Economics Commons^™

The Value Of A Vote: Vote Pivotality Information And Its Impact On Voter Willingness To Accept, Nicholas J. Sickinger

Honors Theses

A variety of factors influence the decision to participate in a democratic election or not. This paper explores one of these factors: an individual’s perceived pivotality. I explore how people assess the value of their vote when they are informed about the likelihood that their vote will be pivotal. To do so, I conduct an online voting experiment where subjects participate in three different stylized elections: a marginal election, a landslide election, and an uninformed election (where the voter distribution is unclear to participants). I elicit participants’ vote valuations and compare them across election conditions and demographic groups using both …

Deconstructing The Greenium: Exploring Mispricing In The Green Bond Market, Koto Yamada

Honors Theses

This paper investigates the sources and conditions under which the greenium – a yield discount observed for green bonds relative to comparable conventional bonds – appears in global fixed income markets. Using a dataset of over 26,000 bonds issued between 2012 and 2024 across 37 countries and 5,400 firms, I find that the existence of the greenium is highly context-dependent, shaped by factors such as issuer reputation, institutional trust, and green capital allocation across sectors. Repeat green issuers receive yield discounts of up to 57 basis points, particularly in the EU and Nordic countries, where strong climate policies and disclosure …

Drivers Of Heat Pump Installation In Maine: Climate Shocks, Politics, And Incentives, Micah J. Margolis

Honors Theses

Heat pumps are a growing trend as climate adaptation measures around the world and are gaining significant popularity and attention due to a number of environmental and social factors across Maine. Homeowners in Maine face difficult financial and personal pressures when considering a heat pump. Impacting this decision is a high cost of energy, a substantial rebate offsetting the purchase price, as well as summers and winters that are warming beyond record highs and lows. Previous research has looked at specific populations or large regions without considering the long-term personal drivers of this decision. I use data from Efficiency Maine, …

Global Rate Pass Through: Impact Of The Global Savings Market On Home Prices In The Uk, Laxmi Namboodiri

Honors Theses

This paper examines how changes in the global savings and investment market impact housing prices and supply in the United Kingdom. I first constructed a global interest rate using principal component analysis. Then, using structural VARs, I estimate impulse response functions to study the dynamics of housing prices and supply in the UK with an impulse in the global interest rate. The model predicts that housing prices and supply will increase immediately and then decrease after a lag. The decrease is primarily driven by the years after the stock market crash as opposed to before.

The Relevance Of Information On Effective Charitable Giving, Pride J. Jia

Honors Theses

The most effective charities are often more than a hundred times as effective as the average charity. However, top charities are not prioritized, and donation money is not used most effectively. To address this issue, it is crucial to understand why effective charitable giving is not prioritized. One factor identified in previous research is the limited access to cost-effectiveness information among donors. Our research explores whether providing individuals with different forms of information about charities leads to more effective donation decisions. Through an online RCT, individuals are separated into groups exposed to different types of information about two charities and …

Mucking Up Public Health: A Geospatial Analysis Of Agricultural Sludge Application And Cancer Prevalence In Maine, Sarah A. Bassett

Honors Theses

This study investigates the impact of per- and polyfluoroalkyl substances (PFAS) on cancer prevalence throughout Maine. The main contribution of this project is the database constructed to examine cancer rates at a novel aggregation area: watersheds. By using a watershed as the aggregation area, this study gains insight into the threat that spreading sludge as fertilizer on agricultural fields poses to human health through groundwater pathways. Using geospatial analysis and an ordinary least squares regression model, this study estimates the effect of the presence of PFAS in a watershed from 2017 to 2021, in addition to estimating the impact of …

From Colony To Classroom: British Rule And Contemporary Educational Outcomes In India, Yashvita Shukla

Honors Theses

This study analyzes the modern day legacy of British colonial ruling structures on Indian educational outcomes. In directly ruled areas, the British retained total control, while Indian princes in indirectly ruled areas had administrative agency. I find that directly ruled districts have higher literate population shares across both genders over three census years, but no significant difference by 2011 in primary, secondary, and tertiary education, controlling for colonial geographic conditions. Gender-disaggregated results generally find stronger colonial effects for women than men. This thesis challenges earlier findings and implies that the British effort to create an educated administrative class and their …

Venezuela's And Mexico's Oil Industries: Policy Making Sets The Course, Camila Gimenez Valero

Honors Undergraduate Theses

The puzzle of Venezuela's crisis is one that researchers often try to understand. How did one of the richest nations in the world become one of the poorest? Venezuela is nowadays seen as a country with political unrest, where people struggle to get by and with a corrupt government. However, this was not always the case. Throughout the 20th century Venezuela had remarkable economic stability. Having discovered the world's largest known oil reserves, the nation's economy quickly developed, and the country also became known for its long-standing democracy. After the election of Hugo Chavez in 1998, Venezuela began to decline …

The Paradox Of Value, David Enrique Guarnizo

Theses and Dissertations

The present thesis project examines how, in the United States, and especially in the state of Virginia, archetypes of "wealth," "value," and "identity" have been constructed in relation to land and territory. This analysis explores the tension between the inherent value of life on the land and the economic value that can be derived from it. This tension is exemplified by a theory known as the "paradox of value", also referred to as the "paradox of water and diamonds", which was developed by the renowned Scottish economist and philosopher, Adam Smith. This theoretical framework serves as a fundamental axis for …

Introducing Sustainable Development Goals In College Curricula: A Way Forward, Christy Ashley, Jason D. Oliver, Hillary Leonard

Markets, Globalization & Development Review

The commentary proposes a blueprint to help guide curriculum innovations, partnerships, and teaching interventions that incorporate the United Nations sustainable development goals (SDGs) into the curriculum. It suggests the utilization of AACSB’s Societal Impact Canvas with Ancona et al.’s (2007) Leadership Capabilities (Sensemaking, Relating, Visioning, Inventing) to provide a blueprint for mission-aligned SDG integration at a local level. It provides an illustrative example from the University of Rhode Island (USA), where the focus is on the Blue Economy. It aims to provide practical guidance for how a college or university can efficiently organize to gain stakeholder input that helps enhance …

Redefining The Relevant Market: Abandonment Or Return To Brown Shoe, Daniel A. Hanley

Dickinson Law Review (2017-Present)

Defining a relevant market is arguably the most important requirement in antitrust litigation. Between the 1890s and the 1940s, defining a relevant market was a simple and generalized process, typically undertaken by courts as a cursory matter. However, in the 1960s, defining relevant markets became a centerpiece of antitrust litigation. The modern method originates from the Supreme Court’s landmark 1962 decision in Brown Shoe v. United States. The method commonly known as the Brown Shoe test requires judges to construct relevant markets by carefully analyzing accessible and understandable qualitative data, such as internal corporate documents and consumer surveys. Since the …

Overconfidence Bias Amongst Student Investors, William Winship

Economics Honors Papers

No abstract provided.

The Economics Of Sex Work As Modern Day Slavery, Clifton Carragher

Economics Honors Papers

No abstract provided.

Book Of Abstracts Of The Wmu International Conference 2025 : Advancing The Blue Economy Through Gender Equality, World Maritime University, Momoko Kitada, Francis Neat, Renis Auma Ojwala

Conference Papers

The 2025 World Maritime Theme by the International Maritime Organization, “Our Ocean, Our Obligation and Our Responsibility,” underscores the global need for an inclusive and sustainable approach to ocean health and maritime economic activity. In alignment with this, the World Maritime University organized the 2025 International Conference on Achieving the Blue Economy Through Gender Equality, highlighting the critical role of gender equality in advancing a sustainable blue economy. A call for case studies yielded 102 abstracts from 206 authors across 46 countries, representing diverse maritime sectors such as shipping, fisheries, and ocean sciences. The abstracts were reviewed by both internal …

The Black-Market Commodification Of Human Organs And Bones: A Marxist Perspective, Erik Schulz

Nebraska Anthropologist

The trade and treatment of human remains, while seemingly straightforward, have increasingly become subjects of ethical and moral debate. Over time and in light of recent events, questions have emerged regarding the appropriateness of how human remains are handled and exchanged. This paper examines these issues through the lens of Marxist framework and the perspective of forensic anthropology. The objective is to provide contextual understanding and encourage a reevaluation of current practices, particularly within academic settings, to ensure that human morals, dignity and ethical standards are upheld.

Deportations And Debt: How The Trump Administration’S Immigration Policies Affect The United States’ National Debt Situation, James D. Webster

Honors Theses and Capstones

The value of the United States’ national debt measured as a share of its economic output, otherwise known as its debt-to-GDP ratio, is projected to reach an all-time high and continue to climb over the span of the next 30 years. This can be attributed to a combination of tax and spending policies which generate annual budget deficits as well as a projected slowdown of economic growth. A major factor contributing to this situation is the slowing growth of the labor force in the United States. As time goes on, the growth of the U.S. population slows, and immigration becomes …

The Game Of Going Public: Market Timing, Information Asymmetry, And The Signaling Effects Of Initial Public Offerings (Ipos) In The Technology Industry, Kiana Seva

Scripps Senior Theses

My thesis explores the game of going public in the technology industry, specifically the strategic decision-making process of issuing an initial public offering (IPO), the advantages a company may gain from its market timing, and the signaling effects of its IPO. Existing research on this subject is vast but fragmented into areas that focus on the decision to go public, game theoretical analysis of the advantages, analysis of the advantages using quantitative data, and signaling effects. To address this gap, I developed and analyzed three game theoretic models which account for all these factors that affect the success of an …

Reporting And Underreporting Of Sex Harassment In United States Public Schools: A Mixed Methods Analysis, Erica S. Matthisen

Scripps Senior Theses

Using mixed methods, I assess the factors that contribute to the underreporting of sex harassment in elementary and secondary educational environments. I first use regional Title IX data to assess the impacts of Title IX resource access on several indicator variables, finding a positive impact on allegations and discipline cases when a harassment/bullying policy was made available online. Next, I seek to identify other factors that contribute to reporting or underreporting. To that end, I conduct organizational analysis and informational interviews. From the organizational analysis, I identify factors that contribute to the normalization and underreporting of sex harassment and strategies …

Where Does The Money Go? Three Essays On Intergovernmental Transfers, Spending, And Poverty In Indonesia, Jacobus Cd Rijoly

Theses and Dissertations--Public Policy and Administration

Indonesia allocates substantial intergovernmental transfers to local governments; nonetheless, the decrease in poverty remains limited. This dissertation posits that the binding constraint is institutional, specifically the regulations and incentives that dictate the extent to which funds are allocated from the government to designated programs. Institutional pass-through refers to the fraction of a transfer that is allocated to a program expenditure. The three essays integrate estimation, budget composition evidence, and a formal model to explain both modest average effects and heterogeneity across regions and programs.

The first essay evaluates the impact of transfers on provincial poverty from 2001 to 2022 by …

Institutionalisation And Institutional Evolution: A Model Of Selecting Government Officials In Ancient China, Haiwen Zhou

Economics Faculty Publications

The evolution of institutions in selecting government officials in ancient China reflected efficiency considerations and increased power concentration in the hands of the ruler. Selecting government officials in ancient China became more rule‐based over time, and standardisation and centralisation were some key features of this process. In this dynamic model, a higher volume of transactions, shown as the number of candidates needed to be evaluated, leads to institutionalisation, which has a higher fixed cost but a lower marginal cost in processing each transaction. In the steady state, a ruler with a more encompassing interest chooses a higher level of institutionalisation. …

Impact Of Geography On Institutions In Agricultural And Nomadic Societies, Haiwen Zhou

Economics Faculty Publications

How geography affects the choice of institutions is studied in a theoretical model. In this model, nations are located around a circle. Rulers compete through choosing tax rates, the level of military spending, and the degree of formality of institutions. Geographic condition is captured by population density. It is shown that societies with higher population densities choose lower tax rates, establish more formal institutions, and give government officials lower levels of autonomies than those with lower population densities do. A higher level of external threats induces a ruler to choose a higher level of autonomy for officials. The model is …

Politicians As Persuaders: A Field Experiment On Messenger Effects And Social Program Uptake, Syon Bhanot

Economics Faculty Works

Accessing public sector programs often involves onerous administrative processes for citizens, which can demotivate program applicants and discourage uptake. In this study, I worked with the Philadelphia Housing Development Corporation (PHDC) to test an intervention to boost uptake of PHDC’s Basic System Repair Program (BSRP) by using local political leaders to persuade citizens to complete the program’s onboarding process. Specifically, I randomly assigned 2,575 BSRP applicants to either receive a motivational mailer from PHDC directly, or from the office of that citizen’s representative on the Philadelphia City Council. While I find that the average response rate for individuals who received …

The Implications Of A Rise In The Minimum Wage: Evidence From Female Workers In Mexico, Isabella Cardenas Padilla

CMC Senior Theses

This thesis analyzes the 2019 minimum wage reform in Mexico, evaluating its impact on female labor market outcomes, including labor force participation, formal employment, and informal employment. This reform introduced a new geographic minimum wage zone along municipalities bordering the United States, accompanied by fiscal incentives, creating a natural experiment for analysis. Using difference-in-differences regression specifications, the study finds that the minimum wage increase was associated with a rise in formal sector employment and a corresponding decline in informal employment among women with low educational attainment. This study finds a magnitude of 6 percentage points in each direction, an economically …

Synthetic Statocracy - Pakistan’S Self-Created Inferno: Examining The Causes And Consequences Of Military Dominance In Pakistan, Umer Lakhani

CMC Senior Theses

This paper examines the history of military rule in Pakistan. Applying the framework of Johannes Gerschewski in The Three Pillars of Stability: Legitimation, Repression and Co-Optation in Autocratic Regimes, this paper looks to explain how military rulers who presided over the three periods of military rule in Pakistan consolidated and maintained their power, as well as the effects that these periods of rule had on Pakistani society. This paper will also supplement Gerschewski’s general framework by applying the findings of various established authors who have been published extensively on Pakistan’s political history, economy and relationship with the military. Such authors …

Bitcoin Adoption And Beliefs In Canada: A Reply To Van Hove (Journal Of Comments And Replications In Economics, 2025), Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia

Economics: Faculty Publications

No abstract provided.

A Geopolitical Economy Analysis Of China And India’S Approaches To Transnational Data Governance, Yujia He, Ka Zeng

Patterson School of Diplomacy and International Commerce Faculty Publications

Recent literature on the behavior of rising powers in digital trade and data governance highlights their discourses of data sovereignty and desire to preserve domestic policy autonomy. This article contributes to the literature by employing a political economy lens that shifts the focus from the nation-state/inter-state framework towards the dynamics of state–capital relations, allowing for a more historical and contextual understanding of the geopolitics of data governance in emerging economies. Using China and India—two of the largest emerging economies—as comparative cases, and drawing on secondary data from government documents and other sources, the article argues that the interplay between the …

One Of The Magnificent Seven Is Coming: Amazon Arrives In East Texas, Manuel Reyes-Loya, Cecilia Cuellar

Hibbs Brief

In this issue of the Hibbs Brief, the arrival of Amazon in East Texas is examined, detailing the company's plans to build a new delivery station in Tyler and estimating its potential economic impact on the region. The brief explains how Amazon's logistics infrastructure works and highlights that the new facility — a roughly 140,000‑square‑foot delivery station — is expected to generate more than 100 full‑time jobs, several hundred part‑time positions, and significant construction‑related employment and economic activity, while broadening the local tax base. By embedding Amazon's presence in the East Texas economy, the analysis shows promising prospects for job …

Exploring Perceived Value: An Analysis Of Belmont University's Dining Options, Joshua Schonland, Delaney King

SPARK Symposium Presentations

Belmont University has a number of dining options available for its students, faculty, staff, and the public. These on-campus dining options include well-known fast food restaurant chains in the United States such as Starbucks Coffee, Chick-fil-a, and Einstein Bros. Bagels. Members of Belmont University who pay for a specific 'meal plan ' have full access to these on-campus options in addition to an all-inclusive dining hall, which is also open to the public for $12.50.

The available meal plans for students, faculty, and staff vary in value and offerings. Some variations offer a fixed number of ‘swipes’, which is a …

Evaluating Visitor Valuation Of Urban Green Spaces By Modality, Vicky J. Gao, Adam Fulton, Ross Andrew

SPARK Symposium Presentations

Abstract: Urban green spaces play a critical role in enhancing the well-being of city residents by providing recreational opportunities, environmental benefits, and a social setting. While still in its early stages—focused on analyzing findings from a pilot survey—this study aims to investigate how visitors value urban green spaces through surveys conducted in Warner Parks in Nashville, with plans to expand to other significant urban green spaces in neighboring states.

For the purposes of SPARK, this study presents the findings of the pilot survey. The survey collected data on variables such as primary park activity, distance travelled to local parks, perceived …

Fiscal Citizenship And Taxpayer Privacy, Alex Zhang

Faculty Articles

Should individual tax data be public or confidential? Within the United States, secrecy has been the rule since the Tax Reform Act of 1976. But at three critical junctures—the Civil War, the 1920s, and the 1930s—Congress made individual tax records open for public inspection, and newspapers published the incomes of the billionaires of the time. Today, Finland, Norway, and Sweden all mandate significant transparency for individual tax information.

This Essay intervenes in the tax-confidentiality debate by building a new analytical framework of fiscal citizenship. Until now, scholars have focused on compliance—whether disclosure incentivizes honest reporting of income, and if it …