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Full-Text Articles in Law
Prices, Legalisation And Marijuana Consumption, Mert Daryal
Prices, Legalisation And Marijuana Consumption, Mert Daryal
University Avenue Undergraduate Journal of Economics
The debate concerning the legalisation of marijuana is intensifying. As the price of marijuana would most likely decrease following legalisation, the law of demand implies that consumption would rise. But by how much? This paper analyses the effect of legalisation on consumption by using data from a specifically-conducted survey of first year students at The University of Western Australia. The results indicate that 53 percent of students have consumed marijuana with males exhibiting a higher intensity than females. The results also show that legalisation would cause consumption to increase by approximately 4 percent. Both legalisation and a 50 percent fall …
Cooperation Within Anarchy: A Case Study Of The Success Of Commercial Banking During The Lebanese Civil War, Mona Kalash
Cooperation Within Anarchy: A Case Study Of The Success Of Commercial Banking During The Lebanese Civil War, Mona Kalash
University Avenue Undergraduate Journal of Economics
This paper analyses the success of the Lebanese banking system during the Lebanese civil war, which lasted from 1975 until 1989. As the rest of the economy plunged into recession due to intense warfare and governmental collapse, the bankers and their clients continued to cooperate across battle lines in the loaning business. The argument of the paper is that the linkage of social and economic games and the importance of reputation in business created incentives for bankers and businessmen to cooperate in the Prisoner’s Dilemma game of lending and borrowing. I challenge the theoretical perspective that cooperation is not possible …
The World Grain Economy To 2050: A Dynamic General Equilibrium, Two Sector Approach To Long-Term World-Level Macroeconomic Forecasting, Benn Eifert, Carlos Galvez, Naureen Kabir, Avinash Kaza, Jack Moore, Christine Pham
The World Grain Economy To 2050: A Dynamic General Equilibrium, Two Sector Approach To Long-Term World-Level Macroeconomic Forecasting, Benn Eifert, Carlos Galvez, Naureen Kabir, Avinash Kaza, Jack Moore, Christine Pham
University Avenue Undergraduate Journal of Economics
Though fifty years is a tremendous time horizon for the forecasting of any trend involving the complex interactions of billions of people and billions of hectares of intricate planetary ecosystems, the analytic methodology of economics is the most capable toolbox available for such forecasting. At the center of such a forecast are two complex functions, supply and demand, coevolving over time and codetermining prices, production, investment, labor flows, export patterns, and most other major variables.
The Political Economy Of Wto Dispute Settlement: Toward A Synthesis Of International Regime Theories, Christopher L. Griffin
The Political Economy Of Wto Dispute Settlement: Toward A Synthesis Of International Regime Theories, Christopher L. Griffin
University Avenue Undergraduate Journal of Economics
This paper analyzes the explanatory power of mainstream international regime theories from the international political economy (IPE) literature—neoliberalism, realism, and cognitivism—through formal econometric techniques. I use a data set based on 162 dispute settlement cases since the inception of the World Trade Organization and find that the probability of a Dispute Settlement Panel (DSP) forming depends on the share of exports for a target country as a share of its total exports as well as relative gaps in military expenditures (as a share of GDP). These results are highly robust to different model specifications and control variable choice. Though the …