Economics Commons^™

Algorithmic Rationality, Rohit J. Parikh

Publications and Research

The notion of rationality is much discussed by both Economists and Philosophers. Perhaps you are rational if you accept certain axioms of rationality. If you prefer A to B and B to C then you must prefer A to C. Or you can define rationality in terms of the net results of your behavior. We examine a notion of algorithmic rationality. Even animals upwards from the humble tick carry out algorithms. Are they rational? And can we use this theory to define the IQ of animals?

Does An Initial Public Offering (Ipo) Issuer's Securities And Exchange Commission Registration Fee Calculation Method Predict Pricing Revisions And Ipo Underpricing?, Patrick M. Corrigan

Journal Articles

This paper proposes a new proxy for the ex ante expectations of issuers and their underwriters about the direction of pricing revisions during the roadshows of an initial public offering (IPO): the way issuers elect to calculate the registration fees owed to the Securities and Exchange Commission. Consistent with fee-minimizing decision-making, I find that the choice of fee calculation method is associated with pricing revisions and IPO underpricing. This relationship suggests that issuers or their advisors may not incorporate economically significant private valuation information into the initial pricing range estimate and initial public offering price. The results provide empirical support …

P-05 Gender Budgeting And Gender Equality In Europe With Historical Data During 1994-2013, Jeniffer G. Ratulangi, Jerry L. Chi, Grace Chi

Celebration of Research and Creative Scholarship

Gender budgeting and gender equality in Europe plays a crucial role in inequality and development to have enjoyed sustained support. Inequalities have risen in some countries in recent decades due to factors such as globalization, technological change, taxation policy, and the economic crisis (Eurofound, 2022). Therefore, when high levels of inequality reduce growth in relatively poor countries but encourage growth in richer countries (Balls, 1999). This paper aims to examine the impact of gender budgeting processes on gender equality and fiscal space in European countries. Using secondary data research with a 45-item survey that measures participant gender budgeting and equality. …

The Annual Economic Diversity And Inclusion Summit [Flyer], 2022, University Of Northern Iowa. Center For Multicultural Education.

Economic Inclusion Conference Documents

A flier advertising the Annual Economic Diversity and Inclusion Summit held October 21, 2022

Staying Out Of Trouble? Effect Of High School Career Counseling On Crime, Stephen Barnes, Louis-Philippe Beland, Swarup Joshi, Barton Willage

Economics Faculty Works

Human capital-based models of crime imply that increasing educational attainment will decrease crime. A growing body of empirical work has supported this hypothesis, however the evidence is still limited. We investigate if a high school career coaching program, Career Compass of Louisiana, decreases youth crime during and after high school. Career Compass provides students counseling services regarding college admissions, financial aid, and career exploration. We use student-level administrative education and crime convictions data and a difference-in-differences empirical strategy to test for an education-crime relationship among high school seniors. While existing research shows the Career Compass program increases post-secondary enrollment, we …

Resetting Foreign Economic Relations : Part - Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

China: there are several areas where the ongoing cooperation between Pakistan and China should be continued but at least three areas need to be focused for accelerated implementation. These are: one, completion of ongoing projects under CPEC – addition of capacity to the national power grid by bringing the hydropower, renewable energy and coal projects to culmination. The ML1 Railway track has been pending approval and financing for several years and each year of delay adds to the logistical costs to the economy and fiscal deficit by absorbing the losses of Pakistan Railways operating an outdated system. The Gwadar Port …

Executive Summary: Driving The Southern Nevada Health Economy Forward, Tripp Umbach

Policy Briefs and Reports

The University of Nevada, Las Vegas (UNLV) plans to develop an integrated academic health center within the Las Vegas Medical District (LVMD).1 The academic health center includes UNLV’s five health science schools and mental and behavioral health, which is distributed among several colleges (medicine, liberal arts, urban affairs, and education) in the university. University Medical Center (UMC), a major teaching hospital, will also be an important driver of the academic health center. For the purposes of this report, UNLV’s medical and health science entities along with UMC are referred to collectively as the UNLV Academic Health Center.

Driving The Southern Nevada Health Economy Forward: Benefits Of A Transformational Unlv Academic Health Center, Tripp Umbach

Policy Briefs and Reports

The University of Nevada, Las Vegas (UNLV) plans to develop an integrated academic health center within the Las Vegas Medical District (LVMD). The academic health center includes UNLV’s five health science schools and mental and behavioral health, which is distributed among several colleges (medicine, liberal arts, urban affairs, and education) in the university. University Medical Center (UMC), a major teaching hospital, will also be an important driver of the academic health center. For the purposes of this report, UNLV’s medical and health science entities along with UMC are referred to collectively as the UNLV Academic Health Center. Additional academic health …

Different Maternal Responses And Cognitions In Hypothetical Power Bouts: Relations To Parenting Styles, Kathy L. Ritchie

Midwest Social Sciences Journal

In order to explore how parental styles and maternal cognitions interacted with difficult extended discipline episodes called power bouts, 88 mothers were categorized as either Authoritative, Authoritarian, Permissive, or Uninvolved. Mothers then read six hypothetical vignettes about a 4-year-old child misbehaving and were asked how they would respond to the child and how they would respond a second time if the child did not behave. These open-ended responses were coded on a scale of increasing power assertiveness with 0 being giving in and 5 indicating using punishment through spanking, removal of privilege, or time out. Using Bell and Chapman’s (1986) …

The Evolution Of The Southern Nevada Healthcare Economy: Building The Unlv Academic Health Center, The Lincy Institute

Lincy Institute Events

With the successful launch of the Kirk Kerkorian School of Medicine at UNLV and the completion of its medical education building, Southern Nevada is positioned to expand its healthcare infrastructure - and its healthcare economy - to create a comprehensive, integrated healthcare system to serve our fast-growing community. As UNLV moves forward with the development of an integrated academic health center within the Las Vegas Medical District, understanding the economic and social benefits of such a transformational project is important to stakeholders throughout the region.

The Lincy Institute hosted representatives of Tripp Umbach - the nation's leading consultant on community …

Tiempo Y Gubernamentalidad: Aproximaciones Al Gobierno Del Tiempo En El Neoliberalismo, Edwin Alexander Hernández Zapata, Mauricio Hernando Bedoya Hernández

The Qualitative Report

En este trabajo problematizamos los diagnósticos sobre gubernamentalidad neoliberal, analizando las formas en que hoy son dirigidas las conductas de los sujetos con base en ritmos caracterizados por la velocidad, el presentismo y la competencia. Estudiar estas formas marcan un precedente para el abordaje de los procesos de subjetivación contemporánea a partir de la analítica de la temporalidad. Así, la pregunta de investigación que guía este trabajo es la siguiente: ¿Cómo los diagnósticos sobre la racionalidad neoliberal describen la experiencia del tiempo que tienen los sujetos contemporáneos? Utilizamos el método histórico crítico, específicamente lo que Foucault denominó ontología del presente, …

Cost Analysis Of Implementing An Exercise Program For Fall And Fracture Prevention In Older Adults On Proton Pump Inhibitor Therapy, Thomas Adam Wichelmann, Nhan Dang, David H. Kruchko, Sufyan Abdulmujeeb, Eli D. Ehrenpreis

Journal of Patient-Centered Research and Reviews

Purpose: Falls have significant financial impact. Proton pump inhibitor (PPI) therapy is associated with an increased risk of falls and fractures. Exercise programs have been shown to decrease risk of falls in the elderly population and are recommended by the U.S. Preventive Services Task Force for patients over age 65 to reduce falls. Our study aimed to explore the potential financial benefit of implementing three different Centers for Disease Control and Prevention-recommended exercise-based interventions for fall prevention (Tai Chi, Stepping On, and Otago Exercise Program) in ≥ 65-year-old patients on PPI therapy.

Methods: A Markov model was developed to predict …

With No Deterrent Effect, The Wto Dispute Settlement Crisis Leaves Us Exporters Exposed, Especially Us Agriculture, Christine Mcdaniel

Yeutter Institute International Trade Policy Review

The absence of a functioning Appellate Body at the World Trade Organization (WTO) leaves the dispute settlement mechanism weakened, and countries may be more likely to pursue their domestic policy goals in ways that restrict trade. Industries with relatively large export exposure like US agriculture will be particularly vulnerable in this new chaotic regime. The deterrent effect is more important than you think An integral part of the world trading system has been the WTO’s dispute settlement mechanism, which enables the WTO to enforce the rules the Members signed up for. Knowing you could get sued in the WTO for …

Resetting Foreign Economic Relations : Part I, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The 2021 National Security Policy has made geo-economics its main pivot. It is therefore essential to look in a coherent and comprehensive manner how Pakistan’s economic relations with other nations should evolve to meet this objective. In designing foreign economic policy we should always keep in mind that such a policy would be a by-product of the country’s larger foreign and domestic economic policies. For example, if foreign policy with one particular country or group of countries is silent, ambivalent or agnostic then a foreign economic policy cannot be built upon strong economic cooperation with that country or group. Similarly, …

On The Market For "Lemons": When Low Quality Does Not Drive High Quality Out Of The Market, Konstantinos Giannakas, Murray E. Fulton

Cornhusker Economics

In a research article published in Nature's Humanities and Social Sciences Communications (available at https://www.nature.com/articles/s4l 599-020-00658-w) we identify the conditions under which the introduction of a low -quality product does not drive its high-quality counterpart out of the market but, instead, ends-up coexisting with it. Using a theoretical framework of heterogeneous consumers and producers in the context of a market for quality- ( or vertically-) differentiated products supplied by producers differing in their production efficiency, we show that the equilibrium quality configuration in a market depends on both the unobservability of product quality by consumers and the relative costs …

Robust Testing For Explosive Behavior With Strongly Dependent Errors, Yiu Lim Lui, Peter C. B. Phillips, Jun Yu

Cowles Foundation Discussion Papers

A heteroskedasticity-autocorrelation robust (HAR) test statistic is proposed to test for the presence of explosive roots in financial or real asset prices when the equation errors are strongly dependent. Limit theory for the test statistic is developed and extended to heteroskedastic models. The new test has stable size properties unlike conventional test statistics that typically lead to size distortion and inconsistency in the presence of strongly dependent equation errors. The new procedure can be used to consistently time-stamp the origination and termination of an explosive episode under similar conditions of long memory errors. Simulations are conducted to assess the finite …

Primitive Accumulation And Multinational Corporations: The Evolution Of Dispossession And Exploitation In The Rubber Industry, Matthew Rochat

The Journal of International Relations, Peace Studies, and Development

I examine how the process of primitive accumulation has led to evolving forms of dispossession and exploitation carried out by multinational corporations in the rubber industry. After a brief review of relevant literature, I outline a novel analytical approach to multinational corporations engaged in natural resource extraction, referred to as the Parasitic Extraction Model. I then demonstrate this approach using three case studies. The first, Leopold II’s Congo, showcases the barbaric underpinnings of primitive accumulation in the rubber industry in its crudest form. The subsequent section shifts to the interwar period with Fordlândia in the Brazilian Amazon where I analyze …

Economic Prospects Of Gilgit Baltistan - Part Iii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The recent initiative taken by the GB government to introduce STEM subjects right from the school level is highly commendable. This initiative is quite unique and far sighted. Instead of the traditional recruitment of teachers the government is engaging a private sector provider (PSP) through an open competitive process for imparting digital learning at 34 selected schools to begin with. The PSP would post a resource person in each school to establish complete e-learning environment in schools including servers, routers, power back ups, etc. They would use the Learning Management system (LMS) to deliver the content, set up centralized data …

Rural-Urban Migration And The Re-Organization Of Agriculture, Raahil Madhok, Frederik Noack, Ahmed Mushfiq Mobarak, Olivier Deschenes

Discussion Papers

This paper studies the response of agricultural production to rural labor loss during the process of urbanization. Using household microdata from India and exogenous variation in migration induced by urban income shocks interacted with distance to cities, we document sharp declines in crop production among migrant-sending households residing near cities. Households with migration opportunities do not substitute agricultural labour with capital, nor do they adopt new agricultural machinery. Instead, they divest from agriculture altogether and cultivate less land. We use a two-sector general equilibrium model with crop and land markets to trace the ensuing spatial reorganization of agriculture. Other non-migrant …

Rural-Urban Migration And The Re-Organization Of Agriculture, Raahil Madhok, Frederik Noack, Ahmed Musfiq Mobarak, Olivier Deschenes

Cowles Foundation Discussion Papers

This paper studies the response of agricultural production to rural labor loss during the process of urbanization. Using household microdata from India and exogenous variation in migration induced by urban income shocks interacted with distance to cities, we document sharp declines in crop production among migrant-sending households residing near cities. Households with migration opportunities do not substitute agricultural labour with capital, nor do they adopt new agricultural machinery. Instead, they divest from agriculture altogether and cultivate less land. We use a two-sector general equilibrium model with crop and land markets to trace the ensuing spatial reorganization of agriculture. Other non-migrant …

Nevada Workforce Diversity, Equity, And Inclusion Study 2022, Jan Jones Blackhurst, Becky Harris

International Gaming Institute Faculty Research

Diversity, Equity, and Inclusion (DEI) metrics enable organizations to set concrete goals and self-monitor their performance. In 2021, Nevada’s legislature passed Senate Bill No. 267 (SB267), authorizing the University Nevada, Las Vegas (UNLV) to study DEI benchmarks in the State. The study is designed to produce actionable results capable of informing policy and employer best practices in Nevada. This study was piloted in 2021, with study participation taking place between January 3-April 30, 2022.

The questions in the study were crafted based on DEI public policy considerations as well as metrics for gauging the scope of offerings available to women …

Case Growth Analysis To Inform Local Response To Covid-19 Epidemic In A Diverse Us Community, Marcia C De Oliveira Otto, Frances A Brito, Ji Yun Tark, Eric Bakota, Jose-Miguel Yamal, Dritana Marko, Shreela V Sharma, Michael R Brown, Savitri N Appana, Alison M Rector, Stephen H Linder, Jennifer Kiger, Karen C Tseng, Alanna C Morrison, Eric Boerwinkle

Faculty, Staff and Student Publications

Early detection of new outbreak waves is critical for effective and sustained response to the COVID-19 pandemic. We conducted a growth rate analysis using local community and inpatient records from seven hospital systems to characterize distinct phases in SARS-CoV-2 outbreak waves in the Greater Houston area. We determined the transition times from rapid spread of infection in the community to surge in the number of inpatients in local hospitals. We identified 193,237 residents who tested positive for SARS-CoV-2 via molecular testing from April 8, 2020 to June 30, 2021, and 30,031 residents admitted within local healthcare institutions with a positive …

In Favor Of Bringing Game Theory Into Urban Studies And Planning Curriculum: Reintroducing An Underused Method For The Next Generation Of Urban Scholars, Brian Mcdonald Gardner

Dissertations and Theses

By looking at some historical examples of Urban Studies literature and theory (and a detailed dive into Neil Smith's "Toward a theory of gentrification…") this thesis makes the case that Game Theory has valid insights to add to the foundation of Urban Studies and Planning and should be included in Masters and Doctorate level curriculums. As a discipline Game Theory has revolutionized multiple other fields, and can be used both mathematically and/or non-mathematically. It is postulated below that the inclusion of Game Theory would help scholars and practitioners arrive at better outcomes. This case is made by reviewing various areas …

Unfair Commercial Practices In A Pit Market: Evidence From An Artefactual Field Experiment, Francesco Bogliacino, Rafael Charris, Cristiano Codagnone, Frans Folkvord, Felipe Montealegre, Francisco Lupiáñez-Villanueva

ESI Publications

Commercial practices such as drip pricing, reference pricing and best-price guarantee can be used to set higher prices and mislead consumers, but protective measures can restore efficiency. In a placebo-controlled market experiment, we examined a treatment allowing for the use and misuse of commercial practices. Three additional treatments tested the effects of formal sanctions, informal sanctions and a regret nudge. We found that commercial practices led to higher prices, cheating was systematic and regret nudging was ineffective. Furthermore, formal and informal sanctions reduced both the likelihood of using commercial practices and the likelihood of cheating, leading to welfare increases.

The Affordable Care Act And Women’S Self-Employment In The United States, Margaret Blume-Kohout

Economics Faculty Publications

The United States’ Affordable Care Act (ACA) of 2010 improved and expanded availability of non-group health insurance. Previous studies have shown that women in the US workforce value health insurance more highly than men do. Because prior to the ACA self-employed individuals did not have guaranteed access to affordable health insurance coverage, women’s relatively lower rate of self-employment may partly have reflected their greater “job lock” due to employer-based health insurance. This article employs nationally representative survey data for 2009–18 and a quasi-experimental difference-in-difference modeling approach and finds that unmarried women’s probability of self-employment increased by 1.2 percentage points in …

The Geopolitics Of Infrastructuralized Platforms: The Case Of Alibaba, Hong Shen, Yujia He

Patterson School of Diplomacy and International Commerce Faculty Publications

Contemporary digital platforms have become increasingly infrastructuralized, and started to raise geopolitical tensions with their global expansion. Amidst the heightened geopolitical competition between the US and China, the growing power of Chinese infrastructuralized platforms has made them the center of recent geopolitical dynamics. Drawing from an exploratory case study, this paper discusses Alibaba, one of the most prominent Chinese Internet giants, as an infrastructuralized platform, and highlights its geopolitical struggles. Often perceived as an e-commerce company, Alibaba has become ‘infrastructuralized’: its now-massive digital empire has moved beyond e-commerce, expanding into almost every aspect of China’s and global digital economy such …

Theory Of Collective Action, Rohit J. Parikh

Publications and Research

Theory predicts that when people pursue their selfish aims then it leads to suboptimal outcomes for society or to the group they belong to. The prisoner's dilemma and the tragedy of the commons are classic examples. In her presidential lecture to the American Political Science Association Elinor Ostrom examined this fact and also noted that in practice people do not always follow the suboptimal strategy. What does she suggest? This document consists of slides I created giving an account of her paper. She had not won the Nobel when she gave this talk but it was conferred on her later.

The Economic Crisis Index Quarterly Newsletter, Darrol J. Stanley, Donald M. Atwater

Graziadio Working Paper Series

This is the first issue of a quarterly newsletter publication that will update the Economic Crisis Index ™. This issue explains in detail the methodology of the Economic Crisis Index (ECI) and its comparison to other similar indices. Future newsletters will center on the ECI number and its implication to the American economy. These newsletters will be posted on the Pepperdine University Digital Commons.

Unmasking The Tipping Point For The Next U.S. Financial Crisis, Darrol J. Stanley, Donald M. Atwater

Graziadio Working Paper Series

The risks of the next U.S. Financial Crisis are increasing. Many Americans are fearful of the very negative financial impact of the next crisis especially since it could occur so soon after the negative impact of the Covid Pandemic on the economy. Financial safety nets are weak. The scope of the crisis includes decreasing values of assets, a recession caused by government policies, decreases in the value of existing bonds, and significant social stress fueled by political polarization after the 2022 midterm elections. We believe the solution to the fear begins with knowledge and a logical approach to assess key …

Financial Literacy And Investing Habits Of Generation Z As It Pertains To Financial Marketing, Meghan Mazzatto

Honors Projects in Marketing

As technology boomed at the end of the 20th Century and into the 21st Century, the methods young adults use to manage their finances have also evolved. Between moving financial investing and banking to the internet, robo-advising apps, college debt, and the generational reaction to the 2008 Financial Crisis, the world of investing has taken a drastic turn when it comes to young investors. The purpose of this study is to examine the financial habits of Generation Z in order for financial planning companies to better market to the upcoming Generation Z. A survey was used for this study to …