Ambiguity And Ambiguity Attitudes Across Auctions, 2024 Chapman University
Ambiguity And Ambiguity Attitudes Across Auctions, Cary Deck, Paan Jindapon, Tigran Melkonyan, Mark Schneider
ESI Working Papers
Studies of ambiguity perceptions and attitudes are moving beyond the Ellsberg urn to examine people’s responses to ambiguity in naturally occurring events, games, and financial markets. In this study, we measure ambiguity perceptions and attitudes for market prices and allocations in four classical auction formats (first-price and second-price sealed bid auctions, English and Dutch clock auctions). We find ambiguity attitudes, representing individual preferences, are stable across auctions. However, the perceived ambiguity surrounding auction prices is lowest for English clock auctions which are obviously strategyproof (OSP), followed by second-price auctions which are strategyproof (SP), followed by a tie between first-price and …
Review Of Poverty, By America, 2024 James Madison University
Review Of Poverty, By America, Linda Plitt Donaldson
The Journal of Social Encounters
No abstract provided.
Book Discussion "The War Below: Lithium, Copper, And The Global Battle To Power Our Lives", 2024 College of Saint Benedict and Saint John's University
Book Discussion "The War Below: Lithium, Copper, And The Global Battle To Power Our Lives"
The Journal of Social Encounters
No abstract provided.
Employment And Self-Rated Depression Among Older Persons In Thailand, 2024 Department of Society and Health, Faculty of Social Sciences and Humanities, Mahidol University, Thailand
Employment And Self-Rated Depression Among Older Persons In Thailand, Seung Chun Paek, Ning Jackie Zhang
Journal of Health Research
Background: Increasing attention has been paid to productive engagement as an important protective factor against depression in older persons. This study assessed the impact of employment on self-rated depression among older persons in Thailand using a matched sample obtained from a propensity score matching method.
Methods: This study involved a cross-sectional secondary data analysis using the 2019 Health and Welfare Survey dataset. Descriptive analysis and ordered logistic regressions were used.
Results: The effect of employment was negative for self-rated depression with an adjusted odds ratio (AOR) of 1.417. This indicates that employment could reduce self-rated depression among older …
Optimal Inference For Spot Regressions, 2024 Duke University
Optimal Inference For Spot Regressions, Tim Bollerslev, Jia Li, Yuexuan Ren
Research Collection School Of Economics
Betas from return regressions are commonly used to measure systematic financial market risks. "Good" beta measurements are essential for a range of empirical inquiries in finance and macroeconomics. We introduce a novel econometric framework for the nonparametric estimation of time-varying betas with high-frequency data. The "local Gaussian" property of the generic continuous-time benchmark model enables optimal "finite-sample" inference in a well-defined sense. It also affords more reliable inference in empirically realistic settings compared to conventional large-sample approaches. Two applications pertaining to the tracking performance of leveraged ETFs and an intraday event study illustrate the practical usefulness of the new procedures.
St. Cloud Area Quarterly Business Report, Vol. 26, No. 1, 2024 St Cloud State University
St. Cloud Area Quarterly Business Report, Vol. 26, No. 1, King Banaian, Mana Komai Molle
St. Cloud Area Quarterly Business Report
Area employment is expected to experience only a normal seasonal increase through mid-year. Survey results were slightly better than the most recent quarter. Significant pressures exist to increase wages, and in some cases firms did not think they could raise prices as well. Firms were evenly split between thinking affordable childcare and workforce housing were the most needed policies to address workforce needs.
(Trade) War And Peace: How To Impose International Trade Sanctions, 2024 Singapore Management University
(Trade) War And Peace: How To Impose International Trade Sanctions, Gustavo De Souza, Naiyuan Hu, Haishi Li, Yuan Mei
Research Collection School Of Economics
What is the most cost-efficient way to impose trade sanctions against Russia? We build a quantitative model of international trade with input–output connections. Sanctioning countries choose import tariffs to simultaneously maximize their income and minimize Russia's income, with different weights placed on these objectives. We find, first, that for countries with low willingness to pay for sanctions against Russia, the most cost-efficient sanction is an approximately 20% tariff on all Russian products. Second, if countries are willing to pay at least US$0.70 for each US$1 drop in Russian welfare, an embargo on Russia's mining and energy products is the most …
Collectible Pricing And Collector Utility: The Role Of Production Commitments, 2024 Shippensburg University
Collectible Pricing And Collector Utility: The Role Of Production Commitments, Corey J.M. Williams, Kole Reddig, Adam Nowak
Economics Faculty Working Papers Series
This paper investigates the effect of production commitments on consumers of collectable goods. Using data on prices for Magic: The Gathering trading cards, we estimate that the reprinting of certain card varieties caused a 34% decrease in the relative price of reprinted cards. We interpret this estimate with a model of a forward-looking consumer that views collectibles as both a source of enjoyment and a store of wealth. Using a mapping between structural parameters of the model and difference-in-differences regression parameters, we compute lifetime discounted utility decreased by as much as 14% for collectors holding mainly reprinted cards.
Covid-19 And Its Impact On Multinational Enterprises: A Modified Value At Risk Approach, 2024 Salisbury University
Covid-19 And Its Impact On Multinational Enterprises: A Modified Value At Risk Approach, Kashi Khazeh, Leonard Arvi, Robert C. Winder
Journal of Global Business Insights
Multinational enterprises (MNEs) operating across different currencies are exposed to exchange rate risk. They may utilize a variety of tools to mitigate that risk. While there are different types of exchange rate risk, this study focuses specifically on the ongoing exposure of cash flow transactions denominated in the currencies of seven different developed countries. Since other types of risk (i.e., economic and translation) are evaluated based on yearly results, they are not considered in this study. The modified value-at-risk (MVaR) model is employed to estimate the maximum one-period losses during the eighteen months before the onset of the COVID-19 pandemic …
Taking Pleasure In Distinction: Unlocking Specialty Coffee Preference, 2024 Breda University of Applied Sciences
Taking Pleasure In Distinction: Unlocking Specialty Coffee Preference, Ondrej Mitas, Danny D. Han, Belle Struijer, Lotte Willems, Thomas H. Chatwick
Journal of Global Business Insights
Specialty coffee, comprising a tenth of the global coffee trade, is distinguished by its strict quality requirements and traceable origins. The diverse flavor profiles of specialty coffee raise demands on providers to serve individual taste preferences. Prior research has not sufficiently explored how to predict customer preferences for specific flavor profiles or how these preferences influence behavioral intentions such as revisiting or recommending a café. This study hypothesized that customer involvement, the extrinsic factors of coffee experience, and culinary risk-taking would predict flavor preference, which would in turn affect behavioral intentions. In an experiment involving 47 participants, individuals tasted and …
Broadly Shared Local Economic Success Since 2000: New Measures And New Lessons For Communities, 2024 W.E. Upjohn Institute for Employment Research
Broadly Shared Local Economic Success Since 2000: New Measures And New Lessons For Communities, Timothy J. Bartik, Brad J. Hershbein, Kathleen Bolter, Kyle Huisman, W.E. Upjohn Institute For Employment Research
Reports
In recent decades, many local labor markets—especially those in former industrial areas—have experienced lagging employment rates, hourly wages, and annual earnings. Even in places that have thrived, disadvantaged racial and ethnic groups and those with less education have often fared poorly, and long-term growth has bypassed many Americans at the middle and bottom of the income distribution. This report examines the relative economic success over the past two decades (prior to the COVID pandemic) of different local labor markets throughout the United States, both for residents overall and for those of different demographic groups. We construct a new, publicly available …
Bootstrap Inference For Quantile Treatment Effects In Randomized Experiments With Matched Pairs, 2024 Singapore Management University
Bootstrap Inference For Quantile Treatment Effects In Randomized Experiments With Matched Pairs, Liang Jiang, Xiaobin Liu, Peter C B Phillips, Yichong Zhang
Research Collection School Of Economics
This paper examines methods of inference concerning quantile treatment effects (QTEs) in randomized experiments with matched-pairs designs (MPDs). Standard multiplier bootstrap inference fails to capture the negative dependence of observations within each pair and is therefore conservative. Analytical inference involves estimating multiple functional quantities that require several tuning parameters. Instead, this paper proposes two bootstrap methods that can consistently approximate the limit distribution of the original QTE estimator and lessen the burden of tuning parameter choice. Most especially, the inverse propensity score weighted multiplier bootstrap can be implemented without knowledge of pair identities.
Who Watched Pre/Post-Lecture Tutorial Videos? Does Flipped Learning Help Beginners In Economics?, 2024 Singapore Management University
Who Watched Pre/Post-Lecture Tutorial Videos? Does Flipped Learning Help Beginners In Economics?, Bei Hong
Research Collection School Of Economics
The modern-day classroom is characterized by academic diversity, with students from varied backgrounds and with different levels of prior knowledge. To cater to the diverse abilities of students, this paper explored the use of flipped learning as a teaching approach in an introductory economics course. We investigated the effectiveness of 40 pre-lecture videos covering basic concepts and 27 post-lecture tutorial videos focusing on practice in improving students' exam outcomes, especially for beginners in economics who may require more support from instructors than other students. We collected data about video engagement and students' grades in progress assessments. Surveys were conducted to …
The Distributional Impacts Of Transportation Networks In China, 2024 Singapore Management University
The Distributional Impacts Of Transportation Networks In China, Lin Ma, Yang Tang
Research Collection School Of Economics
We document that the quality of roads and railroads vary substantially over time and space in China, and neglecting these variations biases the distributional impacts of transportation networks. To account for quality differences, we construct a new panel dataset and approximate quality using the design speed of roads and railroads that varies by vintage, class, and terrain at the pixel level. We then build a dynamic spatial general equilibrium model for multiple modes, transportation routes, and forward-looking migration decisions. Our findings demonstrate that disregarding quality differences leads to a median bias of approximately 31% in estimating real wage growth rates …
Robust Inference On Correlation Under General Heterogeneity, 2024 Singapore Management University
Robust Inference On Correlation Under General Heterogeneity, Liudas Giraitis, Yuefei Li, Peter C. B. Phillips
Research Collection School Of Economics
Considerable evidence in past research shows size distortion in standard tests for zero autocorrelation or zero cross-correlation when time series are not independent identically distributed random variables, pointing to the need for more robust procedures. Recent tests for serial correlation and cross-correlation in Dalla, Giraitis, and Phillips (2022) provide a more robust approach, allowing for heteroskedasticity and dependence in uncorrelated data under restrictions that require a smooth, slowly-evolving deterministic heteroskedasticity process. The present work removes those restrictions and validates the robust testing methodology for a wider class of innovations and regression residuals allowing for heteroscedastic uncorrelated and non-stationary data settings. …
The Interplay Of Interdependence And Correlation In Bilateral Trade, 2024 Singapore Management University
The Interplay Of Interdependence And Correlation In Bilateral Trade, Takashi Kunimoto, Cuiling Zhang
Research Collection School Of Economics
Crémer and McLean (1988) show that the seller can extract full surplus almost always by an incentive compatible, individually rational mechanism in a single-unit auction model with a finite type space in which agents' beliefs are correlated and their valuations can be interdependent. We first show that this paradoxically positive result can be extended to a model of bilateral trades. To make it more realistic, we investigate when ex-post efficiency and ex-post budget balance in bilateral trades can also be achieved by an incentive compatible, individually rational mechanism. We identify a necessary condition for the existence of such mechanisms and …
“Safe” Annuity Retirement Products And A Possible Us Retirement Crisis, 2024 University of Louisville
“Safe” Annuity Retirement Products And A Possible Us Retirement Crisis, Thomas E. Lambert, Christopher B. Tobe
Faculty Scholarship
This paper examines a looming possible crisis in many Americans’ retirement plans due to the proliferation of annuity products in their retirement investment portfolios. As defined benefit pension plans have almost completely disappeared as a means of retirement savings and have been replaced by defined contribution retirement plans over the last 40 to 50 years, a great number of private and public sector defined contribution retirement plans have become laden with insurance contracts called annuities. Of the remaining solid defined benefit plans many, through a process called Pension Risk Transfer are being converted to high-risk single entity annuities. Such products …
Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, 2024 University of Louisville
Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, Thomas E. Lambert
Faculty Scholarship
The Commonwealth of Kentucky currently has 5 thoroughbred racing tracks and 3 harness racing tracks (Kentucky Horse Racing Commission 2023 and Mint Julep Louisville 2021). As Table 1 below shows, the industry employees roughly 7,000 people (direct jobs), and these jobs annually support another 2,000 jobs or so throughout the state. These 2,000 jobs are jobs that are provided by the suppliers to the horse race tracks (indirect jobs) and jobs that are created by the spending of the race track employees and the employees of suppliers on food, housing, transportation, and clothing by vendors and retailers throughout the state …
Borderplex Business Barometer, Volume 8, Number 3, 2024 University of Texas at El Paso
Borderplex Business Barometer, Volume 8, Number 3, Thomas M. Fullerton Jr., Steven L. Fullerton
Border Region Modeling Project
No abstract provided.
Chinese Digital Platform Companies’ Expansion In The Belt And Road Countries, 2024 University of Kentucky
Chinese Digital Platform Companies’ Expansion In The Belt And Road Countries, Yujia He
Patterson School of Diplomacy and International Commerce Faculty Publications
The emergence of digital platforms is shifting the digital economy toward a platform economy, and Chinese platform-based businesses like Alibaba, Tencent, and JD are increasingly expanding in the Global South. Alongside this, the Chinese government has been promoting digital economy collaboration with emerging markets through high-level engagement under the banner of the Belt and Road Initiative (BRI) and its digital economy component the Digital Silk Road (DSR). Despite significant market interest and policy attention, grounded empirical analysis of Chinese digital platforms’ expansion within Belt and Road Initiative countries is scarce. This study employs a mixed-methods approach, drawing on both quantitative …