A Discourse On Diversity: The Impact Of Management Team Heterogeneity On Firm Performance., 2016 University of Warwick
A Discourse On Diversity: The Impact Of Management Team Heterogeneity On Firm Performance., Robert J. Brown
Undergraduate Economic Review
Quantile models are used to test the association between management team gender, ethnic and educational diversity and firm performance, employing an IV technique developed by Chernozhukov and Hansen (2008) to address the potential endogeneity issues. Estimated associations between measures of diversity and firm EBITDA margins are close to zero across much of the dependent variable distribution, but increase in magnitude for higher margin firms. No evidence of a statistically significant causal relationship between gender and ethnic diversity and firm EBITDA margins is found. Marginal evidence of a statistically significant association between margins and educational diversity is found for high margin ...
An Indirect Test For The Specification Of Expectation Regimes, 2016 Iowa State University
An Indirect Test For The Specification Of Expectation Regimes, Peter Orazem, John A. Miranowski
This paper develops an empirical strategy for testing competing hypotheses of expectation regimes when direct measures of expectations are unavailable. The procedure takes as given an assumed structural relationship between expected values of exogenous variables and a given decision variable. By imposing different expectation regimes on this model, we obtain an artificial nesting of the hypothesized regimes which allows us to test whether any specification dominates. This methodology is extended to multiple equation applications with any number of hypothesized expectation regimes. The tests are illustrated using a model of the response of county-level farm acreage allocation to expected commodity prices.
Consumer Choices And Welfare Gains From New, Healthy Products: A Virtual Prices Approach, 2016 Iowa State University
Consumer Choices And Welfare Gains From New, Healthy Products: A Virtual Prices Approach, Sonya K. Huffman, Ariun Ishdorj, Helen H. Jensen
This paper models consumer food choices with respect to different margarine and spread brands that include a new healthy brand. The results show that the older and smaller size households with higher income and higher education are more likely to purchase the healthy brand. An Almost Ideal Demand System for six brands was estimated and the coefficients were used to calculate price and brand expenditure elasticities in order to examine the responsiveness of the consumers to economic variables.
Interventi Disaccoppiati, Riforma Della Pac E Redditi Agricoli: Una Analisi Qualitativa, 2016 Universita Cattolica del Sacro Cuore
Interventi Disaccoppiati, Riforma Della Pac E Redditi Agricoli: Una Analisi Qualitativa, Paolo Sckokai, Giancarlo Moschini
La recente riforma della Politica Agricola Comune (PAC) costituisce uno dei cambiamenti piu drastici ed ambiziosi che sia stato mai intrapreso negli orientamenti comunitari. Come e noto, il sostegno del mercato dei principali prodotti agricoli subira modificazioni profonde, ponendo una serie di importanti quesiti sugli effetti economici della riforma. In Italia, lo sforzo dei ricercatori si e rivolto essenzialmente alia quantificazione degli effetti sui redditi agricoli, come logica risposta aile preoccupazioni del mondo rurale, che vede nella riforma una vera e propria rivoluzione 1 , In queStO COnteStO, Un puntO di pattenza Utile e rappresentato da una discussione teorica dei nuovi ...
16-23 Dual Process Utility Theory: A Model Of Decisions Under Risk And Over Time, 2016 Chapman University
16-23 Dual Process Utility Theory: A Model Of Decisions Under Risk And Over Time, Mark Schneider
ESI Working Papers
The Discounted Expected Utility model has been a major workhorse for analyzing individual behavior for over half a century. However, it cannot account for evidence that risk interacts with time preference, that time interacts with risk preference, that many people are averse to timing risk and do not discount the future exponentially, that discounting depends on the magnitude of outcomes, that risk preferences are not time preferences, and that risk and time preferences are correlated with cognitive ability. Here we address these issues in a decision model based on the interaction of an affective and a reflective valuation process. The ...
16-25 Multi-Battle Contests: An Experimental Study, 2016 University of Richmond
16-25 Multi-Battle Contests: An Experimental Study, Shakun D. Mago, Roman M. Sheremeta
ESI Working Papers
We examine behavior of subjects in simultaneous and sequential multi-battle contests, where each individual battle is modeled as an all-pay auction with complete information. In simultaneous best-of-three contests, subjects are predicted to make positive bids in all three battles, but we find that subjects often make positive bids in only two battles. In sequential contests, theory predicts sizable bids in the first battle and no bids in the subsequent battles. Contrary to this prediction, subjects significantly underbid in the first battle and overbid in subsequent battles. Consequently, instead of always ending in the second battle, contests often proceeds to the ...
16-21 Impulsive Behavior In Competition: Testing Theories Of Overbidding In Rent-Seeking Contests, 2016 Chapman University
16-21 Impulsive Behavior In Competition: Testing Theories Of Overbidding In Rent-Seeking Contests, Roman M. Sheremeta
ESI Working Papers
Researchers have proposed various theories to explain overbidding in rent-seeking contents, including mistakes, systematic biases, the utility of winning, and relative payoff maximization. Through an eight-part experiment, we test and find significant support for the existing theories. Also, we discover some new explanations based on cognitive ability and impulsive behavior. Out of all explanations examined, we find that impulsivity is the most important factor explaining overbidding in contests.
16-19 Endogenous Market Formation And Monetary Trade: An Experiment, 2016 Chapman University
16-19 Endogenous Market Formation And Monetary Trade: An Experiment, Gabriele Camera, Dror Goldberg, Avi Weiss
ESI Working Papers
The theory of money assumes decentralized bilateral exchange and excludes centralized multilateral exchange. However, endogenizing the exchange process is critical for understanding the conditions that support the use of money. We develop a “travelling game” to study the spontaneous emergence of decentralized and centralized exchange, theoretically and experimentally. Players located on separate “islands” can either trade locally, or pay a cost to trade elsewhere, so decentralized and centralized markets can both emerge in equilibrium. The latter maximize trade meetings and are socially efficient; the former minimize trade costs through the use of money. In the laboratory, centralized exchange more frequently ...
16-18 Do Economic Inequalities Affect Long-Run Cooperation?, 2016 Chapman University
16-18 Do Economic Inequalities Affect Long-Run Cooperation?, Gabriele Camera, Cary Deck, David Porter
ESI Working Papers
Does inequality affect a group’s cohesion and ability to prosper? Participants in laboratory economies played an indefinite sequence of helping games in random, anonymous pairs. A coin flip determined donor and recipient roles in each pair. This random shock ensured equality of opportunity but not of results, because earnings depended on realized shocks. We manipulated the ability to condition choices on this uncontrollable inequality source. In all treatments, uncertain ending supports multiple Pareto-ranked equilibria, including full cooperation. Theoretically, inequalities do not alter the incentives’ structure. Empirically, inequality disclosures altered conduct, weakened norms of mutual support and reduced efficiency.
Economic Contributions Of Atv-Related Activity In Maine, 2016 University of Maine - Main
Economic Contributions Of Atv-Related Activity In Maine, Jonathan Rubin, Charles Morrris
Riding ATVs has become a highly visible recreational activity in Maine. During the 2003/2004 season from July 1, 2003 to June 30, 2004 there were 59,057 ATVs registered in Maine to 45,561 separate households in Maine and from outside of Maine. During 2004, the Margaret Chase Smith Policy Center at the University of Maine in conjunction with the Maine Department of Conservation conducted a study to determine the total contribution to Maine’s economy that results from the spending related directly to the purchase and use of ATVs in Maine. We also examined the environmental and economic ...
The Peculiar Role Of The Delaware Courts In The Competition For Corporate Charters, 2016 University of Pennsylvania Law School
The Peculiar Role Of The Delaware Courts In The Competition For Corporate Charters, Jill E. Fisch
No abstract provided.
16-16 Focality And Asymmetry In Multi-Battle Contests, 2016 University of East Anglia
16-16 Focality And Asymmetry In Multi-Battle Contests, Subhashish M. Chowdhury, Dan Kovenock, David Rojo Arjona, Nathaniel Wilcox
ESI Working Papers
This article examines behavior in two-person constant-sum Colonel Blotto games in which each player maximizes the expected total value of the battlefields won. A lottery contest success function is employed in each battlefield. Recent experimental research on such games provides only partial support for Nash equilibrium behavior. We hypothesize that the salience of battlefields affects strategic behavior (the salient target hypothesis). We present a controlled test of this hypothesis – against Nash predictions – when the sources of salience come from certain asymmetries in either battlefield values or labels (as in Schelling (1960)). In both cases, subjects over-allocate the resource to the ...
Uncovering The Relationship Between Women’S Employment And Trade Orientation Using Firm-Level Data, Mohammad Amin, Asif Islam, Khrystyna Kushnir
Essays In Applied Economics: Applications Of Transformed Ordinal Quantile Regression, 2016 University of Tennessee, Knoxville
Essays In Applied Economics: Applications Of Transformed Ordinal Quantile Regression, Okila R. Elboeva
This dissertation consists of three essays on the application of Transformed Ordinal Quantile Regression (TORQUE) developed by Hong and He (2010). TORQUE is based on jittered response, a nonparametric link function, a semiparametric quantile estimation. When the response variable is categorical an application of the standard quantile regression is not optimal. TORQUE technique generalizes ordinary quantile regression, and as a semiparametric method it is more robust than Maximum Likelihood Estimators.
In the first essay I estimate conditional quantiles of happiness using the data from British Household Panel Survey (BHPS) for 2006. I find the continuity assumption of happiness ranking does ...
The Influence Of The Electric Supply Industry On Economic Growth In Less Developed Countries, 2016 University of Southern Mississippi
The Influence Of The Electric Supply Industry On Economic Growth In Less Developed Countries, Edward Richard Bee
This study measures the impact that electrical outages have on manufacturing production in 135 less developed countries using stochastic frontier analysis and data from World Bank’s Investment Climate surveys. Outages of electricity, for firms with and without backup power sources, are the most frequently cited constraint on manufacturing growth in these surveys.
Outages are shown to reduce output below the production frontier by almost five percent in Africa and by a lower percentage in South Asia, Southeast Asia and the Middle East and North Africa. Production response to outages is quadratic in form. Outages also increase labor cost, reduce ...
Introducción A La Economia, 2016 Universidad Autonoma de Coahuila
Introducción A La Economia, Vicente German-Soto
Influence Of Socio-Demographic Characteristics On Different Dimensions Of Household Food Insecurity In Montevideo, Uruguay, 2016 Universidad del Uruguay - Departamento de Economía (dECON)
Influence Of Socio-Demographic Characteristics On Different Dimensions Of Household Food Insecurity In Montevideo, Uruguay, Maximo Rossi, Zuleika Ferre, Maria Rosa Curuchet, Ana Gimenez, Gaston Ares
Multiple Openings And Competitiveness Of Forward Markets: Experimental Evidence, 2016 Universidad Carlos III de Madrid
Multiple Openings And Competitiveness Of Forward Markets: Experimental Evidence, José Luis Ferreira, Praveen Kujal, Stephen Rassenti
Economics Faculty Articles and Research
We test the competition enhancing effect of selling forward in experimental Cournot duopoly and quadropoly with multiple forward markets. We find that two forward periods yields competitive outcomes and that the results are very close to the predicted theoretical results for quantity setting duopolies and quadropolies. Our experiments lend strong support to the hypothesis that forward markets are competition enhancing. We then test a new market that allows for endogenously determined indefinitely many forward periods that only close when sellers coordinate on selling a zero amount in a forward market. We find that the outcomes under an endogenous close rule ...
Indirect Reciprocity, Resource Sharing, And Environmental Risk: Evidence From Field Experiments In Siberia, 2016 University of Alaska, Anchorage
Indirect Reciprocity, Resource Sharing, And Environmental Risk: Evidence From Field Experiments In Siberia, E. Lance Howe, James J. Murphy, Drew Gerkey, Colin Thor West
Integrating information from existing research, qualitative ethnographic interviews, and participant observation, we designed a field experiment that introduces idiosyncratic environmental risk and a voluntary sharing decision into a standard public goods game. Conducted with subsistence resource users in rural villages on the Kamchatka Peninsula in Northeast Siberia, we find evidence consistent with a model of indirect reciprocity and local social norms of helping the needy. When participants are allowed to develop reputations in the experiments, as is the case in most small-scale societies, we find that sharing is increasingly directed toward individuals experiencing hardship, good reputations increase aid, and the ...
Combine Harvester Econometric Model With Forward Speed Optimization, 2016 CNH America
Combine Harvester Econometric Model With Forward Speed Optimization, Nathan E. Isaac, Graeme R. Quick, Stuart J. Birrell, William M. Edwards, Bruce A. Coers
A combine harvester econometric simulation model was developed with the goal of matching the combine forward speed to the maximum harvested net income per acre. The model considers the machinery management costs of owning a combine and platform header for harvesting wheat. A statistical Design of Experiment (DOE) was used to evaluate the model using tri-level variables; the medium values constituted the model base case. Of the 27 input variables, the optimum speed was significantly influenced by the crop area, G/MOG ratio, grain unit price, field yield, field efficiency, grain moisture content, probability of a working day in the ...