Economics Commons^™

Three Essays In Economics Of Prey-Predator Relation, Dong-Hun Go

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This dissertation explores how natural ecosystem can be integrated with economic system through two case studies of multiple species interactions, or predator-prey relations. By the inclusion of biological, ecological and economic aspects, the integrated approaches aim at more clearly understanding of how regional ecosystem and economy interact with each other, given threats of resource extinction and environmental shock. I also explain strategies and policy regimes that can be considered to achieve efficient and sustainable ecosystem management in those circumstances.

The first case study focuses on a predator-prey relation in the Pacific Ocean between the United States and Canada, where endangered/threatened …

The Nfl And Trump: Did Protesting Cause The Decline?, Jameson Osmond

Undergraduate Honors Capstone Projects

This project is a study in econometric modeling of the effects of the protests of the national anthem in the NFL during the 2016-2017 seasons. The project is created to determine the accuracy or lack thereof of President Donald Trump's statement that the cause of the decline in viewership and ratings (and thus business) of NFL games was caused by protests that deterred US viewers.

Using viewership and rating data, along with various protest indexes created by collecting game-level protest data, an econometric model was constructed to allow for control over various endogenous and exogenous variables that surround NFL in-season …

Affirmative Action Bans: Assessing Impacts In A Cross-State Context, Jacklyn M. Sullivan

Undergraduate Honors Capstone Projects

This paper builds on previous research on the effect affirmative action bans have on attendance rates for minorities at public and private universities. In total, nine states have implemented affirmative action bans between the present year and 1997. This paper analyzes data from the American Community Survey and provides an overview of related court cases and voter referendums to discuss this policy's effects. We find that affirmative action bans lead to an overall decrease in college attendance for minority students, most prominently seen in an attendance decrease for black students.

Professional Development Needs Of Utah State University Extension Professionals, Callahan K. Ward

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Many Utah State University (USU) Extension personnel are nearing retirement age. The purpose of this study was to identify professional development needs of Extension professionals and assess USU Extension by evaluating competencies essential to be a successful Extension professional. USU Extension can conduct more beneficial professional development training by using identified high priority competencies and improve the on boarding process for new Extension professionals. With improvements as suggested, the effectiveness of professional development could be enhanced and produce Extension professionals who work more efficiently and are committed to the success of USU Extension.

Career: Location-Aware Social Science For Adaptation: Modeling Dynamic Patterns In Public Perceptions And Behavior, Peter D. Howe

Funded Research Records

No abstract provided.

Green Competition, Hybrid Equilibrium, And Establishment Of A Resale Market, Arthur J. Caplan, Reza Oladi

Applied Economics Faculty Publications

This paper investigates competition between firms whose choices of how much "green effort" to devote to building their reputations as socially responsible producers are determined in the contexts of simultaneous-move and hybrid simultaneous/sequential-move Bertrand equilibria. We derive conditions under which (1) the inter-temporal, green-effort reaction function of the firm with the less-aggressive green strategy is non-monotonic, (2) the level of green effort chosen by the firm with the more-aggressive green strategy increases when it views itself as the leader in a hybrid game rather than moving concurrently in a simultaneous-choice game, and (3) the establishment of a resale market by …

Primed For Death: Law Enforcement-Citizen Homicides, Social Media, And Retaliatory Violence, Vladimir Bejan, Matthew Hickman, William S. Parkin, Veronica F. Pozo

Applied Economics Faculty Publications

We examine whether retaliatory violence exists between law enforcement and citizens while controlling for any social media contagion effect related to prior fatal encounters. Analyzed using a trivariate dynamic structural vector-autoregressive model, daily time-series data over a 21-month period captured the frequencies of police killed in the line of duty, police deadly use of force incidents, and social media coverage. The results support a significant retaliatory violence effect against minorities by police, yet there is no evidence of retaliatory violence against law enforcement officers by minorities. Also, social media coverage of the Black Lives Matter movement increases the risk of …

Gordon Tullock's Critique Of The Common Law, William F. Shughart Ii

Economics and Finance Faculty Publications

Gordon Tullock, trained in the law at the University of Chicago, was an implacable critic of the common law, which originated in England centuries ago and was transplanted to the United States, Canada, Australia, and other English-speaking nations during colonial times.¹ Tullock generally favored legal regimes based on civil law or "Roman civil law," the latter being the phrase used by John Henry Merryman and Rogelio Pérez-Perdomo ([1969] 2007) to solve a terminological problem in the comparative legal studies literature.² Although applications of that regime differ from place to place and have evolved over time (as, of course, …

A Review Of Economic Studies Relating To The Bureau Of Land Management's Wild Horse And Burro Program, Paul M. Jakus

Human–Wildlife Interactions

This paper reviews literature addressing the benefits and costs of the Bureau of Land Management’s Wild Horse and Burro (WHB) Program. Within the framework of a comprehensive benefit cost analysis of the WHB Program, I find that program cost estimates are readily available from numerous sources. A more limited set of estimates of the opportunity cost of WHB on the range is available, as is a single estimate of the benefits provided by animal adoption. In contrast, there are no economic estimates of ecological damages caused by WHB in excess of the Appropriate Management Level, nor does a search of …

A Note On Mitigating The Adverse Scale Effects Associated With Daily Driving Restrictions, Arthur J. Caplan, Man-Keun Kim

Applied Economics Faculty Publications

This paper investigates the role of additional regulation in mitigating the “adverse scale effect” associated with daily driving restrictions, which has become a popular regulatory tool used to control episodic air pollution internationally, especially in developing countries. We find that although an annual vehicle registration tax reduces the incentive to purchase additional vehicles among households whose sole purpose for doing so is to “cheat” the restriction (i.e., the “adverse scale effect”), it does so with an external cost. The cost occurs because households whose purpose for purchasing an additional vehicle is not to cheat the restriction are given the same …

Using Survey Data To Determine A Numeric Criterion For Nutrient Pollution, Paul Mark Jakus, Nanette Nelson, Jeffrey Ostermiller

Applied Economics Faculty Publications

We present a scientific replication of a benthic algae nuisance threshold study originally conducted in Montana, but we do so using a different sampling methodology in a different state. Respondents are asked to rate eight photographs that depict varying algae conditions. Our initial results show that Utah resident preferences for benthic algae levels are quite similar to those of Montana residents, thus replicating the Montana study. For the full Utah sample, though, Cronbach's α indicated poor internal consistency in rating the photographs, so a “monotonicity rule” was used to identify respondents providing monotonic preferences with respect to chlorophyll a densities. …

Sequestration And The Engagement Of Developing Economies In A Global Carbon Market, Reza Oladi, Arthur J. Caplan, John Gilbert

Applied Economics Faculty Publications

We develop a differential game within a general equilibrium framework of carbon sequestration with and without international trade. We characterize the game's equilibrium and demonstrate how a global carbon permit market can be structured to induce the participation of developing countries through the harnessing of their potential to sequester carbon. We show that a permit market with carbon sequestration is mutually welfare improving for developed and developing nations, and that international trade in finished goods and carbon permits lowers the stock of global pollution.

Regulation And Energy Poverty In The United States, Michael C. Jensen

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Energy poverty is a topic often neglected in the discussion about global climate change. Apocalyptic prophecies about the negative future effects of climate change ignore the suffering of people around the globe whose lives could be drastically improved with access to reliable sources of energy. Though energy poverty from a global perspective is much more serious than energy poverty from a domestic perspective, high home energy bills are a serious cause for concern for many Americans.

This research examines the relationship between regulation, the prices of electricity and natural gas, and the household energy burden, which is the ratio of …

Range-Based Volatility, Expected Stock Returns, And The Low Volatility Anomaly, Benjamin M. Blau, Ryan J. Whitby

Economics and Finance Faculty Publications

One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility), which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models …

Business Development And Entrepreneurship On The Navajo Reservation, Sierra Hoffer

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

In this paper, I explore the underdevelopment of the business sector on the Navajo reservation. I investigate why the Navajo reservation continues to be economically depressed and find that institutions unique to the reservation create barriers that disincentivize formal business development. I first conducted a literature review on general barriers to entrepreneurship. Second, I reviewed the institutional analysis of the Navajo reservation to understand how institutions affect potential entrepreneurs. Next, I summarized a three-phased entrepreneurship training program on the reservation. Finally, I assessed the results of the program and how it was effected by barriers to business development.

I conclude …

Quantitative Easing: Money Supply And The Commodity Prices Of Oil, Gold, And Wheat, Aaron Kasteler

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The recent financial crisis has raised awareness among the public regarding the role the Federal Reserve has in the broader economy, primarily as it pertains to overall price levels, and especially to commodities. Has the implementation of quantitative easing had an effect on underlying commodity prices and, if so, to what degree? Specifically, has the rise in the money supply created a subsequent rise in prices that are transferred onto the end consumer? This paper surveys the recent empirical evidence of the policy of quantitative easing as it relates to the money supply and commodity prices. It then uses this …

The Simple Economics Of Conservation Clubs, Arthur J. Caplan

Applied Economics Faculty Publications

This paper examines how a regulatory authority might ideally promote the formation of “conservation clubs” among households in order to initiate and empower voluntary household-level water and energy conservation efforts. We characterize a socially optimal conservation benchmark and derive the conditions necessary for a club to effectively attain this benchmark on behalf of the wider community. Both theoretical and numerical analyses are used to demonstrate ways in which households choose to become club members and are subsequently empowered to undertake conservation efforts. The avenues through which club membership might empower households include (1) information provision/education that is assumed to alter …

Essays On The Economics Of Energy And Transportation, Ryan N. Barnes

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The Washington State Department of Transportation (WSDOT) is responsible for planning, operating, and maintaining a highway network consisting of over 18,500 lane-miles of highway. In recent years the growing uncertainty about oil prices and availability has made long-range transportation planning even more challenging. Rather than relying on trend extrapolation, this study uses market mechanisms to shed light on key long-range transportation planning assumptions. In particular, this study was conducted to help WSDOT assess the likelihood that natural gas will substitute for petroleum fuels and estimate the impacts that changes in fuel prices will have on natural gas vehicle demand, fuel …

How High School Records And Act Scores Predict College Graduation, Lianqun Sun

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The primary purpose of this study is to assess the degree to which ACT scores and high school records predict success in college. I used large public university admission and graduation panel data in order to address the following questions: (1) Are high school records (class rank, high school grade point average (GPA), and Advanced Placement (AP) test credits) better predictors of college success than ACT scores, and which is the best predictor among high school records and ACT scores? (2) Is there any heterogeneity in these effects across race, sex and residency (state or non-state students)?

By answering these …

A Tournament Approach To Price Discovery In The Us Cattle Market, Jeffrey Wright

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Cattle price discovery is a process of determining the price in the market through the interactions of cattle buyers (packers) and sellers (ranchers). Locating the price discovery center or market, and estimating price interactions among the regional fed cattle markets and also among feeder cattle markets can help define a relevant fed cattle procurement market. This research identifies that the U.S. cattle markets is discovered in the futures markets, feeder cattle futures and fed futures.

The Impact Of Grade Ceilings On Student Grades And Course Evaluations: Evidence From A Policy Change, Devon Haskell Gorry

Economics and Finance Faculty Publications

This paper analyzes the effects of a grade ceiling policy on grade distributions and course evaluations. Results show that the effects vary based upon the level of the grade ceiling. A ceiling set at 2.8 decreased overall grade point average (GPA) by reducing the number of As and Bs and increasing the number of lower grades given. This low ceiling also increased the number of withdrawals and significantly lowered course evaluations. A ceiling set at 3.2 decreased overall GPA by reducing the number of As and increasing the number of Bs given, but the effects on course evaluations were smaller …

The Influence Of Height On Academic Outcomes, Devon Haskell Gorry

Economics and Finance Faculty Publications

This paper examines whether the height premium for academic outcomes is driven by unequal opportunities for tall individuals. Using data from the National Longitudinal Survey of Adolescent Health, this paper shows that taller individuals typically earn higher grades and attain more schooling, but the associations are not uniform across school size. Height is only associated with better outcomes for students attending large schools and these improvements are concentrated among males. Data suggest that height contributes more to sports participation and school satisfaction in large schools where resources are more scarce. Thus, differential opportunities or treatment across height in large schools …

Identifying Multiple Predictors Of Physical Rehabilitation Outcomes, Jacklyn M. Sullivan, Elizabeth B. Fauth, Sydney Y. Schaeffer

Research on Capitol Hill

Previous studies have suggested that disability in activities of daily living (ADLs) is an outcome of cognitive impairment, physical limitations, psychosocial factors, and environmental constraints. We hypothesis that cognitive abilities and psychosocial factors measured at admission can be used to predict a patients physical therapy progression in a transitional care facility. Environmental conditions were held constant for all patients and physical limitations were not used as a predictor of therapy progression, as the test for therapy progression is based on physical ability. In a sample of adults (n=93) aged 38-98 receiving physical rehabilitation treatment, we collected Minimum Data Set (MDS) …

Analysis Of The Electric Vehicles Adoption Over The United States, Ali Soltani-Sobh, Kevin Heaslip, Aleksandar Stevanovic, Ryan Bosworth, Danilo Radiviojevic

Applied Economics Faculty Publications

Increasing the use of electric vehicles (EVs) has been suggested as a possible method to decrease fuel consumption and greenhouse gas (GHG) emissions in an effort to mitigate the causes of climate change. In this study, the relationship between the market share of electric vehicles and the presence of government incentives, and other influential socio-economic factors were examined. The methodology of this study is based on a cross-sectional/time-series (panel) analysis. The developed model is an aggregated binomial logit share model that estimates the modal split between EV and conventional vehicles for different U.S. states from 2003 to 2011. The results …

Uncertainty And The Voluntary Provision Of A Pure Public Good In A Two-Moment Decision Model, Arthur J. Caplan

Applied Economics Faculty Publications

In this paper, we explore the potential benefits of uncertainty that may arise in a two-moment model of the voluntary provision of a pure public good. We find that an increase in a given contributor i’s risk associated with the aggregate contribution level of the other contributors (i.e., an increase in social uncertainty) induces that contributor to increase his own contribution level if and only if the uncertainty's incremental effect on the expected value of his net marginal utility is negative. Contributor i’s welfare likewise increases when a closely related condition is met, namely that the uncertainty's marginal …

The Capm Is Not Dead, Muhammad Ahmed Saleem Baig

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The Capital Asset Pricing Model (CAPM) is among the earliest and most widely used security valuation models. Since its inception, CAPM has been criticized more than it has been appreciated. Although, it has been criticized both empirically and theoretically, it is still one of the most extensively used methods for the calculation of equity betas and returns throughout the globe. Among the most significant implications of the model is that the expected stock returns are determined by their corresponding level of systematic risk and not the idiosyncratic risk. According to much of the recent literature it is referred to as …

Reanalyzing The Political Stability Of Britain's Democratization, Nathan R. Burton

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

A recent article in Journal of Economic History by Dasgupta and Ziblatt uses bond yields to analyze the political risk of the 19th century democratization legislation of Britain known as the Reform Acts. Dasgupta and Ziblatt find that the volatility of yields is relatively high during periods of legislation, and model the yields via GAM method, concluding that the political risk associated with the Reform Acts was high. I reproduce the study and comparing those times of 'high' volatility to all periods and find nothing to compare high-volatility periods to, suggesting that it is inconclusive whether the Reform Acts were …

Microstructure Noise: The Use Of Two Scales Realized Volatility For The Noisy High-Frequency Data And Its Implications For Market Efficiency And Financial Forecasting, Aristides Romero

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

As a basic principle in statistics, a larger sample size is preferred whenever possible. Nonetheless, in the financial world, especially equities and currencies trading, including all available data poses great challenges due to the noise present in the volatility estimation. In his paper I examine the Two Time Scales Realized Volatility estimator by Zhang, Mykland, and Ait-Sahalia (2005b) and I find that it not only provides a more efficient estimator than a basic estimator of the integrated volatility of returns, but it also consistently estimates the microstructure noise present in the latent efficient return process. I find that by using …

A Monte Carlo Study On The Persistence Of Variance With Garch, Aristides Romero Moreno

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The GARCH model is widely used to forecast volatility for economic and financial Data. There are, however, several shortcomings of using the simple GARCH estimator alone for forecasting volatility. The major issue with the use of the default GARCH model is the persistence of variance that evolves through time and the simple GARCH model fails to address. This paper looks at the GARCH(1,1) model and consistent with Lamoureux and Lastrapes (1990), finds that it overstates the persistence of variance due to model misspecification, specifically the lack of structural shifts.

Does The Market Matter For More Than Investment?, Yiwei Zhang

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Does the market matter for more than investment? by Jason Smith examines how themultiple effects of the market (through stock prices) can affect a corporation. The mainfindings are that low stock prices precede lower costs and lower investments. The maininnovation of this work is showing that the market can matter for more than a simpleinvestment. Low stock prices imply that the market may disagree with investment and leadthe manager to reduce costs. This result does not appear to be driven by financial constraints.