Digital Commons Network^™

The Economics Of The U.S. Student Loan Market And The Case For The Education Development Financial Institution, Ian Akers

CMC Senior Theses

The United States student loan market is shaped by a variety of market failures–credit constraints, positive externalities, behavioral frictions including myopia, debt aversion, and misperception–that together justify government intervention in the market. Yet the design of federal intervention is just as important as its existence. This thesis details the economic theory underpinning the market for student loans, evaluates three historical federal student loan programs (the Perkins Loan Program, the Federal Family Education Loan Program, and the Federal Direct Loan Program) through the lens of that theory. The thesis then proposes a novel institutional model as a targeted response to the …

From Endowment To Extraction: Critical Mineral Governance And Supply-Chain Integration In The Arctic, Charles Bollwerk

CMC Senior Theses

Annexing Greenland, making Canada the 51st State – what’s it all about? Critical minerals are often treated as a geological and national security problem that can be fixed through strength and coercion. This thesis argues that, in the Arctic, governance structures are what determine whether critical mineral wealth becomes strategically useful. Through a comparative qualitative analysis of Greenland, Canada, Alaska, Russia, and the Nordic countries, it examines what drives variation in critical mineral extraction and supply-chain integration across Arctic states, an especially relevant topic as Western states seek to reduce dependence on Chinese-controlled supply chains. The analysis applies four variables …

Pillpetz: A Smarter Way To Encourage Medication Adherence In Children, John H. Begley

CMC Senior Theses

Medication adherence is usually framed as a problem of patient behavior, but this thesis argues that it is equally a problem of design. Children who take daily medication face barriers that adults often do not: developing executive function, dependence on caregivers, shifting school and home routines, privacy concerns, and stigma around being perceived as different. The standard prescription bottle, by contrast, was designed primarily for dispensing efficiency, safety, and accidental ingestion prevention—not for sustained daily use by a developing child.

This thesis proposes PillPetz, a smart pill case and digital companion that uses routine, play, dose confirmation, and caregiver-connected support …

Revenge Of The Interceptors? The Dod, Congress, And The Return Of Space-Based Missile Defense During Trump 45, Chad Mcelroy

CMC Senior Theses

The initiation of the Golden Dome for America program has brought space-based missile defense (SBMD) to the forefront of American national security policy and rekindled debates that had laid dormant since the administration of President Ronald Reagan. How, forty-two years after President Reagan first proposed the Strategic Defense Initiative, did SBMD return as a national priority? In lieu of public information about the ongoing Golden Dome initiative, this thesis explores the first Trump administration, otherwise known as Trump 45, in order to analyze the development of SBMD proposals by its proponents in Congress and the Department of Defense. I used …

Revenue Sharing: Effects On Small Market Teams, Bryant Smaaladen

CMC Senior Theses

The gap between small market teams and big market teams in the MLB

has done nothing but grow in this era, seeing vast differences in payroll and

performance. To try and counteract this, team revenue sharing was introduced in

1996 to try and level the playing field. Revenue sharing was designed to promote

a more competitive balance by redistributing resources from higher revenue

teams towards ones in smaller markets. This study aims to examine the impact

revenue sharing has on team payrolls, and particularly examining the difference

between both markets, by using panel data of teams revenue and the amount …

Algorithmic Trading In Idiosyncratic-Payoff Markets: A Multi-Agent System For On-Chain Prediction Contracts, Saif Aldeen A.K. Agha

CMC Senior Theses

This thesis documents the design, deployment, and forward-test evaluation of an evolutionary multi-agent algorithmic trading system on Polymarket, the largest decentralized prediction market. The system pairs a locally-hosted 72-billion-parameter language model with a gradient-boosted statistical filter and an evolutionary selection mechanism that maintains a population of approximately 500 autonomous trading agents. Each agent generates a probability estimate for an event, compares it to the prevailing market price, and trades the resulting disagreement.

The central empirical exercise estimates a panel regression of trade-level profit on the absolute disagreement between the agent's probability estimate and the market price, controlling for agent identity, …

From Reconstruction To The Carceral State: Law, Labor, And Punishment In Black America, Nicolas S. Changbencharoen

CMC Senior Theses

This thesis examines the reconfiguration of racial and labor subordination in the United States from Reconstruction to the present, arguing that the legal abolition of slavery did not dismantle the economic and institutional structures on which it rested. It traces a continuous trajectory through which law and the criminal justice system were systematically weaponized to reconstitute slavery's essential functions under successive institutional forms, each serving as a deliberate mechanism for the extraction of Black labor in service of private and state interests. The analysis culminates in an examination of the modern carceral state, concluding that contemporary prison labor programs continue …

Goods, Practices, Excellence, And The Law: Steps To An Internal Theory Of Value, Rowan Gray

CMC Senior Theses

Practices are the coherent and complex social activities we spend much of our lives engaging in. This category encompasses everything from figure skating to wine-tasting to friend relationships. We gain immense value from participating in practices, and philosophers have articulated a number of accounts for where the value emerges from and how we can best experience it. Many of these theories are ‘externalist’, because they posit that value is incidental to practices and emerges from outside of them.

In contrast, this thesis will argue that the value in practices is internal to each practice. The value comes from each practice’s …

Interpretable Sample Uncertainty Measures For Ranked-Choice Election Polls, Jason Liang

CMC Senior Theses

Polling results from traditional single-choice plurality elections are readily interpretable. Simple frequentist population parameters are estimated, including each candidate’s total support and the size of the front runner's lead. If the point estimate for the size of the front runner's lead exceeds the margin of error of the lead, we can conclude that the poll shows a statistically significant front runner. However, the interpretability of these population statistics disappears when applied to ranked-choice voting elections. Because ballots rank multiple candidates and candidates are eliminated in rounds, simple population-wide parameters are not well-defined. In RCV elections, a candidate’s ability to win …

Roll The End Credits: Evaluating Georgia And New Jersey’S Movie Production Incentives, Daniella Reyes

CMC Senior Theses

This thesis argues that movie production incentives (MPIs) are high-risk policies that result in limited, and often short-lived, benefits to the state. Using case studies of Georgia and New Jersey, this research evaluates the extent to which MPIs improve film industry employment, tourism, and local economic spending. This thesis also examines the intangible consequences of film industry activity, such as road closures, traffic, and negative portrayals of the jurisdiction on film. Drawing on game theory frameworks, particularly negative-sum and Stackelberg games, the analysis shows how interjurisdictional competition for a highly mobile industry transfers resources to the film industry without delivering …

Decomposing Carbon Intensity In U.S. Imports: Trade Composition Vs. Technological Change From 2000-2019, Alyssa K. Wong

CMC Senior Theses

This paper examines whether the increasing share of U.S. manufactured imports from China between 2000 and 2019 affected the carbon intensity of U.S. consumption. Bilateral trade data from BACI are combined with emissions data from the OECD Inter-Country Input-Output framework to construct a measure of carbon intensity defined as emissions embodied per dollar of imports at a country level. Changes over time are decomposed into composition effects, driven by shifts in import shares, and technique effects, driven by changes in emissions intensity within exporting countries. Carbon intensity declines substantially over the period. While increased imports from China would have raised …

Designed To Please: How Sycophantic Ai Voices Reinforce Gendered Expectations, Zoe O. Feuer

CMC Senior Theses

Scholars have raised concerns that the popularization of feminized, agreeable AI assistants normalizes associations between women and subservient behavior, potentially reinforcing broader gender stereotypes through repeated exposure. This study tested whether AI sycophancy and AI gender shape user perceptions of AI warmth, competence, affective trust, and cognitive trust, and whether interacting with a sycophantic female AI shifts explicit or implicit gender stereotype endorsement. Using a 2 (AI gender: male vs. female) × 2 (sycophancy: high vs. low) between-subjects design, 202 participants completed a simulated travel planning task with a voice-based AI agent. Despite successfully manipulating sycophancy, neither sycophancy nor AI …

School Reopenings And Adhd Medication Utilization: Evidence From Covid-19 Policy Variation, Madeline C. Levey

CMC Senior Theses

This paper investigates how variation in K–12 school reopening policies across U.S. states during the COVID-19 pandemic affected Medicaid-covered ADHD stimulant medication prescriptions. Using an event study and difference-in-differences framework with state and time fixed effects, I exploit variation in the timing and mode of school reopening across states from 2017 to 2022. School reopening data are drawn from a national district-level panel tracking the share of students attending school in-person, hybrid, or virtually; prescription outcomes are from the Centers for Medicare & Medicaid Services State Drug Utilization Data. The event study reveals a sharp decline in ADHD prescriptions at …

Authoritarian Development & Political Economy Of East Asia: The Making Of South Korea’S Developmental Regime, Christopher J. Chung

CMC Senior Theses

This thesis investigates the historical evolution of South Korea's developmental trajectory during the Park Chung-hee era (1961-1979), a period that left an indelible mark on the country's political economy and industrial landscape. Rather than treating Park's regime as its own starting point, this thesis situates it within a longer historical arc beginning with Japanese colonial rule and continuing through Syngman Rhee's aid-dependent republic, arguing that Korea's developmental success was neither institutionally inevitable nor externally engineered, but the product of a historically specific and ideologically driven state-building project. Four primary questions guide this research: what historical conditions shaped the institutional landscape …

Psr Impacts Chromatin Condensation During Spermatogenesis In Nasonia Vitripennis, Jacqueline R. Solomon

CMC Senior Theses

Paternal Sex Ratio (PSR) is a supernumerary, selfish B chromosome found in the jewel wasp (Nasonia vitripennis). PSR is transmitted strictly paternally to progeny, and when present, it causes paternal genome elimination (PGE) just after fertilization. Due to the haplo-diploid reproduction of N. vitripennis, this PGE event results in all-male broods of progeny, ~90% of which carry and transmit PSR. Thus, PGE is beneficial for PSR’s transmission.  A previous study showed that PSR induces PGE by expressing a gene called haploidizer during spermatogenesis. Although how haploidizer functions in PGE is unknown, this finding suggests two basic models: that (i) the …

Exploration Of The Use Of Radiocarbon Time-Series Records As Indicators Of Upwelling Areas, Rena Reshmi Mukherjee

CMC Senior Theses

The Earth’s oceans buffer climate change, regulate weather patterns, sustain global food security, and support biomedical research. Ocean currents redistribute heat and nutrients while promoting genetic diversity, which can serve as a source of novel compounds for biomedical research. Understanding ocean circulation is essential for maintaining these ecosystem services as the climate continues to change. Upwelling, a form of vertical water movement that transports nutrient-rich deep water to the surface, plays a key role in marine productivity and carbon cycling. However, global upwelling patterns remain incompletely mapped. Radiocarbon (14C), a radioactive isotope of carbon, provides a useful tracer of ocean …

Mapping Ubiquitin-Cavitand Binding Interactions Using Ccpnmr Analysis, Mia J. Rhee

CMC Senior Theses

Ubiquitin is a highly conserved 76-residue protein central to proteasomal degradation, DNA repair, and immune regulation. Its dysfunction underlies neurodegenerative diseases and cancer, so it is important to understand how synthetic molecules recognize ubiquitin’s surface at residue level as it has implications for biosensor design and therapeutic targeting. This study performs a quantitative analysis of ubiquitin-cavitand binding interacting using four 1H-15N HSQC NMR titration spectra collected across increasing tetracarboxylate cavitand concentrations (apo, 1:15, 1:2, and 1:3 cavitand:ubiquitin). Using CCPNMR AnalysisAssign, all 73 non-proline backbone amide resonances were assigned against published BMRB reference shifts.The chemical shift perturbations (CSPs) were calculated at …

Top-Tier Venture Capital Backing And Startup Acquisition Speed: Evidence Of Certification Signaling In Private Markets, Nicolas Wilde

CMC Senior Theses

The venture capital market is defined by information asymmetry, and private acquisitions represent the setting where that asymmetry bites hardest. Acquirers evaluating private targets have no prospectus, no analyst coverage, and no independent market price to anchor their judgment. This paper asks whether the reputation of a startup's lead investor shapes how quickly that startup is acquired. Using a sample of 1,000 acquired United States technology startups founded between 2008 and 2016, sourced from Crunchbase, I estimate a cross-sectional OLS regression of months from founding to acquisition on a binary indicator of top-tier venture capital backing based on the 2016 …

Revisionist Political Coalitions, Queering, And The Transmission Of Violence, Tom Y. Inouye

CMC Senior Theses

This thesis examines the ways in which violent non-state actors (VNSAs), specifically revisionist political coalitions (RPCs), emerge from a state-centric international system that denies them access to formal avenues of political advocacy, legitimacy, and recognition. Challenging dominant portraits in international security that cast non-state-perpetrated violence as irrational or deviant, I argue that RPCs turn to brutality as a strategic response to exclusion produced by the Westphalian paradigm. Queer theory, particularly the concepts of legibility and strategic disidentification, is central to the reconceptualization of RPCs as “queered” political objects whose existence falls outside the normative boundaries of sovereignty and legitimacy.

To …

Has The Introduction Of Express Lane Congestion Pricing Affected Residential Housing Prices In The Bay Area?, Francesco Argueta

CMC Senior Theses

This paper estimates the capitalization effect of express lane congestion pricing on residential property values in the San Francisco Bay Area, exploiting the staggered rollout of US-101 express lanes across two phases — Phase 1 (February 2022) and Phase 2 (March 2023) — alongside the single-phase opening of I-880 express lanes (October 2020). Using a two-way fixed effects difference-in-differences (DiD) design with continuous treatment intensity measured as inverse Euclidean distance to the nearest toll segment, I estimate log-linear specifications that yield percentage-interpretable capitalization effects robust to right-skew in Bay Area home values. The preferred log specification finds that neighborhoods in …

Modulating Oran Nitrate-Reducing Bacteria To Enhance Nitric Oxide Bioavailability As A Therapeutic Target For Atherosclerosis, Donovan C. Davidson

CMC Senior Theses

Atherosclerosis remains the primary driver of global cardiovascular disease, yet clinical interventions are largely restricted to high-cost, invasive procedures only after it has reached a critical stage. Recent research has identified a connection between the oral microbiome and vascular health via the enterosalivary nitrate-nitrite-nitic oxide (NO) pathway. Oral nitrate-reducing bacteria (ONRB) drive the synthesization of NO by reducing dietary nitrate into nitrite, which is then converted into bioavailable NO. NO is a potent vasodilator that maintains endothelial health by suppressing inflammation through inhibiting the expression of adhesion molecules VCAM-1 and ICAM-1. However, this pathway is easily compromised by dysbiotic oral …

Not Biological, But Built: Structural And Metabolic Pathways Driving Black Maternal Health Disparities In The United States, Alexandra I. Umegboh

CMC Senior Theses

Black infants in the United States are more than twice as likely to die before their first birthday than white infants, a disparity often attributed to genetics, behavior, or individual health choices. However, this idea is challenged by a key contradiction: African immigrant women consistently experience better birth outcomes than U.S.-born Black women despite being similarly racialized. This thesis investigates the origins of this reproductive advantage and the factors contributing to its decline over time. By drawing on epidemiological data, metabolic health research, and literature on African diasporic healing traditions, it argues that the “healthy immigrant effect” is not biological, …

Balancing The Scales Of Justice: The Unconstitutionality Of Marital Rape In India, Pallavi Raju

CMC Senior Theses

Marital rape remains an unpunished crime in India, despite decades of dispute and litigation. This thesis explores the question of why the state continues to retain the marital rape exception within the Indian criminal code, even though it commits to combat gender based violence in other areas of justice. The research begins with a broader understanding of privatization of women’s rights in the international sphere and culturally sanctioned violence to protect the institution of marriage. With a focus on the legal justifications and language of Indian court cases, this thesis determines that judges adjudicate on gender justice inconsistently. Attempting to …

Ceo Linguistic Stress And Abnormal Stock Returns Evidence From S&P 500 Earnings Conference Calls, Yiqi Sun

CMC Senior Theses

Stress is pervasive among corporate executives, yet its effect on firms' future abnormal return remains largely unexplored. This paper examines whether CEO's Linguistic stress exhibited during earnings conference calls predicts future abnormal stock returns. I provided a Large Language Model (Claude Sonnet 4.6) psychology-backed prompts to analyze CEO stress from linguistic patterns in 7491 earnings call transcripts from 470 companies in the S&P 500 during 2020-2024. I found three main results. First, the CEO linguistic stress is negatively and significantly associated with the immediate market reaction, with a one-unit increase in stress score associated with a 0.9% decrease in the …

A Reevaluation Of South Korea’S Economic Rise: The Defense Industrial Base, Timothy Lee

CMC Senior Theses

This paper seeks to reexamine how the Republic of Korea (ROK) was able to rise from one of the world's poorest economies after the Korean War to a leading international defense exporter today. Existing development theories—such as dependency theory, export-led industrialization, and world-systems theory—each offer partial explanations but none fully accounts for the ROK's rapid economic growth. To address this gap, the paper analyzes U.S. foreign aid data, U.S. national security documents, and the economic data of the ROK’s chaebols, family-owned business conglomerates, to reevaluate two key variables: the United States' strategic imperative to contain communism during the Cold War, …

The Vestiges Of The German Democratic Republic: Memory Politics And Xenophobia In Former East Germany, Diana Zhou

CMC Senior Theses

From the 2015 migration influx onward, xenophobic and nationalist sentiments permeated Germany’s national political discourse. The former socialist territories in eastern Germany have proven particularly susceptible to far-right, anti-immigration, and anti-integration rhetoric. This thesis explores the mnemonic foundations of xenophobic sentiments in former East German states, tracing the development of an antifascist yet ethnically nationalist mnemonic framework to the state-sanctioned myths and invented traditions of the German Democratic Republic (GDR). As the loss of a collective GDR identity produced a reactionary rehabilitation of this framework post-unification, the racial and ethnic “other” — migrants, asylum seekers, and refugees — became constructed …

Lessons Unlearned: Cultural Competence And The Limits Of U.S. Army Doctrine In Iraq And Afghanistan, Kylie W. Ha

CMC Senior Theses

This thesis examines how the absence of comprehensive cultural and linguistic competence within U.S. Army doctrine contributed to operational and ethical failures during the wars in Iraq (2003–2011) and Afghanistan (2001–2021). It focuses on the gap between doctrinal recognition of culture and language and the failure to institutionalize these elements as measurable, force-wide competencies. The thesis analyzes doctrinal publications spanning the period from 2001 to 2014 and finds that, while these publications increasingly acknowledged the importance of cultural awareness, language, and local context—particularly in counterinsurgency operations—these elements were not embedded as standardized requirements across training, planning, or evaluation. Iraq and …

Does Immigration Enforcement Induce Legalization? Replicating And Extending The H-2b Evidence To Agricultural Guest Workers, Katherine E. Schwab

CMC Senior Theses

This thesis examines whether intensified interior immigration enforcement leads employers to increase demand for legal temporary foreign workers through the H-2 guest-worker programs. Using updated administrative data from the Office of Foreign Labor Certification, I first replicate the core findings of Amuedo-Dorantes, Arenas-Arroyo, and Schmidpeter (2021), who find that county-level enforcement significantly raises employer demand for H-2B non-agricultural workers, then apply the same empirical framework to H-2A, the agricultural equivalent.

My replication results are directionally consistent with the original study – the enforcement coefficient on H-2B demand is positive across specifications – though weaker in significance, reflecting routine vintage differences …

Eurovision As A Platform For Cultural Diplomacy In Times Of Conflict, Lucy Meza

CMC Senior Theses

This thesis examines how states utilize the Eurovision Song Contest as a platform for soft power, focusing on the conditions under which cultural performance translates into reputational gains. Drawing on Joseph Nye’s concept of soft power, Biasioli’s theory of songwashing, Zamorano’s typology of cultural diplomacy, Anholt’s competitive identity framework, and Feklyunina’s analysis of identity and narrative, it argues that Eurovision’s effectiveness as a soft power platform is fundamentally contingent on the alignment between a state’s cultural narrative and dominant international perceptions of its legitimacy. Through a qualitative comparative case study approach, the thesis examines two nations whose Eurovision participation during …

The Jamaica That Dreams: A Normative Application Of Developmental Theory, Tamoy Pitt

CMC Senior Theses

This thesis examines Jamaica’s persistent underdevelopment through Martha Nussbaum's normative application of the capabilities approach as per her conception in Creating Capabilities. Through this approach, the paper will argue that Jamaica’s underdevelopment is a result of the failure of its domestic institutions to provide all citizens with the substantive freedoms and capabilities necessary to live lives of dignity. Originally detailed by Amartya Sen in his book Development as Freedom, the capabilities approach posits freedom as both the means and ends to development while rejecting contemporary approaches to development such as GDP, Utilitarianism, or Rawlsian resource-based approaches as insufficient frameworks for …