Social and Behavioral Sciences Commons^™

Axiomatic Marxian Exploitation Theory: A Survey Of The Recent Literature, Rylan Chinnock, Roberto Veneziani, Naoki Yoshihara

Economics Department Working Paper Series

In this paper we review recent developments in axiomatic studies of Marxian exploitation theory. First, given the acute controversy over the formal definition of exploitation during the 1970-1990s, we review the study of the axiomatic frame- work, which identifies some fundamental properties – technically, domain conditions – that any definition of exploitation should satisfy. Moreover, we provide a survey on the axiomatic studies about the proper measures of exploitation which coherently preserve the basic Marxian perceptions represented by two axioms, Profit- Exploitation Correspondence Principle and Class-Exploitation Correspondence Principle. Finally, we examine the relevance of the labour theory of value in …

Aiming For The Goal: Contribution Dynamics Of Crowdfunding, Joyee Deb, Aniko Öry (Oery), Kevin R. Williams

Cowles Foundation Discussion Papers

We study a dynamic contribution game where investors seek private benefits that are offered in exchange for contributions and a single, publicly-minded donor values project success. We show that donor contributions serve as costly signals that encour-age socially-productive contributions by investors who face a coordination problem. Investors and the donor prefer different equilibria but all benefit in expectation from the donor’s ability to dynamically signal his valuation. We explore various contexts in which our model can be applied and delve empirically into the case of Kickstarter. We calibrate our model and quantify the coordination benefits of dynamic signaling in counterfactuals.

Abmscore: A Heuristic Algorithm For Forming Strategic Coalitions In Agent-Based Simulation, Andrew J. Collins, Gayane Grigoryan

Engineering Management & Systems Engineering Faculty Publications

Integrating human behavior into agent-based models has been challenging due to its diversity. An example is strategic coalition formation, which occurs when an individual decides to collaborate with others because it strategically benefits them, thereby increasing the expected utility of the situation. An algorithm called ABMSCORE was developed to help model strategic coalition formation in agent-based models. The ABMSCORE algorithm employs hedonic games from cooperative game theory and has been applied to various situations, including refugee egress and smallholder farming cooperatives. This paper discusses ABMSCORE, including its mechanism, requirements, limitations, and application. To demonstrate the potential of ABMSCORE, a new …

A Conditional Linear Combination Test With Many Weak Instruments, Dennis Lim, Wenjie Wang, Yichong Zhang

Research Collection School Of Economics

We consider a linear combination of jackknife Anderson-Rubin (AR) and orthogonalized Lagrangian multiplier (LM) tests for inference in IV regressions with many weak instruments and heteroskedasticity. We choose the weight in the linear combination based on a decision-theoretic rule that is adaptive to the identification strength. Under both weak and strong identifications, the proposed linear combination test controls asymptotic size and is admissible. Under strong identification, we further show that our linear combination test is the uniformly most powerful test against local alternatives among all tests that are constructed based on the jackknife AR and LM tests only and invariant …

Do Americans Support More Housing?, Michael Lewyn

Scholarly Works

An analysis of opinion poll data on housing issues. The article finds that Americans generally believe that their community needs more housing of all types, but are more closely divided about whether such housing should be in their own neighborhoods. The article further finds that members of minority groups, lower-income Americans, and younger Americans are more pro-housing than older, affluent whites.

How Likely Is It That Omitted Variable Bias Will Overturn Your Results?, Deepankar Basu

Economics Department Working Paper Series

Building on a recently developed methodology for sensitivity analysis that parametrizes omitted variable bias in terms of partial R-Squared measures, I propose a simple statistic to capture the severity of omitted variable bias in any observational study: the probability of omitted variable bias overturning the reported result. The central element of my proposal is formal covariate benchmarking, whereby researchers choose an observed regressor (or a group of observed regressors) to benchmark the relative strength of association of the omitted regressor with the outcome variable and with the treatment variable. These relative strengths of association function as the two sensitivity parameters …

Capturing Value In Emerging Markets: A Real Options Perspective On Resilience And Risk, Alexander Castillo

CMC Senior Theses

This paper examines the evaluation of investment opportunities in emerging markets (EMs) through real options analysis, against the backdrop of their unique risk profiles and the recent trend of EMs exhibiting resilience in economic performance. While EMs are associated with high growth rates and infrastructure gaps, they have shown adaptability, particularly in monetary policy responses to inflation. This paper explores the sensitivity of net present value (NPV) and real options (RO) to changes in the capital asset pricing model, adapting the yield spread to capture default risk and local risk-free rates. Utilizing oil benchmark price data, the paper constructs a …

Analysis Of Government Stimulus During Covid-19 And The Bank Distress Of 2023, Kara Hagler

CMC Senior Theses

Due to the hardships that small businesses were facing from the onset of COVID-19 in March 2020, the government created the Payment Protection Program (PPP). This program used banks as the initial lenders for small business loans to facilitate loans from the government to small businesses. In this article, I study how participation in the PPP lending program contributes to the Bank Distress of 2023 by using a bank-level quarterly panel data set from 2019-2023. Estimation of difference-in-difference specifications reveals banks that opted into the PPP program experienced an increase in held-to-maturity securities relative to non PPP banks. The mechanism …

Is Green The New Gold? Esg’S Influence On The Financial Performance Of The Energy And Mining Industries, Alexa De Vegvar

CMC Senior Theses

The demand for Environment, Social, and Governance (ESG) reporting has increased in recent years. As the concern for climate change has moved to the forefront of the investment process, companies have needed to prioritize ESG in their operations. Previous literature addresses how ESG has benefited companies’ financial performance and increased shareholder value. The pandemic has proven to have positively impacted ESG reporting as social priorities shifted. However, studies have also shown that ESG reporting is too ambiguous to concretely display any relationship with financial performance. This thesis will analyze the impact of ESG and environmental data reporting on the Return …

More Than A Feeling: Exploring The Drivers Of Music Catalog Values, Emily Nutting

CMC Senior Theses

This paper examines which characteristics of songs affect transaction price in the sale of artist’s music catalogs. My analysis tests many variables, including the number of years between the song’s release its catalog’s sale (age); the natural log of the number of Spotify streams the song has (popularity); the genre of the song; themes in the song, such as dating, violence, romance, obscenity, sadness, and feelings; and elements of the song like danceability, energy, loudness, instrumentalness (the prevalence of instrumentals relative to vocals in a song), and acousticness (the measure of sound made using instruments as opposed to electronic means). …

Armed Conflict And Household Water Sources, George Naufal, Michael A. Malcolm, Vidya Diwakar

Economics & Finance Faculty Publications

Access to safe drinking water is among the most important determinants of public health outcomes. We pair household-level data from Iraq together with data on armed conflict and adopt a generalized difference-in-differences approach to study the relationship between household drinking water sources and armed conflict intensity. We find that households located in conflict-affected areas are more likely to use piped water accessed at their homes or bottled water as their primary source of drinking water, but are less likely to use public water sources or tanked water delivered on trucks and carts. We explore the temporal dynamics of these adjustments …

Economic Entanglement: The Quantum Race Between The United States And China, Isabella Willhite

Regis University Student Publications (comprehensive collection)

The United States and China are both currently home to the strongest economies and militaries in the world. Despite their interdependence, trade wars have escalated between the two countries in the past few years. While past trade wars have been focused on purely economic protectionism or ideological stances, the trade wars of today signify a shift towards protecting critical emerging technologies. The important emerging technology of today is quantum computing, which will forever change the way that computers encrypt, process, and decode information. The United States and China are on the eve of the “quantum race,” in which they will …

Reverse Technological Spillovers From Outward Fdi On Home Countries’ Total Factor Productivity: Does The Mode Of Investment Matter?, Ayesha Ashraf, Federico Carril-Caccia, Nadia Doytch

Ateneo School of Government Publications

We examine the effect of outward foreign direct investment (OFDI) on total factor productivity (TFP) of home (source of FDI) countries in a global sample of 85 economies, distinguishing between outward greenfield FDI (OGFDI) and outward cross-border merger and acquisition (M&A) purchases. The goal of the study is to test for reverse technological spillovers to the FDI source country. The hypothesis is that OGFDI and M&As have different capabilities of carrying out reverse technological spillovers, which would affect the TFP of home countries differently. We apply a two-step system generalized method of moments (GMM) to deal with possible endogeneity and …

Discourses That Undermine Union Movements: A Multimodal Analysis Of Union-Busting Videos, Theresa A. Catalano, Julia Schleck

Department of Teaching, Learning, and Teacher Education: Faculty Publications

Labor unions in the United States have experienced decades of decline, but recent years have seen a rebirth of union campaigns and successes. Because unions are once again becoming a threat to large companies, it is reasonable to assume that efforts to discourage organizing efforts will increase and become even more robust in the near future. Although traditionally, companies have worked to suspend union organizing through captive audience meetings in which unions were discussed via verbal or written modes, more recent means of reaching workers with anti-union messages incorporate a variety of communication strategies to get the message across. As …

Senior Mental Health Clinicians’ Understanding Of Their Self-Efficacy While Providing Services At Community-Based Agencies, Rukiya Symister

Walden Dissertations and Doctoral Studies

Many mental health clinicians strive to provide their clients with rehabilitative and psychotherapy services resulting in a client gaining stable income and housing. However, the role of a senior mental health clinician (SMHC) is not without its challenges of trying to balance their well-being while dealing with increased coworker turnover, demanding caseloads, and limited access to community resources to provide clients with getting their lives back on track, thereby impacting clinicians’ understanding of their self-efficacy. Much of the research on self-efficacy has focused on mental health clients, mental health graduate students, and mental health trainees, often leaving out the lived …

Geographic Links And Predictable Returns, Zuben Jin, Frank Weikai Li

Research Collection Lee Kong Chian School Of Business

Using establishment-level data of U.S. public firms, we construct a novel measure of geographic linkage between firms. We show that the returns of geography-linked firms have strong predictive power for focal firm returns and fundamentals. This effect is distinct from other cross-firm return predictability and is not easily attributable to risk-based explanations. It is more pronounced for focal firms that receive lower investor attention, are more costly to arbitrage, and during high sentiment periods. The cross-firm information spillovers and return predictability are also stronger for geographic peers with economic linkages and with positive information. Our results are broadly consistent with …

Place Matters: The Role Of Public Libraries As Change Agents In Central Appalachia, Jasmyne R. Lewis

Theses, Dissertations and Capstones

The role of public libraries is changing in response to a multitude of influences and trends. The exponential growth of technology as the primary method of information access, funding challenges, changing demographics, and other mitigating factors have forced public libraries to become more than book repositories. Community library leaders and governing board members are faced with challenges such as decreased funding, community division regarding library services, and soaring costs for library materials and services, as they develop and adopt policies and practices to navigate this ever-changing environment.

The purpose of this qualitative study was to collect data from the public …

Trading Perspectives: The Impact Of Gender In Shaping National Trade Policies, Katherine Kwiatkowski

Honors Theses

Economic and political factors have been shown to influence the trade policy decisions of national leaders. The impact of a national leader’s gender on their trade policy preferences remains an underexplored area of research. The increasing share of female national leaders raises the question of whether their policy preferences vary from those of male leaders because of their gender. In this study, I utilize the gender of a nation’s leader to implement a two-way fixed effects regression that analyzes the impact of gender on a leader’s trade policy preferences. Controlling for factors that could also impact a leader’s trade policy …

Essays On Corporate Debt Structure, Kyuyoung Oh

Theses and Dissertations--Finance and Quantitative Methods

The dissertation consists of three chapters exploring three different facets of corporate debt structure choice. In the first chapter, “Risk Management and the Choice between Secured and Unsecured Debt: Evidence from Natural Experiment,” I study whether and how corporate hedging affects firms’ choice between secured and unsecured debt. Exploiting the introduction of steel futures as a natural experiment, I provide causal evidence that risk management enables firms to switch from secured to unsecured debt without sacrificing debt capacity. Cross-sectional evidence supports the interpretation that risk management drives the results. The effects are stronger for firms that are more likely to …

Tax Streams, Land Rents, And Urban Land Allocation, Yugang Tang, Zhihao Su, Yilin Hou, Zhendong Yin

Center for Policy Research

This paper examines the fiscal motives behind municipal governments' decisions to allocate commercial and residential land when two categories of land use are subject to different fiscal revenue alternatives: business-related tax and/or land rent. We use urban parcel-level land transfers during China’s peak period of urbanization, match commercial parcels with residential parcels, and find significant price discounts on commercial parcels relative to adjacent residential parcels. The observed discounts arise from the future tax flows from commercial use, i.e., expected taxes from developed commercial land reduce its transfer price. We conduct a structural estimation to examine the implications on land use …

Understanding The Dynamics Of Food And Economic Development In The Community Of Kakisa, Northwest Territories, Canada, Laura Rodriguez Reyes

Theses and Dissertations (Comprehensive)

For Indigenous Peoples, the land embodies a source of cultural and spiritual well-being that is linked to their way of life and identities through divine and traditional connections. Unfortunately, colonial powers, the global food system, socioeconomic inequalities and environmental degradation are impacting northern Indigenous lands and food systems, leading to food insecurity. Nevertheless, communities are still thriving in the face of adversity. In the Northwest Territories, on the lands of Ka’a’gee Tu First Nations (KTFN) in the community settlement of Kakisa, people are growing food through vegetable gardens and greenhouses to support their vision of a resilient food system.

Through …

Economic Review Of Point-Of-Care Eeg., Adam Green, M Elizabeth Wegman, John P Ney

Cooper Medical School of Rowan University Faculty Scholarship

Aims: Point-of-care electroencephalogram (POC-EEG) is an acute care bedside screening tool for the identification of nonconvulsive seizures (NCS) and nonconvulsive status epilepticus (NCSE). The objective of this narrative review is to describe the economic themes related to POC-EEG in the United States (US).

Materials and methods: We examined peer-reviewed, published manuscripts on the economic findings of POC-EEG for bedside use in US hospitals, which included those found through targeted searches on PubMed and Google Scholar. Conference abstracts, gray literature offerings, frank advertisements, white papers, and studies conducted outside the US were excluded.

Results: Twelve manuscripts were identified and reviewed; results …

香港影視業勞工狀況終期研究報告2024, 嶺南大學政策研究院, 嶺南大學文化研究及發展中心, 嶺南大學「青年貧窮與就業」研究團隊, 潘毅, 梁仕池, 楊皓鋮, 蔡美琦, 鄧立賢

CCRD Research Report

推動影視業發展是港府近年的文創政策重心。影視業較為人注目的是黃金年代後票房積弱和創作自由的議題；而銀幕背後，從業員的處境則容易被忽略。本研究報告兼用定量和定質的調查，深入淺出地分析本地投身電影、電視、廣告、網片等影像製作的從業員的勞動條件，探討不合理待遇的成因，並按研究結果提出政策及行業倡議。

本研究以問卷調查了212為從業員的工作狀況，與44名從業員進行深度訪談，得出以下主要發現：

1）影視業以自由工作者為主，他們的僱傭型態零散，普遍沒有明文及完整合約便要開工，並容易面臨拖糧和其他形式的剝削（詳見第5部分）：

• 影視從業員以自由工作者為主，缺乏保障，面對多種危脆性（見p.26）
• 多數從業員開工前不會簽署正規協議（見p.35）
• 業內實際工作協議的完整度，比從業員理想的完整度有很大落差（見p.38）
• 行業零散度高，導致拖糧問題普遍（見p.47）
• 從業員容易面臨壓價和被資方轉移商業風險（見p.53）

2）影視業的生態和文化令從業員面對不公的操作和「行規」亦難以改變。這些因素包括：行業以人脈為重、行內層級文化較強、從業員願意為創作犧牲待遇、行內較缺乏團結及行動意識（詳見第6部分）：

• 從業員極度依賴人脈接觸工作機會。遇到不合理待遇時，顧慮到自己形象和開罪前輩的可能性，很多人都會忍氣吞聲，避免被行家覺得麻煩、小器，導致不獲重用。這無疑是製造了灰色地帶，讓掌握工作機會的人士和單位可以刻薄對待和剝削勞工，而毋須被問責（見p.58）
• 行內論資排輩的文化仍然存在，底層從業員要對前輩服從，表現出「肯捱」、願意「跟師傅學嘢」、甚至「任砌」等特質，難以反駁不合理要求，勞動尊嚴受損（見p.62）
• 從業員對藝術創作抱有熱誠，在商業製作中亦未必完全以金錢衡量自己的付出，因此容易陷入甘願「自我犧牲」的心態，導致被剝削（見p.64）
• 從業員若遇到不公平待遇，普遍不傾向團結行家一起尋求改變。主流的做法是在個人網絡傳播、私下聯絡對方追討、或放棄追究。多名受訪者歡迎行內發展出爭取權益導向的工會，惟他們認為現時並未有足夠條件推動（見p.65）

3）影視製作市道不佳，令製作預算壓縮，令長工時、職安意識不足問題亦更難有資源應對（詳見第7部分）：

• 拍攝現場有不少職安隱患，頗多從業員曾經歷或目睹工傷發生。從業員工時長、經常在疲勞狀態下工作；拍攝節奏趕急；現場未必有專業人員把關安全，僅靠經驗判斷安危等，都是造成職安隱患的原因（見p.77）
• 從業員連續多日超時工作的情況非常嚴重。受訪從業員認為行內有必要對作息時間有合理的規範，不應犧牲從業員健康（見p.74）
• 從業員認同需要專人負責監察片場安全，但對於如何實行並無共識（見p.81）
• 從業員普遍認為政府對行業的支援資源不足、不到位，應邁向更開放、不以商業效益為主要考量的方向改善（見p.84）

基於研究結果，我們對香港影視行業及政府提出以下倡議（詳見第8部分）：

保障自由工作者基本待遇（見p.87）

• 業界引入標準合約，推廣開工前先簽訂完整協議的文化
• 政府透過資助影像製作項目，推廣勞工友善措施
• 業界規範工時，減低超時、高強度工作的情況

改善工作條件及職業安全（見p.89）

• 業界和政府合作，設定適用於影視製作的職安課程、認證系統、作業指引
• 政府改善職安執法
• 從業員自我組織，維護及推動權益

支援業界發展（見p.92）

• 政府改善資助制度，支援各規模、多元創作
• 增加畢業生支援，輔助院校新晉人才與業界接軌

How Climate Change Is Altering Energy Finance And Governance In China And The United Arab Emirates, Hans Gebauer

Regis University Student Publications (comprehensive collection)

Climate change is an environmental problem with catastrophic ecological, economic, social, and political impacts. The dramatic scale of the problem has appropriately earned it the name of “climate crisis.” As a protracted crisis, climate change will dominate national and international agendas while transforming institutional politics. Conflicts within policy communities, new interest alignments, social pressure on governments, and ecological collapse could conceivably transform the norms and institutions through which economics, policy, and politics are conducted. Nowhere is this clearer than the energy sector, which is responsible for most greenhouse gas emissions and wherein massive institutional shifts are just beginning to occur. …

Hubris Or Talent? Estimating The Role Of Overconfidence In Chinese Households’ Investment Decisions, Jing Xu, Maroula Khraiche, Xi Mao, Xuan Wang

Economics and Finance Faculty Publications and Presentations

We document the extent to which overconfidence in one’s financial literacy (FL overconfidence) plays a role in households’ reported financial risk aversion and their actual investment behavior, using data from the China Household Finance Survey. We measure FL overconfidence by estimating the gap between people’s self-reported financial literacy and their objectively measured financial knowledge. Our results indicate that FL overconfidence is negatively associated with self-reported financial risk aversion. Additionally, FL overconfidence is positively associated with the likelihood of having a brokerage account, holding risky financial instruments (other than just stock), and a proportion of assets allocated towards risky assets. We …

Effects Of The Homegrown Player Rule In The English Premier League: A Comprehensive Analysis Of Squad Composition, Market Values, And Wages, Jiho "Brian" Jun

Pitzer Senior Theses

This paper uses theoretical frameworks from economics and sports management to investigate the transformative effects of the Homegrown Player Rule on English Premier League squad dynamics, market valuations, and wage structures. The study examines the evolution of homegrown player distribution across clubs from the rule’s implementation in 2010 to the most recent season in 2023. My analysis of market values and wages finds no evidence that the rule leads to possible market value and wage rate disparities between homegrown and non-homegrown players. Subsequent research shows evidence of a decrease in the real wage rate of homegrown players over time, contrasting …

Keep Charitable Oversight In The Irs, Philip Hackney

Articles

Critics are increasingly calling for Congress to remove charity regulation from the IRS. The critics are wrong. Congress should maintain charity regulation in the IRS. What is at stake is balancing power between the state, charity as civil society, and the economic order. In a well-balanced democracy, civil society maintains its independence from the state and the economic order. Removing charitable jurisdiction from the IRS would blind the IRS to dollars placed in charitable solution increasing tax and political shelters and wealthy dominance of charities as civil society. A new agency without understanding of, or jurisdiction over, tax cannot act …

The Role Of Discrete Emotions In Job Satisfaction: A Meta-Analysis, Courtney E. Williams, Jane Shumski Thomas, Andrew A. Bennett, George C. Banks, Allison Toth, Alexandra M. Dunn, Andrew Mcbride, Janaki Gooti

Management Faculty Publications

[Summary] The relationship between emotions and job satisfaction is widely acknowledged via affective events theory (AET). Despite its widespread use, AET was not designed to address why specific emotions might differentially relate to job satisfaction. We utilize appraisal theory of emotion to refine AET and provide this nuanced theorizing. We meta‐analytically test our ideas with 235 samples across 99 883 individuals and 22 600 intra‐individual episodes. We test two approaches—specific emotion experiences (16 discrete emotions) versus general emotion experiences (positive or negative emotions)—and present empirical evidence of their similarities and differences with job satisfaction. Our findings suggest that specific emotions …

Dampak Kesenjangan Jam Bekerja Terhadap Ketimpangan Upah Di Jabodetabek Selama Pandemi Covid-19 Tahun 2020, Sophia Lailil Jannah, Ariska Nurfajar Rini

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to analyze the differences in working hours of male and female workers on the wage gap during the Covid-19 Pandemic in Jakarta, Bogor, Depok, Tangerang, and Bekasi (Jabodetabek) area in 2020 using the Ordinary Least Square (OLS) and the Blinder-Oaxaca Decomposition. Utilizing the National Labor Force Survey (SAKERNAS) 2020, the results showed that working hours positively and significantly affected wages with a coefficient of 4.72% for male workers and 7.05% for female workers. The Blinder-Oaxaca decomposition proved that working hours contribute to reducing the wage gap because there is wage convergence due to reduced working hours during …

Analisis Dampak Program Bantuan Pangan Non-Tunai Terhadap Pengeluaran Konsumsi Rumah Tangga Pertanian Di Maluku, M. Rismawan Ridha, Rumayya Rumayya

Jurnal Ekonomi dan Pembangunan Indonesia

Poor households in the agricultural sector belong to a group with high food insecurity. As one of the instruments in overcoming the problem of food insecurity, Non-Cash Food Assistance (BPNT) provides social assistance to the poor to purchase adequate and nutritious food. This study aims to analyze the impact of BPNT on the expenditure of poor households in the agricultural sector in Maluku province. Using the Propensity Score Matching analysis on March 2020 Susenas data, the results show that BPNT significantly influences increasing food expenditure but not total expenditure.