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Honors Theses

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Full-Text Articles in Economics

The Supply Of Volunteer Labor: Focusing On Board Members, John Larkin Jan 2016

The Supply Of Volunteer Labor: Focusing On Board Members, John Larkin

Honors Theses

Understanding the types of people who volunteer is an important part of understanding why people volunteer and the indications of what could make others volunteer. First, understanding the types of volunteers, specifically board members, provides the needed background and overall understanding of volunteering. This information could lead to a stronger idea of how to recruit volunteers. I will also update R. B. Freeman's results which used 1989 CPS data compared to 2014 CPS data. I find that the 2014 CPS provides similar results compared to Freeman's. We both found individuals are more likely to volunteer if their characteristics are associated …


Young And Unemployed: A Multivariable Analysis Of Youth Unemployment In Jordan, Morgan E. Mabry Dec 2015

Young And Unemployed: A Multivariable Analysis Of Youth Unemployment In Jordan, Morgan E. Mabry

Honors Theses

The level of youth unemployment in the Middle East is higher than any other region in the world. The detrimental effects of early unemployment can be broad and long lasting. This paper discusses some of the factors of youth unemployment in the Middle East, such as poor education systems and underdeveloped labor markets; and the social effects such as delayed marriages and political unrest. It then goes on to analyze the School-to-Work Transition Survey (SWTS) to understand the impact of age, sex, individual education, and parental education on the transition from school to work. The results indicated that sex and …


Factors Affecting Child Mortality, Lisa Wheatley May 2015

Factors Affecting Child Mortality, Lisa Wheatley

Honors Theses

This study examines the factors that contribute to the rate of child mortality within a country. Through regression analysis, this model attempts to explain the rate of child mortality for a country as a function of factors including the adult female literacy rate, fertility rates, adult female labor force participation, rate of immunization for tuberculosis, access to safe water, income per capita, and prevalence of human immunodeficiency virus. This paper surveys a range of low-income countries from different regions including Sub-Saharan Africa, Middle East and North Africa, East Asia and the Pacific, Europe and Central Asia, South Asia, and Latin …


On The Shoulders Of Giants: Happiness And The Good Economy In Catholic Social Teaching, Erin C. Wingerter May 2015

On The Shoulders Of Giants: Happiness And The Good Economy In Catholic Social Teaching, Erin C. Wingerter

Honors Theses

The economic discipline, in studying humans, relies on economic philosophers’ theories and understanding of the human person. One of Adam Smith’s most basic tenants was that man is self-interested. This thesis explores the profound implications this has had on those who study economics and what research in behavioral economics implies about its effect on life satisfaction. Catholic Social Teaching is the Roman Catholic Church’s collection of criticisms for practicing the neo-scholastic virtue ethic in social life. If self-interest is emphasized above man’s social nature, which was Smith’s second tenant, economics ignores a non-trivial portion of man’s motivation. Because irrational behaviors …


A Cost-Benefit Analysis Of Amazon Prime Air, Adrienne Welch May 2015

A Cost-Benefit Analysis Of Amazon Prime Air, Adrienne Welch

Honors Theses

This paper analyzes the costs and benefits of the newly proposed Amazon Prime Air delivery system that uses drone technology to deliver packages to customers’ doorsteps. The paper sets forth a benefit-cost analytical framework to examine the technology for the benefits of labor-saving technology, faster delivery, and the advantage of being first versus the costs of operating the drone system. This analysis is conducted by modeling the Prime Air system for Chattanooga, TN. The model addresses FAA regulations, drone design, logistics, and related factors to predict how Amazon might set up and operate the drone system. Amazon’s goal is to …


Economic Impacts Of The Fifa World Cup In Developing Countries, Mirele Matsuoka De Aragao Apr 2015

Economic Impacts Of The Fifa World Cup In Developing Countries, Mirele Matsuoka De Aragao

Honors Theses

Hosting mega events, which have traditionally been a privilege of developed nations, became an attainable goal for developing countries starting in 2008. This might seem to be a positive step, but there are speculations concerning the real benefits and expenses those games generate. The aim of this thesis is to investigate if it is recommendable for a developing country to host a World Cup. This question is answered through an analysis of the two previous World Cups in South Africa (2010) and Brazil (2014). The research involves comparing before and after data for both countries on government expenditure, labor market, …


Innovation And Productivity: Evidence From China, Jingying Xu Jan 2015

Innovation And Productivity: Evidence From China, Jingying Xu

Honors Theses

This paper investigates a lesser-known effect of innovation on the productivity of manufacturing firms in China using data that cover more than 330,000 firms across 40 sectors from 1998 to 2008. Innovation plays a key role in the productivity of firms and it matters for all types of firms, new as well as established. The ratio of new product output to the firm’s total outputs is used to measure innovation ability in this paper. A higher ratio is expected to have a positive impact on a firm’s productivity since new products are likely to be more differentiated than old products …


Market Microstructure And Abnormal Returns: An Analysis Of Nyse And Sgx Securities, Alex Ng Jan 2015

Market Microstructure And Abnormal Returns: An Analysis Of Nyse And Sgx Securities, Alex Ng

Honors Theses

This paper investigates the differences in the abnormal returns of securities in the context of the earnings announcement in both the United States (NYSE) and Singapore (SGX) markets[1]. Despite the similarities between both exchanges, there exist two key market microstructure differences: the free float factor (i.e. the portion of listed share capital that is freely traded on the market) and lot size (i.e. the minimum number of shares that an investor can trade in a single transaction). While the difference in the lot size can be attributed to the intrinsic institutional differences between both exchanges, the involvement of …


Institutions, Distance, And Foreign Direct Investment, Charles Coffman Jan 2015

Institutions, Distance, And Foreign Direct Investment, Charles Coffman

Honors Theses

In this paper, I examine institutional differences between countries and the effect that those differences have on FDI flows using data from 193 countries and ten institutional indicators from the Index of Economic Freedom. I find a statistically significant result for five institutional distance variables. My results also support existing literature that claims that strong institutions increase FDI flows. I found that strong institutions are negatively associated with FDI inflows to low income countries, with the exception of trade and natural resources, suggesting that firms are investing in low income countries for natural resources and cheap production that can be …


Investigating The Endogeneity Of Risk Attitudes: Experimental Evidence Involving Cooperation And Competition, Erik Solli Jan 2015

Investigating The Endogeneity Of Risk Attitudes: Experimental Evidence Involving Cooperation And Competition, Erik Solli

Honors Theses

Individual decision making is at the core of microeconomics. Rarely, however, are decisions made in environments without some element of uncertainty or even in isolation. While people may differ in their inherent willingness to take on risk, their preferences could change when new information is learned or a new relationship is fostered. I designed an experiment in which participants were asked to make investment decisions involving different levels of risk. The participants completed task between these gambles which allowed me to introduce competitive and collaborative relationships. I was interested in: (1) understanding the factors that are important to explaining risk …


Reputation Effects And Hedonic Pricing At The Portland Fish Exchange, Kush Jadeja Jan 2015

Reputation Effects And Hedonic Pricing At The Portland Fish Exchange, Kush Jadeja

Honors Theses

The Portland Fish Exchange, founded in 1986, is America’s first all-display fresh seafood auction. The ability to observe each lot of fish before it is sold enables buyers to offer prices that reflect the perceived quality of the fish they bid on. As a result, the price per pound paid for lots of identical fish can vary can vary significantly on any given day, implying that some boats or sellers may benefit from a “reputation” effect for high quality fish. In this study I explore the factors that explain the price differentials paid for a given type of fish using …


The Taylor Rule With Real-Time Data And An Analysis Of Its Impact On Historical Policy Analysis, Morgan Mckee Jan 2015

The Taylor Rule With Real-Time Data And An Analysis Of Its Impact On Historical Policy Analysis, Morgan Mckee

Honors Theses

The Federal Reserve system (the Fed) is the United States monetary policy authority and is mandated by Congress to pursue two goals: 1) maximum sustainable output and employment and 2) stable prices. Among the actions the Fed can take to achieve these goals is the ability to set the target federal funds rate. Simple policy rules that set the level of funds rate in response to changes in economic variables have gained attention as a means to more effective monetary policy. One of the most researched and cited rules is that proposed by economist John Taylor in 1993. Taylor’s rule …


The Transatlantic Trade And Investment Partnership: Legislative Action And The Future Of Transatlantic Trade, Zachery Newton Jan 2015

The Transatlantic Trade And Investment Partnership: Legislative Action And The Future Of Transatlantic Trade, Zachery Newton

Honors Theses

The Transatlantic Trade and Investment Partnership (TTIP) is a controversial free trade agreement between the United States and the European Union, and is currently in negotiations as of the publication of this thesis. The TTIP seeks to remove both tariffs and non-tariff barriers to trade (NTBs) between the EU and the US, such as environmental and food safety regulatory divergences. This paper seeks to predict the outcome of negotiations, while considering the various cultural, economic, and political factors that play into the potential success or failure of the TTIP. To accomplish this, the paper takes a broad look at the …


Say What You Want, Get What You Need: The Effects Of Media Freedom On Fdi Inflows, Hjalmar Breit Jan 2015

Say What You Want, Get What You Need: The Effects Of Media Freedom On Fdi Inflows, Hjalmar Breit

Honors Theses

As the discussion concerning economic growth has become increasingly important, Foreign Direct Investment (FDI) and its determinants have become a hot topic. This thesis uses 2SLS to investigate the relationship between Media Freedom, Socio-political Stability, and FDI levels, using Corruption as a robustness check. It finds that there is a positive correlation for FDI levels for both Media Freedom and Corruption, providing a theoretical framework within which they operate.


The Doctor/Patient Relationship In End-Of-Life Care: A Game Theoretic Model, Stephan A. Castellanos Jan 2015

The Doctor/Patient Relationship In End-Of-Life Care: A Game Theoretic Model, Stephan A. Castellanos

Honors Theses

End-of-life care is a sensitive subject because it deals with life and death, as well as dealing with the nature of that death. In its most basic form, end-of-life care can be divided into two distinct pathways: aggressive treatment and methods, or palliative treatment and care. This paper explores the history surrounding these two routes and the implications that surround them. A review of the literature reveals that in many cases palliative care can increase in quality-of-life. An important part of the decision between aggressive and palliative care are the patient's and the doctor's feelings towards certain aspects of end-of-life …


The Impact Of Hosting The Summer Olympic Games On Economic Growth In Developing Countries: A Case Study Of The 2008 Beijing Games, K. G. Scott Jan 2015

The Impact Of Hosting The Summer Olympic Games On Economic Growth In Developing Countries: A Case Study Of The 2008 Beijing Games, K. G. Scott

Honors Theses

This paper examines the economic growth effects of hosting the 2008 Beijing Olympic Games within the municipality of Beijing and throughout China. To test for the significance of such growth effects, a two-stage least squares regression model with instrumental variables in employed. The regression results provide no evidence that hosting the Olympic Games had a positive impact on economic growth in China or within Beijing, but they do offer evidence that the games resulted in a short-term boost in gross regional product levels throughout the country. Such results suggest that the economic benefits of hosting the games in developing countries …


Human Capital In Mexico: Estimating Externalities With The Constant-Composition Approach, Lorin D. Dawson Jan 2015

Human Capital In Mexico: Estimating Externalities With The Constant-Composition Approach, Lorin D. Dawson

Honors Theses

Understanding a country's human capital externalities is an important part of understanding economic phenomena and implementing national economic policy. However, externalities are difficult to estimate. Measurement error can cause a misinterpretation of economic models and result in misguided policies. The two methods of calculating human capital externalities are the Mincer Equation and Constant-Composition approach. The author estimates human capital externalities in Mexico with the Constant-Composition approach because the Mincer approach often finds externalities where none are present. Using the Constant-Composition method, the author finds no indication of human capital externalities in Mexico.


The Ties That Bind: Candidate Appearance And Party Heuristics, Brandon D. Reilly May 2014

The Ties That Bind: Candidate Appearance And Party Heuristics, Brandon D. Reilly

Honors Theses

Studies on voting behavior have implications for academia and for real world applications. One of the main topics covered in studies of voting behavior is the use of heuristics to make voting decisions. A heuristic is a mental shortcut used to make a decision, and often times does not account for any careful consideration. According to the literature, an individual's party identification is the most commonly used heuristic in voting behavior. A voter will align with a political party based on preferences in policy (or perceived preferences) and vote for any candidate who bears the party's designation. There is also …


An Economic Impact Analysis Of A Youth Softball World Series, Robert Tanner Jones May 2014

An Economic Impact Analysis Of A Youth Softball World Series, Robert Tanner Jones

Honors Theses

Sporting events can have a large impact on an economy. From the Olympics to the Super Bowl to the World Cup, these events bring in millions of dollars of new revenue to a region. Extensive research has been conducted on the economic impact of these mega-events. However, smaller sporting events, such as a fishing tournament, youth sports tournament, or 5K race, can also boost local economies and influence future tourism choices. However, limited research has been conducted to understand the economic impact of these events, despite the significant resources needed by communities to host these smaller events. This economic impact …


The Role Of Underutilized Fish In New England's Seafood System, Taylor Witkin Jan 2014

The Role Of Underutilized Fish In New England's Seafood System, Taylor Witkin

Honors Theses

The global fisheries crisis has led to an increasing recognition for the need to relieve pressure on overfished, popular food fish stocks. Opportunities exist to shift consumer demand toward more sustainable choices, including fish that may be locally abundant. Attempts have been made to market underused fish (sometimes termed “trash fish”) that represent more sustainable alternatives; however, it is unclear whether consumers will choose to purchase these more sustainable options, particularly if underused fish are also unfamiliar. Chapter 1 reviews existing research and current issues surrounding sustainable seafood and the recent shift toward local, abundant, undervalued species in New England’s …


The Economic Impact Of Shale Gas Development: A Natural Experiment Along The New York And Pennsylvania Border, Brendan Cosgrove Jan 2014

The Economic Impact Of Shale Gas Development: A Natural Experiment Along The New York And Pennsylvania Border, Brendan Cosgrove

Honors Theses

In the United States, the rapid increase in shale gas production has recently stimulated local economies. This paper investigates the regional economic impact of shale gas development. The border of New York and Pennsylvania provides a natural experiment for its economic impact because of the moratorium on fracking in NY and the supportive fracking regulations in PA. Using BLS data from 2001-2013, results show that shale gas development has a statistically significant impact at the industry level, but not across the entire economy. The findings contribute new evidence to the economic benefits and the boom-bust cycle of shale gas extraction.


The Effect Of Race In Primary And Secondary School Achievement : Evidence From Virginia, Khanh Doan Jan 2014

The Effect Of Race In Primary And Secondary School Achievement : Evidence From Virginia, Khanh Doan

Honors Theses

A large body of literature has studied the achievement gap between white and minority groups in the United States. This paper contributes to this discussion by conducting a cross-sectional study of Virginia using data for 2011-2012. I analyze the impact of race/ethnicity (White, Black, Hispanic) on school district pass rates conditional on income per capita, population density, and a cohort effect in each school district. I find that the magnitude of the gap is largest in 3rd grade and smallest in 5th grade. There are little differences between Black-White gaps and Hispanic-White gaps. The gaps are neither widening nor narrowing …


The Effect Of Race In Primary And Secondary School Achievement : Evidence From Virginia, Khanh (Miki) Doan Jan 2014

The Effect Of Race In Primary And Secondary School Achievement : Evidence From Virginia, Khanh (Miki) Doan

Honors Theses

A large body of literature has studied the achievement gap between white and minority groups in the United States. This paper contributes to this discussion by conducting a cross-sectional study of Virginia using data for 2011-2012. I analyze the impact of race/ethnicity (White, Black, Hispanic) on school district pass rates conditional on income per capita, population density, and a cohort effect in each school district. I find that the magnitude of the gap is largest in 3rd grade and smallest in 5th grade. There are little differences between Black-White gaps and Hispanic-White gaps. The gaps are neither widening nor narrowing …


The Cost-Of-Carry Model And Volatility : An Analysis Of Gold Futures Contracts Pricing, Edward M. Riley Iii Jan 2014

The Cost-Of-Carry Model And Volatility : An Analysis Of Gold Futures Contracts Pricing, Edward M. Riley Iii

Honors Theses

The theoretical price of gold futures relies on the term structure of interest rates, the days to settlement, and the spot price of gold. However, when comparing the theoretical gold futures price and the observed price in the market, there is often a difference. The difference implies that the theoretical pricing model is incomplete. Though limited in explaining much of what causes a difference between the actual and theoretical futures prices, factors such as rise in the credit spread of interest rates and changes in the price of commodities are statistically significant and positively correlated determinants of the difference between …


Macroeconomic Surprise, Forecast Uncertainty, And Stock Prices, Alphonce M. Mshomba Jan 2014

Macroeconomic Surprise, Forecast Uncertainty, And Stock Prices, Alphonce M. Mshomba

Honors Theses

This paper evaluates the effect of surprises in economic data on stock prices. “Surprises in economic data” refer to the difference between the forecast and initial release actual values relative to the sample forecast error. The analysis addresses three questions. Do surprises in economic data affect stock prices? If there is an effect, is the magnitude of that effect symmetrical for positive and negative surprises? If surprises affect stock prices, how does market forecast uncertainty affect the magnitude of the effect on stock prices?


Application Of Carhart Four-Factor Model To The Aaii-Generated Portfolios, Teo Lagvilava Jan 2014

Application Of Carhart Four-Factor Model To The Aaii-Generated Portfolios, Teo Lagvilava

Honors Theses

American Association of Individual Investors (AAII) provides stock screens that follow the investment strategies of some of the most well-known investors. This paper uses Carhart’s Four Factor Model and adjusts returns for transactions costs to see whether these portfolios generate abnormal returns. I find that number of portfolios with excess returns significantly decreases under the restrictions of the four factor model and transaction costs assumptions. In addition, I find that a momentum is a statistically significant factor in explaining the returns of these portfolios. The results of this study suggest that markets are inefficient in the weakest form.


The Effectiveness Of Basel Ii, Rachel Shaw Jan 2014

The Effectiveness Of Basel Ii, Rachel Shaw

Honors Theses

The New Capital Accord, Basel II, was published in 2004. It features updated capital requirements and new ways to measure bank risk; however, the validity of these new standards was called into question during the financial crisis that began in 2008. The measures that intend to stabilize our banking system did not appear sufficient. Doubt was cast upon capital requirements, and the advantages of another system, such as contingent liability, can be seen. This thesis aims to test the effectiveness of Basel II, specifically its capital requirements, in reducing bank risk. After running a fixed effects model, one can clearly …


The Eurozone: Effects On Spain After The Implementation Of The Euro, Caroline Mürer Rohde-Moe Jan 2014

The Eurozone: Effects On Spain After The Implementation Of The Euro, Caroline Mürer Rohde-Moe

Honors Theses

This thesis examines the current situation in the Eurozone and how the entry into the currency union has affected the member countries. I have especially focused on the consequences the implementation of the euro has had on Spain because of the deeper recession that this country has experienced compared to many of the other Eurozone countries. I wanted to figure out what has caused some nations to struggle at a different level than others. By comparing Spain to countries such as Germany, United Kingdom, and France I have tried to look into how much of the domestic problems seen in …


Observing Academic Performance Based On Increased Educational Spending: An Assessment Of The Fedex Center At The University Of Mississippi, Matthew Williams Jan 2014

Observing Academic Performance Based On Increased Educational Spending: An Assessment Of The Fedex Center At The University Of Mississippi, Matthew Williams

Honors Theses

In 2007, the FedEx Student-Athlete Academic Support Center, a renovation from the Starnes Center, was completed at the University of Mississippi to provide student- athletes a facility to improve academic performance in the classroom. FedEx donated $2.5 million to the project, covering half of the total expenditure. This private funding presents an opportunity to study how increased spending on education affected performance amongst student athletes in the classroom. Using semester-by-semester GPA of student-athletes and graduation rates from 2003 to 2009, it is possible to identify which students were exposed to the new facilities and thus, able to assess the effect …


Payday Lending In America: Profitability And Regulation In The Payday Lending Market, Orion Wilcox Jan 2014

Payday Lending In America: Profitability And Regulation In The Payday Lending Market, Orion Wilcox

Honors Theses

Payday lending is a highly contentious form of credit. Consumer advocates often argue for strict regulation or complete banning of the industry based on the idea that payday lending rates are usurious. Providers of payday loans argue that their product offers access to credit that would not be available otherwise. In order to reconcile this debate, I analyze financial data on the largest payday lender in the country Advance America. Furthermore, I examine the 2008 Arkansas payday lending law to analyze the impact of the ban on bounced check fees, overdraft charges, and Non-Sufficient Funds charges at state chartered Arkansas …