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Full-Text Articles in Social and Behavioral Sciences

Agency Mbs As Safe Assets, Zhiguo He, Zhaogang Song Feb 2026

Agency Mbs As Safe Assets, Zhiguo He, Zhaogang Song

Research Collection Lee Kong Chian School Of Business

Measured as yield spreads against Treasury securities and AAA corporate bonds, the convenience premium of newly issued agency MBS averages more than half of the long-term Treasury convenience premium. The agency MBS convenience premium and issuance amount vary negatively with mortgage rate, consistent with a prepayment-driven channel. Placing agencies into conservatorship in 2008 and introducing liquidity regulations in 2013 significantly affected MBS convenience premium, consistent with government guarantee and regulatory treatment channels. Analyses of dispersion of dealers’ prepayment forecasts, seasoned MBS, and investors’ MBS holdings deliver further economic implications for agency MBS as safe assets.

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Existence Of Equilibrium Mechanisms In Generalized Principal-Agent Problems With Interacting Teams, Brian Roberson Feb 2026

Existence Of Equilibrium Mechanisms In Generalized Principal-Agent Problems With Interacting Teams, Brian Roberson

ESI Working Papers

We study incentive design when multiple principals simultaneously design mechanisms for their respective teams in environments with strategic spillovers. In this environment, each principal’s set of incentive-compatible mechanisms—those that satisfy their own agents’ incentive compatibility constraints— depends on the mechanisms offered by the other teams. Following a classic example by Myerson (1982), such games may lack equilibrium due to discontinuities in the correspondence of incentive-compatible mechanisms. We establish general conditions for equilibrium existence by introducing a novel approach that involves tracking both the outcome distributions along the truthful-obedient path and the sets of outcome distributions achievable through unilateral deviations, thereby …

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Authoritarianism And Conspiracism Around The World, Valerie Capraro, Folca Panizza, Joseph A. Vitriol, Mikey Biddlestone, Andrè Krouwel, Yordan Kutiyski, Alberto López Ortega, Ana Ebert, Max Wan, Praveen Kujal, Karen M. Douglas, Christopher M. Federico, Jolanda Jetten, Sander Van Der Linden, Flávio Azevedo Feb 2026

Authoritarianism And Conspiracism Around The World, Valerie Capraro, Folca Panizza, Joseph A. Vitriol, Mikey Biddlestone, Andrè Krouwel, Yordan Kutiyski, Alberto López Ortega, Ana Ebert, Max Wan, Praveen Kujal, Karen M. Douglas, Christopher M. Federico, Jolanda Jetten, Sander Van Der Linden, Flávio Azevedo

ESI Working Papers

Authoritarian leaders frequently deploy conspiracy narratives to justify power concentration and delegitimize opponents, yet the link between authoritarianism and conspiracism remains underresearched. Integrating data across six studies from multiple international surveys (N=63,403; 20 countries), expert-coded party systems (71 countries; 14 datasets), and longitudinal panel studies, we demonstrate that individuals with stronger authoritarian orientations are consistently more prone to conspiracism across diverse cultures, political contexts, and time. These results remain robust when controlling for populist attitudes and multiple political, psychological, and demographic variables. The link between authoritarianism and conspiracism appears to constitute a durable and generalizable psychological relationship. This may help …

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Teaching Principles Of Macroeconomics In One Equation Jan 2026

Teaching Principles Of Macroeconomics In One Equation

Journal of Economics and Finance Education

We leverage the quantity theory of money in teaching because it represents well the big picture of macroeconomics and the relationships between key macroeconomic variables, providing a simple intuition and unified framework. To spark interest, we design authentic learning activities that begin with the opening minutes of the Federal Open Market Committee (FOMC) press conference. Then, we illustrate in a simple classroom experiment how quantity theory works and why it relates to the FOMC decisions. To further equip students with macro data interpretation skills, we assign group presentations on economic outlook for non-US countries.

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Ai Teaching Assistants In Higher Education: A Case Study In Pedagogical Integration And Support Jan 2026

Ai Teaching Assistants In Higher Education: A Case Study In Pedagogical Integration And Support

Journal of Economics and Finance Education

This case study examines the implementation of three customized AI teaching assistants in a graduate quantitative methods course for adult learners. Designed to provide timely, course-specific support, the AI tools enhanced student engagement, upheld academic integrity, and aligned with pedagogical principles such as constructivist learning and formative assessment. The assistants were evaluated on the accuracy of their responses and compliance with behavioral requirements. Student feedback indicated improved learning and reduced frustration. This study offers a replicable model for responsibly integrating AI in higher education to support diverse learner needs and promote academic success.

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Understanding The Option Greeks And Option Strategies: An Example Using Apple Earnings Jan 2026

Understanding The Option Greeks And Option Strategies: An Example Using Apple Earnings

Journal of Economics and Finance Education

Students often struggle with understanding option price movements involving the interaction of option “Greeks” and option values. This case study examines the option price movements driven by delta, time decay, and implied volatility following an Apple earnings announcement. The exercise involves students strategically selecting options across multiple strategies and reveals the impact of changes in implied volatility which leads to counterintuitive option price reactions. The goal of the exercise is to bring awareness to the intricacies of option pricing in an empirical setting. We find that comprehension and retention increase significantly when a case study is performed using actual data.

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Student Recognition Of Learning Gains: Evidence From Pre- And Post-Instruction Quizzes Jan 2026

Student Recognition Of Learning Gains: Evidence From Pre- And Post-Instruction Quizzes

Journal of Economics and Finance Education

This study investigates whether students in upper-division economics courses can meaningfully recognize their learning gains over time, independent of instructor-assigned grades. Using a repeated quiz design grounded in authentic assessment, students engaged with real-world economic articles before formal instruction and again after substantial course content had been delivered. Students evaluated their responses from both rounds, while instructors independently assessed the same work. Results show that students not only perceived significant learning gains but also became more accurate in assessing their own performance over time. Additionally, early self-perceptions appear to modestly predict later outcomes, while the largest learning gains occurred among …

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The Abcs Of Modified Bond Duration And Wxyzs Of Bond Convexity Jan 2026

The Abcs Of Modified Bond Duration And Wxyzs Of Bond Convexity

Journal of Economics and Finance Education

By breaking the mathematical derivation of Macaulay Duration, Modified Duration, and Bond Convexity into smaller easily calculated component parts, a more manageable means of calculation for these bond measures emerges for the student. Further, an Excel spreadsheet or an algorithm within a programming language can also be implemented using these smaller component calculations. The Excel template provided can be made into an assignment or used as a resource for the student.

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Introducing The Risk Parity Portfolio Optimization Approach To Students: A Note Jan 2026

Introducing The Risk Parity Portfolio Optimization Approach To Students: A Note

Journal of Economics and Finance Education

Students have been well exposed to Markowitz’s (1952) Mean-Variance Optimization (Modern Portfolio Theory). Nevertheless, its subpar performance during the 2008 global financial crisis exposed it to significant criticism. As a result, a different strategy known as Risk Parity has attracted significant attention. Over the years, Risk Parity methods have gained popularity as investment solutions. As discussed in Fabozzi, Simonian, and Fabozzi (2021), estimates from Neuberger Berman, the total value of assets being managed using Risk Parity strategies is approximately $120 billion. However, with leverage, that number swells considerably, to $400 billion-$500 billion. The popularity of this methodology has spurred the …

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An Empirical Implementation Of A Two-Standard-Deviation Investment Signaling Framework Across Multiple Asset Classes Jan 2026

An Empirical Implementation Of A Two-Standard-Deviation Investment Signaling Framework Across Multiple Asset Classes

Journal of Economics and Finance Education

This paper presents a pedagogically driven application of a quantitative investment signaling model based on two standard deviation bands. Deviations beyond the two standard deviation range are interpreted as potential mean reversion signals, triggering tactical shifts in asset allocation or trading actions. Students construct the models in Excel using live market data, overlaying asset returns against calculated deviation bands to inform decisions. The firsthand approach emphasizes applied learning and critical thinking, with students analyzing model results and presenting empirical findings. Evidence suggests this experiential method significantly enhances student engagement, comprehension, and retention of investment strategy concepts across diverse financial settings

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Coase, Thaler, And Behavioral Economics: Methodological Considerations Jan 2026

Coase, Thaler, And Behavioral Economics: Methodological Considerations

Journal of Economics and Finance Education

In their experiments to measure the endowment effect in market settings, Kahneman, Knetsch, and Thaler (1990; hereafter KKT) assessed the assumption of zero transaction costs associated with the Coase theorem. Their study recruited a sample of advanced undergraduate economics students who were placed in a market setting using coffee mugs as real-world goods, under conditions in which there were zero transaction costs. Their results suggested that an endowment effect lowered trading volume, which should not have occurred if Coase theorem worked in practice. We reexamine the research design employed by KKT, as well as their study’s statistical analysis and results.

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Literature Review: Crowdfunding And Political Fundraising, Saiful Ahmad, Palupi Lindiasari Samputra Jan 2026

Literature Review: Crowdfunding And Political Fundraising, Saiful Ahmad, Palupi Lindiasari Samputra

Journal of Strategic and Global Studies

Crowdfunding is an effort to raise relatively small amounts of money involving many individuals to support a specific project. Typically, crowdfunding is conducted online through fundraising platforms. The aim of this paper is to identify and analyse the utilisation of crowdfunding in fundraising activities that are related to or have political goals carried out by certain organisations or political groups. The method used in this paper is qualitative in the form of narrative analysis carried out through in-depth reading of several scientific literatures that discuss political fundraising through crowdfunding. The sources of scientific literature collection were obtained through the Google …

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Implementation Of Zero Trust Architecture On Local Server Management In Educational Institutions, Joko Purwanto, Safar Dwi Kurniawan Jan 2026

Implementation Of Zero Trust Architecture On Local Server Management In Educational Institutions, Joko Purwanto, Safar Dwi Kurniawan

Journal of Strategic and Global Studies

Educational institutions are facing increasingly complex cyber threats, particularly as they continue to rely on on-premises servers with limited cybersecurity resources. Zero Trust Architecture (ZTA) offers a security model that rejects implicit trust and requires strict verification of each access request. This study aims to examine the applicability of ZTA in managing local servers within educational institutions through a qualitative literature review approach. Relevant literature from 2014 to 2025 was analyzed using thematic synthesis to identify recurring concepts, strategies, and gaps. The results show that ZTA, when integrated with Identity and Access Management (IAM), Security Information and Event Management (SIEM), …

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The Satu Wakaf Indonesia Application Development Strategy, Nurul Huda, Nova Rini, Rahma Aini Nur, Ariel Nian Gani, Muhammad Rofi'i, Nur Syamsudin Buchori Jan 2026

The Satu Wakaf Indonesia Application Development Strategy, Nurul Huda, Nova Rini, Rahma Aini Nur, Ariel Nian Gani, Muhammad Rofi'i, Nur Syamsudin Buchori

Journal of Strategic and Global Studies

The Satu Wakaf Indonesia application is a new platform for digital waqf, which necessitates a strategic policy for its development. The needs of strategic policy stand from the current problems that occur in the implementation of the application. The objectives of this study are: (1) the key sub-elements of the Satu Wakaf Indonesia development strategy, and (2) The Satu Wakaf Indonesia development strategy using the ISM approach. The research method used is a qualitative method with the Interpretive Structural Modelling (ISM) approach. The data source for this study is the results of filling out questionnaires by expert informants. The results …

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Pengaruh Real Mismatch Terhadap Upah Pekerja Di Indonesia, Jawani Eka Pyansahcilia, Dwini Handayani Jan 2026

Pengaruh Real Mismatch Terhadap Upah Pekerja Di Indonesia, Jawani Eka Pyansahcilia, Dwini Handayani

Jurnal Ekonomi Kependudukan dan Keluarga

This study aims to analyze the effect of real mismatch on the wages of workers with medium and higher education levels in Indonesia using the ordinary least squares (OLS) method. The data used in this study are derived from the National Labor Force Survey (Sakernas) conducted in August 2023 to identify instances of mismatch and analyze its impact on workers' wages. In 2023, the incidence of vertical mismatch only was recorded at 14.58 percent, horizontal mismatch only at 31.73 percent, and real mismatch reached 25.24 percent. The estimation results indicate that workers experiencing vertical mismatch only receive a wage premium, …

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Kerentanan Kemiskinan Di Sulawesi Selatan: Analisis Vulnerability As Expected Poverty Dan Klaster Spasial, Nur Hilda Triany Jan 2026

Kerentanan Kemiskinan Di Sulawesi Selatan: Analisis Vulnerability As Expected Poverty Dan Klaster Spasial, Nur Hilda Triany

Jurnal Ekonomi Kependudukan dan Keluarga

This study aims to analyze the determinants of poverty vulnerability in South Sulawesi by integrating spatial dimensions into risk estimation models. Using micro-data from the March 2024 National Socio-Economic Survey (Susenas) with individuals as the unit of analysis, this study applies the Vulnerability as Expected Poverty (VEP) and Local Indicator of Spatial Association (LISA) methods, estimated through an integrated logistic regression model. Empirical results indicate that while the average vulnerability is relatively low, risk distribution is highly concentrated in specific regional clusters. Key findings reveal that health insurance ownership and household assets are the dominant protective factors that drastically reduce …

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Statute Meets Custom: Explaining Provincial Variation In Child Marriage After Indonesia’S 2019 Reform, I Made Yudisthira, Diahhadi Setyonaluri Jan 2026

Statute Meets Custom: Explaining Provincial Variation In Child Marriage After Indonesia’S 2019 Reform, I Made Yudisthira, Diahhadi Setyonaluri

Jurnal Ekonomi Kependudukan dan Keluarga

This study investigates whether Indonesia’s 2019 Marriage Law reform, which raised the minimum legal age of marriage to 19, has been associated with lower child marriage prevalence. Using province-level aggregates from the 2022 Indonesian National Socio-Economic Survey (SUSENAS, N = 1,237,946), we distinguish documented and undocumented unions and estimate Ordinary Least Squares models with controls for poverty, education, assets, rural residence, religious composition, and marriage dispensations. Descriptive maps show prevalence is highest in South Kalimantan (18%), East Java (17%), and West Java (17%), with undocumented unions concentrated in West Nusa Tenggara (7%), Banten (5%), Papua (5%), and West Sulawesi (5%). …

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Bibliometric Analysis Of Research On Women’S Labor Force Participation And Household Economics, Muhamad Dupi, Inayat Ullah Baloch Jan 2026

Bibliometric Analysis Of Research On Women’S Labor Force Participation And Household Economics, Muhamad Dupi, Inayat Ullah Baloch

Jurnal Ekonomi Kependudukan dan Keluarga

Studies of women labor participation (WLFP) and household economics have grown in size in the last two decades and more research and policy focus are given to gender equality, labor markets and household welfare. Nevertheless, the available literature is still in pieces by region, theme, and institutional settings and a complete bibliometric review of this area of study is yet to be done. The objective of the proposed study is to trace the world-wide literature on the topic of women participation in the labor force and household economics through the analysis of the patterns of publications, networks of cooperations, and …

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Estimasi Proporsi Pekerja Anak Pulau Maluku & Papua: Pendekatan Small Area Estimation Hierarchical Bayes Distribusi Beta, Apriani Sofiana, Fauzana Afininnas, Fachrol Mochti, Angga Prayoga, Shafira Husna, Nofita Istiana Jan 2026

Estimasi Proporsi Pekerja Anak Pulau Maluku & Papua: Pendekatan Small Area Estimation Hierarchical Bayes Distribusi Beta, Apriani Sofiana, Fauzana Afininnas, Fachrol Mochti, Angga Prayoga, Shafira Husna, Nofita Istiana

Jurnal Ekonomi Kependudukan dan Keluarga

Pekerja anak merupakan isu krusial yang memerlukan penanganan segera untuk mendukung pencapaian target pembangunan global. Pengentasan isu ini menuntut ketersediaan data yang akurat hingga wilayah kecil guna mendukung perumusan kebijakan yang tepat sasaran. Penelitian ini bertujuan menduga proporsi pekerja anak usia 5–17 tahun di kabupaten/kota Pulau Maluku dan Papua tahun 2024 menggunakan metode Small Area Estimation (SAE) Hierarchical Bayes (HB) distribusi Beta. Lima variabel penyerta dari PODES dan regsosek dipilih melalui stepwise regression dan dieksplorasi secara spasial. Hasil pemodelan HB Beta Pulau Maluku dan Papua menunjukkan sebagian besar wilayah masih memiliki RSE tinggi. Untuk meningkatkan presisi, dilakukan klasterisasi wilayah sebelum …

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One Story High, Audrey Sprenger, Ashley Vaughan Jan 2026

One Story High, Audrey Sprenger, Ashley Vaughan

Fast Capitalism

Full Issue can be found here.

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Student Input Confusion And Unintentional Bias: A Note On Teaching The Capital Asset Pricing Model Jan 2026

Student Input Confusion And Unintentional Bias: A Note On Teaching The Capital Asset Pricing Model

Journal of Economics and Finance Education

Finance textbooks include the Capital Asset Pricing Model (CAPM) as a method to estimate the required return on equity capital. The graphical depiction of the Security Market Line (SML) can be used to examine risk-reward trade-offs for both security analysis and capital investment proposals. In attempts to apply the CAPM in practice, students often confuse the expected return on the market with the market risk premium. This paper provides teaching examples that clarify how changes in the risk-free rate should be made in concert with the market risk premium to avoid the introduction of bias in the resulting investment process.

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The Minimum Variance Portfolio, The Tangency Portfolio, And The Associated Matrix Algebra Jan 2026

The Minimum Variance Portfolio, The Tangency Portfolio, And The Associated Matrix Algebra

Journal of Economics and Finance Education

The matrix algebra associated with finding minimum variance portfolio weights and tangency portfolio weights is greatly simplified by using an Excel presentation. A further simplification of the tangency portfolio weights process is also presented using excess returns for the risky securities. The lesson drawn from this presentation is readily performed online by sharing or recording an Excel screen with students.

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Beyond The Romance: Teaching Financial Regulation With Public Choice And Austrian Economics Jan 2026

Beyond The Romance: Teaching Financial Regulation With Public Choice And Austrian Economics

Journal of Economics and Finance Education

Money and banking students typically begin class assuming that markets fail routinely and that government regulation can prevent (or resolve) crises. We show that there is at least a reasonable doubt that financial intervention causes more harm than good. We then share a successful pedagogical approach to examining financial regulation, through the lens of three models of political economy: public interest, Austrian economics, and public choice theory. We examine nine categories of financial regulation using the standard public interest approach, integrated with Austrian and public choice critiques, to guide students through a critical assessment of financial regulation.

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Affordit Raises Private Equity: The Choice Between Venture Capitalists Or Business Angels Jan 2026

Affordit Raises Private Equity: The Choice Between Venture Capitalists Or Business Angels

Journal of Economics and Finance Education

Affordit, a fintech startup, was raising private equity and needed to choose between raising capital from a venture capital firm or from business angels through a private placement memorandum. Accepting the terms from a venture capital firm would allow the founder to focus on running Affordit. Raising equity through a private placement would be more time intensive, as it required building a network of accredited investors aligned with founder's vision for growth. The case offers students an opportunity to compare the terms of a private placement memorandum to a venture capital term sheet for an early-stage, high­ growth company.

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Improving Student Learning In International Finance Using An Alternative Currency Quotation Paradigm Jan 2026

Improving Student Learning In International Finance Using An Alternative Currency Quotation Paradigm

Journal of Economics and Finance Education

International fmance textbooks assume direct term quotations as a basis for all exchange rates. All equations, including bid-ask choice, currency conversion, parity equations, options, futures hedging, and percentage change, rely on that assumption to calculate the result. This assumption is unnecessary and limits the usefulness of the above formulas. Ignoring indirect and cross-rate quotes can cause misunderstanding and confusion. This paper proposes a more general approach using a base currency vs. quote currency framework that works for all currency quotation methods. This new method generates significantly higher learning outcomes when compared to the traditional method.

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An Example Of A Student-Run Financial Literacy And Mentoring Program Jan 2026

An Example Of A Student-Run Financial Literacy And Mentoring Program

Journal of Economics and Finance Education

This paper describes a student-run financial literacy program for a local middle school which is managed by students in Xavier University's student investment fund. The paper's purpose is to describe a program that could be implemented with minimal resources at many universities. From a hierarchy of learning progression, this program gives university students the opportunity to teach basic business and finance concepts while giving back to the community. The program has the additional benefit of providing financial literacy skills to an underserved, middle school community.

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The Senator And The Philosopher: What Liberalism Might Have Been, Charles Lemert Jan 2026

The Senator And The Philosopher: What Liberalism Might Have Been, Charles Lemert

Fast Capitalism

No abstract provided.

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Class Observations: "Intimate" Technologies And The Poetics Of Reality Tv, Irmi Karl Jan 2026

Class Observations: "Intimate" Technologies And The Poetics Of Reality Tv, Irmi Karl

Fast Capitalism

For some of us, one of the biggest surprises of the 2006 Big Brother show was not the winner, Pete Bennett, but, according to The Guardian newspaper, the fact that “[a]fter seven years, the BB brand is stronger than ever” (Lawson 2006:3). The fact that cultural critics are wishing the show away at the point at which it has reached its popular cultural zenith of mass appeal is significant in that it is indicative of a widely held position, which readily equates (mass) media culture with bad or low culture, frightening, out of bounds, vulgar and excessive (Skeggs 2005a). At …

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William Leiss, Hera, And The Fate Of Science, Hans Kellner Jan 2026

William Leiss, Hera, And The Fate Of Science, Hans Kellner

Fast Capitalism

No abstract provided.

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Excerpt From: Hera, Or Empathy, William Leiss Jan 2026

Excerpt From: Hera, Or Empathy, William Leiss

Fast Capitalism

No abstract provided.

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