Economics Commons^™

Gambling On Genes: Ambiguity Aversion Explains Investment In Sisters' Children, Brishti Guha

Research Collection School Of Economics

Many men invest in their sisters’ children instead of their wives’. Existing theories addressing such behavior depend on the level of paternity probability in such men’s societies being implausibly low. I link this anthropologically observed investment behavior with the experimentally observed phenomenon that some individuals are ambiguity averse. Arguing that men’s decisions are made under ambiguity, I show that an increase in ambiguity aversion results in investment in sisters’, rather than wives’, children. I show that this can happen even under risk neutrality. I also consider the special cases of a SEU maximizer and of extreme ambiguity aversion in the …

The Educated Middle Class, Their Economics Prospects, And The Arab Spring, Davin Chor, Filipe R. Campante

Research Collection School Of Economics

The recent uprisings in the Arab World carry a broader lesson, highlighting the importance of sustaining an economy that provides sufficient job opportunities for an increasingly educated and skilled middle class.

Central Place Theory And City Size Distribution, Wen-Tai Hsu

Research Collection School Of Economics

This paper proposes a theory of city size distribution via a hierarchy approach rather than the popular random growth process. It does so by formalizing central place theory using an equilibrium entry model and specifying the conditions under which city size distribution follows a power law. Central place theory describes the way in which a hierarchical city system with different layers of cities serving differently sized market areas is formed from a uniformly populated space. The force driving the city size differences in this model is the heterogeneity in economies of scale across goods. The city size distribution under a …

Economy Can Be Game Changer For The Region, Kim Song Tan, Sim Yee Lau

Research Collection School Of Economics

this article they explore reform of the banking sector in Myanmar.

Empirical Analysis On The Effect Of The Forward Freight Agreement In Dry Bulk Based On Route C3 And C5, Gang Li

World Maritime University Dissertations

No abstract provided.

The Economic Appraisal And Prospect Study On Lng-Powered Vessels, Zhiyuan Luo

World Maritime University Dissertations

No abstract provided.

To Discuss The Future Development For Shanghai Xuanrun In Co.,Ltd Chemical Transformation, Yuqing Mao

World Maritime University Dissertations

No abstract provided.

Research On Risk Management Of Ship Financial Leasing In Cimc Financial Leasing Company, Zhangcheng Shi

World Maritime University Dissertations

No abstract provided.

Research On The Fluctuation Ship Price In New-Building Market, Tianhang Xiao

World Maritime University Dissertations

No abstract provided.

Financial Feasibility Analysis Of Ship Sale-Leaseback Base On Excel Model, Xi Lin

World Maritime University Dissertations

No abstract provided.

Remembering Minnesota’S Mr. Economics, Walter Heller, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

Reinventing The 21st Century Public Health Workforce: Innovation, Evaluation & Practice-Based Research, Glen P. Mays

Health Management and Policy Presentations

Compelling opportunities exist for incorporating practice-based research to into the design, implementation, and evaluation of public health workforce training and development programs. Public Health Training Centers (PHTCs) can collaborate with practice-based research networks (PBRNs) to discover and disseminate evidence-based strategies for workforce development.

Summary Report: The State Of Black Entrepreneurship In The United States: Education, Labor Activity, And Access To Capital, Rebecca Tekula, Mary Tracy

Wilson Center for Social Entrepreneurship

No abstract provided.

Lessons Learned From Citizen Science In The Classroom. A Response To "The Future Of Citizen Science.", Steven A. Gray, Kristina Nicosia, Rebecca C. Jordan

Democracy & Education

Mueller, Tippins, and Bryan’s contrast of the current limitations of science education with the potential virtues of citizen science provides an important theoretical perspective about the future of democratized science and K–12 education. However, the authors fail to adequately address the existing barriers and constraints to moving community-based science into the classroom. We contend that for these science partnerships to be successful, teachers, researchers, and other program designers must reexamine questions about traditional science education and citizen-science programs and attend to certain dimensions, including: framing these projects around the nature of science, creating a dialog with experts and allowing access …

Estimating Technical Efficiency In Micro Panels, Qu Feng, William C. Horrace

Economics - All Scholarship

Bootstrap confidence intervals on fixed-effects efficiency estimates in micro panels exhibit low coverage probabilities. We propose an alternative efficiency measure involving the mean of the firm effects. With the same estimated efficiency ranks as the traditional measure, its corresponding bootstrap confidence intervals have better coverage probabilities.

Paul Ryan’S Views Of Government Seem More Influenced By Milton Friedman Than Ayn Rand, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

Valuing Improvements To Coastal Waters Using Choice Experiments: An Application To Revisions Of The Eu Bathing Waters Directive, Stephen Hynes, Dugald Tinch, Nick Hanley

Working Papers

Planned changes to the European Union’s Bathing Waters Directive (2006/7 EC) will force member states to produce improvements in a number of parameters of coastal water quality. This study uses the choice experiment method to estimate the economic benefits attached to such improvements, based on a sample of recreationalists on beaches in Ireland. The analysis indicates that improvements in all of the bathing water related attributes studied result in positive willingness to pay, and also show evidence of scope effects. Using random parameters and latent class modelling techniques, potential heterogeneity in preferences is then investigated and shown to be present …

Ocean Governance: The New Zealand Dimension Full Report, Michael Vincent Mcginnis

Working Papers

The primary goal of this report is to provide interested members of the public and policymakers with a general overview and a description of the types of principles, planning tools, and policy instruments that can be used to strengthen and improve marine governance in New Zealand. As extractive uses (hydrocarbons and minerals, in particular) ramp up and others are explored and brought on line in the marine areas of New Zealand, the need will increase for a more integrative, ecosystem-based approach to marine governance.

This study is based on the following types of analysis:

• a review of the literature …

The Role Of Inflation In Soviet History: Prices, Living Standards, And Political Change, Steven M. Efremov

Electronic Theses and Dissertations

This thesis discusses the interaction between inflation, living standards, and political change in Soviet/Russian history. It traces the establishment and evolution of the Soviet monetary system, inflationary episodes, and their consequences. The goal of this study is to show how inflation affects the lives of ordinary people and how it has contributed to larger changes in Soviet history. Sources include economic statistics and analysis from articles and monographs, as well as first-hand accounts from interviews and newspapers. The results show that inflation was a factor in both the rise and the fall of the Soviet Union. Russia's first hyperinflation (1917-1923) …

The Child And Adult Care Food Program And Food Insecurity, Colleen Heflin, Irma Arteaga, Sara Gable

University of Kentucky Center for Poverty Research Discussion Paper Series

High rates of food insecurity are a significant problem in the United States. It is currently estimated that more than 48.8 million people live in food insecure households, meaning that at some time during the previous year, they were unable to acquire or were uncertain of having enough food to meet basic needs due to inadequate household resources (Coleman-Jensen, Nord, Andrews, & Carlson, 2011). Rates of food insecurity are substantially higher among those in households with incomes below the poverty line (40.2%) and in households with children headed by a single woman (35.1%). Levels of food insecurity increased across U.S. …

Essays In Inflation And Monetary Dynamics In Developing Countries, Simon K. Harvey

College of Business: Dissertations, Theses, and Student Research

This dissertation is consists of three essays. In the first essay, I analyze how the information contained in the disaggregate components of aggregate inflation helps improve the forecasts of the aggregate series using inflation data from Ghana. Direct univariate forecasting of the aggregate inflation data by an autoregressive (AR) model is used as the benchmark with which all autoregressive (AR), moving average (MA) and vector autoregressive (VAR) models of the disaggregates are compared. The results show that directly forecasting the aggregate series from the benchmark model is generally superior to aggregating forecasts from the disaggregate components. Additionally, including information from …

Does The Equity Market Affect Economic Growth?, Kwame D. Fynn

The Macalester Review

This paper examines the impact of the stock market primarily on economic growth using panel data from 1990-2010. I apply Generalized Least Squares techniques for fixed effects with the exclusion of the subgroup 2005-2010 which uses random effects. The effect of the stock market on growth is based on country-specific effects and varies in different time periods.

Ethnic Diversity And Poverty: A Dynamic Panel Study Of Illinois Counties, Ambuj Neupane

Master's Theses - Economics

Ethnic diversity’s effects on factors of economic development have been studied widely in recent years. I expand upon this research by directly studying ethnic diversity’s effects on the poverty rates within the counties of Illinois, using a dynamic panel technique devised by Blundell and Bond (1998). My results are consistent with the noted effects in previous literature, and provide extra weight towards measures of fractionalization and polarization. I conclude with policy implications and limitations which require future research.

Childhood Income Volatility And Adult Outcomes, Bradley Hardy

University of Kentucky Center for Poverty Research Discussion Paper Series

Using data linked across generations in the Panel Study of Income Dynamics, I estimate the relationship between exposure to volatile income during childhood and a set of socioeconomic outcomes in adulthood. The empirical framework is an augmented intergenerational income mobility model that includes controls for income volatility. I measure income volatility at the family level in two ways. First, instability as measured by squared deviations around a family-specific mean, and then as percent changes of 25 percent or more. Volatility enters the model both separately and interacted with income level. I find that family income instability during childhood has a …

Rhode Island Current Conditions Index — August 2012, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Decomposing Trends In Income Volatility: The ‘Wild Ride’ At The Top And Bottom, Bradley Hardy, James P. Ziliak

University of Kentucky Center for Poverty Research Discussion Paper Series

We provide a detailed accounting of the trend increase in family income volatility in recent decades by quantifying the contributions of household head earnings, spouse earnings, non-transfer non-labor income, transfer income, and tax payments (inclusive of the refundable Earned Income Tax Credit), along with covariances among the income components. Using twoyear matched panels in the Current Population Survey from 1980 to 2009, we find that the volatility of family income, as measured by the variance of the arc percent change, doubled over the past three decades. The increase in volatility was most pronounced among the top 1% of the income …

Return, Purchase, Or Skip? Outcome, Duration, And Consumer Behavior In The Rent-To-Own Market, Michael H. Anderson, Sanjiv Jaggia

Economics

Rent-to-own (RTO) is attractive to financially distressed consumers. It allows immediate access to merchandise and an opportunity for eventually acquisition. Yet goods can be returned at any point without penalty or other adverse consequences. We use a competing risk methodology that accounts for unobserved consumer heterogeneity to study how contracts conclude, estimating the probabilities of exit— via return, purchase, or skip—and the associated durations. The estimated outcome probabilities highlight the use of the embedded return option by RTO consumers and the trade-offs and cross-subsidization implicit in the RTO contractual arrangement.We offer rational and behavioral explanations of consumer behavior in the …

Obesity And Hyperbolic Discounting: An Experimental Analysis, Timothy J. Richards, Stephen F. Hamilton

Economics

Models of rational addiction suggest that obesity is consistent with time-consistent preferences. Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, conduct an experiment to test whether individual discount schedules are time-consistent and whether discount rates are higher for subjects who exhibit patterns of risky behavior. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of …

Stock Market Correlations And Cross-Equity Holdings, Radoslav Iliev

HIM 1990-2015

The objective of this research is to find how world stock markets correlate with each other and what causes that correlation. Multiple dependent variables that may have a high impact on correlations are tested, with a particular focus on cross-equity holdings. All the variables but one tested significant at the accepted 90% confidence level. The model showed a negative relationship between equity holdings and stock market correlation. The results may inspire further research with more in depth analysis of international equity holdings and investor behavior in world stock markets.

Policy Challenges In A Dual Exchange Rate Regime, Sven W. Arndt

CMC Faculty Publications and Research

It is known that the effectiveness of macro policies depends on the exchange-rate regime. Pertinent models have typically considered either fixed or floating rates rather than mixed regimes. In recent years, however, the dollar has floated against most currencies, while being fixed against the yuan. This paper argues that a flex-price, dual-rate model consisting of the U.S., China and the Eurozone, combined with distinct adjustment patterns in tradables and non-tradables sectors and a tendency for policy makers to treat inflation in housing as pure asset inflation, provides a plausible explanation of the great moderation and its aftermath.