Economics Commons^™

2019-1 Trading Motives In Asset Markets, Zijian Wang

Department of Economics Research Reports

I study how trading motives in asset markets affect equilibrium outcomes and welfare. I focus on two types of trading motives – informational and allocational. I show that while a fully separating equilibrium is the unique equilibrium when trading motives are known, multiple equilibria exist when trading motives are unknown. Moreover, forcing traders to reveal their trading motives may harm welfare. I also use this model to study how an asset market may exit a fire sale equilibrium and how government programs may eliminate private information and improve agents’ welfare.

2019-2 Immigrants And Exports: Firm-Level Evidence From Canada, Miguel Cardoso, Ananth Ramanarayanan

Department of Economics Research Reports

No abstract provided.

2019-3 Discerning Solution Concepts, Nail Kashaev, Bruno Salcedo

Department of Economics Research Reports

No abstract provided.

2019-5 Revealed Statistical Consumer Theory, Roy Allen, Pawel Dziewulski, John Rehbeck

Department of Economics Research Reports

No abstract provided.

2019-4 Assessing Misspecification And Aggregation For Structured Preferences, Roy Allen, John Rehbeck

Department of Economics Research Reports

No abstract provided.

The Economic Value Of A Place-Based Resource For Regional Development, Aisling Conway Lenihan, Helen Mcguirk

Dept. of Management & Enterprise Publications

Regional economic development has long been acknowledged as an important objective of government policy. Natural resources are also recognised as drivers of economic development. However, the importance of place-based resources such as peripheral coastlines and Harbour areas are less understood. This research provides insights into an industry based on its region’s natural resource and the value it generates for sustainable economic development. Using the world’s second largest natural Harbour region, the current research measures the economic activities associated with the Marine Leisure Industry in Cork Harbour, and estimates the economic impact on the local economy. The research establishes a multiplier …

Spanish California Missions: An Economic Success, Lynne Doti

Economics Faculty Articles and Research

Starting in 1769, the Spanish established missions in Alta California. A small band of soldiers, Franciscan priests and volunteers walked from Baja California to San Francisco Bay through semi-arid, scarcely populated land stopping occasionally to establish a location for a religious community. Usually two priests, a few soldiers and a few Indians from Baja California settled at the spot. Their only resources for starting an economy were themselves, a few animals and a nearby source of water. They attracted the local Indians to join the community and perform the work necessary to create a strong economy. After only a few …

2019 State Of The Commonwealth Report, Vinod Agarwal, Barbara Blake, Ethan Crouson, Steve Daniel, Addie Gregory, Nikki Johnson, James V. Koch, Tim Komarek, Feng Lian, Sharon Lomax, Janet Molinaro, Bailey Park, Terry Park, Jay Walker, Hannah White

State of the Commonwealth Reports

This is Old Dominion University’s fifth annual State of the Commonwealth Report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, its president, John R. Broderick, the Board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

While the enthusiasm we have for our work remains high, it has been dampened by the recent passing of George Dragas, the individual most responsible for perceiving the need for an …

Part 4: Marijuana In Virginia, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Over 30 states permit the personal use of marijuana for medical purposes and more than 10 states have legalized the possession of small amounts for personal use. With increasing calls in Virginia for the decriminalization or legalization of small amounts of marijuana, we examine who uses the substance, who is being arrested for possession or use, and what the revenue impact might be if marijuana were legalized in the Commonwealth.

Part 3: The Virginia Retirement System: Assessing Its Challenges And Charting Its Future, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

The Virginia Retirement System (VRS) manages the assets in the Commonwealth’s public employee retirement systems. The available evidence suggests that the VRS has been well managed and has outperformed many other state pension funds. We evaluate the VRS’s performance and suggest changes that could enable it to lower its costs even while improving its rate of return.

Life In Hampton Roads Survey Press Release #2: Economic Conditions And Perceptions Of Employment, Social Science Research Center, Old Dominion University

Life in Hampton Roads Survey Report

[Introductory paragraph]

Survey respondents were asked to rate the economic conditions in Hampton Roads today. The percentage of respondents who feel the economy is doing ‘excellent’ remains fairly steady at 6.6 percent (7.4% in 2018). On the other hand, the percent rating the economy as poor since 2015 has been on the rise, increasing from 6.8% to 10.9%. There is a relatively even split this year when combining responses for “excellent/good” (49.9%) and “fair/poor” (48.4%).

Domestic Violence: The Financial Implications Of Abuse, Yenny Masmela

Petersheim Academic Exposition

No abstract provided.

Globalization And Social Spending: Lessons For India, Ansh Jain

Honors Program Theses

As developing countries increasingly integrate themselves into the global economy, increased social spending is desirable to protect their vulnerable groups from rapid changes experienced by the economy associated with increased openness. However, while developed nations are largely successful in maintaining and increasing their social spending as a response to globalization, the case with developing countries is usually the opposite. We find that key determinants of this divergence between developing and developed countries stems from factors such as the extent of surplus and informal labor, quality of democracy and democratic institutions, and the power of unions. As India further integrates into …

Air Quality And Asthma Hospitalization: Evidence Of Pm2.5 Concentrations In Pennsylvania Counties, Elham Erfanian, Alan R. Collins

Regional Research Institute Working Papers

According to the World Health Organization, 235 million people around the world currently suffer from asthma, which includes approximately 25 million in the United States. There is substantial epidemiological evidence indicating linkages between outdoor air pollution and asthma symptoms, more specifically between concentrations of particulate matter and asthma. Using county level data for 2001-2014, a spatial panel framework is imposed based upon prevailing wind patterns to investigate the direct and indirect impacts of PM2.5 concentration levels on asthma hospitalization in Pennsylvania. This model controls for population density, precipitation, smoking rate, and population demographic variables. Results show that PM2.5 concentrations as …

Front Matter: The State Of The Region: Hampton Roads 2019, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Cover, front matter, table of contents, sponsors, and other materials for the 2019 The State of the Region report authored by Center for Economic Analysis and Policy at Old Dominion University

The State Of The Region: Hampton Roads 2019, Dragas Center For Economic Analysis And Policy, Old Dominion University, Vinod Agarwal, Barbara Blake, Ethan Crouson, Steve Daniel, Addie Gregory, William Heffelfinger, Saloni Jain, Elizabeth Janik, Nikki Johnson, Kiran Karande, James V. Koch, Timothy M. Komarek, Feng Lian, Sharon Lomax, George Mcleod, Janet Molinaro, Brendan O'Hallarn, Bailey Park, Emily Steinhilber, Jay Walker, Hannah White, Robert M. Mcnab

State of the Region Reports: Hampton Roads

[From the introductory material]

This is Old Dominion University’s 20th annual State of the Region Report. While it represents the work of many people connected in various ways to the university, the report does not constitute an official viewpoint of Old Dominion, its president, John R. Broderick, the Board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

While the enthusiasm we have for our work remains high, it has been dampened by the recent passing of George Dragas, the individual most responsible for perceiving …

Part 2: 420 In The 757: Marijuana And Hampton Roads, Dragas Center For Economic Analysis And Policy

State of the Region Reports: Hampton Roads

More than 30 states permit the personal use of marijuana for medical purposes and 11 states have legalized the possession of small amounts of marijuana for personal use. Over 50 percent of Americans have used marijuana in their lifetimes and young adults in Hampton Roads use it at a higher rate than their peers in all other regions of the Commonwealth. We take a look at how a change in the status of marijuana could affect Hampton Roads.

Part 1: Full Speed Ahead: The Regional Economy Continues To Improve, Dragas Center For Economic Analysis And Policy

State of the Region Reports: Hampton Roads

For the first time in a decade, the Hampton Roads economy is poised to grow for the third straight year. Unemployment has declined, incomes have increased and output has risen. Increases in defense spending, tourism, and education and health services have fueled our recent growth. Yet, there are storm clouds on the horizon. How long can the good times last?

Part 4: The State Of Soccer In Hampton Roads, Dragas Center For Economic Analysis And Policy

State of the Region Reports: Hampton Roads

The "beautiful game" is thriving in Hampton Roads. Two new professional soccer teams now play in the region and thousands of children, teenagers and young adults play on pitches from Williamsburg to Virginia Beach. We look at the demographics of soccer, how the model of youth sports has changed in America and the prospects of growth in the coming years.

Part 3: Mind The Gap: Women's Leadership In Hampton Roads, Dragas Center For Economic Analysis And Policy

State of the Region Reports: Hampton Roads

We examine whether there is a leadership gap between women and men in Hampton Roads. While a gap in earnings can be explained partly by occupational choice, part-time versus full-time employment and the risks of certain occupations, there remains the challenge of women being able to ascend to the higher levels of their chosen profession. We explore the extent of the leadership gap in our region and discuss what can be done to narrow it.

Part 5: Can Defense Save Us?, Dragas Center For Economic Analysis And Policy

State of the Region Reports: Hampton Roads

Sequestration is blamed for many of our region's problems. In this chapter, we assess what would have happened to the Hampton Roads economy if sequestration had never occurred. We compare the impact of sequestration with the drawdown from the Cold War. We ask whether it is time to prepare for the next downturn in defense spending.

Part 6: The Economic Impact Of A Hurricane On Hampton Roads, Dragas Center For Economic Analysis And Policy

State of the Region Reports: Hampton Roads

In 1821, a Category 3 hurricane made landfall in Hampton Roads, flooding Norfolk before moving on to New York City. What would be the impact of a similar hurricane today on the region's economy? We find that a major hurricane would cause almost $20 billion in property damage, create more than 2 million tons of debris and reduce economic output by over $20 billion in the first year following landfall.

International Finance, Paul A. Hayes

Open Educational Resources

No abstract provided.

A Model Of Low-Risk Piracy, Amil Camilo

Honors Undergraduate Theses

Heterogeneous consumers make the decision to buy a durable good or to download a replica, and a monopolist chooses to price and protect their intellectual property in the form of an authentication cost. An optimal price and authentication cost is derived, and shown to be higher than the efficient outcome for a uniform distribution of consumers. The optimal selection of price and protection are shown to be commensurate with his authenticating technology, and the searching ability of consumers. As an extension, a layout for a monopolist problem where consumers have different searching abilities is shown to be indistinct from a …

The Effect Of Corporate Social Responsibility On Firm Value And Performance, Jennifer E. Maxey

Honors Undergraduate Theses

In this thesis, I test the effects of corporate social responsibility (CSR) on firm valuation and performance from the financial crisis of 2007 to year 2013. Prior research on CSR suggests that CSR is related to firm performance, but the results have not been consistent. My study focuses on the time period following the crisis since trust between firms and stakeholders may be more important following a negative shock. The components of CSR are broken out into environmental, human rights, diversity, community impact, employee relations, product, and corporate governance. I find evidence that at least some measures of firm performance …

Recruit Quality And College Football Team Performance In The Cfp Era, Jordan Aaron Izenwasser

Honors Undergraduate Theses

Recruiting is a major component of college football. Teams compete for recruits since the quality of a recruiting class contributes to on-field success. Previous studies have investigated the relationship between recruit quality and on-field performance and have found that a positive relationship exists. This thesis contributes to the literature by empirically examining how recruit quality affects team performance in the College Football Playoff (CFP) era using various measures of success. Panel data econometric models are used to determine the effect of recruits between schools, as well as within both conferences and schools on team performance. It also considers the validity …

Effects Of Sme Access To Capital On Country Economic Performance: Understanding The Differences Between The Developed And The Developing World, William B. Reed

Honors Undergraduate Theses

The intent of this thesis is to explore the effects of small-medium enterprises' (SME) access to capital on country economic performance and examine the differences between the developed world and the developing world. Specifically, two main questions are addressed: whether there are significantly higher barriers-to-entry through a lack of access to credit in developing countries as well as whether SMEs access to credit around the world has changed over time.

Using a sample of 46 countries and grouping them two different ways (developed vs developing and free-market vs non-free-market), I find a negative correlation between the SMEs access to capital …

Essays On The Economics Of The National Basketball Association (N.B.A.): Testing For Inefficiencies In The N.B.A. Labor Market, Samuel S. Lee

CGU Theses & Dissertations

This dissertation is comprised of three economic essays, that each examine the labor market for players in the National Basketball Association (N.B.A.). Neoclassical economics often incorporate models that assume individuals are utility-maximizing agents who behave rationally. However, many studies in the field of behavioral economics have found evidence of irrational decision making, both within laboratory environments as well as in natural settings. The objective of this paper is to provide additional research to this growing body of literature by using empirical data collected from the N.B.A. to conduct quasi-field experiments. Although some may question their generalizability, one of the main …

What Determines Chinese Outward Foreign Direct Investment: An Empirical Research, Qiaoli Yu

CGU Theses & Dissertations

The rise of Chinese multinational enterprises (CMNEs) and the growth of Chinese outward foreign direct investment (OFDI) have been two important trends in the world economy. This dissertation aims to deliver a complete picture of Chinese OFDI by investigating what determines Chinese OFDI. Based on a perspective of international political economy, we use a multilevel framework which includes country level, industry level, and firm level to demonstrate a reciprocal relationship between the Chinese government’s political benefits and CMNEs’ economic benefits. The Chinese government plays the role of an organizer in this relationship to guarantee its political benefits and enlarge CMNEs’ …

Analyzing Access To Higher Education: Through The Lens Of Socioeconomic Factors At Bucknell University, Autumn J. Patterson

Honors Theses

Access to higher education in the United States greatly varies depending on numerous characteristics; especially an applicant’s race and financial status. This thesis aims to answer the following questions regarding access to higher education at Bucknell University: How have socioeconomic factors affecting access evolved in the past twelve years? Has this change increased or decreased access for Bucknell students? Does the level of access change when gender and race are analyzed? Is Bucknell successfully leveling the playing field for all students regarding their earning potential after they graduate? Lastly, does the mismatch hypothesis apply to Bucknell? By utilizing data from …