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 …
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 …
The Influence Of Societal Nationalist Sentiment On Trade Flows,
2024
University of Melbourne
The Influence Of Societal Nationalist Sentiment On Trade Flows, Douglas Dow, Ilya Cuypers
Research Collection Lee Kong Chian School Of Business
In recent years, the world has witnessed a backlash against globalization and a rise in populist and nationalist movements around the world. However, there appears to be little empirical research concerning how these movements, and especially nationalist sentiment, actually influence trade. Therefore, we explore how and when nationalist sentiment within a country influences trade. Our results indicate that the effect of nationalist sentiment on imports is mediated by lower participation in free trade agreements (FTAs) but not via tariffs. Furthermore, we are unable to confirm support for a direct effect of nationalist sentiment on imports, as predicted by the consumer …
“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 …
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
Cremer 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 …
Migration And Resource Misallocation In China,
2024
Nanjing University of Posts and Telecommunications
Migration And Resource Misallocation In China, Xiaolu Li, Lin Ma, Yang Tang
Research Collection School Of Economics
We structurally estimate the firm-level frictions across prefectures in China and quantify their aggregate and distributional implications. Based on a general equilibrium model with input and output distortions and migration, we show that the firm-level frictions are less dispersed and less correlated with firm productivity in richer prefectures. Counterfactual exercises show that reducing the within-prefecture misallocation increases aggregate welfare, discourages migration toward large prefectures, and reduces spatial inequality. Moreover, internal migration alleviates micro-frictions’ impacts on aggregate welfare and worsens their effects on spatial inequality.
Panel Data Models With Time-Varying Latent Group Structures,
2024
Singapore Management University
Panel Data Models With Time-Varying Latent Group Structures, Yiren Wang, Peter C. B. Phillips, Liangjun Su
Research Collection School Of Economics
This paper considers a linear panel model with interactive fixed effects and unobserved individual and time heterogeneities that are captured by some latent group structures and an unknown structural break, respectively. To enhance realism, the model may have different numbers of groups and/or different group memberships before and after the break. With preliminary nuclear norm regularized estimation followed by row- and column-wise linear regressions, we estimate the break point based on the idea of binary segmentation and the latent group structures together with the number of groups before and after the break by sequential testing K-means algorithm simultaneously. It is …
Interim Regret Minimization,
2024
Singapore Management University
Interim Regret Minimization, Wei He, Jiangtao Li, Kexin Wang
Research Collection School Of Economics
We consider a robust version of monopoly pricing when the seller only knows the bound on valuations and the mean of the distribution of the buyer’s value. The seller seeks to minimize interim regret, the forgone expected revenue due to not knowing the distribution of the buyer’s value. The optimal pricing policy randomizes over a range of prices; the support of the pricing policy is bounded away from zero.
Robust Implementation In Rationalizable Strategies In General Mechanisms,
2024
Singapore Management University
Robust Implementation In Rationalizable Strategies In General Mechanisms, Takashi Kunimoto, Rene Saran
Research Collection School Of Economics
A social choice function (SCF) is robustly implementable in rationalizable strate-gies if every rationalizable strategy profile on every type space results in outcomes consistent with it. First, we establish an equivalence between robust implementation in rationalizable strategies and “weak rationalizable implementation”. Second, using the equivalence result, we identify weak robust monotonicity as a necessary and al-most sufficient condition for robust implementation in rationalizable strategies. This exhibits a contrast with robust implementation in interim equilibria, i.e., every equilib-rium on every type space achieves outcomes consistent with the SCF. Bergemann and Morris (2011) show that strict robust monotonicity is a necessary and …
Empowering Voices: Exploring The Career Trajectories Of Women Of Color Hr Professionals Amid Disruptive Change,
2024
Abilene Christian University
Empowering Voices: Exploring The Career Trajectories Of Women Of Color Hr Professionals Amid Disruptive Change, Brandi R. Muñoz
Electronic Theses and Dissertations
This study investigated strategies to enhance diversity, equity, inclusion, and belonging initiatives in organizational leadership, focusing on supporting women of color in the workplace. The specific problem addressed was the underrepresentation and barriers faced by women of color in leadership positions despite their potential contributions to organizational success. The study employed a qualitative approach, combining qualitative interviews with socioeconomic data analysis. Data collection methods included semistructured interviews with women of color and a survey to gather demographic and employment information. The sample consisted of 16 women of color human resource professionals working in various industries and organizational settings across the …
The Economic Costs Of Political Instability: Evidence From Pakistan,
2024
National Textile University (NTU)
The Economic Costs Of Political Instability: Evidence From Pakistan, Shahid Hussain, Falik Shear
Business Review
This study analyses the impact of Political Instability (PI) on economic growth. PI is referred as the frequent regime or government changes in a country. PI affects economic growth due to inconsistent and uncertain government policies regarding investment and trade, tax system, government spending and fiscal balance, debt structure, monetary policy, exchange rates and inflation. PI coupled with these factors affects internal and external investments and ultimately future economic growth rates. Employing data from Pakistan for the period of 1984-2018, a country with a long history of various episodes of political instability under various democratic and non-democratic regimes, this study …
