Economics Commons^™

Price Coordination Under List Pricing And Discounting: Experimental Evidence, Roberto Hernán González, Praveen Kujal, Miguel Angel Ropero-García, Román Fossati

ESI Working Papers

List-pricing and discounting is common in both retail and wholesale markets. Its interpretation amongst competition authorities varies from being procompetitive to collusion facilitating. We experimentally test how list pricing and discounting impact prices in a capacity constrained Bertrand-Edgeworth duopoly with symmetric and asymmetric firms facing constant marginal costs. We find that, relative to the symmetric baseline experiments, list pricing and discounting generate higher equilibrium prices for (symmetric) firms. Prices in the asymmetric-list price duopoly are also higher, however, the effect is much smaller than under symmetry. The introduction of asymmetry results in higher prices. The smaller firms gain more from …

Preferences Or Confounders? Persistent Gender Gap In Competition Across Four Continents, Natalia I. Valdez-Gonzalez, Adriana Gaviria, Antonio M. Espin

ESI Working Papers

The gender gap in willingness to compete is thought to underlie enduring inequalities in education, career choice, and labor market outcomes. Yet it remains unclear whether the gap reflects true preference differences or results from confounding factors such as task stereotypes, overconfidence, or risk aversion. We test gender differences in competition entry across eight pre-registered studies in seven countries spanning four continents (Dominican Republic, Ivory Coast, El Salvador, Madagascar, Spain, The Philippines, and Uruguay; total n = 1,833), using an experimental design that systematically minimizes these confounds: (i) based on a non-male-stereotyped task (the Reading the Mind in the Eyes …

Pension Participation Among Different Migrant Groups In China: Job Type, Regional Disparities, And Cross-Provincial Mobility, Boxia Xu

Dissertations

As China undergoes rapid economic transformation and urbanization, the migrant population has grown significantly. Although migrants play essential roles in the labor market, they face persistent structural barriers to pension access. Regional disparities, occupational segmentation, and cross-provincial mobility constraints affect the probability of their pension participation. While policy efforts aim to expand coverage, the fragmented nature of China’s pension system continues to hinder equitable access for migrants. As a result, ensuring pension participation among migrant groups remains a pressing challenge.

Using data from the 2014 China Migrants Dynamic Survey (CMDS), this dissertation employs logistic regression models to investigate how job …

Do Government Benefit Programs Reduce Child Labor?: Causal Evidence From The Midday Meal Scheme In India, Vardaan Chawla, Tomoki Fujii, Arpita Khanna, Ray Rohan

Research Collection School Of Economics

This study evaluates the impact of the midday meal program in India on the prevalence of child labor for upper primary school going children. The staggered implementation of the largest school feeding program in the world across states provides exogenous variation in exposure. Using the nationally representative National Sample Survey Office (NSSO) data, we find that exposure to the program reduced prevalence of child labor by 47 percent relative to children in never-treated states, with no significant difference in impact between boys and girls. The effects were primarily driven by a decline in household labor supply, especially performance of household …

The Pricing Of Green Bonds And The Determinants Of The Green Bond Premium In The Asia-Pacific And European Markets, Parath Wongaree, Chiyachantana N. Chiraphol, Kuan Yong David Ding, Pattarawan Prasarnphanich, Wasin Siwasarit

Research Collection Lee Kong Chian School Of Business

This study examines the sources of capital for sustainable development and investigates the existence of a green bond premium in both primary and secondary bond markets across the Asia-Pacific and European regions. Utilizing the robust Coarsened Exact Matching (CEM) method in conjunction with the Synthetic Minority Oversampling Technique (SMOTE), our analysis reveals a significant disparity in yields between green bonds and conventional bonds within the Asia-Pacific markets, indicating the existence of a green bond premium. In contrast, this distinction is not observed in Europe. These findings suggest that investors in the Asia-Pacific region display a willingness to accept lower yields …

Efficient Bilateral Trade With Interdependent Values: The Use Of Two-Stage Mechanisms, Takashi Kunimoto, Cuiling Zhang

Research Collection School Of Economics

Efficient, voluntary bilateral trades are generally not implementable in an interdependent values environment with two-sided asymmetric information. To obtain more positive results, we consider two-stage mechanisms in which (i) the outcome (e.g., allocation of the goods) is determined first; (ii) the agents partially learn the state via their own outcome-decision payoffs; and (iii) transfers are finally made. We propose the approximate shoot-the-liar (AS) mechanism and identify Assumption 1, under which “approximately” efficient, voluntary trades are implementable. We further illustrate the permissiveness of the assumption, and characterize it in terms of the nature of interdependence in valuation functions—delineating the boundary between …

From Neural Networks To Large Language Models: Innovations In Financial Ai, Mathematical Reasoning, And Structured Data Representation, Junyi Ye

Dissertations

This dissertation explores the evolution and application of artificial intelligence techniques across three critical domains: financial modeling, mathematical reasoning, and structured data analysis. The dissertation presents seven research projects that chart a progression from specialized neural architectures to sophisticated large language models (LLMs), contributing novel methodologies and frameworks at each stage.

In the financial domain, the research first introduces TS-Mixer, a MLP-based architecture for time-series forecasting that captures both feature relationships and temporal dependencies through a simple yet effective design, outperforming more complex models in S&P500 index prediction. The dissertation then presents DySTAGE, a dynamic graph representation learning framework that …

Terrashift, Mill Jignesh Shah, Mill Shah

Masters Theses

Keywords: Adaptive Reuse, Vernacular Craftsmanship, Food Security, Urban Agriculture, Community Revitalization, Heritage Preservation, Regenerative Design

In India’s rapidly urbanizing landscape, Tier-I cities continue to dominate as aspirational centers, leaving smaller towns to face depopulation, economic drift, and cultural amnesia. Terrashift challenges this imbalance by proposing a regenerative model that reclaims the vitality of Tier-II and Tier-III towns through the layered strategies of adaptive reuse, vernacular craftsmanship, and integrated food systems.

Centered in Sidhpur, Gujarat—a town rich with Bohra Muslim architectural heritage and centuries of Hindu-Muslim cultural synthesis—this project envisions the transformation of abandoned havelis into vibrant community anchors. These spaces, …

Home Values Vs. Homelessness In Mountain West Metros, 2023, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet presents data from Home Values vs. Homelessness in the U.S.: A Concerning Connection (2023 Data), a report by Home Bay. The data includes information on both home values and homelessness rates while also providing national rankings for rent price and homeless rate, which are used here to compare the following Mountain West metros: Las Vegas, NV; Denver, CO; Salt Lake City, UT; and Phoenix, AZ.

Determinants Of Integration: Migration Difficulty, Mental Health, And Social Connections Among Eritrean Immigrants, Shewit Woldemichael

Master's Theses

This thesis explores how the experience of migration hardship affects integration outcomes of Eritrean migrants in the U.S. and the Netherlands. Using original survey data and the Immigration Policy Lab’s Integration Index (IPL-24), this paper investigated the intersection of economic, psychological, and social interactions that facilitate integration outcomes. This research finds that migration hardship doesn’t just make people’s lives more difficult; it breaks down the social ties and mental well-being that are essential for economic success measured by integration.

Bruni And Sugden On Market Virtues, Luís C. Calderón Gómez, Robert Talisse, John A. Weymark

Articles

According to classical liberalism, markets are instruments for the mutually advantageous voluntary exchange of goods and services among individuals who have conflicting interests. Some critics have used a virtue ethics understanding of behavior in markets to call for moral limits to markets because this classical view does not respect the internal value of human practices and the intrinsic motivations of individuals. In response, Luigino Bruni and Robert Sugden have offered a virtue ethics defense of markets, thereby “reclaiming virtue ethics for economics.” We argue that their account needs further elaboration and clarification before it is possible to assess the soundness …

Integrating A Stakeholder-Centric Approach Into Dynamic Adaptation Policy Pathways For Equitable Coastal Flood Risk Management In East Boston, Shailee M. Desai

Graduate Doctoral Dissertations

This research aims to illustrate a methodology incorporating diverse stakeholder values in adaptation planning to promote equitable outcomes using a hypothetical case study of the Lower Border Street area in East Boston, using the Dynamic Adaptive Policy Pathways (DAPP) framework for managing coastal flood risk. It offers three significant contributions to the field of adaptation planning: (i) It demonstrates how to integrate a stakeholder-specific assessment within the DAPP framework and illustrates individual impacts to a variety of stakeholders, including high- and low-income residents, commercial actors, government actors, and coastal landowners hoping that the planning process remains transparent and motivates local …

Power And Progress, Our Thousand-Year Struggle Over Technology And Prosperity, Jay Nathan

Journal of Global Awareness

No abstract provided.

Jeepney Modernization Program: Agencies And Constraints Of Informal Transport Sector In Cebu City, Philippines, Katrina Lerma A. Rapada, Herald Shalom R. Vallente, Giena Marie U. Canoy

Journal of Global Awareness

In the quest to provide a better public transportation system in the Philippines, the government has implemented Department Order 2017-011, the major basis for the Public Utility Vehicle Modernization Program, which requires single jeepney operators to join transport cooperatives and limits jeepneys not older than 15 years to operate. However, up to the present, this policy initiative has yet to improve Cebu City's public transport system significantly, and it has already created various forms of exclusion. Anchored on Mayer’s (2014) theory on the problems of collective action and Mosca’s (1939) elite theory, this study assesses the collective agencies of jeepney …

College Degree Attainment In The Mountain West, 2010-2020, Isabelle G. Graham, Caitlin J. Saladino, William E. Brown Jr.

Higher Education

This fact sheet presents data on the gaps in college degree attainment in the Mountain West states of Arizona, Colorado, Nevada, New Mexico, and Utah. The data appear in “Learning and Earning by Degrees: Gains in College Degree Attainment Have Enriched the Nation and Every State, but Racial and Gender Inequality Persists,” report published by the Georgetown University Center on Education and the Workforce (CEW), a research and policy institute within Georgetown University that focuses on the connections between education, career qualifications, and workforce demands.

The Digital Economy And Equitable Access To Jobs In The Mountain West, 2023, Isabelle G. Graham, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents data from a Brookings Institution report, “The future of the US digital economy depends on equitable access to jobs,” which compares the share of 2023 employment in highly digital jobs among women and minority groups for select U.S. metropolitan statistical areas (MSAs). This fact sheet reports data for nine Mountain West MSAs: Las Vegas-Henderson-Paradise, NV; Albuquerque, NM; Colorado Springs, CO; Denver-Aurora- Lakewood, CO; Tucson, AZ; Phoenix-Mesa-Chandler, AZ; Salt Lake City, UT; Provo-Orem, UT; and Ogden- Clearfield, UT.

South Carolina And The Blue Ridge Rail Road, 1852 To 1873: Dreams Of Linking The South And West, Steve E. Gibson

Doctoral Dissertations and Projects

While the 1850s were productive and railroading did innovate with the initial adoption of steel, the embrace of the telegraph, the use of coal as a fuel, and the opening of generally long railroads, particularly in South Carolina, the railroads themselves generally remained conservative (almost timid) in their business models and strategic thinking. This was especially true in the South. Northern railroads recognized the need to connect major cities, connect seaports with crop productive hinterlands, and generally understood that railroad mobility, mixed economic development, and prosperity were intertwined and mutually reinforcing with the prosperity of both the railroad and the …

Cost-Effective Solutions For High-Throughput Enzymatic Dna Methylation Sequencing, Amy Longtin, Marina M. Watowich, Baptiste Sadoughi, Rachel M. Petersen, Sarah F. Brosnan, Kenneth Buetow, Qiuyin Cai, Cayo Biobank Research Unit, Vanderbilt University, Michael D. Gurven, James P. Higham, Heather M. Highland, Yi-Ting Huang, Hillard Kaplan, Thomas S. Kraft, Yvonne A. L. Lim, Jirong Long, Amanda D. Melin, Michael J. Montagne, Jamie Roberson, Kee Seong Ng, Michael L. Platt, India A. Schneider-Crease, Jonathan Stieglitz, Benjamin C. Trumble, Vivek Venkataraman, Ian J. Wallace, Jie Wu, Noah Snyder-Mackler, Angela Jones, Alexander G. Bick, Amanda J. Lea

ESI Publications

Characterizing DNA methylation patterns is important for addressing key questions in evolutionary biology, development, geroscience, and medical genomics. While costs are decreasing, whole-genome DNA methylation profiling remains prohibitively expensive for most population-scale studies, creating a need for cost-effective, reduced representation approaches (i.e., assays that rely on microarrays, enzyme digests, or sequence capture to target a subset of the genome). Most common whole genome and reduced representation techniques rely on bisulfite conversion, which can damage DNA resulting in DNA loss and sequencing biases. Enzymatic methyl sequencing (EM-seq) was recently proposed to overcome these issues, but thorough benchmarking of EM-seq combined with …

Essays In Empirical Asset Pricing, Jiaen Li

Olin Business School Graduate Student Theses and Dissertations

My dissertation explores two broad questions. First, what is the role of intangible forces like ideological narratives in belief formation and asset prices? Second, how can we understand the systematic components in asset pricing? In Chapter 1, using cryptocurrencies as a laboratory, I examine the role of ideological narratives in asset prices—an area remains underexplored. Leveraging social media data and large language models to measure ideology dynamics, I find that fluctuations in two ideological narratives—anarchism and decentralization—are priced in the cross-section of cryptocurrency returns. Consistent with the view that factors proxy for state variables, ideology factors contain distinct information about …

Essays In Corporate Governance And Financial Intermediation, Renping Li

Olin Business School Graduate Student Theses and Dissertations

Antitrust regulations in banking have historically targeted commercial banking activities. In the first chapter, I ask does the consolidation of investment banks have competitive effects? Using the geographically fragmented municipal bond underwriting market as a natural laboratory and employing a stacked difference-in-differences specification, I find that the underwriting spread increases by 4.8% of its sample mean following within-market consolidation. The effects double for larger M&As or in more concentrated markets and do not dissipate over time. These M&As do not generate efficiency gains that manifest as lower bond yields or substitution of other issuer-paid services. The findings remain robust when …

General Education Assessment Report Form: Basic Macroeconomics, Oguzhan Batmaz

May Institute

No abstract provided.

Explaining The Satisfaction Of The Religious Tourist: The Case Of Maimonides In The City Of Cordoba, César Mora Márquez, Angelo Puccia

International Journal of Religious Tourism and Pilgrimage

Tourism was one of the most severely affected sectors by the Covid-19 pandemic. Even religious tourism, traditionally less susceptible to market fluctuations, is now compelled to adopt innovative strategies in response to these effects. This article analyses the satisfaction of religious tourism, specifically its relationship with the figure of Maimonides, who is considered to be an important religious thinker and is included within the Pantheon database of the Massachusetts Institute of Technology (MIT). A questionnaire was distributed and completed by 720 tourists in the city of Cordoba, Spain, which has close links to Maimonides. The findings indicated that the spirituality …

Intergenerational Mobility In Ottoman Istanbul: Evidence From Court Records, Metin M. Coşgel, José-Antonio Espín-Sánchez, Emre Özer

Discussion Papers

We use data from the Istanbul court registers spanning from the 16th -19th centuries to establish, for the first time, long-term trends in intergenerational mobility in a major premodern city. The dataset contains information on over 270,000 individuals who appeared in court in various roles, including litigants, witnesses, and representatives. Crucially, it records the honorific titles (if any) of individuals and their fathers, which we use as measures for socioeconomic status. Our goal is to trace long-term changes in Istanbul’s social structure, analyze the relationship between fathers’ and sons’ titles to assess shifts in intergenerational mobility, and determine whether these …

Tulsa Remote’S Benefits For Other Tulsa Residents: Results And Implications, Timothy J. Bartik

Presentations

No abstract provided.

The Effects Of Tulsa Remote On Inducing Moves To Tulsa: Estimates And Implications, Timothy J. Bartik

Upjohn Institute Technical Reports

Tulsa Remote is one of the largest of over 100 remote worker attraction programs in the United States. Since its beginning in 2018, the program has provided generous incentives ($10,000 for moving to Tulsa and staying one year), along with accompanying networking services and incentives to encourage entrepreneurship, to over 3,000 Tulsa Remote member households, selected out of tens of thousands of applicants. Tulsa Remote’s purpose is to promote economic development in Tulsa. Tulsa Remote members spend more locally and generate fiscal benefits, as well as start up businesses and help make Tulsa more attractive for high-tech job growth. These …

The Price Of Intelligence: How Should Socially-Minded Firms Price And Deploy Ai?, Nils H. Lehr, Pascual Restrepo

Cowles Foundation Discussion Papers

Leading AI firms claim to prioritize social welfare. How should firms with a social mandate price and deploy AI? We derive pricing formulas that depart from profit maximization by incorporating incentives to enhance welfare and reduce labor disruptions. Using US data, we evaluate several scenarios. A welfarist firm that values both profit and welfare should price closer to marginal cost, as efficiency gains outweigh distributional concerns. A conservative firm focused on labormarket stability should price above the profit-maximizing level in the short run, especially when its AI may displace low-income workers. Overall, socially minded firms face a trade-off between expanding …

Does A Star Player’S Jewelry Matter? An Analysis Of Nba Real Team Value, Brandon C. Penticoff

Undergraduate Economics Working Paper Series

This study dives into the financial and sport factors that impact team market value and revenue. This study's results confirm that star players significantly enhance team value, with NBA Superstars adding nearly $500 million annually. This study discovered the prominence of a Principal-Agent Problem between star players and NBA front offices over the issue of championship pursuit. The analysis also identifies an optimal style of play for revenue generation, but that could oppose longer-term team value. These findings have critical implications for NBA front offices, owners, and coaching staffs.

Hospitality Operators And Cannabis Tourism In The South: Insights On Policy & Regulations, Nick E. Johnston, Kelly Way, Chloe Tyner, Betsy Garrison

ICHRIE Research Reports

Cannabis tourism offers new opportunities for U.S. hospitality, although regional adoption is limited and complex due to diverse legal frameworks. Through qualitative document analysis (QDA) of regulatory frameworks in 14 Southern U.S. states, this study compares policies on consumption, sales, and employment in states with limited or emerging cannabis programs. Findings reveal that hospitality operators can enhance guest experiences by creating private, wellness-focused cannabis environments and advocating for gradual policy adjustments. However, compliance with strict consumption, licensing, and workplace rules is essential to mitigate legal risks. This study highlights the South's cannabis tourism potential within politically conservative markets, suggesting that …

Goodness Of Fit Tests In Spatial Autoregressive Stochastic Frontier Models, Ming-Yu Deng, Yue Fu, Levent Kutlu, Minxian Wang

School of Economics and Finance Faculty Publications

This article mainly considers goodness of fit tests for the inefficiency in spatial autoregressive stochastic frontier (SARSF) models by utilizing the characteristic function of the centralized composite error term. As a prerequisite of the tests, we propose easy-to-compute moment estimators for distributional parameters of such a term, showing the consistency based on spatial near-epoch dependent properties. Meanwhile, the asymptotic distribution of the estimators is derived by generalizing the central limit theorem (CLT) in Kelejian and Prucha (Citation2001) from linear-quadratic forms to polynomial-trigonometric forms. Then, the cosine and sine tests, being simple to implement in SARSF analysis, are established …

"Artificial Intelligence And Economic Development In Ghana: Assessing The Role Of Government Policy And Regulation", Sebastian Sharma

Senior Theses

Artificial intelligence (AI) is rapidly transforming economies worldwide, with profound implications for economic development in the Global South. Various questions arise regarding whether these changes will positively or negatively impact the economy and individuals worldwide. In this thesis, I examine how Ghana has implemented AI and utilized it to generate economic growth for all members of its society. I argue that through government regulation and framework Ghana was able to maximize the benefits AI has to offer while also minimizing the various risks it may bring. Ghana is a perfect example of how a country in the Global South despite …