Economics Commons^™

Green Infrastructure Resource Directory, New England Environmental Finance Center

Sustainable Communities Capacity Building

Green infrastructure is an approach for managing stormwater that uses vegetation and soils to capture and treat rainwater where it falls. Unlike single-purpose gray infrastructure, green infrastructure realizes multiple benefits at once, including flood mitigation, improved water and air quality, community beautification, provision of recreational opportunities, and energy and cost savings. This resource directory is intended to help communities design, implement, fund, and monitor green infrastructure practices and programs. It was compiled by the Environmental Finance Center Network through the Capacity Building for Sustainable Communities program funded by U.S. Department of Housing and Urban Development and U.S. Environmental Protection Agency. …

Measuring And Modeling Investment Behavior In A Social Network, Alex Dusenbery

Graduate Masters Theses

Over the past decade, a great deal of research has been done on the dynamics of complex networks, particularly in the realm of social networks. As online social networks (Facebook, LinkedIn, etc.) have exploded in popularity, a deluge of data has become available to researchers, providing detailed histories of online social interaction. A growing number of small-scale online networks aimed at certain niche groups of users have also sprouted up, providing a richer context for the study of social network dynamics. One such network is Currensee, which provides a social platform for investors in the foreign exchange market. Through the …

System Dynamics Implementation Of A Model Of Population And Resource Dynamics With Adaptation, Takuro Uehara, Yoko Nagase, Wayne Wakeland

Complex Systems Faculty Publications and Presentations

We build and analyze a dynamic ecological economic model that incorporates endogenous innovation on input substitutability. The use of the system dynamics method allows us to depart from conventional equilibrium thinking and conduct an out-of-equilibrium (adaptation) analysis. Simulation results show that while improvement in input substitutability will expand an economy, this change alone may not improve sustainability measured by indicators such as utility-per-capita and natural resource stock. It could, however, be possible that in combination with other technological progress, improvement in input substitutability will contribute to sustainable development. Sensitivity analysis also indicates a possible complication with the use of exogenous …

The Full Cost Of Renewables: Managing Wind Integration Costs In California, William Savage

Pomona Senior Theses

Wind power will be an important component of California's aggressive strategies to meet its greenhouse gas reduction targets by the year 2020. However, the costs of integrating wind power's variable and uncertain output are often ignored. I argue that California must take prudent action to understand, minimize, and allocate wind integration costs. A review of numerous studies suggests that for wind penetration levels below 20%, integration costs should remain modest. However, costs are heavily dependent on market structure, and I suggest numerous ways that California can optimize its market design to manage wind integration costs.

A Normal Truncated Skewed-Laplace Model In Stochastic Frontier Analysis, Junyi Wang

Masters Theses & Specialist Projects

Stochastic frontier analysis is an exciting method of economic production modeling that is relevant to hospitals, stock markets, manufacturing factories, and services. In this paper, we create a new model using the normal distribution and truncated skew-Laplace distribution, namely the normal-truncated skew-Laplace model. This is a generalized model of the normal-exponential case. Furthermore, we compute the true technical efficiency and estimated technical efficiency of the normal-truncated skewed-Laplace model. Also, we compare the technical efficiencies of normal-truncated skewed-Laplace model and normal-exponential model.

Behavioral Economics And Physician Behavior, Allyssa S. Ward

Honors Theses

This study seeks to answer whether the availability heuristic leads physicians to utilize more medical care than is economically efficient. Do rare, salient events alter physicians' perceptions about the probability of patient harm? Do these events lead physicians to overutilize certain medical procedures? This study uses Pennsylvania inpatient hospital admissions data from 2009 aggregated at the physician level to investigate these questions. The data come from the 2009 Pennsylvania Health Care Cost Containment Council (PHC4).

The study is divided into two parts. In Part I, we examine whether bad outcomes during childbirth (defined as maternal mortality, an obstetric fistula or …

Valuation Of Financial Derivatives Subject To Liquidity Risk, Yanan Jiang

UNLV Theses, Dissertations, Professional Papers, and Capstones

Valuation of financial derivatives subject to liquidity risk remains an open problem in finance. This dissertation focuses on the valuation of European-style call option under limited market liquidity through the dynamic management of a portfolio of assets. We investigate liquidity from three perspectives: market breadth, depth, and immediacy. We present a general framework of valuation based on the optimal realization of a performance index relative to the set of all feasible portfolio trajectories. Numerical examples are then presented and analyzed that show option price increases as the market transitions from liquid to less liquid state. Furthermore, buying and selling activities, …

Simple Ecosystem Service Valuation Can Impact National Forest Management, David E. Ervin, Gary Larsen, Craig Shinn

Economics Faculty Publications and Presentations

This essay is about how a relatively simple application of the ‘new scarcity’ paradigm for non-market ecosystem services (Simpson, Toman and Ayres 2005) changed the management plan for a national forest. We identify lessons from our experience for AERE members.

Arsenic Contamination In Groundwater In Vietnam: An Overview And Analysis Of The Historical, Cultural, Economic, And Political Parameters In The Success Of Various Mitigation Options, Thuy M. Ly

Pomona Senior Theses

Although arsenic is naturally present in the environment, 99% of human exposure to arsenic is through ingestion. Throughout history, arsenic is known as “the king of poisons”; it is mutagenic, carcinogenic, and teratogenic. Even in smaller concentrations, it accumulates in the body and takes decades before any physical symptoms of arsenic poisoning shows. According to the World Health Organization (WHO), the safe concentration of arsenic in drinking water is 10 µg/L. However, this limit is often times ignored until it is decades too late and people begin showing symptoms of having been poisoned.

This is the current situation for Vietnam, …

The Effects Of Property Rights On Ocean Resources: Two Possible Solutions To The Tragedy Of The Commons, Nathan David Miller

Honors Program Theses

Property rights affect how people use resources. Enforcement regimes are able to set clear laws with well-defined property rights. Governments set laws for conservation and economic success. Ocean resources suffer from overuse. Industry and the environment both benefit from regulations that promote ocean conservation. This paper will analyze how the current state of ocean property rights leads to the depletion of ocean resources. Though there are many possible solutions to overfishing, I will analyze two potential solutions to overexploitation in the commercial fishing industry: marine protected areas (MP As) and individual transferable quotas (ITQs ). A synthesis of previous research …

Measuring Spillover Effects Of Residential Amenity Improvements Using Spatial Hedonic Approach, Shruti Bishan Tandon

UNLV Theses, Dissertations, Professional Papers, and Capstones

The purpose of this dissertation is to develop a methodology for the estimation of the appropriate welfare benefits in the presence of spillover externalities. The ability to capture influences of the not so easily observed variables allow spatial lag models to measure the direct and indirect spillover effects. The direct effect measures the value of the property in question and the indirect captures the influences of neighboring properties, through a spatial multiplier effect.

Kim et al. (2003) through a path breaking approach estimated welfare benefits of air quality improvement. Their methodology captured spillover effects of amenity changes that lump both …

Understanding Urban Sustainability And Quality Of Life: A System Dynamics Approach, Abby Elizabeth Beck

UNLV Theses, Dissertations, Professional Papers, and Capstones

For an urban area to be sustainable, its resources cannot be depleted faster than they can replenish. If an urban area is to provide a high quality of life (QOL), it must offer and maintain an amenity package that satisfies its resident's preferences. Past studies on these topics all have a common thread: sustainability and QOL both pertain to people's relationship to capital. Capital is something that can accumulate and add value to a person or society. If sustainability and QOL are a function of people's relationship with capital, how they use it, deplete it, replenish it and transform it …

Meta-Analysis Of Environmental Kuznets Curve Studies: Determining The Cause Of The Curve’S Presence, Brittany Goldman

Honors Projects

This investigation uses meta-analysis to explore the systematic variation across Environmental Kuznets Curve (EKC) studies to better understand the specific factors that affect the relationship between economic growth and environmental quality. Meta-analysis is the statistical synthesis of data from a set of comparable studies yielding a quantitative summary of pooled results. Following the findings of Li et al., (2007) a multinomial logit model is employed to analyze 929 observations from 120 different studies published between 1992 and 2012. Results indicate that seven variables (time, quality, emissions, development, fitness, anthropogenic-related gases, carbon dioxide, and sulfur dioxide) significantly affect the presence of …

How Does Climate Change Affect Agricultural Stability In Southeast Unguja? An Assessment Of The Threats To Agriculture And Food Security From Rising Temperature And Changes In Predictability And Intensity Of Rainy Seasons., Eloise Reid

Independent Study Project (ISP) Collection

The relationship between climate change, agriculture, and food security on the island of Unguja was studied. Informal interviews were carried out in the south-eastern coastal communities of Bwejuu, Paje, and Jambiani in order to gain perspective and awareness of local knowledge concerning changes in climate and it's affects on crop production. Formal interviews were conducted in Stone Town with the Ministry of Agriculture, the Department of Environment, the Sustainable Management of Land and the Environment office, private climate change experts and environmental consultants, and local NGO's to gain insight on what aspects of climate change are most detrimental in the …

Confronting Agrarian Crisis And Deconstructing Farmer Debt: The Story Of Sulthanpur Village, Andhra Pradesh, Erica Dejong

Independent Study Project (ISP) Collection

In a climate of globalized politics and neoliberal economics, it can be difficult to isolate the impacts of agricultural and economic policy on the lives of the rural poor in India. Hidden behind a veil of economic growth, pro urban, and pro industry governments, the stories of small and marginal farmers have been overlooked in the name of different development priorities. This study endeavors to put the agrarian poor back into the scholarship spotlight by deconstructing livelihood crises and farmer debt in Sulthanpur Village, Andhra Pradesh. This effort is important because although Andhra Pradesh has the highest rate of farmer …

How One Trade Could Change The World: High Frequency Trading And The Flash Crash Of 2010, Sarah Perlman

Honors Projects in Finance

Financial markets are controlled directly by a small population of people, but have direct effects on almost every aspect of the global community. Financial markets are now flooded with computerized algorithms that have drastically changed the face of trading. As with any advances in technology, there are always unforeseen events that create new challenges, and adjustments that need to be made. In our increasingly global and technological world, one wrong click of the mouse in New York could affect the stock markets in London, Tokyo, and Brazil. On May 6th, 2010, such a situation occurred and caused the Dow Jones …

The Effect Of Climate Change On Mongolian Herding Communities: Investigating The Current Prevalence Of Ecomigration And Community Perceptions Of And Responses To Migration In The Countryside, Rachael Diniega

Independent Study Project (ISP) Collection

The livelihoods of Mongolian herders depend on rangeland conditions, which are being threatened by land degradation and climate change. These changes may cause some Mongolian herders to move to a different land. Thus, the prevalence of ecomigration today and the perceptions and responses of herding communities to migrants were examined to understand ways government could form adaptation policy to climate change in the future. Interviews were conducted with both migrant and host herders as well as government officials in Mungunmorit, Tov and Delgerkhan, Khentii, including the state reserve Herlen Bayan-Olaang. A survey was used to evaluate the prevalence of ecomigration …

Finding Dynamic Treatment Effects Under Anticipation: Spanking Effects On Behavior, Myoung-Jae Lee, Fali Huang

Research Collection School Of Economics

The dynamic treatment effect literature considers multiple treatments administered over time, with some treatments affected by interim outcomes. But the literature overlooks the possibility of individuals acting in anticipation of future treatments. This lack of anticipation aspect may not matter in the drug–response relationships which motivated the literature. But human beings (or animals with some intelligence) do not just respond to current and past treatments, but also ‘reflect and anticipate’ future treatments. For example, a punishment or reward is likely to prompt forward looking. Even if no personal punishment or reward is involved, people may take action in anticipation of …

West Of Eden: Resource Wars And Nature-Cultures In The American West, Scout Calvert

University of Nebraska-Lincoln Libraries: Faculty Publications

The richness and variety of the western landscape is what is at stake in hot political contests for the resources of the West: much of this public land is available to economic activity, including for mining, grazing, logging, and recreation. These uses threaten to outpace the land’s ability to renew these resources along with others, like air and water. Now in the first decade of the millennium with a new environmental awareness emerging partly from media coverage of global warming and peak oil, The American West at Risk offers a wide-ranging look at the degradation of the environment in the …

The Steady-State Economy As A Solution To The World’S Problems: A Theoretical Examination Of The Greatest Environmental Problem Facing Human Society, Brianna L. Besch

The Macalester Review

This paper is a theoretical exploration of the questioning, if you were given a magic power to solve one, and only one, of the worlds problem outlined by a classic environmental author, which would you solve, and why? While the field of environmental studies is relatively new, since the publishing of Malthus’ An Essay on the Principles of Population environmental scholars have been debating what should be considered the greatest environmental problem facing humanity. This paper explains how the creation of a steady-state economy to replace our current economic system, as described by Herman Daly, offers a holistic solution to …

Agriculture Futures: Potential Rural Land Uses On The Palusplain, Rodney Safstrom, Nicolyn Short Dr

Resource management technical reports

The purpose of this project was to identify agricultural land use options and opportunities within the Serpentine–Jarrahdale and Murray Shires, with particular focus on the Palusplain wetland section. The report will contribute to the Department of Planning’s natural resource management plan for the region and guide development of regional and local planning strategies. Historically, the Palusplain was a slowly moving, interconnected, seasonal wetland system with areas of higher ground. Extensive clearing and drainage occurred in the late 1800s through to the mid-1900s to facilitate agriculture; however, agriculture has been found to be a major contributor of nutrients to the system. …

The New Hampshire Greenhouse Gas Emissions Reduction Fund: Year 3 (July 2011-June 2012) Evaluation, Matthew Magnusson, Cameron P. Wake

The Sustainability Institute Publications

The Greenhouse Gas Emissions Reduction Fund (GHGERF) was created by the New Hampshire legislature in 2008 and has been administered by the New Hampshire Public Utilities Commission (PUC). The purpose of the Fund was to support energy efficiency, energy conservation, and demand response programs to reduce New Hampshire’s greenhouse gas emissions. Funding was derived from the State’s participation in the Regional Greenhouse Gas Initiative (RGGI), a cooperative effort by nine northeastern states to reduce carbon dioxide emissions in the electric power sector via a cap and trade program. As of June 2012, RGGI auctions have resulted in revenues to New …

Sense And Sustainability, Ken Hickson

Social Space

Like the proverbial chicken and egg, climate change and sustainability are inextricably linked; it is impossible to decide which comes first, but urgent solutions are needed. Ken Hickson delivers a timely lesson on the four E’s of sustainability—energy, environment, economics and ethics.

Tackling Tax Evasion: Transfer Price Manipulation, Extractive Natural Resources And A Strategy For The Southern African Customs Union, Patrick Grant Mclennan

Electronic Theses and Dissertations

An increase in the number of multinational enterprises (MNEs) has increased the attention on cross-border challenges, such as transfer price manipulation (TPM). TPM is a development issue - it undermines institutions as well as siphons money from government revenues that could be directed towards programs for human development. Pervasive corruption in the natural resource sector supports an environment where TPM can flourish. This paper develops a strategy for combating TPM within the countries of the Southern African Customs Union. It does this by 1) defining the terrain of illicit flows, both generally and specifically to the abuse of transfer pricing …

Analysis Of Discrete Choice Probit Models With Structured Correlation Matrices, Bhaskara Ravi

Mathematics & Statistics Theses & Dissertations

Discrete choice models are very popular in Economics and the conditional logit model is the most widely used model to analyze consumer choice behavior, which was introduced in a seminal paper by McFadden (1974). This model is based on the assumption that the unobserved factors, which determine the consumer choices, are independent and follow a Gumbel distribution, widely known as the Independence of irrelevant Alternatives (IIA) assumption. Alternate models that relax IIA assumption are the Generalized Extreme Value (GEV) models, which allow dependency between unobserved factors. However, GEV models do not incorporate all dependency patterns, other choice behaviors such as …

A Systems Approach To Ecological Economic Models Developed Progressively In Three Interwoven Articles, Takuro Uehara

Dissertations and Theses

My dissertation develops and analyzes ecological economic models to study the complex dynamics of an ecological economic system (EES) and investigate various conditions and measures which can sustain a developing economy over the long term in view of resilience and sustainability. Because of the intrinsic complexity of the system, I take a systems approach, using economics as the foundation for the basic structure of an ecological economic model, and system dynamics as the method to build and analyze such a complex ecological economic model. Throughout my dissertation, the model developed by Brander and Taylor (1998) is adopted as a baseline …

The Chernobyl Disaster : Reflection After 25 Years = 切爾諾貝爾核災難25年後的反思, Valentin Yakushik

South South Forum 南南論壇

The adverse technogenic impact of industrial accidents that have gripped the world in recent decades definitely testifies to the problem-ridden character of contemporary economic and technological development. This is especially evident on the example of nuclear industry, which proved to be a source of dangerous pollution in case of potential (and real) catastrophes, as recently borne out by the Fukushima disaster. In this regard, the issues of Chernobyl disaster once again become the part of the discourse centered on the analysis of global nuclear industry problems. Likewise, current situation in Ukraine demands deeper investigation of the problems of technological development, …

Empathy-Based Conservation: An Interdisciplinary Approach To Conservation Policy And Decision-Making, Kaitlyn Delashmutt

Department of Environmental Studies: Undergraduate Student Theses

In the late 20^th century, neuroscientists in Italy discovered a neuron in the brain capable of mentally mimicking the emotions derived from the actions of others (Rizzolatti and Craighero, 2004). It is the process that makes your elbow ache when someone else knocks their elbow on the counter or the uncontrollable smile that creeps up when someone smiles at you. No questions asked, people intuitively sense what others are feeling. The old school of thought was that humans deduced through logic and reason the actions of others and interpreted the emotions through a rational process (Carew et al, 2008). …

Contributions Of Financial Sector Reforms And Credit Supply To Nigerian Agricultural Sector (1978-2009), Anthony O. Onoja, M. E. Onu, S. Ajodo-Ohiemi

CBN Journal of Applied Statistics (JAS)

This study analyzed the trends and pattern of institutional credit supply to agriculture during pre- and post-financial reforms along with their determinants. It then compared the effects of reform policies on access to institutional credits in Nigerian agricultural sector before and after the reforms (1978 - 1985; and 1986 -2009). Relying mainly on time series data from CBN and NBS, it used ordinary least squares method (linear, semi-log and double log) to model the determinants of banking sector lending to the agricultural sector during the review period. The models were subjected to several econometric tests before accepting one. Chow test …

Determinants Of Foreign Reserves In Nigeria: An Autoregressive Distributed Lag Approach, David Irefin, Baba N. Yaaba

CBN Journal of Applied Statistics (JAS)

On global scale, central banks’ holdings of foreign reserves have escalated sharply in recent years. World international reserves holdings have risen significantly from US$1.2 trillion in 1995 to nearly US$10.0 trillion in June 2011. Dominant among these reserves are concentrated in the hands of few countries. Ten major holders of foreign reserves are mostly from Asia. Oil exporting countries in Africa and the Middle East are not left out in this trend. Nigeria’s foreign reserves rose from US$5.5 billion in 1999 to US$62.40 billion in July 2008, making Nigeria the twenty-fourth largest reserves holder in the world. This pace of …