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Articles 1531 - 1560 of 46913
Full-Text Articles in Social and Behavioral Sciences
Gmm Estimation With Brownian Kernels Applied To Income Inequality Measurement, Jin Seo Cho, Peter C. B. Phillips
Gmm Estimation With Brownian Kernels Applied To Income Inequality Measurement, Jin Seo Cho, Peter C. B. Phillips
Research Collection School Of Economics
In GMM estimation, it is well known that if the moment dimension grows with the sample size, the asymptotics of GMM differ from the standard finite dimensional case. The present work examines the asymptotic properties of infinite dimensional GMM estimation when the weight matrix is formed by inverting Brownian motion or Brownian bridge covariance kernels. These kernels arise in econometric work such as minimum Cramér–von Mises distance estimation when testing distributional specification. The properties of GMM estimation are studied under different environments where the moment conditions converge to a smooth Gaussian or non-differentiable Gaussian process. Conditions are also developed for …
Robust Implementation In Rationalizable Strategies In General Mechanisms, Takashi Kunimoto, Rene Saran
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 …
Relu-Based And Dnn-Based Generalized Maximum Score Estimators, Xiaohong Chen, Wayne Yuan Gao, Likand Wen
Relu-Based And Dnn-Based Generalized Maximum Score Estimators, Xiaohong Chen, Wayne Yuan Gao, Likand Wen
Cowles Foundation Discussion Papers
We propose a new formulation of the maximum score estimator that uses compositions of rectified linear unit (ReLU) functions, instead of indicator functions as in Manski (1975, 1985), to encode the sign alignment restrictions. Since the ReLU function is Lipschitz, our new ReLU-based maximum score criterion function is substantially easier to optimize using standard gradient-based optimization pacakges. We also show that our ReLU-based maximum score (RMS) estimator can be generalized to an umbrella framework defined by multi-index single-crossing (MISC) conditions, while the original maximum score estimator cannot be applied. We establish the n −s/(2s+1) convergence rate and asymptotic normality for …
New Measures For Richer Theories: Some Thoughts And An Example, Orazio Attanasio, Victor Sancibrian, Federica Ambrosio
New Measures For Richer Theories: Some Thoughts And An Example, Orazio Attanasio, Victor Sancibrian, Federica Ambrosio
Cowles Foundation Discussion Papers
For a long time, the majority of economists doing empirical work relied on choice data, while data based on answers to hypothetical questions, stated preferences or measures of subjective beliefs were met with some skepticism. Although this has changed recently, much work needs to be done. In this paper, we emphasize the identifying content of new economic measures. In the first part of the paper, we discuss where the literature on measures in economics stands at the moment. We first consider how the design and use of new measures can help identify causal links and structural parameters under weaker assumptions …
Borderplex Business Barometer, Volume 9, Number 11, Thomas M. Fullerton Jr., Steven L. Fullerton
Borderplex Business Barometer, Volume 9, Number 11, Thomas M. Fullerton Jr., Steven L. Fullerton
Border Region Modeling Project
No abstract provided.
The Lexicographic Preference And The Tops-Only Property, Xinning Geng
The Lexicographic Preference And The Tops-Only Property, Xinning Geng
Dissertations and Theses Collection (Open Access)
This paper studies the structure of the lexicographic preference domain in the context of strategy proof Random Social Choice Functions (RSCFs). Classical sufficient conditions for the tops-only property—namely, the Interior and Exterior Properties—do not hold in lexicographic domains. Nevertheless, these domains still exhibit the tops-only property. We first provide a structural explanation of why the Interior and Exterior Properties fail in this setting. We then introduce two new structural conditions, Property 1 and Property 2, and show that any two-dimensional lexicographic preference domain satisfying these conditions is a tops-only domain. Finally, we prove that the two-dimensional lexicographic domain meets both …
Competition Through Entry Fees Between Auctions For Differentiated Objects, Massimiliano Landi, Domenico Menicucci, Domenico Colucci
Competition Through Entry Fees Between Auctions For Differentiated Objects, Massimiliano Landi, Domenico Menicucci, Domenico Colucci
Research Collection School Of Economics
This paper considers two competing auctions with objects differentiated according to the random utility framework introduced in Perloff and Salop (1985): bidders privately observe their values for the two objects, and values are ex ante i.i.d. across objects and across bidders. For the case of uniform distribution of values, we show that competition under entry fees is less intense than competition under reserve prices in the sense that sellers are better off, and bidders are worse off when competition takes place with entry fees rather than under reserve prices. The key difference between the two settings is that undercutting under …
The Changing Landscape Of Eastern Montana: Trends And Insights 2024, Melissa Weddell, Glenna Hartman, Elena Bigart, Kara Grau, Matthew Pettigrew, Ava Worbets, Sophie Morris
The Changing Landscape Of Eastern Montana: Trends And Insights 2024, Melissa Weddell, Glenna Hartman, Elena Bigart, Kara Grau, Matthew Pettigrew, Ava Worbets, Sophie Morris
Institute for Tourism and Recreation Research Publications
The purpose of this study is to generate a comprehensive overview of tourism trends in Eastern Montana by leveraging existing data sources and integrating new survey insights. By analyzing county-level statistics, regional tourism data, and U.S. Census information, the study aims to create a detailed picture of visitor demographics, trip characteristics, and community dynamics over the past five years (2018-2023). This multifaceted approach illuminates local tourism patterns, highlights key differences between counties, and allows for comparisons with the more heavily visited western regions of the state. Specific objectives include identifying who visits Eastern Montana, how they plan and experience their …
Price Dislocations: Insights From Trade Repository Data, Albert Menkveld, Lucas Saru, Shihao Yu
Price Dislocations: Insights From Trade Repository Data, Albert Menkveld, Lucas Saru, Shihao Yu
Research Collection Lee Kong Chian School Of Business
This paper identifies price dislocation events in EuroSTOXX 50 futures, i.e., periods marked by high absolute returns. Combining public limit order book data with confidential trade repository data collected under the European Market Infrastructure Regulation (EMIR), we analyze market conditions around such dislocations. We find that price dislocations are accompanied by an increase in trading volume, and in the number of trades. EMIR data enables us to identify who participates in these trades, which allows us to tell if the volume increase is driven by fewer investors trading more, i.e., a more concentrated market, or by more investors participating. The …
Poking Holes And Adding Points In Dictator Games, James C. Cox, Cary Deck, Laura Razzolini, Vjollca Sadiraj
Poking Holes And Adding Points In Dictator Games, James C. Cox, Cary Deck, Laura Razzolini, Vjollca Sadiraj
ESI Working Papers
Deviations from choices predicted by self-regarding preferences have regularly been observed in standard dictator games. Such behavior is not inconsistent with conventional preference theory or revealed preference theory, which accommodate other-regarding preferences. By contrast, experiments in which giving nothing is not the least generous feasible act produce data that is inconsistent with conventional preference theory including social preference models and suggest the possible relevance of reference point models. Two such models are the reference-dependent theory of riskless choice with loss aversion and choice monotonicity in moral reference points. Our experiment includes novel treatments designed to challenge both theoretical models of …
The Importance Of Green Ammonia In Namibia's Decarbonisation Of Shipping : Economic Prospects And Port Infrastructure Obstacles, Lazarus Shiimwaningi Emvula
The Importance Of Green Ammonia In Namibia's Decarbonisation Of Shipping : Economic Prospects And Port Infrastructure Obstacles, Lazarus Shiimwaningi Emvula
World Maritime University Dissertations
No abstract provided.
Determinants Of Containership Time Charter Rates : A Hedonic Pricing Approach, Khusnul Khotimah, Thi Thu Ha Doan
Determinants Of Containership Time Charter Rates : A Hedonic Pricing Approach, Khusnul Khotimah, Thi Thu Ha Doan
World Maritime University Dissertations
No abstract provided.
Case Series Overview: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Case Series Overview: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang
Sim Kee Boon Institute for Financial Economics
This case series explores the innovative applications and value analysis driven by AIGC (AI-generated content) technology from the perspective of early-stage investments in the Chinese market. We analyse the influence of core factors such as technology progression, market demand, policy environment, industry cycles and data on AIGC-driven value creation; case studies are provided to illustrate how AIGC has varying applications across different industries depending on market conditions. This series contains four cases: first, we first explore the investment opportunities of AIGC by combining the core technological value and industrial application status of generative AI, using China’s energy industry as a …
Optimization Via Strategic Law Of Large Numbers, Xiaohong Chen, Zengjing Chen, Wayne Yuan Gao, Xiaodong Yan, Guodong Zhang
Optimization Via Strategic Law Of Large Numbers, Xiaohong Chen, Zengjing Chen, Wayne Yuan Gao, Xiaodong Yan, Guodong Zhang
Cowles Foundation Discussion Papers
This paper proposes a novel framework for the global optimization of a continuous function in a bounded rectangular domain. Specifically, we show that: (1) global optimization is equivalent to optimal strategy formation in a two-armed decision problem with known distributions, based on the Strategic Law of Large Numbers we establish; and (2) a sign-based strategy based on the solution of a parabolic PDE is asymptotically optimal. Motivated by this result, we propose a class of Strategic Monte Carlo Optimization (SMCO) algorithms, which uses a simple strategy that makes coordinate-wise two-armed decisions based on the signs of …
How Fair Workweek Laws Affect Labor Markets: A New York City Case Study, Joseph Pickens, Aaron Sojourner
How Fair Workweek Laws Affect Labor Markets: A New York City Case Study, Joseph Pickens, Aaron Sojourner
Employment Research Newsletter
No abstract provided.
Women’S Mba Peers Affect Their Course Choices, Career Paths, And The Gender Pay Gap, Mallika Thomas
Women’S Mba Peers Affect Their Course Choices, Career Paths, And The Gender Pay Gap, Mallika Thomas
Employment Research Newsletter
No abstract provided.
Understanding Michigan’S Reconnect Program Applicants, Alexander W. Bartik, Brad J. Hershbein, Brian Jacob, Kevin M. Stange, Bryan A. Stuart, Zhonghan Xie
Understanding Michigan’S Reconnect Program Applicants, Alexander W. Bartik, Brad J. Hershbein, Brian Jacob, Kevin M. Stange, Bryan A. Stuart, Zhonghan Xie
Reports
No abstract provided.
Religious Security As A Component Of National Security In The Sphere Of Social And Economic Communication, Yevhen Kharkovshchenko, Vitalii Nitsenko, Yevhen Piletskyi, Mariia Nesterova
Religious Security As A Component Of National Security In The Sphere Of Social And Economic Communication, Yevhen Kharkovshchenko, Vitalii Nitsenko, Yevhen Piletskyi, Mariia Nesterova
Occasional Papers on Religion in Eastern Europe
National security is proposed to be viewed as a coordinated open system that, in addition to the religious, also includes military, economic, social, and other components. Considering religion as part of such an open system makes it possible to distinguish two mutually directed vectors of communication within religious communities: from church leaders to the faithful and vice versa. This presupposes feedback communication links that allow a denomination to balance interactions among the actors of church–society relations. The concept of “communication” in the context of religious and national security is thus expanded from a narrow understanding of information exchange to an …
The Return On Investment (Roi) For Higher Education In Nevada, 2021-2022, Sean Curry, Cason Noll, Olivia K. Cheche, William E. Brown Jr.
The Return On Investment (Roi) For Higher Education In Nevada, 2021-2022, Sean Curry, Cason Noll, Olivia K. Cheche, William E. Brown Jr.
Higher Education
This fact sheet presents 2021-2022 data on the return on investment (ROI) of six public higher education institutions in Nevada. The data are sourced from the Georgetown University Center on Education and the Workforce’s “Ranking 4,600 Colleges by ROI” data tool, which provides standardized ROI estimates across institutions and degree levels nationwide. This fact sheet includes data for the following six public higher education institutions in Nevada that predominantly grant bachelor’s and associate’s degrees: University of Nevada, Reno; University of Nevada, Las Vegas; Nevada State College; Truckee Meadows Community College; Western Nevada College; and College of Southern Nevada.
Final Offer Arbitration With Asymmetric Evidence, Yongjoon Kim, Afia Promi, Jiatong Xue, Cary Deck
Final Offer Arbitration With Asymmetric Evidence, Yongjoon Kim, Afia Promi, Jiatong Xue, Cary Deck
ESI Working Papers
As disputants increasingly rely upon arbitration it is critical to understand outcomes that are likely to arise from mechanisms like final offer arbitration. While a sizable experimental literature investigating strategic behavior in final offer arbitration exists, that work has overwhelmingly focused on situations where the arbitrator’s beliefs about the appropriate resolution are symmetric and uninfluenced by the disputants’ cases. This paper considers a setting where the arbitrator’s beliefs depend on the strength of each disputant’s case. We find disputant responses to changes in the relative strength of their case generally follow comparative statics predictions. Further, we find that final offers …
Berrien County Talent Ecosystem, Lee Adams, Val Klomparens
Berrien County Talent Ecosystem, Lee Adams, Val Klomparens
Reports
No abstract provided.
An Economic Impact Analysis Of Rx Kids In Flint, Michigan, Timothy J. Bartik, Brad J. Hershbein, Iryna V. Lendel, Sevrin Williams
An Economic Impact Analysis Of Rx Kids In Flint, Michigan, Timothy J. Bartik, Brad J. Hershbein, Iryna V. Lendel, Sevrin Williams
Reports
No abstract provided.
Justifying The Opposite: A Pedagogical Reminder For Those Teaching Financial Ratio Analysis, William H. Sackley, Roger T. King
Justifying The Opposite: A Pedagogical Reminder For Those Teaching Financial Ratio Analysis, William H. Sackley, Roger T. King
Journal of Economics and Finance Education
Although introductory finance texts may be clear and instructors may be thorough, students often exhibit an extremely superficial understanding of financial ratio analysis upon leaving their introductory classes. We find that students’ understanding can be enhanced by requiring them to justify why the opposite of their initial impression of a financial ratio may be correct. Thus, students – or other analysts – may be too quick to judge whether the value of a particular financial ratio is “good” or “bad.” This approach requires little additional classroom time, yet seems to create a better understanding of the interrelated financial variables comprising …
An Endogenous Measure Of Class Participation, E. Anthon Eff
An Endogenous Measure Of Class Participation, E. Anthon Eff
Journal of Economics and Finance Education
Peer assessments can provide valuable information to instructors who are assigning class participation scores. Student peer assessments bring their own problems, however, including grade inflation and variation in the quality of assessments across students. This paper addresses these problems by employing an endogenous measure of class participation, which dampens the influence of poor quality information and makes the evaluation fairer, since it weighs more heavily the opinions of classmates that students respect. The technique is employed on example data from an undergraduate seminar course, and the results are evaluated. The technique is shown to be incentive-compatible.
Evaluating College Teaching Performance: The Case Of Principles Of Economics Classes, Joachim Zietz, Mark L. Wilson, Howard H. Cochran Jr.
Evaluating College Teaching Performance: The Case Of Principles Of Economics Classes, Joachim Zietz, Mark L. Wilson, Howard H. Cochran Jr.
Journal of Economics and Finance Education
The paper suggests a methodology to remove potential bias from performance evaluations, which may arise, for example, if those being evaluated cannot control key factors that affect their performance score. The methodology is illustrated for the case of instructors’ teaching evaluations in principles of economics classes at a large comprehensive university. Standard student evaluations and the results of an end-of-term test of student knowledge are adjusted for student and class characteristics using simple regression techniques. In addition, student evaluations are adjusted for grade inflation. The results of the suggested methodology are compared to those derived from the common evaluation method …
Labor Markets In The Classroom: Marginal Revenue Product In Major League Baseball, Craig A. Depken Ii, Dennis P. Wilson
Labor Markets In The Classroom: Marginal Revenue Product In Major League Baseball, Craig A. Depken Ii, Dennis P. Wilson
Journal of Economics and Finance Education
This paper presents an easily understood example of a labor market that is useful in introducing how wages and rents are determined, using professional baseball as the context. The mechanics of a competitive labor market are outlined and an empirical analysis of the major league baseball (MLB) labor market is described. An example out-of-class exercise investigating how salaries are determined is also presented. Additionally, sample topics are provided for in-class discussion at various levels of undergraduate economic instruction.
Distance Delivery In Economics: Faculty Perspectives, Joseph A. Farinella, Bradley K. Hobbs, H. Shelton Weeks
Distance Delivery In Economics: Faculty Perspectives, Joseph A. Farinella, Bradley K. Hobbs, H. Shelton Weeks
Journal of Economics and Finance Education
Although a large number of colleges and universities have begun offering economics courses utilizing distance learning, limited empirical evidence has been presented on how economics faculty perceive this medium. We address this weakness in the literature by conducting a survey of academic members of the Economics professorate and examining their perceptions and attitudes toward distance learning. Specifically, we solicited information on current offerings using distance technology, the willingness of faculty to teach via distance delivery, perceived suitability of various economics courses for distance delivery, the degree to which requisite distance delivery technologies are used by faculty, and perceived stakeholder demand …
The Random Lottery Mechanism As An Academic Incentive, Calvin Blackwell
The Random Lottery Mechanism As An Academic Incentive, Calvin Blackwell
Journal of Economics and Finance Education
The author shows the benefits of using the random lottery mechanism as a pedagogical tool. The mechanism’s primary advantage is to provide students an incentive to work additional problems without increasing the amount of homework the teacher must grade. In addition, this mechanism encourages in-class participation and can generate discussion of mechanism design.
The Effectiveness Of Using Electronic Slides To Teach Graphical Economic Concepts, Charles Kroncke, Lynnette Smyth
The Effectiveness Of Using Electronic Slides To Teach Graphical Economic Concepts, Charles Kroncke, Lynnette Smyth
Journal of Economics and Finance Education
Quiz results demonstrate that one-time exposure to learning graphical material from electronic slides produces no statistically significant advantage over exposure to the same material presented with “chalk and talk”. Previous electronic slide experience is not a significant explanatory variable for students who were exposed to the material via chalk. However, prior exposure to slides is the only significant variable influencing quiz grades for those students who were tested on material presented with electronic slides. The instructional benefits of using electronic slides in any course are not confined to that course but extend to other classrooms that likewise utilize this technology.
Does Macro/Micro Course Sequencing Affect Student Performance In Principles Of Economics Courses?, Andy Terry, Ken Galchus
Does Macro/Micro Course Sequencing Affect Student Performance In Principles Of Economics Courses?, Andy Terry, Ken Galchus
Journal of Economics and Finance Education
Using a sample of 870 students in the College of Business at the University of Arkansas at Little Rock, we look at the question of whether and to what extent Macro-Micro course sequencing affects student performance in principles of economics. We find that the optimal sequencing involves having students take the two principles of economics classes concurrently. In addition, consistent with most prior research, we find that grade point average, major, and to some extent ethnicity and gender are significantly related to performance in one or both of the principles of economics classes.