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World Profit Rates, 1960-2019, Deepankar Basu, Julio Huato, Jesus Lara Jauregui, Evan Wasner 2022 Department of Economics, UMass Amherst

World Profit Rates, 1960-2019, Deepankar Basu, Julio Huato, Jesus Lara Jauregui, Evan Wasner

Economics Department Working Paper Series

In this paper we present estimates of the world profit rate using country-level data from the Extended Penn World Table 7.0 and industry-level data from the World Input Output Database. The country-aggregated world profit rate series spans the period from 1960 to 2019, and the industry-aggregated world profit rate series runs from 2000 to 2014. The country-aggregated world profit rate series displays a strong negative linear trend for the period 1960-1980 and a weaker negative linear trend from 1980 to 2019. A medium run decomposition analysis reveals that the decline in the world profit rate is driven by a decline …


Digital Market Concentration: An Institutional And Social Cost Analysis, Jack Shane 2022 Bowdoin College

Digital Market Concentration: An Institutional And Social Cost Analysis, Jack Shane

Honors Projects

In this thesis, I develop an analysis of the industry concentration seen in digital markets today. I begin with a description and argument for the use of institutional economics. This framework allows for the integration of an interdisciplinary approach to economics. My analysis details the socioeconomic and political impacts, as well as the underlying market dynamics that have pushed digital markets towards concentration. I offer novel explanations for the lack of firm behavior that should theoretically increase profit, the existence of barriers to competition, and consumer behavior that focus on the role of social institutions. I also detail many of …


Blockchain Networks As Knowledge Commons, Ilia Murtazashvili, Jennifer Brick Murtazashvili, Martin B. H. Weiss, Michael J. Madison 2022 University of Pittsburgh - Graduate School of Public and International Affairs

Blockchain Networks As Knowledge Commons, Ilia Murtazashvili, Jennifer Brick Murtazashvili, Martin B. H. Weiss, Michael J. Madison

Articles

Researchers interested in blockchains are increasingly attuned to questions of governance, including how blockchains relate to government, the ways blockchains are governed, and ways blockchains can improve prospects for successful self-governance. Our paper joins this research by exploring the implications of the Governing Knowledge Commons (GKC) framework to analyze governance of blockchains. Our novel contributions are making the case that blockchain networks represent knowledge commons governance, in the sense that they rely on collectively-managed technologies to pool and manage distributed information, illustrating the usefulness and novelty of the GCK methodology with an empirical case study of the evolution of Bitcoin, …


A Miser’S Rule Of Reason: Student Athlete Compensation And The Alston Antitrust Case, Herbert J. Hovenkamp 2022 University of Pennsylvania Carey Law School

A Miser’S Rule Of Reason: Student Athlete Compensation And The Alston Antitrust Case, Herbert J. Hovenkamp

Faculty Scholarship at Penn Carey Law

The unanimous Supreme Court decision in NCAA v. Alston is its most important probe of antitrust’s rule of reason in decades. The decision implicates several issues, including the role of antitrust in labor markets, how antitrust applies to institutions that have an educational mission as well as involvement in a large commercial enterprise, and how much leeway district courts should have in creating decrees that contemplate ongoing administration.

The Court accepted what has come to be the accepted framework: the plaintiff must make out a prima facie case of competitive harm. Then the burden shifts to the defendant to produce …


The U.S. Coal Industry: Market Structure & Implications, Sara Elizabeth Guffey 2022 West Virginia University

The U.S. Coal Industry: Market Structure & Implications, Sara Elizabeth Guffey

Graduate Theses, Dissertations, and Problem Reports

The U.S. coal mining industry was once a booming industry which created and defined communities, particularly in Appalachia. The industry has, however, transformed significantly in the last couple of decades with the passage of environmental policies, with competition from the Shale Revolution, from changes in company ownership, and from mine safety regulation. Overall, the coal industry during this time has experienced a massive decline in production and employment. This dissertation is composed of three papers that investigate these mechanisms and their role in understanding market structure, coal transactions and prices, and mine safety outcomes. Motivated by the shutdowns of U.S. …


Aacsb Accreditation And Student Demand, Bryan McCannon, Katherine Starr, Marisa Cameron 2022 West Virginia University

Aacsb Accreditation And Student Demand, Bryan Mccannon, Katherine Starr, Marisa Cameron

Faculty & Staff Scholarship

We ask whether AACSB accreditation has a meaningful impact on university admissions. To do this, we explore 16 U.S. institutions which first achieved this certification recently. We, first, document a modest, but nonzero, impact on university-wide undergraduate applications, without any changes in first-year enrollment, price, or quality of the incoming student body. Restricting attention to business schools, while initial evidence suggests that the accreditation is associated with a decrease in enrollments, we show that this is complicated by non-parallel trends prior to accreditation. Compared to their comparison institutions, universities who seek out accreditation were experiencing flatter business enrollments. Correcting for …


Antitrust Error Costs, Herbert J. Hovenkamp 2022 University of Pennsylvania Carey Law School

Antitrust Error Costs, Herbert J. Hovenkamp

Faculty Scholarship at Penn Carey Law

The idea that consideration of error costs should inform judgments about actions with uncertain consequences is well established. When we act on imperfect information, we consider not only the probability of an event, but also the expected costs of making an error. In 1984 Frank Easterbrook used this idea to rationalize an anti-enforcement bias in antitrust, reasoning that markets are likely to correct monopoly in a relatively short time while judicial errors are likely to persist. As a result, false positives (recognizing a problem when there is none) are more costly than false negatives. While the problem of error cost …


Fast Fashion From A Buddhist Perspective, Elizabeth McLaughlin 2021 La Salle University

Fast Fashion From A Buddhist Perspective, Elizabeth Mclaughlin

HON499 projects

The connection between Buddhism and fast fashion is not immediately apparent, nor is it a particularly well-researched area. However, the topic of consumption underlies both topics, relating to each in markedly different ways. Buddhist precepts outline practices of mindful and sustainable consumption within limited means; fast fashion fosters consumption on a massive, global scale. The work of Ernst Friedrich Schumacher, a man with a career in economics that was aided by great concern for the survival and success of humankind, offers clarity to the conversation about Buddhism and fast fashion. He pioneered the field of Buddhist economics, which seeks to …


Contributor's Guidelines And Article Index, USAWC Press 2021 US Army War College

Contributor's Guidelines And Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.


Commentary And Reply, Claude A. Lambert 2021 US Army War College

Commentary And Reply, Claude A. Lambert

The US Army War College Quarterly: Parameters

No abstract provided.


Review Essay, Robert L. Bateman 2021 US Army War College

Review Essay, Robert L. Bateman

The US Army War College Quarterly: Parameters

No abstract provided.


Book Reviews, USAWC Press 2021 US Army War College

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.


Article Index, USAWC Press 2021 US Army War College

Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.


Book Reviews, USAWC Press 2021 US Army War College

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.


Antitrust And Platform Monopoly, Herbert J. Hovenkamp 2021 University of Pennsylvania Carey Law School

Antitrust And Platform Monopoly, Herbert J. Hovenkamp

Faculty Scholarship at Penn Carey Law

Are large digital platforms that deal directly with consumers “winner take all,” or natural monopoly, firms? That question is surprisingly complex and does not produce the same answer for every platform. The closer one looks at digital platforms the less they seem to be winner-take-all. As a result, competition can be made to work in most of them. Further, antitrust enforcement, with its accommodation of firm variety, is generally superior to any form of statutory regulation that generalizes over large numbers.

Assuming that an antitrust violation is found, what should be the remedy? Breaking up large firms subject to extensive …


Addressing The Divisions In Antitrust Policy, Herbert J. Hovenkamp 2021 University of Pennsylvania Carey Law School

Addressing The Divisions In Antitrust Policy, Herbert J. Hovenkamp

Faculty Scholarship at Penn Carey Law

This is the text of an interview conducted in writing by Professor A. Douglas Melamed, Stanford Law School.


Vertical Control, Herbert J. Hovenkamp 2021 University of Pennsylvania Law School

Vertical Control, Herbert J. Hovenkamp

Faculty Scholarship at Penn Carey Law

Antitrust litigation often requires courts to consider challenges to vertical “control.” How does a firm injure competition by limiting the behavior of vertically related firms? Competitive injury includes harm to consumers, labor, or other suppliers from reduced output and higher margins.

Historically antitrust considers this issue by attempting to identify a market that is vertically related to the defendant, and then consider what portion of it is “foreclosed” by the vertical practice. There are better mechanisms for identifying competitive harm, including a more individualized look at how the practice injures the best placed firms or bears directly on a firm’s …


Government Royalties On Sales Of Pharmaceutical And Other Biomedical Products Developed With Substantial Public Funding: Illustrated With The Technology Transfer Of The Drug-Eluting Coronary Stent, Robert S. Danziger, John T. Scott 2021 University of Illinois at Chicago

Government Royalties On Sales Of Pharmaceutical And Other Biomedical Products Developed With Substantial Public Funding: Illustrated With The Technology Transfer Of The Drug-Eluting Coronary Stent, Robert S. Danziger, John T. Scott

Dartmouth Scholarship

This study develops a detailed description of the successful technology transfer of an invention—the drug-eluting coronary stent—originating in intramural research within the National Institutes of Health. The history of the commercialization of the invention is used to illustrate a new policy, proposed and explained in this study, for the payment to the government of royalties on the sales of biomedical products developed with substantial public funding provided through indirect as well as direct funding avenues. The proposed policy addresses concerns about the high prices that taxpayers as consumers pay for biomedical products that were developed with funding from the taxpayers …


Great (Soft) Power Competition: Us And Chinese Efforts In Global Health Engagement, Michael W. Wissemann 2021 US Army War College

Great (Soft) Power Competition: Us And Chinese Efforts In Global Health Engagement, Michael W. Wissemann

The US Army War College Quarterly: Parameters

Global health engagement, an underutilized strategy rooted in the strengths of soft power persuasion, can lead to more military-to-military cooperation training, help establish relationships that can be relied on when crises develop, stabilize fragile states, and deny violent extremist organizations space for recruiting and operations. Examining Chinese efforts worldwide to curry favor and influence and the challenges posed by the COVID-19 pandemic, this article shows health as a medium is a very compelling and advantageous whole-of-government approach to national security policy concerns.


Reversing The Readiness Assumption: A Proposal For Fiscal And Military Effectiveness, Jason W. Warren, John A. Bonin 2021 US Army War College

Reversing The Readiness Assumption: A Proposal For Fiscal And Military Effectiveness, Jason W. Warren, John A. Bonin

The US Army War College Quarterly: Parameters

Looming budget cuts will necessitate adept management to retain a military capable of competing and winning by avoiding the mistakes made in prior drawdowns. This article presents a framework for government and defense leaders to prepare for the coming drawdown and plan for the necessary capacity of tomorrow across the diplomatic, information, military, and economic framework.


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