Economics Commons^™

Craft Beer Expansion In The United States, Alex J. Herrera

CMC Senior Theses

For centuries the world’s biggest breweries, including Anheuser-Busch InBev and MillerCoors, have been producing America’s favorite beers like Budweiser and Coors Light. However, more recently smaller, craft breweries have seen significant expansion as a growing number of Americans are drinking craft beers. How has this recent trend affected the beer market in the United States? More specifically, how has the recent success of craft breweries affected Anheuser-Busch InBev and MillerCoors? I examine the economic factors that have led to craft beer’s success in a highly competitive market, and further, how this success has impacted Anheuser-Busch InBev and MillerCoors. My study …

"And The Winner Is..." Predicting Presidential Elections, Amanda Lin

CMC Senior Theses

This paper establishes a model to forecast the Presidential election outcomes, particularly the 2016 United States Presidential Election by analyzing two distinctive approaches: predicting election wins through voting function, and using approval ratings as proxy for votes. I examine and replicate previous models for vote share of the Democratic Party and of the government for elections from 1948 to 2012. Then, I construct a model for approval ratings based on economic and non-economic variables. My findings have direct implications for forecasting elections and the political business cycle.

"I Voted": Examining The Impact Of Compulsory Voting On Voter Turnout, Nina A. Kamath

CMC Senior Theses

Over the past few decades, falling voter turnout rates have induced governments to adopt compulsory voting laws, in order to mitigate issues such as the socioeconomic voter gap and to bring a broader spectrum of voters into the fold. This paper presents evidence that the introduction of mandatory voting laws increases voter turnout rates by 13 points within a particular country through an entity- and time-fixed effect panel model. Moreover, it includes a discussion of the implications of adopting mandatory voting policies within the United States, finding that compelling citizens to vote would have increased participation rates to over 90 …

A Critical Examination Of Oil Wealth Management Strategies And Their Effects On Economic Growth In The Gulf Cooperation Council Countries, Caroline J. Belmont

CMC Senior Theses

Despite their natural resources, the countries of the Gulf Cooperation Council (Kuwait, the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, and Oman) have failed to live up to their economic potential, primarily due to their dependence on a revenue source with volatile prices and political significance in an unstable region. This thesis argues that the best way to convert oil wealth into consistent long term growth is through diversification, both by investing in foreign assets and by growing domestic sectors that are independent from oil and gas prices. The research further investigates the primary tool these countries have used to …

Relationships Within The Family Tree: Roots Of Recidivism, Madison Gebhard

CMC Senior Theses

This paper seeks to examine the correlation between family relations and habitual criminal activity. Building on previous research analyzing the power and influence of positive family environments on criminal behavior, I studied the effect of parent-child relationships as determinants of adult recidivism. My results corresponded with previous studies and implied a direct correlation between positive relationships and recidivism reduction. Furthermore, my findings support the research illustrating the effect of a person's family criminal history, level of education, and socioeconomic status on criminal behavior, which may ultimately have an effect on these influential ties between parents and children.

You Are What You (Can) Eat: Cultivating Resistance Through Food, Justice, And Gardens On The South Side Of Chicago, Ida B. Kassa

Pomona Senior Theses

Though food is widely recognized as a basic necessity for humanity, disparate access to it highlights whose bodies, environments, health, nutrition, and utter existence has mattered most in American society—and whose has mattered the least. Through interviews with residents of the South Side of Chicago about the alternative food pathway they’ve forged for themselves, we learn that food becomes much more than just sustenance. Interviewees describe our present day food system as undeniably rooted in a history of enslavement and exploitation of Black and Brown bodies; they regard food justice work by communities of color as an important source of …

Magic Bullet, Karen Haydock

The Transdisciplinary STEAM+ Journal

Two of the most powerful types of corporations in the world today are those that produce pharmaceuticals and weapons. While the corporations are concerned with increasing their profits, we wonder if their products have any magical powers.

[India ink on rag paper]

This poster explores the military-industrial complex. The weapons industry profits through imperialism. The pharmaceutical industry profits through by taking advantage of people’s illnesses.

The poster has multiple interpretations, hopefully encouraging the viewer to participate by asking relevant questions, such as:

“What is that person drinking?”

”Are they pills or bombs?”

“Medicines cure us - how can a pill …

Book Review, Political Science. Volume 1, The Indian State. Icssr Research Surveys And Explorations, Aseema Sinha

CMC Faculty Publications and Research

This book maps the scholarly terrain on the Indian state. The book holds great promise, as the last survey was done in 1995. The volume seeks to understand the state through an analysis of the “social character” of the Indian state, the political economy of the Indian state, social policy, and law and rights. It is a well-edited collection from scholars based in India.

Mass Media Consumption In Post-Soviet Kyrgyzstan And Kazakhstan: The View From Below, Barbara Junisbai, Azamat Junisbai, Nicola Ying Fry

Pitzer Faculty Publications and Research

This article examines how ordinary people utilize and assess the information options available to them drawing on original, nationally representative surveys conducted in 2012 in Kazakhstan and Kyrgyzstan, two regimes characterized by different trajectories since independence. In both countries, television is the main go-to source, while the Internet is used least. Trust in media, however, follows an unexpected pattern. On average, media enjoy higher levels of trust in Kazakhstan than in Kyrgyzstan, despite greater media independence and pluralism in the latter. Ironically, open political competition and media freedom in Kyrgyzstan may have a dampening effect on public trust, while in …

Standardization And The Impacts Of Voluntary Program Participation: Evidence From Environmental Auditing, Mary F. Evans, Lirong Liu, Sarah L. Stafford

CMC Faculty Publications and Research

We explore how limits to our insight about the underlying decision-making structure of firms may affect the conclusions we draw about the likely impacts of participation in voluntary environmental programs. We develop a theoretical model to examine the conditions under which a multi-facility firm chooses to employ a standardized adoption policy for a voluntary program. We test this model empirically using a firm-level dataset on the adoption of a voluntary environmental auditing program and find that, consistent with the theoretical model, a standardized auditing outcome is less likely among firms with more heterogeneous portfolios of facilities. We also examine the …

The Eu Budget's Impact On Public Opinion, Kai Stern

Claremont-UC Undergraduate Research Conference on the European Union

Public opinion on the European Union (EU) is significant and therefore a worthwhile topic of consideration. Analyses have identified and ordered the factors that impact public opinion on the EU, as well analyzed the efficacy of EU funds. Yet the confluence of these two lines of inquiry is understudied. Some Member States have surpluses and others deficits relative to the EU budget, which could impact citizens’ perceptions of the EU. To gauge this potential relationship, this article notes deficit and surplus Member States and responses to one Eurobarometer question about trust in the European Commission from 2000-2013. These variables are …

Implementing (Environmental) Justice: Equity And Performance In California's S.B. 535, Meagan Tokunaga

Pomona Senior Theses

This thesis evaluates the equity performance of a recent state environmental justice policy, California’s Senate Bill 535 (S.B. 535). “Environmental justice” refers to the disproportionate environmental harm imposed on low-income and minority communities. S.B. 535 uses competitive grants to provide funding to these communities. The research is centered around two questions: (1) to what extent has S.B. 535 experienced successful implementation in its first year of operation, and (2) how can policy actors improve implementation while balancing performance and equity goals? In regards to the first question, I utilize a case study of the policy’s implementation within 17 local governments …

What Is The 'Economic Value' Of Learning English In Spain?, Molly M. Robbins

Scripps Senior Theses

This paper uses historical and economic references to evaluate the economic value of learning English in Spain. Seeing that English is the lingua franca in politics, business, and technology, it is a necessary skill for Spanish citizens to possess in order to efficiently interact in foreign relations of all kinds. Due to Franco’s harsh language policies, and Spain’s ineffective education system, Spain has lacked the same linguistic exposure to foreign languages—especially English—than the rest of Europe. By referencing the previous literature written about the relationship between language and earnings, this paper seeks to find the economic incentive for Spaniards to …

Price, Perceived Value And Customer Satisfaction: A Text-Based Econometric Analysis Of Yelp! Reviews, Eleanor A. Dwyer

Scripps Senior Theses

We examine the antecedents of customer satisfaction in the restaurant sector, paying particular attention to perceived value and price level. Using Latent Dirichlet Allocation, we extract latent topics from the text of Yelp! reviews, then analyze the relationship between these topics and satisfaction, measured as the difference between review rating and user average review rating.

Successfully Financing Classical Music Kickstarter Projects, Sarah Chung

Scripps Senior Theses

With the rise of technology and finance, crowdfunding has been uprising as a popular method of financing projects. Kickstarter provides an online platform in which anyone with Internet access can upload their own project “pitch” to gain funding for their idea on an all-or-nothing model. My thesis explores financial trends and factors that potentially contribute to a successful Kickstarter campaign within the classical music projects subcategory. I use a logistic regression and the Ordinary Least Squares model to examine a dataset of already successfully funded projects and a second dataset that contains both successfully and unsuccessfully funded projects that were …

America’S College Promise: An Economic Evaluation Of President Obama’S Free Community College Plan, Yue Guan

Scripps Senior Theses

In his 2015 State of the Union Address, President Obama announced “America’s College Promise,” a plan to make community college free for all American families making less than $200,000. In this thesis, I provide an analysis of the plan and provide an evaluation of its potential impact on the education attainment gap in the United States. I also evaluate the plan’s various components and assess its potential impact on community college student enrollment, completion, and transfer to four-year universities. Lastly, I offer recommendations for improvement.

It's The Economy, Stupid: Economic Voting And Gender Bias In U.S. Congressional Elections, Grace Lutz

Scripps Senior Theses

This study examines the relationship between the state of the U.S. economy and the outcome of general elections for incumbents in the U.S. House of Representatives. The analysis uses a unique data set compiled from a sample of U.S. Congressional Elections and state and economic indicators between the years 1999 and 2014. We find that economic indicators are consistently related to election outcomes, but have a larger and more significant effect when the time period examined is closer to a major economic event, such as the Great Recession. We also find that female incumbent candidates are more negatively affected by …

The Economic Impact Of Transportation Network Companies On The Taxi Industry, Alice Wang

Scripps Senior Theses

Transportation Network Companies (TNC) are companies that use online-enabled platforms to connect passengers with drivers. In recent years, they have sparked controversy with the taxi industry, which accuses TNCs of operating unfairly. In my study, I look at taxi regulation, consumer transportation preferences, and costs and benefits of TNCs. I analyze data comparing three of these companies, Uber, Lyft, and Sidecar, with a traditional taxicab, and evaluate trends in taxi employment from the Bureau of Labor Statistics. I find that Transportation Network Companies generally have shorter wait times, cheaper prices, and increased convenience, aspects that appeal to consumer preferences. I …

Player Compensation And Team Performance: Salary Cap Allocation Strategies Across The Nfl, Max Winsberg

CMC Senior Theses

The National Football League’s salary cap constrains the available resources each franchise is allotted to spend on player personnel. I examine the effects of executive management’s compensation allocation strategies on team performance from 2006 to 2013. The findings suggest that spending more than the league-average on offensive lineman hurts overall team performance. Spending above the league average on both the offensive line and quarterback positions negatively affects offensive performance as well. This supports previous research stating that taking a superstar-approach to cap distribution negatively affects team performance. Furthermore, I find evidence of increased compensation inequality among players under the Collective …

Reverse Line Movements In Nfl Gambling: Parallels To Financial Market Biases And The Imitation Of Informed Bettor Strategies, Philip S. Crawford

CMC Senior Theses

Participants in the NFL gambling market can largely be divided into two distinct groups: informed bettors (“Sharps”) and uninformed bettors (“Squares”). Empirical and anecdotal evidence suggest that the dynamic between Sharp and Square bettors is very similar to that between institutional and retail investors. Professionals tend to be far better informed and utilize rational betting/investing strategies while individuals exhibit biases which perpetuate irrational strategies and therefore pricing inefficiencies. This study finds that uninformed participants in financial markets and the NFL betting market do share similar biases, and that these biases can be exploited by informed participants to generate positive excess …

Corporate Inversions: Realigning Tax Incentives To Keep Corporations In The United States, Michael A. Gose

CMC Senior Theses

ABSTRACT

This thesis analyzes the corporate income tax, more specifically related to foreign sourced income, and proposes a solution to reduce the desirability of tax inversions and restore the competitiveness of United States’ corporations. The paper introduces the topic and discusses why corporate taxation has returned to the forefront of political discussion. It then addresses early 2000s regulation passed in response to increased inversion activity of the late ‘90s and how that regulation failed to achieve its intended purpose. Then, the current laws will be introduced with a focus on corporate actions to circumvent these laws in order to reduce …

Friends In High Places: Measuring The Effects Of Compensation Committee Characteristics On Ceo Pay Packages In 2013, Danielle M. Knott

CMC Senior Theses

In the past decade, public scrutiny surrounding rising levels of executive compensation has led to more stringent independence requirements for compensation committees. However, there is little research studying the effects of compensation committees on executive pay from the time these new requirements were implemented. My paper studies the effects of compensation committee chair personal ties to the CEO, economic interests, and group committee characteristics on both the level and structure of CEO compensation. My findings suggest that certain committee chair personal ties to the CEO are associated with both a higher level of CEO compensation and a higher percentage of …

An Exposition And Calibration Of The Ho-Lee Model Of Interest Rates, Benjamin I. Lawson

CMC Senior Theses

The purpose of this paper is to create an easily understandable version of the Ho-Lee interest rate model. The first part analyzes the model in detail, and the second part calibrates it to demonstrate how it can be applied to real market data.

Deconstructing The Third Rail: An Analysis Of The Issue Of Poverty In The United States Through The Lens Of Social Security, Nikita Mehandru

CMC Senior Theses

The ongoing debate over welfare in the United States is rooted in the long-standing tension between the nation’s commitment to providing for its most vulnerable and a deep-seated belief that such support can corrupt its recipients. Social Security has struck this balance and appeals to the masses with its pay-as-you-go system and universally distributed benefits. Yet, the solvency of Social Security is threatening the program that has attempted to guard against old age and disability for the last eighty years. This paper examines how the perception of poverty in the United States is a hindrance when tackling social welfare policies. …

The Changing Relationship Between Fertility And Female Emplyment, Viraj Shastri

CMC Senior Theses

Recent literature finds that in OECD countries the cross- country correlation between the total fertility rate and the female labor force participation rate has changed from negative till the mid-1980s to positive afterwards. In sharp contrast, other studies show that this negative relationship continues to exist, however the magnitude of the effect is lower. In this paper I look at a panel of 23 OECD aggregate fertility and labor market data from 1965 – 2013 and account for country as well as year fixed effects. My findings document that there exists a negative relationship between fertility and female employment for …

Examining The Relationship Between Received Remittances And Education In Malawi, Kasvi Malik

CMC Senior Theses

This thesis examines the relationship between received remittances and education using random samples from panel survey data from households in rural Malawi collected between 2008 and 2010. Past research as well as that conducted in this paper point to the fact that remittances and education share an important correlation. The results of this study indicate that on a microeconomic level, remittances have a highly significant and positive impact on household education. Other remittance-related factors such as the distance from agent, the remittance amount, and the type of account held by an individual also have a significant impact on the highest …

The Resource Curse And Economic Freedom: A Bayesian Perspective, Danielle M. Roberts

CMC Senior Theses

The literature addressing the resource curse has been extensive. Many studies have put forth theories to explain the curse, but these theories are often refuted by new studies. Recently, there has been a theory that natural resource abundance leads to decreased economic freedom, which causes slower economic growth. Many of these studies have using frequentist testing to arrive at their conclusions. Although frequentist testing is widely used, there are several drawbacks. In particular, there is no way of addressing model uncertainty. Unless a study is able to incorporate every significant explanatory variable, the results will suffer from omitted variable bias. …

Applications Of Monte Carlo Methods In Statistical Inference Using Regression Analysis, Ji Young Huh

CMC Senior Theses

This paper studies the use of Monte Carlo simulation techniques in the field of econometrics, specifically statistical inference. First, I examine several estimators by deriving properties explicitly and generate their distributions through simulations. Here, simulations are used to illustrate and support the analytical results. Then, I look at test statistics where derivations are costly because of the sensitivity of their critical values to the data generating processes. Simulations here establish significance and necessity for drawing statistical inference. Overall, the paper examines when and how simulations are needed in studying econometric theories.

County Level Economic Voting In U.S. Presidential Elections, Martin R. Sartorius

CMC Senior Theses

This thesis seeks to understand the relationship between county level economic voting and county level economic voting by demographic group on county level vote shares for U.S. presidential elections. Using an entity and time fixed effects regression model, I study the effects that county level growth in real per capita personal income and unemployment rate change have on county level two-party vote share for the Democratic Party. Additionally, I observe the responsiveness of a county’s voting behavior due to the demographic makeup of that specific county. I then compare my initial results to those of Eisenberg and Ketcham (2004) for …

The Evolution Of Black-White Wage Inequality Across Occupational Sectors In The Us Since The 1990s, Tianxiao Ye

CMC Senior Theses

This paper updates the current knowledge about Black-White wage inequality in the US male labor market by using the NLSY97 sample. Compared with the results obtained from the NLSY79 cohort, I find that the unconditional racial wage inequality is smaller today, but after controlling for premarket academic skills, the conditional racial wage gap remains roughly the same as it was twenty years ago. After dividing the labor market by occupational categories, I find that in the white collar sector, the racial wage gap has largely disappeared even without controlling for academic skills. In the blue collar sector, academic skills can …