Tariff, Swapnendu Banerjee, Arijit Mukherjee, Sougata Poddar

Economics Faculty Articles and Research

We look into technology transfer by an insider patentee in a spatial duopoly model under three types of licensing contracts—(i) two-part tariff with fixed fee and per-unit royalty, (ii) two-part tariff with fixed fee and ad-valorem royalty and (iii) general three-part tariff with fixed fee, per-unit and ad-valorem royalties. Under two-part tariff contracts, the licenser is better off with the per-unit royalty contract but the general contract does better than the other contracts. In contrast to the existing literature, all three licensing contracts may make the consumers worse-off compared to no licensing, with the lowest consumer surplus achieved under the …


A Welfare Comparison Of Historical Cost And Fair Value Accounting Regimes, Palmer Edholm 2022 Utah State University

A Welfare Comparison Of Historical Cost And Fair Value Accounting Regimes, Palmer Edholm

All Graduate Plan B and other Reports

With ongoing controversy concerning fair value and historical cost accounting, existing accounting theory is focused on intra-firm decision making and is thus deficient in addressing the issue of maximizing social welfare. I propose models of historical cost and fair value accounting regimes which are embedded in models of monopoly and oligopoly. This allows for social welfare implications. I find that historical cost results in greater expected profits for both monopolists and oligopolists. However, if the market is elastic enough, a fair value regimes is welfare enhancing. Whereas, if the market is inelastic enough, historical cost is welfare enhancing.


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