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Annual Net Returns To Cover Crops In Iowa, Alejandro Plastina, Fangge Liu, Wendiam Sawadgo, Fernando E. Miguez, Sarah Carlson, Guillermo Marcillo 2018 Iowa State University

Annual Net Returns To Cover Crops In Iowa, Alejandro Plastina, Fangge Liu, Wendiam Sawadgo, Fernando E. Miguez, Sarah Carlson, Guillermo Marcillo

Economics Working Papers

Despite the active promotion of cover crops as a key conservation practice, their adoption is very limited. We developed a series of partial budgets based on a statewide survey of Iowa farmers to evaluate the changes in net returns resulting from the incorporation of cover crops into a corn or soybean production system. The average net returns to cover crops use for farmers that did not use cover crops for grazing livestock or forage were consistently negative across different planting and termination methods, tillage practices, and experience levels. Only farmers that used cover crops for grazing livestock or forage, and ...


The Colonial American Economy, Joshua L. Rosenbloom 2018 Iowa State University

The Colonial American Economy, Joshua L. Rosenbloom

Economics Working Papers

The first permanent British settlement in what became the United States was established in 1607, nearly 170 years prior to the American declaration of independence. This chapter examines the economic development of the British North American colonies that became the United States. As it describes, abundant natural resources and scarce labor and capital contributed to the remarkable growth in the size of the colonial economy, and allowed the free white colonial population to enjoy a relatively high standard of living. There was not, however, much improvement over time in living standards. Patterns of factor abundance also played an important role ...


Antebellum Labor Markets, Joshua L. Rosenbloom 2018 Iowa State University

Antebellum Labor Markets, Joshua L. Rosenbloom

Economics Working Papers

The United States economy was transformed in the period between American independence and the beginning of the Civil War by rapid population growth, the development of manufacturing, the onset of modern economic growth, increasing urbanization, the rapid spread of settlement into the trans-Appalachian west, and the rise of European immigration. These years were also characterized by an increasing sectional conflict between free and slave states that culminated in 1861 in Southern secession from the Union and a bloody and destructive Civil War. Labor markets were central to each of these developments, directing the reallocation of labor between sectors and regions ...


Horizontal Mergers, Market Structure, And Burdens Of Proof, Herbert J. Hovenkamp, Carl Shapiro 2018 University of Pennsylvania Law School

Horizontal Mergers, Market Structure, And Burdens Of Proof, Herbert J. Hovenkamp, Carl Shapiro

Faculty Scholarship at Penn Law

Since the Supreme Court’s landmark 1963 decision in Philadelphia National Bank, antitrust challengers have mounted prima facie cases against horizontal mergers that rested on the level and increase in market concentration caused by the merger, with proponents of the merger then permitted to rebut by providing evidence that the merger will not have the feared anticompetitive effects. Although the way that concentration is measured and the triggering levels have changed over the last half century, the basic approach has remained intact. This longstanding structural presumption, which is well supported by economic theory and evidence, has been critical to effective ...


Horizontal Shareholding And Antitrust Policy, Fiona M. Scott Morton, Herbert J. Hovenkamp 2018 Yale University

Horizontal Shareholding And Antitrust Policy, Fiona M. Scott Morton, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

“Horizontal shareholding” occurs when one or more equity funds own shares of competitors operating in a concentrated product market. For example, the four largest mutual fund companies might be large shareholders of all the major United States air carriers. A growing body of empirical literature concludes that under these conditions market output in the product market is lower and prices higher than they would otherwise be.

Here we consider how the antitrust laws might be applied to this practice, identifying the issues that courts are likely to encounter and attempting to anticipate litigation problems. We assume that neither the mutual ...


In Good Company: In The Future, Every Business Might Be Social, Christian Petroske 2018 Singapore Management University

In Good Company: In The Future, Every Business Might Be Social, Christian Petroske

Social Space

It sounds like a riddle: why would Coca Cola, one of the biggest soft drinks companies in the world, be investing in a cause to empower fi ve million female entrepreneurs globally by 2020? It’s true:1 the Coca Cola Company’s initiative, called 5by20, is a forerunning example of a trend sweeping the corporate world. This trend is known by many names, the foremost of which are “shared value”, “inclusive business” or “sustainable business”. Their defi nitions can seem murky at fi rst, but these terms share a common thread. They sit at the intersection of economy and ...


Antitrust And The Design Of Production, Herbert J. Hovenkamp 2018 University of Pennsylvania Law School

Antitrust And The Design Of Production, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Both economics and antitrust policy have traditionally distinguished “production” from “distribution.” The former is concerned with how products are designed and built, the latter with how they are placed into the hands of consumers. Nothing in the language of the antitrust laws suggests much concern with production as such. Although courts do not view it that way, even per se unlawful naked price fixing among rivals is a restraint on distribution rather than production. Naked price fixing assumes a product that has already been designed and built, and the important cartel decision is what should be each firm’s output ...


The Effects Of An Increasing Federal Minimum Wage On Federal Unemployment And Job Automation Levels, Kiana Krayeski 2018 University of Central Florida

The Effects Of An Increasing Federal Minimum Wage On Federal Unemployment And Job Automation Levels, Kiana Krayeski

Honors Undergraduate Theses

The industrial revolution was the start of increasing technological advancements that are continuing to grow today. Technology improves accuracy, efficiency and is more productive in comparison to human labor as it does not require breaks and cannot violate any labor laws. With many innovations available today, firms have more options to choose from and can select the relatively cheaper solution. The push for a fifteen-dollar minimum wage affects the firm's options, and the use of technology might increasingly become the more viable choice. This study took data from the years 1993 to 2016 and created two regressions using the ...


The Rule Of Reason, Herbert J. Hovenkamp 2018 University of Pennsylvania Law School

The Rule Of Reason, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Antitrust’s rule of reason was born out of a thirty-year (1897-1927) division among Supreme Court Justices about the proper way to assess multi-firm restraints on competition. By the late 1920s the basic contours of the rule for restraints among competitors was roughly established. Antitrust policy toward vertical restraints remained much more unstable, however, largely because their effects were so poorly understood.

This article provides a litigation field guide for antitrust claims under the rule of reason – or more precisely, for situations when application of the rule of reason is likely. At the time pleadings are drafted and even up ...


Constraining Labor's “Double Freedom”: Revisiting The Impact Of Wrongful Discharge Laws On Labor Markets, 1979-2014, Eric Hoyt 2018 University of Massachusetts Amherst

Constraining Labor's “Double Freedom”: Revisiting The Impact Of Wrongful Discharge Laws On Labor Markets, 1979-2014, Eric Hoyt

Doctoral Dissertations

I study the impact of wrongful discharge laws, a form of employment protection in the U.S., on union membership, wages, job tenure, and on-the-job training. There are several important contributions of this work to the previous social science research on the topic: First, I update the legal adoption dataset to 2014. Second, this is the first examination to date of the link between wrongful discharge laws and unions. Third, this is the first analysis that is able to include firm size controls in the investigation of the impact of wrongful discharge laws on wages. Finally, this analysis is the ...


The Impact Of Noxious And Carcinogenic Pollutants In Adams County Colorado, Ahnika Leroy 2018 University of Colorado, Boulder

The Impact Of Noxious And Carcinogenic Pollutants In Adams County Colorado, Ahnika Leroy

Undergraduate Honors Theses

This paper will explore how carcinogenic and noxious pollutants emitted from Toxic Release Sites (TRI) effect housing prices in an urban area of Colorado. This is possible in an empirical model that considers the influence of commercial and industrial properties. My approach addresses an important source of omitted variable bias like issues of sorting and agglomeration by disaggregating pollutant types and sites. I will also compare estimates using a hedonic and repeat sales model. Since I am using the repeat sales model, this can control for bias due to sorting. Results indicate that pollutant coefficients in the repeat sales model ...


Governance By Contract: The Implications For Corporate Bylaws, Jill E. Fisch 2018 University of Pennsylvania Law School

Governance By Contract: The Implications For Corporate Bylaws, Jill E. Fisch

Faculty Scholarship at Penn Law

Boards and shareholders are increasing using charter and bylaw provisions to customize their corporate governance. Recent examples include forum selection bylaws, majority voting bylaws and advance notice bylaws. Relying on the contractual conception of the corporation, Delaware courts have accorded substantial deference to board-adopted bylaw provisions, even those that limit shareholder rights.

This Article challenges the rationale for deference under the contractual approach. With respect to corporate bylaws, the Article demonstrates that shareholder power to adopt and amend the bylaws is, under Delaware law, more limited than the board’s power to do so. As a result, shareholders cannot effectively ...


Essays On The Role Of Government Regulation And Policy In Health Care Markets, Grayson L. Forlines 2018 University of Kentucky

Essays On The Role Of Government Regulation And Policy In Health Care Markets, Grayson L. Forlines

Theses and Dissertations--Economics

Understanding how health care markets function is important not only because competition has a direct influence on the price and utilization of health care services, but also because the proper functioning, or lack thereof, of health care markets has a very real impact on patients who depend on health care markets and providers for their personal well-being. In this dissertation, I examine the role of government policies and regulation in health care markets, with a focus on the response of health care providers. In Chapter 1, I analyze the impact of Medicare payment rules on hospital ownership of physician practices ...


A Multifaceted View Of Ceo Compensation And Performance: A Case Study, John Nirenberg 2018 Stamford International University

A Multifaceted View Of Ceo Compensation And Performance: A Case Study, John Nirenberg

Journal of Social Change

This case addresses CEO pay, a topic that annually stimulates the question of whether or not executive compensation is based on performance or something else and why it is so high in absolute terms. The societal impact of the new class of executives among the largest companies in the United States set apart from the rest of the world in a cocoon of wealth and privilege inflames resentment among workers, widens an already unfathomable distance between those at the top and the rest of us, and endangers the social amity among citizens of the polity . Positive social change might result ...


Strategic Ignorance In Sequential Procurement, Silvana Krasteva, Huseyin Yildirim 2017 Texas A & M University - College Station

Strategic Ignorance In Sequential Procurement, Silvana Krasteva, Huseyin Yildirim

Huseyin Yildirim

Should a buyer approach sellers of complementary goods informed or uninformed of her private valuations, and if informed, in which sequence? In this paper, we show that an informed buyer would start with the high-value seller to minimize future holdup. Informed (or careful) sequencing may, however, hurt the buyer as sellers "read" into it. The buyer may, therefore, commit to ignorance, perhaps, by: overloading herself with unrelated tasks; delegating the sequencing decision; or letting sellers self-schedule. Absent such commitment, we show that ignorance is not time-consistent for the buyer but it increases trade. Evidence on land assembly supports our findings.


Bringing Emotions Into Social Exchange Theory, Edward J. Lawler, Shane R. Thye 2017 Cornell University

Bringing Emotions Into Social Exchange Theory, Edward J. Lawler, Shane R. Thye

Edward J Lawler

We analyze and review how research on emotion and emotional phenomena can elaborate and improve contemporary social exchange theory. After identifying six approaches from the psychology and sociology of emotion, we illustrate how these ideas bear on the context, process, and outcome of exchange in networks and groups. The paper reviews the current state of the field, develops testable hypotheses for empirical study, and provides specific suggestions for developing links between theories of emotion and theories of exchange.


The Theory Of Relational Cohesion: Review Of A Research Program, Shane R. Thye, Jeongkoo Yoon, Edward J. Lawler 2017 University of South Carolina

The Theory Of Relational Cohesion: Review Of A Research Program, Shane R. Thye, Jeongkoo Yoon, Edward J. Lawler

Edward J Lawler

In this paper we analyze and review the theory of relational cohesion and attendant program of research. Since the early 1990s, the theory has evolved to answer a number of basic questions regarding cohesion and commitment in social exchange relations. Drawing from the sociology of emotion and modem theories of social identity, the theory asserts that joint activity in the form of frequent exchange unleashes positive emotions and perceptions of relational cohesion. In turn, relational cohesion is predicted to be the primary cause of commitment behavior in a range of situations. Here we outline the theory of relational cohesion, tracing ...


A Re-Examination Of Multistage Economies In Hog Farming, Joshua D. Parcel, John R. Schroeter, Azzeddine M. Azzam 2017 Iowa State University

A Re-Examination Of Multistage Economies In Hog Farming, Joshua D. Parcel, John R. Schroeter, Azzeddine M. Azzam

Economics Publications

Current trends in the structure of hog production in the U.S. are toward facilities that are not only larger, but also more likely to be specialized, carrying out only some of the vertically linked phases of production in the same facility. This paper investigates the cost efficiency incentives for these changes by estimating a multistage cost function for hog production. Data are from the Hog Production Practices and Costs portion of the USDA’s 2004 Agricultural Resource Management Survey.


Actavis And Error Costs: A Reply To Critics, Aaron S. Edlin, C. Scott Hemphill, Herbert J. Hovenkamp, Carl Shapiro 2017 University of California - Berkeley

Actavis And Error Costs: A Reply To Critics, Aaron S. Edlin, C. Scott Hemphill, Herbert J. Hovenkamp, Carl Shapiro

Aaron Edlin

The Supreme Court’s opinion in Federal Trade Commission v. Actavis, Inc. provided fundamental guidance about how courts should handle antitrust challenges to reverse payment patent settlements. In our previous article, Activating Actavis, we identified and operationalized the essential features of the Court’s analysis. Our analysis has been challenged by four economists, who argue that our approach might condemn procompetitive settlements.As we explain in this reply, such settlements are feasible, however, only under special circumstances. Moreover, even where feasible, the parties would not actually choose such a settlement in equilibrium. These considerations, and others discussed in the reply ...


Activating Actavis, Aaron Edlin, C. Scott Hemphill, Herbert J. Hovenkamp, Carl Shapiro 2017 University of California - Berkeley

Activating Actavis, Aaron Edlin, C. Scott Hemphill, Herbert J. Hovenkamp, Carl Shapiro

Aaron Edlin

In Federal Trade Commission v. Actavis, Inc., the Supreme Court provided fundamental guidance about how courts should handle antitrust challenges to reverse payment patent settlements. The Court came down strongly in favor of an antitrust solution to the problem, concluding that “an antitrust action is likely to prove more feasible administratively than the Eleventh Circuit believed.” At the same time, Justice Breyer’s majority opinion acknowledged that the Court did not answer every relevant question. The opinion closed by “leav[ing] to the lower courts the structuring of the present rule-of-reason antitrust litigation.”This article is an effort to help ...


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