Digital Commons Network^™

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 …

Do The Oscars Move Markets? Best Picture Recognition And Public Equity Responses, Avi Dayani

CMC Senior Theses

This thesis examines when culturally salient events become financially material by testing whether Academy Awards recognition is reflected in public equity markets. The central question is whether Best Picture nomination announcements and wins generate abnormal returns or abnormal trading activity for the publicly traded parent firms linked to nominated films, and whether those responses depend on the firm’s exposure to filmed entertainment. I study Best Picture nominees from 2000 through 2024, map each film to the public parent of its primary distributor, and construct a firm-by-Oscar-year sample of 119 observations. Using an event-study framework, I calculate abnormal returns as firm …

Assessing The Feasibility Of Small Modular Reactor Deployment On Islands In Southeast Asia And The Pacific, Hayden C. Beauchemin

CMC Senior Theses

This study looks at the feasibility of using Small Modular Reactors (SMRs) to provide island microgrids in Southeast Asia and the Pacific with clean, reliable electricity. SMRs are compared to current methods of electricity generation, namely diesel generators, as well as to renewable alternatives. Policymakers will face geopolitical, technical, economic, and domestic political challenges to SMR deployment. The key considerations of SMRs, including economic viability, safety approaches, public attitudes, and diplomatic relations are considered, and solutions are identified for issues such as financing and nuclear waste disposal. The analysis reinforces the conclusion that SMR deployment is feasible for islands in …

Too Much Of A Good Thing? Generic Entry, Drug Prices, And The Innovation Tradeoff, Kiara Jacob

CMC Senior Theses

This paper examines how the number of generic competitors affects generic drug prices and whether generic markets exhibit a competition threshold beyond which additional entry produces little further price reduction. Using monthly NADAC price data and FDA Orange Book manufacturer records, I construct a molecule-month panel of 17 molecules across four therapeutic classes from 2013 to 2023, restricted to generic price observations. Fixed-effects regressions show that generic competition is associated with substantial price declines: each additional generic manufacturer is associated with a 7.2 log-point reduction in average acquisition price. The main threshold specification shows that prices are approximately 49 percent …

Intermittent High-Fat, High-Sugar Access During Adolescence Drives Binge-Restriction Feeding And Reduced Weight Gain In A Food Unpredictability Model, Calvin G. Miller

CMC Senior Theses

Food insecurity affects nearly 48 million Americans and 318 million people worldwide, with very low food security disrupting normal eating habits through “feast-or-famine” episodes characterized by cycles of food overconsumption followed by restriction. This dietary pattern alters dopamine signaling within the mesocorticolimbic system — brain circuitry intimately linked to reward processing. This system includes the ventral tegmental area (VTA) and prefrontal cortex (PFC). Overstimulation can be promoted through sporadic high-fat, high-sugar diet (HFHSD) exposure, promoting dopamine neuron architecture alterations and binge-eating behavior. Adolescence represents a vulnerable window, as mesocorticolimbic dopamine projections undergo maturation during this period. Though evidence links food …

Understanding The Flow: Deconstructing The Link Between Immigrants And Fentanyl, Madeline F. Nesbitt

CMC Senior Theses

This thesis explains how a false link between undocumented immigration and fentanyl becomes widely accepted in the United States. Empirical data show that most fentanyl enters through legal ports of entry and that U.S. citizens account for the majority of those caught transporting it. Why, then, do 41% of Americans attribute overdose deaths to migrants trafficking fentanyl? This project examines how this myth is built, repeated, and sustained, and what policy consequences follow from it.

When complex social problems lack clear culprits, political actors often manufacture them through scapegoating. Current literature documents how political actors link immigrants to drug crimes, …

Adolescent Binge-Like Feeding And Neuroinflammation: Effects Of Intermittent Palatable Diet Access On Microglial Activation In The Brain In Adolescents, Jaimie T. Yu

CMC Senior Theses

Binge eating disorder (BED), one of the most common eating disorders in the United States (Definition & Facts for Binge Eating Disorder - NIDDK, n.d.), is characterized by recurrent episodes of consuming large quantities of food in a short period of time accompanied by a sense of loss of control. The intermittent access (INT) model reliably produces binge-like eating in adult rodents, with animals showing episodic hyperphagia upon time-limited access to a high-fat, high-sugar (HFHS) diet. In adult female rats, INT access produces elevated meal size and reduced satiety ratio relative to controls (Maske et al., 2020), and promotes microglial …

Diplomatic Gaps And Global Finance: How U.S. Ambassadorial Vacancies Affect Bilateral Portfolio Investment Positions, Tianning Qin

CMC Senior Theses

This paper examines how the absence of U.S. ambassadors impacts bilateral portfolio investment positions held by investors in the United States and counterpart countries. The panel dataset spans 2001 to 2019, covering 56 counterpart countries in terms of portfolio investment positions held by foreign investors in U.S. securities and 102 counterpart countries in terms of portfolio investment positions held by U.S. investors in foreign countries. Using the instrumental variable approach, the results show that a prolonged vacancy lasting at least three months in a year causes sizable and significant reductions in portfolio investments held by foreign investors in U.S. securities. …

Volatility Modeling With An Application To Risk Parity Portfolios, Kenneth Hou

CMC Senior Theses

This thesis studies volatility modeling in the context of risk parity portfolio construction. I compare three risk parity portfolios that differ only in their underlying volatility model: a historical covariance baseline, a Bayesian stochastic volatility model, and a GRU–GARCH hybrid neural network. Using daily returns on Kenneth French’s five industry portfolios from January 2016 through December 2025, I construct monthly rebalanced portfolios under each model, with the SV and GRU forecasts embedded in hybrid covariance matrices that combine forecasted volatilities with rolling historical correlations. The results document a divergence between forecast accuracy and portfolio performance: the SV model is the …

Hidden Fragility: Leveraged Loan Risk And Tail Exposure In The Clo 2.0 Era, Francis P. Gehring Iv

CMC Senior Theses

This thesis examines whether post-crisis changes in leveraged loan characteristics have increased the underlying credit risk embedded in collateralized loan obligation (CLO) portfolios and whether that risk is fully reflected in market pricing. Since the Global Financial Crisis, the leveraged loan market has expanded significantly alongside the growth of CLOs, while underwriting standards have weakened through higher borrower leverage, covenant-lite lending, and greater private equity sponsorship. Although post-crisis CLOs are often viewed as more resilient because of stronger structural protections, the quality of the underlying collateral remains central to overall risk. Using loan-level data from the Refinitiv DealScan database from …

Converging, But Not Together: Regional Growth After Eu Enlargement, Armine Kardashyan

CMC Senior Theses

This paper studies whether poorer regions in Central and Eastern Europe have caught up to richer ones since EU enlargement, and whether any observed catch-up reflects absolute convergence or convergence conditional on regional fundamentals. Using annual NUTS-3 data for eleven Central and Eastern European member states from 2000 to 2023, I estimate rolling ten-year convergence regressions within a steady-state framework in which regional GDP per capita depends on investment, human capital, and within-window exposure to EU membership.

The results show strong evidence of conditional convergence during the early and middle phases of enlargement. Regions that begin a window above their …

Tilting The Playing Field: Executive Attacks On Big Law Firms As A Mechanism Of American Competitive Authoritarianism, Sajah Ali

CMC Senior Theses

This thesis examines how President Donald Trump’s executive campaign against elite law firms, collectively known as “Big Law,” serves as a concrete case study of competitive authoritarianism in action. Drawing on Steven Levitsky and Lucan Way’s framework in their work The Path to American Authoritarianism, this thesis applies their four pillars of competitive authoritarianism to the administration’s executive orders targeting major law firms and maps those pillars onto three distinct firm responses: fighting back, capitulation, and quiet retreat. Situating this case study within the broader political context of Trump’s second term, this thesis finds that while the United States has …

Morals Without Movement: Veganism, Contentious Politics, And The Lifestyle Politics Constraint, Luke M. Carfaro

CMC Senior Theses

This thesis examines whether veganism constitutes a social movement through Social Movement Theory frameworks, emphasizing Sidney Tarrow's Power in Movement. Through analysis of veganism's empirical properties (collective challenge, common purpose, collective identity, and sustained interaction) and key procedural mechanisms (framing, mobilizing structures, and repertoires of contention), this thesis determines that veganism fails to meet the empirical criteria of a social movement and is more accurately classified as a lifestyle movement—a movement in which political participation is expressed through private consumption rather than sustained collective contention. Using the Make America Healthy Again movement as a counterexample, this thesis comparatively illustrates …

Rank Rebalancing In Commodity And Foreign Exchange Markets, Prateek D. Vyas

CMC Senior Theses

This thesis empirically tests the rank-rebalancing mechanism of Stochastic Portfolio Theory (SPT) across commodity futures, foreign exchange futures, and equity ETFs. The Reverse Price-Weighted strategy (RPW) assigns, to each asset, the market weight of the asset at the opposite price rank, and generates an annualized excess return of 2.90% over the price-weighted (MKT) commodity benchmark, during the period of November 1977 to October 2025 (HAC t = 2.058, p = 0.040). The differential Sharpe ratio (dSharpe) of 0.245 is confirmed by a stationary block bootstrap, with a 𝑝-value of 0.015, and factor regressions controlling for carry, momentum, and value yield …

Cultural Dissonance: Western Hierarchical Structures In Unesco’S Representative List Of The Intangible Cultural Heritage Of Humanity, Chumnan J. Sangsvang Iii

CMC Senior Theses

This paper explores how the heritage ideologies of the academic and legal traditions of the “West” have exerted influence over the modern conception of heritage in order to fulfill their own ideas of value. It uses a combination of anthropological theory, ethnographic research, and international law to analyze this phenomenon, first identifying the theory and history behind culture, heritage, and civilization in international law. The paper then goes on to analyze UNESCO’s ICH designation and the consequences of Western heritage construction from 4 case studies, each variably removed from the West: Cases from Greece, Uruguay, Malawi, and Tonga will identify …

Bitcoin And The American Conflict Over Money And Property, Jacob Smagula

CMC Senior Theses

I argue that Bitcoin is the latest expression of the recurring American conflict over who controls the terms of money and property, and that the political coalition formed around Bitcoin shares the same characteristics as earlier coalitions formed around this struggle. I review three historical cases that each produced a coalition opposing the existing monetary order: the Bank War of the 1830s, the Free Silver movement of the 1890s, and the populist backlash against the Federal Reserve during the 1979 Farm Crisis and the 2008 Great Recession. I find that Bitcoin’s architecture, which allows for self-custody, permissionless access, and an …

More Than A Lawyer: Participation, Representation, And Outcomes In Los Angeles Debt Collection Court, Josephine V. Aspromonte

CMC Senior Theses

This paper estimates the effect of legal representation on case outcomes using 531,959 limited-jurisdiction debt-collection cases filed in the Los Angeles Superior Court between 2012 and 2022. Defendants are classified into three groups: those who defaulted without responding, those who responded pro se, and those who retained counsel. Because defendants are not randomly assigned to representation, three estimation strategies address selection bias: a binary logit, a multinomial logit with text-mined docket covariates, and propensity score matching on pre-treatment characteristics.Three findings emerge. First, the binary logit associates representation with a 10 to 13 percentage point reduction in default probability, but matching …

From Governed To Subjected: The Supreme Court And The Collapse Of Rule-Of-Law Adjudication, Katherine E. Schwab

CMC Senior Theses

This thesis argues that the Supreme Court is producing a structural crisis in rule-of-law adjudication through three converging mechanisms: the expanded use of the shadow docket, the cynical appropriation of precedent, and the dominance of strict originalism. Each independently undermines the conditions that distinguish legitimate governance from the mere exercise of coercive power. Together, they replace the general, stable, publicly intelligible norms the rule of law requires with the successive pronouncements of whoever currently holds interpretive power.

The thesis develops its argument in three stages. First, drawing on Antonin Scalia's account of rule-like precedent and Jeremy Waldron's layered theory of …

The Zoom Town Effect Of Remote Work On Rural Housing Markets, Luc R. Fabing

CMC Senior Theses

I study the impact of remote work on rural housing markets, highlighting the moderating role of outdoor recreation amenities. Using panel data from the American Community Survey and Zillow (2010–2024), I employ a Two-Way Fixed Effects model and a shift-share instrumental variable strategy to estimate the effect of work-from-home (WFH) rates on home prices. I find that higher WFH rates are strongly associated with higher home prices in high-recreation counties, but that the association is weak or negative in counties lacking significant recreation amenities. These findings point to amenity migration as a key mechanism through which remote work impacts rural …

The Effects Of Community Benefit Mandates On Capital Asset Investment: An Application To Non-Profit Hospitals In Illinois, Sophie C. Podeszwa

CMC Senior Theses

Non-governmental, non-profit hospitals receive significant property tax exemptions in exchange for providing community benefits. The consequences of requiring non-profit hospitals to spend a higher community benefits minimum in order to receive property tax exemption are poorly understood. This paper asks whether the 2012 Illinois community benefits minimum policy change, as written in statute 35 ILCS 200/15-86, reduced non-profit hospital investment in the capital assets of land, buildings, and equipment. Using a difference-in-difference design that exploits the 2012 Illinois policy change as a natural experiment, non-profit hospital investment in Illinois is compared to non-profit hospital investment in all other U.S. states …

A New Playbook: The Procedural Resilience Of Oregon’S Rooney Rule In The Wake Of Students For Fair Admissions V. Harvard, Jada I. Cook

CMC Senior Theses

This article evaluates the constitutionality of Oregon’s codified Rooney Rule considering the Supreme Court’s decision to end affirmative action in Students for Fair Admissions (SFFA) v. Harvard. Passed in 2009, the Oregon mandate requires public universities to include at least one minority applicant in the interview process for all head coaching vacancies. By analyzing the architectural origins of the Rooney Rule within the National Football League (NFL) and the systemic racial exclusion it sought to dismantle, this research explores whether interview-stage mandates, that are applied at the state level, can survive the rigorous application of the strict scrutiny standard. …

Salary Caps And The Valuation Of U.S. Professional Sports Teams, Chase J. Cioe

CMC Senior Theses

This thesis examines whether salary caps affect the valuation of professional sports franchises in the NBA, NFL, and MLB over the 2003–2024 period. Amid ongoing debate over whether salary caps create financial value or simply redistribute it, this study asks whether capped leagues command a valuation premium relative to uncapped leagues. Using a balanced panel of 92 teams and 2,024 observations, the analysis employs random effects, league fixed effects, system GMM, and three natural experiments to identify the cap premium. The primary dependent variable is the year-over-year log growth in franchise value, d.ln(FV) = ln(FVt/FVt-1), which is stationary by design …

Microbial Community Structure In Global Soils, Matthew Jabro

CMC Senior Theses

Soil harbors the most diverse microbial communities on Earth, yet whether predictable community types exist across biomes and whether taxonomic composition encodes habitat of origin remain open questions at global scale. This thesis addresses both questions by applying unsupervised clustering and supervised classification to transformed 16S ribosomal RNA (rRNA) amplicon profiles from two independent datasets: the global topsoil survey of Bahram et al. (193 samples) and the Earth Microbiome Project (EMP) soil subset of Thompson et al. (2,209 samples). Application of a sample clustering method based on a mixture of Gaussian Graphical Models (MixGGM) identified 19 clusters in the topsoil …

Using Eye Tracking To Explore How Auditory-Visual Chunking Modulates Visual Search Strategies In Expert Musicians In The Presence Of Auditory Interference, Nicole Arco

Electronic Theses & Dissertations (2024 - present)

Experts show performance advantages during visual search due to their extensive experience with domain-specific stimuli. Experts form memory representations for meaningful visual patterns, called chunks, that group together multiple domain-specific features into larger patterns. The ability of experts to form chunks could allow them to more precisely encode a search template, which could facilitate visual search performance. In the domain of music reading, expert musicians might form chunks that are multimodal (i.e., using visual and auditory modalities). The current studies addressed the possibility that chunks are multimodal by extending a previous cross-modal visual search task to manipulate the presence of …

Prediction Markets Vs. Sportsbooks: A Comparison Of Nfl Forecast Accuracy, Dylan Cotti

CMC Senior Theses

This paper compares the forecast accuracy of Kalshi, a prediction market, and DraftKings, a sportsbook, using data from 285 NFL games in the 2025-26 season. I collect win probabilities from both platforms at three time points in the week before each game and measure accuracy using the Brier score. I find that Kalshi produces slightly more accurate predictions than DraftKings, but the gap is small and marginally significant. More surprisingly, both platforms become less accurate as the game approaches rather than more accurate. Once I control for differences in how each platform distributes its quoted probabilities, the accuracy gap largely …

Why Dining Out Stayed Cheap In Japan, Taketo Hayashi

CMC Senior Theses

This thesis examines why food-away-from-home inflation in Japan was persistently lower than in the United States from 1995 to 2021 and why this dynamic changed after 2021 during the COVID-19 pandemic. Two structural buffers sustained the divergence: wage stagnation in Japan, which kept restaurant labor costs flat for nearly three decades, and a strong yen, which absorbed global commodity price shocks before they could reach restaurant menus. In 2008, the financial crisis sent food and energy prices skyrocketing. However, even though Japan imports most of its food and energy, the effects from global price increases were due to a strong …

Hepatitis C Among Persons Who Inject Drugs In New York State: Progress Towards Elimination, Meredith A. Barranco

Electronic Theses & Dissertations (2024 - present)

Background: Hepatitis C virus (HCV) infection is one of the leading causes of liver disease in the United States (US) and worldwide. In the United States today, HCV is transmitted primarily through injection drug use (IDU) and therefore disproportionately impacts persons who inject drugs (PWID), a population with a range of complex social and health needs. HCV is not vaccine-preventable but can be cured in over 90% of cases with an 8–12-week course of daily direct-acting antiviral (DAA) medication. Since approval of curative medications in 2014, various jurisdictions have developed plans to eliminate HCV. In 2021, the New York State …

Rethinking Reentry In The United States: A Comparative Analysis Of Incarceration Strategies In Norway, Singapore, And Austria, Amelia Ulmer

CMC Senior Theses

The prison reentry system in the United States remains a pressing social, economic, and political issue, as hundreds of thousands of prisoners are released each year with few resources to assist them with their transition. In fact, these previously incarcerated people are arguably set up to fail, which leads to over half of them reoffending within two years. This thesis analyzes how the United States should reform its current prison system based on lessons learned from three international case studies. These three case studies, Norway, Singapore, and Austria were chosen as countries that have globally low recidivism rates and unique …

Procedural Rhetoric And Prosociality: How Game Mechanics Shape Altruistic Decision-Making, Elijah Emory-Muhammad

CMC Senior Theses

This study investigates how different prosocial video game designs influence subsequent altruistic behavior, specifically comparing interactive narratives with procedural rhetoric. While prior research demonstrates that prosocial games can prime helpful behaviors, less is known about the underlying mechanical structures driving these effects. Fifteen participants engaged with either an Interactive Narrative Game (ING) or a Procedural Rhetoric Game (PRG) before completing a resource allocation task (Dictator Game). Results revealed no statistically significant differences between the two conditions in promoting sacrificial altruism or satisfying basic psychological needs. Instead, participants across both groups demonstrated a strong adherence to an equality-seeking norm, consistently choosing …