Behavioral Economics Commons^™

The Hypocrisy Of The Wizards—A Proposal To Correct Incentives In Higher Education Loan Financing, Caden Benedict

School of Public Policy Capstones

This paper explores the origins of the student loan debt crisis and proposes tying university incentives to graduates' repayment plans and disclosing median earnings for degrees before students apply. Specifically, while there are numerous factors explaining why the price of education has increased dramatically since the 1970s, this paper proposes solutions that will specifically target university moral hazards by requiring universities fund: (1) the current subsidies to federal student loan repayments under income-driven plans as the House of Representatives intended before the Senate removed "risk-sharing," and (2) bankruptcy law discharge amounts. Moreover, requiring universities to disclose the median earnings of …

Gender Norms, Socio-Organizational Ergonomics, And Female Labor Force Participation In South Asia, Huma Maqsood, Nor Fatimah Che Sulaiman, Suriyani Muhamad, Nor Aizal Akmal Binti Rohaizad, Sana Mukhtar

The Qualitative Report

Socio-organizational ergonomics encompasses workplace social and cultural factors that influence inclusion, performance, and well-being. Gender-based socio-organizational ergonomics has both microeconomic and macroeconomic implications. In this context, underutilization of women’s economic potential, evidenced by low female labor force participation, emerges as a critical factor that compromises sustainable growth in developing countries. To study the phenomenon, we examined the impact of gender norms on socio-organizational ergonomics and female labor force participation in South Asia. Qualitative data from in-depth interviews with 20 female participants are thematically analyzed using Braun and Clarke’s TA framework. Our findings highlight that socio-organizational ergonomics in South Asia is …

The Writing On The Wall: The Rise Of Applied Ai And The Life-Or-Death Choice Every Ceo Must Make Now, Gary Sheng, Ron Roberts

Digital Laboratory: Publisher of Internet Journal

Applied AI is putting AI to its highest and best use: running your organization as autonomously as possible so you can deliver value for humanity while maximizing the scale of the value. The economy is splitting. Organizations that adopt applied AI are expanding their capacity, accelerating their impact, and pulling ahead. Those that don't are quietly becoming irrelevant, not because they're doing bad work, but because the gap between what they can do and what the moment requires is widening every day. This is not a technology question. It is a leadership question. This paper is written for organizational leaders, …

The Impact Of Student Achievement On Economic Growth: A Pisa-Based Analysis Of Gdp Per Capita, Emma Rose Nasr

Undergraduate Theses and Capstone Projects

This study investigates the extent to which international student achievement, measured through PISA assessments in mathematics, reading, and science, explains cross-country differences in economic development. Using an unbalanced panel data set combining PISA results from 2015, 2018, and 2022 with macroeconomic indicators from the World Development Indicators, I estimate multiple regression models, including pooled OLS, country and time fixed effects, and subsample analyses for developed and developing countries. Results from the pooled model indicate strong positive associations between PISA scores and GDP per capita, consistent with human capital theory. However, these relationships diminish under fixed effects specifications, suggesting that cross-country …

Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray

Journal of Humanities and Social Sciences

The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …

Do Financial Concerns Make Workers Less Productive?, Dua Khowaja

2025 Fall Honors Capstones Projects - Archive

Financial stress does not just affect people’s finances; it can change the way individuals behave. This project asks whether short-term financial difficulty damages worker performance or if alleviating it improves focus and accuracy. Using data from a field experiment in rural India, this study examine how labor payment timing variability is related to workers' productivity and error rates. The study randomized payment dates across a sample of employees, so that employees paid early can be compared to employees paid on standard or later dates. It investigates whether subsidy of payments relieves stress and enhances task performance by minimizing stress, enhancing …

Health Crisis And Currency Risk: Fresh Evidence From New Data Sets, Afees A. Salisu, Dinci J. Penzin, Yinka S. Hammed

Bulletin of Monetary Economics and Banking

With the aid of a method of predictability analysis that involves a feasible quasigeneralized least squares estimator, we examine the predictive power associated with the newly computed COVID-19 indices, which are disaggregated into six indices for currency market risks (realized volatility of exchange rate). Our sample size covers the period between December 31, 2019, and December 28, 2021. We note mixed outcomes for the major currency markets considered. On average, while the health crisis seems to have heightened the risks associated with Pounds Sterling, Australian Dollar and Canadian Dollar against USD, it exerts a moderating effect on the Euro, Yen …

What About The Buyers? Deriving Factors Of Demand In The U.S. Black Market, Eric S. Schneider

Undergraduate Theses

The vast majority of econometric research regarding black markets focuses on the supply. Relatively little information is definitively shown in academic literature regarding the drivers of demand for black markets. This project seeks to identify factors of demand for black market goods and services. First, this paper gives a brief definition of the broad definition of black markets, before specifically defining the scope of individual markets which will be included in this project. Next, there is a brief review of recent literature on the U.S. black market in order to determine prime candidates for factors of demand. Then, a robust …

High ‘Steaks’: Does Lone Star Tick-Induced Red Meat Allergy Reduce Cardiovascular Disease-Related Hospitalizations?, Raj Parekh

CMC Senior Theses

In this thesis, I investigate the relationships between Lone Star Tick-induced Alpha-Gal Syndrome (AGS), red meat consumption, and cardiovascular health outcomes within New York State's 62 counties from 2012 to 2021. The analysis examines whether AGS, which forces individuals to reduce red meat consumption, serves as a natural experiment in understanding dietary impacts on cardiovascular disease (CVD). Leveraging panel data, I utilize Fixed Effects (FE) and Two-Stage Least Squares (2SLS) regression frameworks to disentangle the relationships between red meat expenditure, meat prices, Lone Star Tick prevalence, and health outcomes such as CVD, stroke, coronary heart disease, and heart attack hospitalization …

The Impact Of Technological Change On Achieving Sustainable Development: Panel Data Analysis On Emerging Countries (2004-2024), Mayar Walid Al, Ahmed Tarek Ta

Future Journal of Social Science

This study examines the impact of technological change on sustainable development in five emerging economies—Egypt, China, Brazil, India, and Turkey—over the period from 2004 to 2024 (World Bank, 2020; ITU, 2022). It seeks to understand how advancements in information and communication technologies, renewable energy, and manufacturing processes shape economic, social, and environmental sustainability (Geels et al., 2017; UNEP, 2021). Using panel data analysis, the research quantifies the relationship between technological indicators, such as ICT penetration and renewable energy adoption, and sustainable development outcomes, including GDP growth, environmental health, and social inclusion (Sadorsky, 2010; Shahbaz et al., 2016).

The findings reveal …

Striking A Balance: Market Shock & Responses In Automotive Components Manufacturing, Emma Lane Mcgahey

All Theses

This thesis examines the effects of extreme market shocks on supply chain dynamics within the automotive industry. Through an analysis of demand data from an automotive manufacturer to its component suppliers (January 2018 to May 2024), the study investigates the relationship between market shocks and supply chain responses, providing insights into how auto components inventory management handles downstream responses to market shocks. With supporting public data—from FRED, BLS, and the U.S. Census Bureau resources—we explore two primary relationships: the impact of market shocks on the Average Standard Deviation of Demand (SDO) and the effect of demand variability on expedited pricing …

The Effect Of Crime On Tourism In Indonesia, Muhammad Farhan, Hera Susanti

Journal of Strategic and Global Studies

Tourism sector is widely known as one of economic sectors that can be the engine of economic growth in an effort to reduce poverty in a country. However, growth in the tourism sector can be influenced by safety factors. Tourists tend to avoid tourism destination areas with high crime rates in order to avoid becoming victims of crime. This study aims to analyze the effect of crime on the number of tourist arrivals in Indonesia by using four proxies of crime, which are total crime rate, property crime rate, violent crime rate, and fraud crime rate. This study utilizes a …

The Relationship Between Monetary Policy And The Stock Market Cycle: An Empirical Study In Vietnam, Nhung Thuy Tran

The Indonesian Capital Market Review

The study examines the relationship between monetary policy and the stock market cycle in Vietnam. Using data from 2007 to 2022 and employing a VAR model, we estimate the impact of monetary policy factors on stock market cycle variables. The findings confirm a two-way causal relationship between monetary policy and the stock market cycle. However, the influence of cyclical fluctuations on the monetary policy transmission mechanism is weak, exhibits a lag, and predominantly occurs in the medium and long term. These results indicate that Vietnam's monetary policy requires time to absorb financial shocks and adjust to economic conditions. The study …

The New China Model: Combating Economic And Political Order, Jack R. Swords

Dartmouth College Master’s Theses

Contemporary world politics centers around the actions of the two largest powers on Earth, the United States and China. They are both each other’s greatest adversary yet at the same time are each other’s largest trading partners. This thesis explores the nature of China’s economic climate that has seen it grow to one of the world’s foremost powers. However, the East Asian Nation faces economic challenges centered around the three D’s: Debt, Deflation, and Demographics. This thesis analyses what the nature of these challenges are and how China is responding to them within the ever-advancing world of economic and political …

Trade Liberalization, Non-Oil Export And Economic Growth In Nigeria, Jerome T. Andohol, Terhemen Tarzoor, Dennis T. Nomor

CBN Journal of Applied Statistics (JAS)

The study examines the impact of trade liberalization and non-oil exports on economic growth in Nigeria from 1986 to 2021. The study utilizes an autoregressive distributed lag model and found the combined effect of trade liberalization and non-oil exports to be positive and statistical significant. While trade liberalization alone may have negative consequences, its synergy with a robust non-oil export can drive sustainable economic growth. The study recommends that strategies to enhance non-oil exports should be encouraged to support the effectiveness of trade liberalization in promoting growth.

Stock Market Volatility In The United Kingdom: Simulating Post-Covid-19 Recovery, Bala A. Dahiru, Mohammed Shuaibu, Najibullah Hassanov

CBN Journal of Applied Statistics (JAS)

This paper investigates the time it would take for the FTSE-100 index to reach its post-COVID-19 peak. The paper utilises an exponential generalised autoregressive conditional heteroscedasticity (EGARCH) model that accounts for leverage effect and asymmetries. The preferred models amongst competing variants was the Autoregressive Moving Average (ARMA)-EGARCH(2,1) specification and was used to predict daily FTSE-100 data from 5th January 2000 to 21st June 2024. The empirical exercise showed that the COVID-19-induced financial crisis negatively affected the United Kingdom’s stock market performance. The results show that the FTSE100 index could reach its post-pandemic peak around 27th August, 2024 (two months after …

The Economics Behind The Legalization Of Sports Gambling And Financial Market Relations, John Bassham

Finance Undergraduate Honors Theses

With the recent legalization of sports gambling, it has become a popular spectacle among sports fans and financial analysts pursuing an understanding of it. This thesis dives into the meticulous relationship between sports gambling and economic factors/financial market relations using academic literature to understand the relationship.

The thesis explores sports gambling from an economic standpoint using incentives to understand the market participants and economic advantages and disadvantages. It also uses academic literature and analytics to make a case for market efficiency while also delving into particular inefficiencies.

Furthermore, this thesis uses characteristics of the stock market in comparison of the …

Economic Anomalies Following The Handover Of Hong Kong, Nathan Martin

Economics Undergraduate Honors Theses

This paper seeks to examine and provide a possible explanation for economic anomalies in Hong Kong following its handover to China. Hong Kong was on a 99-year lease to the United Kingdom from China before being handed back over July 1^st, 1997. Due to the “one country, two systems” policy espoused in the handover agreement that was to be implemented for fifty years, this event marks a rare natural experiment of a peaceful regime change without a significant change in governance. This paper seeks to understand the impact of the act of regime change on selected key macroeconomic …

De-Escalating The United States-China Trade War Using A Global Conflict Resolution Methodology Framework, Angelina Kapp

Undergraduate Honors Theses

How can the United States and China collaboratively de-escalate their current trade relationship using a conflict resolution methodology to foster economic growth and foreign investor confidence in the evolving landscape of global trade? This paper will serve as a guide to those wanting to gain a comprehensive understanding of the macroeconomic causes and impacts of the contentious trade war between the U.S. and China. The year 2018 can be attributed to the start of the war when then-President Donald Trump implemented tariffs on Chinese goods and products. These back-and-forth financial and economic measures have been continually imposed to this day …

Modelling The Naira Exchange Rate Dependence Using Static And Time-Varying Copula, Kabir Katata

CBN Journal of Applied Statistics (JAS)

This paper examines the dependence structure of different currencies versus the Nigerian Naira using constant and time-varying copula. Daily Naira/USD, Naira/Yuan, Naira/Pound, and Naira/Euro exchange rates from 23 December 2011 to 12 May 2020 were utilised. We fitted eight constant and time-varying copula families using the exchange rate standardised residuals. The study finds that the Naira exchange rate may be estimated with student t-copula, Symmetrized Joe-Clayton (SJC), or Rotated Gumbel copula models and Autoregressive (AR)– Glosten Jagannathan RunkleGeneralized Autoregressive Conditional Heteroscedastic (GJR-GARCH) (1,1) models with skewed t residuals for margins. The Naira exchange rate returns is timevarying, tail-dependent, and asymmetric. …

External Debt Pass-Through To Inflation In Nigeria, Emmanuel A. Asue, James V. Ikyaator

CBN Journal of Applied Statistics (JAS)

This study examines external debt pass-through to inflation in Nigeria using annual data from 1981 to 2020 based on structural vector autoregressive (SVAR) model. The results reveal that an increase in external debt service leads to a significant depreciation of the exchange rate, which leads to a contemporaneous increase in inflation, while the direct response of inflation to external debt is statistically not significant. The impulse response confirms these results. The forecast error variance decomposition depicts that future values of official exchange rate depend on external debt, inflation and external debt service. The study recommends that the Nigerian government should …

Will The Philippine Development Plan 2023-2028 Targets Be Met?, Jesus Felipe

Angelo King Institute for Economic and Business Studies (AKI)

EARLY THIS YEAR, President Ferdinand Marcos, Jr. signed the Philippine Development Plan 2023-2028 (PDP). The document contains hundreds of targets. Some of the key targets to be attained by 2028 are as follows (in fact, the Plan provides yearly targets):

1.) an annual growth rate of 6.5-8% (since 2024); 2.) a gross national income per capita of $6,044-$6,571 (50% higher than that in 2023); 3.) inflation between 2%-4% (from 2.5%-4.5% in 2023); 4.) a government fiscal deficit of 3% (from 6.1% in 2023); 5.) a debt-to-GDP ratio of 48%-53% (from 60%-62% in 2023); 6.) an unemployment rate of 4%-5% (from …

Monetary Policy And Stagflation: A Trade-Off Between Price Stability And Economic Growth?, Leef H. Dierks

Journal of New Finance

Several euro area economies are likely to experience a stagflation in 2023. This situation is characterized by a combination of economic stagnation, i.e., GDP growth falling below its potential growth rate, and a pronounced increase in inflation as was last observed during the 1970s’ oil crisis. A stagflation presents the European Central Bank with a dilemma. Should it further tighten its monetary policy in an attempt to align euro area inflation (expectations) with its target of two per cent p.a. in the medium term? Or should the ECB re-adopt a more accommodative stance so as to stimulate economic growth in …

Modelling The Impact Of Government Expenditure On Economic Growth In Nigeria: The Moderating Effects Of Oil And Non-Oil Revenue, Victor U. Ijirshar, Gaius M. Asombo, Florence D. Bundepuun, Ashifa Tersugh, Ayila Ngutsav

CBN Journal of Applied Statistics (JAS)

This study examines the relationship between government expenditure and economic growth and assesses the moderating effects of oil revenue and non-oil revenue in Nigeria from 1981 to 2021. The study uncovered short-term asymmetry in the government expenditure-economic growth nexus while the long-term relationship was symmetric. The study found that government expenditure is a significant determinant of economic growth in Nigeria and that oil and non-oil revenue influences the nexus between government expenditure and economic growth in Nigeria positively. The study recommends efficient management of oil revenue, directing investments during high revenue periods and ensuring fiscal sustainability. Government should also establish …

Improving The Efficiency Of Exponential Ratio-Type Estimator For Population Median: A Calibration Weight Adjustment Approach, Mathew J. Iseh, Kufre J. Bassey

CBN Journal of Applied Statistics (JAS)

This paper modifies the Bahl and Tuteja exponential ratio-type estimator for population median under simple random and stratified sampling schemes using calibration weight adjustment technique with supplementary information to vary the stratum weights. The bias and mean square error of the modified estimator were obtained up to the second-order approximation, which satisfies the necessary conditions for efficiency. The findings show that the new estimator surpasses existing estimators in efficiency gain. This suggests the appropriateness of calibration weight modification in boosting the efficiency of a population parameter estimator under stratified random sampling especially where the population parameter of the auxiliary variable …

Personalised Pricing, Vijay Victor

Management Collection

With the advent of big data analytics, online prices can now be tailor made for each individual or a group of individuals exhibiting similar characteristics such as taste, preferences, income etc. With the availability of more and more reliable information about the willingness and ability to pay of the existing and prospective customers, the sellers are able to classify them into more refined groups. This highly customised pricing technique is popularly termed as personalised pricing. With the current pace of technological progress, although it is technically possible to estimate the willingness to pay of a consumer in real time, whether …

Essays In Asset Pricing, Muhammed Yonac

Dissertations, Theses, and Capstone Projects

This dissertation consists of three essays in asset pricing with the common theme of return predictability.

Chapter 1: This chapter introduces the motivation, results, and structure of the dissertation.

Chapter 2: I examine the relation between the social ties between firms' headquarters locations and co-movements between their fundamentals and stock returns. The evidence indicates that firms in the same industry with socially connected locations exhibit co-movement in fundamentals and stock returns that exceed those without socially connected locations. However, the stock returns reflect the location information with a lag. To exploit this lagged relationship, we form portfolios that buy (sell) …

Three Essays On Consumption Smoothing, Logan James Miller

Graduate Theses and Dissertations

Macroeconomic theory has established that consumption smoothing leads to higher standards of living. A stable consumption path can lead to more stability and less uncertainty between periods of high and low income. However, there is a wide body of literature that shows people do not consistently smooth their consumption when exposed to adverse income shocks. This dissertation uses experimental and empirical methods to better understand the obstacles people face when trying to smooth their consumption over time. It looks to understand the differences in pairs and individuals’ ability to smooth consumption. It also explores how the household’s level of income …

Effect Of Monetary Policy Rate On Market Interest Rates In Nigeria: A Threshold And Nardl Approach, Oluwafemi E. Awopegba, Joseph O. Afolabi, Lydia T. Adeoye, Godwin O. Akpokodje

CBN Journal of Applied Statistics (JAS)

This study examines the effect of monetary policy rate (MPR) on market interest rates in Nigeria. For parsimony, we develop two indexes called the short-term interest rate (SINT) and Lending interest rate (LINT) to represent deposit and lending rates respectively. The nonlinear autoregressive distributed lag (NARDL) and threshold regression models are adopted. The study uses monthly data from 2002:M1 to 2019:M12. The results of the threshold regression model indicate that the degree of the effect of MPR on SINT and LINT above the estimated threshold of 11 and 13 percent respectively is greater and significant than if MPR were to …

Social Dimension Of Inclusive Growth In Ecowas: Implication For Poverty Reduction, Toriola K. Anu, Goerge O. Emmanuel, Ajayi O. Felix

CBN Journal of Applied Statistics (JAS)

This study investigates the implication of the social dimension of inclusive growth on poverty reduction in Economic Community of West African States (ECOWAS) countries. It specifically examines how social indices of inclusive growth comprising of income inequality, education, and health outcomes affect poverty reduction. The study uses a panel dataset of the six (6) lower-middle income countries in ECOWAS which was analysed via panel Difference Generalised Method of Moment (D-GMM). The results show that GDP per capita exerts significant negative effect on poverty while inequality, education and health outcomes do not show significant effect on poverty. Although, the estimates of …