Economics Commons^™

On Financial Quotient: Theory And Empirical Analysis, Gang Sun

Dissertations and Theses Collection (Open Access)

Financial Quotient (FQ) has become a common topic of concern in the global academic, business and social communities, but at this stage, academic research on FQ and its education are still immature, theoretical depth and empirical support basis are shortage, and influence factors of FQ and the degree of influence of each factor have not been systematically studied. Therefore, there is a large gap between research and practice.

The purpose of this Paper is to construct a set of scientific and reasonable FQ index for individuals, to find factors that can influence or predict personal financial quotient (PFQ), and to …

The Impact Of Mother's Bargaining Power On The Nutritional Status Of Children In Indonesia, Ahmad Yeyen Fidyani, Arief Anshori Yusuf

Economics and Finance in Indonesia

Poor nutritional status, especially during childhood, has a negative impact on one's early life as well as throughout their life. One of the factors that influences the improvement of children's nutritional status is the bargaining power of the mother. Previous studies have limitations in that they often use cross-sectional data and indirect approaches to measuring bargaining power. This study aims to measure the impact of maternal bargaining power on children's nutritional status in Indonesia. The unit of analysis is children aged 7 - 19 years (IFLS5) who still have and live with their parents (IFLS4). Using the OLS estimation method, …

Real Estate And Relative Risk Aversion With Generalized Recursive Preferences, Sungjun Huh, Insu Kim

Economics Faculty Research and Publications

This paper investigates how real estate wealth affects the household’s attitude toward risk, and derives the closed-form expressions for risk aversion with generalized recursive preferences. We find three channels through which real estate wealth affects risk aversion, and these channels are absent in the traditional measure of relative risk aversion as in Arrow (1965) and Pratt (1964). First, illiquidity and fluctuations in real estate value increase consumption risk, thereby increasing risk aversion. Second, real estate as an asset provides a cushion for absorbing negative shocks to households, reducing risk aversion. Third, an increase in real estate prices lowers the profit …

Incorporating Beliefs And Experiences Into Choice Experiment Analysis: Implications For The National Park Service, Sahan T. Dissanayake, Andrew G. Meyer

Economics Faculty Research and Publications

We show that respondents' beliefs about future outcomes and prior recreational experiences affect policy recommendations from choice experiments. For New England residents, we find that willingness to pay for a new national park in Maine differs based on respondents' stated beliefs about the status quo long-term land use. We also find that respondents who do (do not) hunt or snowmobile would pay significantly more (less) for a park allowing these activities. Land managers may find a two-park solution (one allowing the activities and one prohibiting them) would be best; this insight would be missed when neglecting to model conflicting recreational …

Did Covid Benefit Or Harm Horse Racing Wagering? A Comparison Of Trends, Thomas E. Lambert

Faculty and Staff Scholarship

Different media accounts during the recent Covid-19 pandemic have mentioned an upswing in horse racing gambling thanks to a decline in other forms of wagering at casinos and with sports gambling. This paper examines gambling trends across the US before and during the pandemic for these forms in gambling as well as lotteries. Horse racing wagering did see an increase, but not as dramatically as one would expect.

Sports Gaming, Casinos, And Horse Racing In New Jersey: The Record Before And During The Covid-19 Pandemic, Thomas E. Lambert

Faculty and Staff Scholarship

New Jersey was the first state to legalize sports gaming outside of Nevada after a landmark US Supreme Court decision in May 2018 struck down a federal law banning sports gambling in all other states and the District of Columbia (Liptak and Draper 2018). Some race tracks such as Monmouth Park race track began offering sports gambling as a way to bring back fans to parimutuel wagering which had been and still is in decline for several decades at tracks throughout the nation (Associated Press 2019). This brief paper examines trends in New Jersey on how sports gambling has grown …

Occupational Licensing And Intra-Msa Effects: Massage Therapists In The Us, Noah J. Trudeau

Economics Faculty Working Papers Series

Occupational licensing has been shown to have many pervasive economic effects. Licensing restricts competition, which causes wage premiums, potentially induces rent seeking, and ultimately results in consumers having to pay high prices through both channels of reduced supply and producers passing on increased cost of doing business.

Licensing laws are passed at the state level; and thus, there can be considerable variation across states. Should there be much economic activity at state borders, this would be inconsequential. Yet, the existence of metropolitan areas spanning state borders begs the question of what effects can restricting competition be when competitive substitutes are …

(Wp 2021-05) Heterogeneity In Individual Expectations, Sentiment, And Constant-Gain Learning, Stephen J. Cole, Fabio Milani

Economics Working Papers

This paper uses adaptive learning to understand the heterogeneity of individual-level expectations. We exploit individual Survey of Professional Forecasters data on output and inflation forecasts. We endow all forecasters with the same information set that they would have as economic agents in a benchmark New Keynesian model. Forecasters are, however, allowed to differ in the constant gain values that they use to update their beliefs and in their sentiments. The latter are defined as the degrees of excess optimism or pessimism about the economy that cannot be justified by the learning model. Our results highlight the heterogeneity in the gain …

Three Essays On Spatial Econometrics: The Matrix Exponential Spatial Specification, Ye Yang

Dissertations, Theses, and Capstone Projects

This thesis consists of three essays on the matrix exponential spatial specification. In the first essay, we study the generalized method of moments (GMM) estimation of matrix exponential spatial specification(p,q) (MESS(p,q)). We extend the model to a general higher order case and derive its GMM estimator. The large sample properties are also studied. Under homoskedasticity a best GMM estimator (BGMME) is derived and shown to be consistent and asymptotically normal. Under heteroskedasticity an optimal GMM estimator (OGMME) is derived and shown to be consistent and asymptotically normal as well. Monte Carlo experiments that discuss the large sample properties of quasi-maximum …

The Economics Of Giving: How Monetary Policy Impacts Charitable Giving, Asa J. F. Cort

Doctoral Dissertations (DBA)

This paper examines the impact of the monetary policy transmission mechanism specifically the Loan Supply (Narrow Credit Channel), Market Interest Rates (Interest Rate Channel) and Asset Price Levels (Wealth Channel) have on charitable giving within the United States. An OLS (Ordinary Least Squares) model is used to test whether the variables within each channel influences charitable giving. We find that each variable used (revolving credit, real estate loans, federal funds rate, inflation, real disposable income and housing prices) is statistically significant in influencing charitable giving within the United States.

Classical Theory Of Competitive Market Price Formation, Sabiou M. Inoua, Vernon L. Smith

ESI Working Papers

We offer an information theory of market price formation, formalizing and elaborating on an old, implicit, classical tradition of supply and demand based on buyers’ and sellers’ mone-tary valuations of commodities (formally their reservation prices) and competition as a multilat-eral higgling and bargaining process. The early laboratory market experiments, as it turns out with hindsight, established the remarkable stability, efficiency, and robustness of the old view of competitive price discovery, and not the neoclassical price theory (based on individual utility and profit maximization for given prices). Herein, we present a partial-equilibrium version of the the-ory in which wealth is implicitly …

Analysis Of Demand Under Time And Quantity Restriction Frames, Haily K. Traxler

Dissertations

For decades, behavioral economists and behavior analysts have borrowed techniques from one another to investigate human decision making. While there has been little overlap in their work, the union of the two may help to answer important questions about behavior. An emerging behavioral economic topic of interest in the behavior analytic literature is the analysis of how framing affects demand. The purpose of the present studies is to investigate some conditions under which demand is affected by framing and provide a behavior analytic interpretation of those effects. To assess the effects of framing, demand for marketplace items was assessed under …

The Insertion Of Syrian Refugees In The Egyptian Labor Market: With Special Focus On Food And Restaurants Sector, Mai Ali Hassan

Theses and Dissertations

This thesis is about the insertion of Syrian refugees in the Egyptian labor market. It specifically focuses on this insertion in the food and restaurants sector. It reviews the theoretical literature that tackled the economic integration of refugees and asylum seekers. It also examines the legal framework governing refugees in Egypt as well as the legal apparatus provisions related to their employment. Both are factors determining the access of refugees to the Egyptian labor market. The thesis finds that other economic and social factors also determine and facilitate the access of Syrian refugees to the Egyptian labor market. In the …

The Analysis Of Japanese Consumers’ Purchasing Behaviour Towards Single-Use Plastic Packaging., Yui Setojima

Business ETD Collections

In recent years, the concept of sustainability has been put into the spotlight due to greater concern of environmental issues. Plastic pollution is one of serious sustainability issues which governments are rushing into making new regulations to deal with. The Japanese government is struggling to manage Japan’s heavy use of plastics and Japanese organizations are being asked to take positive actions towards reducing the use of plastic through media coverage and public pressure. However, plastic pollution requires huge efforts not only from governments but also organizations, whether large or small, and all individuals on Earth. This research aims to investigate …

Competitive Information Disclosure In Random Search Markets, Wei He, Jiangtao Li

Research Collection School Of Economics

We analyze the role of competition in information provision in random search markets. Multiple symmetric senders compete for the receiver’s investment by disclosing information about their respective project qualities, and the receiver conducts random search to learn about the qualities of the projects. We show that in any symmetric Nash equilibrium, each sender chooses a strategy with the lowest possible reservation value. The receiver does not benefit from the competition of the senders, as the receiver’s expected payoff does not change when the number of senders increases.

Japanese Monetary Policy And Its Impact On Stock Market Implied Volatility During Pleasant And Unpleasant Weather, Marinela Adriana Finta

Research Collection Lee Kong Chian School Of Business

We investigate the effect of Japan's Monetary Policy Meeting releases on the intraday dynamics of the Nikkei Stock Average Volatility Index and its futures during pleasant and unpleasant weather. We show that at the time of a monetary policy release when the temperature is pleasant, there is a significant decline in Japanese equities' implied volatility and futures, which lasts for about 10 min and 5 min, respectively. This decline is longer and exhibits a greater variation when releases occur during cold days. Finally, we emphasize the achievable economic profits and losses, given the reaction of Nikkei VI futures to the …

Happy Lottery Winners And Lottery-Ticket Bias, Seonghoon Kim, Andrew J. Oswald

Research Collection School Of Economics

The world spends a remarkable $250 billion a year on lottery tickets. Yet, perplexingly, it has proved difficult for social scientists to show that lottery windfalls actually make people happier. This is the famous and still unresolved paradox due initially to Brickman and colleagues. Here we describe an underlying weakness that has affected the research area, and explain the concept of lottery‐ticket bias (LT bias), which stems from unobservable lottery spending. We then collect new data—in the world’s most intense lottery‐playing nation, Singapore—on the amount that people spend on lottery tickets (n = 5626). We demonstrate that, once we correct …

High-Frequency Internet Survey Of A Probability Sample Of Older Singaporeans: The Singapore Life Panel, Rhema Vaithianathan, Bryce Hool, Michael D. Hurd, Susann Rohwedder

Research Collection School Of Economics

Facing a rapidly ageing population, Singapore is presented with urgent policy challenges. Yet there is very little data on the economic, health and family circumstances of older Singaporeans. In response, the Centre for Research on the Economics of Ageing (CREA) at Singapore Management University has been collecting monthly data on a panel of Singaporeans aged between 50 and 70 years. We detail the methodology by which the Singapore Life Panel® (SLP) was constructed using a population-representative sampling frame from the Singapore Department of Statistics. Contact was made with 25,000 households through postal, phone and in-person canvassing. More than 15,200 respondents …

The Downfall Of Transmar Cocoa, Ryan Fuez, Joseph Montoya

Applied Economics Student Research

As a large cocoa bean trader, Transmar group ltd. bought millions of dollars’ worth of beans relying on financing from a syndicate of banks. To monitor amounts of eligible collateral, the banks required Transmar prepare periodic borrowing base (BB) reports. At some point, Transmar developed a discrepancy in collateral recorded on the BB report versus the amount of funds borrowed. The case discusses how this discrepancy grew larger as many questionable and fraudulent entries were included on subsequent BB reports. The case is written from the perspective of Peter B. Johnson, head of Transmar’s European affiliate and son of CEO …

Waqf On Education: A Bibliometric Review Based On Scopus, Aam Slamet Rusydiana, Raditya Sukmana, Nisful Laila

Library Philosophy and Practice (e-journal)

This study tries to review research about waqf on education in Scopus indexed journals. This analysis uses descriptive statistical analysis based on 56 articles or selected papers related to waqf on education from reputable journals. All samples of publication journals have been published for 25 years, from 1995 to 2020. The export data is then processed and analyzed using the VOSviewer application program to determine the bibliometric map of waqf on education research development. The results of this bibliometric mapping study show a map of the development of research in the field of waqf on education. The most popular authors …

Regression-Adjusted Estimation Of Quantile Treatment Effects Under Covariate-Adaptive Randomizations, Liang Jiang, Peter C. B. Phillips, Yubo Tao, Yichong Zhang

Cowles Foundation Discussion Papers

This paper examines regression-adjusted estimation and inference of unconditional quantile treatment effects (QTEs) under covariate-adaptive randomizations (CARs). Datasets from field experiments usually contain extra baseline covariates in addition to the strata indicators. We propose to incorporate these extra covariates via auxiliary regressions in the estimation and inference of unconditional QTEs. We establish the consistency, limit distribution, and validity of the multiplier bootstrap of the QTE estimator under CARs. The auxiliary regression may be estimated parametrically, nonparametrically, or via regularization when the data are high-dimensional. Even when the auxiliary regression is misspecified, the proposed bootstrap inferential procedure still achieves the nominal …

Village Work : Development And Rural Statecraft In Twentieth-Century Ghana, Alice Wiemers

Ohio University Press Open Access Books

A robust historical case study that demonstrates how village development became central to the rhetoric and practice of statecraft in rural Ghana

Combining oral histories with decades of archival material, Village Work formulates a sweeping history of twentieth-century statecraft that centers on the daily work of rural people, local officials, and family networks, rather than on the national governments and large-scale plans that often dominate development stories. Wiemers shows that developmentalism was not simply created by governments and imposed on the governed; instead, it was jointly constructed through interactions between them.

The book contributes to the historiographies of development and …

Greater Wheeling Regional Plan: Economic Profile, Eric Bowen, Christiadi, Brian Lego, Cody Adams

Bureau of Business & Economic Research

The Greater Wheeling region, defined in this report as consisting of Brooke, Hancock, Marshall and Ohio counties in West Virginia, and Belmont, Jefferson, and Monroe counties in Ohio, has experienced a volatile economy over the past decade with significant swings in employment across multiple sectors.

In this report, we make a detailed examination of the recent economic indicators in the Greater Wheeling region. This report is part of a series from West Virginia University researchers at the Bureau of Business and Economic Research and the WVU Extension Service that evaluate the Wheeling Metropolitan Area’ economy with the goal of providing …

Greater Wheeling Regional Plan: Workforce And Education Assessment, Christiadi, Eric Bowen

Bureau of Business & Economic Research

Human capital is a crucial element of any regional economic growth plan, as companies looking to locate or grow in a region require a skilled workforce to meet the demands of their businesses. In this report, we examine human capital in the Wheeling Metropolitan Statistical Area, focusing on occupational and educational requirements to support the region’s growth over the next five years.

Greater Wheeling Regional Plan: Action Plan For Economic Development, Michael J. Dougherty, Eric Bowen, Christiadi

Bureau of Business & Economic Research

The Wheeling Region has a long and rich history. However, the passage of time and the change that it has brought has not always been beneficial to the region. As a result, leaders in the region have begun a process to reevaluate and reinvent the Wheeling area and improve the regional economy. In this report, we discuss these strategies and recommend actions to further the Wheeling region’s economic development.

Greater Wheeling Regional Plan: Industrial Cluster Analysis, Eric Bowen

Bureau of Business & Economic Research

One of the most prominent strategies followed by economic development officials is to identify what the region already does well and work to enhance these strengths. Improving on a region’s competitive advantage has been the focus of Porter’s work on economic clusters, which he defines as network of companies that forms within a geographic location based on supplier relationships. In this report, we identify the industry clusters that are present in the Wheeling Metropolitan Statistical Area (MSA) and provide tools to assess the most promising clusters for economic development targeting. This type of cluster analysis has become an increasingly important …

Greater Wheeling Regional Plan: Survey Results, Michael J. Dougherty, Cody Adams

Bureau of Business & Economic Research

The Wheeling Area Strategic Plan included a process for public involvement. Originally, it was to have involved holding open forums and in-person stakeholder meetings. The sessions had been scheduled for early Spring, but they were delayed and eventually cancelled because of the COVID-19 pandemic. Instead, we conducted a web-based survey to gather ideas and opinions from people from across the region.

Entitled To Property: Inheritance Laws, Female Bargaining Power, And Child Health In India, Plamen Nikolov, Shahadath Hossain

Economics Faculty Scholarship

Child height is a significant predictor of human capital and economic status throughout adulthood. Moreover, non-unitary household models of family behavior posit that an increase in women’s bargaining power can influence child health. We study the effects of an inheritance policy change, the Hindu Succession Act (HSA), which conferred enhanced inheritance rights to unmarried women in rural India, on child height. We find robust evidence that the HSA improved the height and weight of children. In addition, we find evidence consistent with a channel that the policy improved the women’s intrahousehold bargaining power within the household, leading to improved parental …

Systemic Racism In The United States, Ari Emilia Short

Libraries

This bibliography contains an annotated selection of articles and studies related to systemic racism in the United States of America, covering 21st-century racial inequities in criminal justice, housing, employment, voting, education, and healthcare. Given the contentious nature of this topic - whether and to what extent systemic racism exists in the United States - sources were selected for relative neutrality, authority, and quality of methodologies used. This piece is intended to assist leaders, educators, activists, and any who wish to become better informed about this topic, develop empathy toward impacted groups, and prepare to address institutional concerns related to diversity, …

Gender Differences In Risk, Social, And Competitive Preference. Experimental Evidence From Uzbekistan., Firuzjon Khayrulloev

Master's Theses

Most of the previous literature suggests that women are less competitive than men. However, I we hypothesize that women are as competitive as man when the incentive for winning equally matter for both genders. The option to share some of their winnings with other competitors may afford females benefit from rewards without suffering some of its potential costs. In this paper we conducted an experiment on 212 subjects and the results support our hypothesis. The gap in competitiveness between males and females vanishes when we allowed winners an opportunity to share some of their winnings. Overall, our work demonstrates that …