Open Access. Powered by Scholars. Published by Universities.®
- Institution
-
- Chapman University (319)
- Bryant University (240)
- Claremont Colleges (15)
- The University of San Francisco (14)
- City University of New York (CUNY) (10)
-
- Clemson University (4)
- Central Bank of Nigeria (3)
- Illinois Wesleyan University (3)
- Macalester College (3)
- West Virginia University (3)
- Central Washington University (2)
- Colby College (2)
- Georgia College (2)
- The University of Akron (2)
- University of Connecticut (2)
- University of Lynchburg (2)
- American University in Cairo (1)
- Chulalongkorn University (1)
- Georgia Southern University (1)
- LSU New Orleans (1)
- Montclair State University (1)
- SUNY Buffalo State University (1)
- The University of Southern Mississippi (1)
- Universitas Indonesia (1)
- University of Central Florida (1)
- University of Dar es Salaam (1)
- University of Kentucky (1)
- University of Louisville (1)
- University of Montana (1)
- University of New Hampshire (1)
- Keyword
-
- Experiments (32)
- Experiment (23)
- Experimental economics (18)
- Economics (16)
- Cooperation (14)
-
- Coordination (10)
- Laboratory Experiments (10)
- Laboratory experiments (10)
- Trust (10)
- Beliefs (9)
- Contest (9)
- Institutions (9)
- Social norms (9)
- All-pay auction (8)
- Conflict (8)
- Laboratory experiment (8)
- Economic development (7)
- Endogenous institutions (7)
- Religion (7)
- Repeated games (7)
- Social dilemmas (7)
- Experimental asset markets (6)
- Matching (6)
- Social preferences (6)
- Colonel Blotto (5)
- Competition (5)
- Conflict resolution (5)
- Contests (5)
- Economic growth (5)
- Information (5)
- Publication Year
- Publication
-
- ESI Working Papers (315)
- Empirical Economic Bulletin, An Undergraduate Journal (240)
- Master's Theses (13)
- CMC Senior Theses (10)
- Theses and Dissertations (7)
-
- All Theses (3)
- Bullion (3)
- ESI Data Sets (3)
- Economics Honors Projects (3)
- Graduate Theses, Dissertations, and Problem Reports (ETD) (3)
- Scripps Senior Theses (3)
- All Master's Theses (2)
- Dissertations and Theses (2)
- Honors Scholar Theses (2)
- Honors Theses (2)
- Undergraduate Economic Review (2)
- Undergraduate Theses and Capstone Projects (2)
- Williams Honors College, Honors Research Projects (2)
- All Dissertations (1)
- Applied Economics Theses (1)
- Correspondence and Textual Material (1)
- Dissertations (1)
- Dissertations, Theses, and Capstone Projects (1)
- Economics ETDs (1)
- Economics Faculty Articles and Research (1)
- Electronic Theses and Dissertations (1)
- Faculty Publications (1)
- Georgia College Student Research Events (1)
- Graduate Student Theses, Dissertations, & Professional Papers (1)
- Honors Projects (1)
- Publication Type
Articles 301 - 330 of 645
Full-Text Articles in Econometrics
Designing Call Auction Institutions To Eliminate Price Bubbles: Is English Dutch The Best?, Cary Deck, Maroš Servátka, Steven Tucker
Designing Call Auction Institutions To Eliminate Price Bubbles: Is English Dutch The Best?, Cary Deck, Maroš Servátka, Steven Tucker
ESI Working Papers
The bubble and burst pattern in asset market experiments is among the most replicable results in experimental economics. Numerous studies have searched for means to reduce this mispricing. Using controlled laboratory experiments, we compare mispricing in standard double auction markets to prices in two clock auctions. The double Dutch auction, shown to be more efficient than the double auction in commodity market experiments, does not eliminate bubbles. However, the English Dutch auction does yield prices reflective of underlying fundamentals and succeeds in taming bubbles even with inexperienced traders in the common declining fundamental value environment.
Salience And Social Choice, Mark Schneider, Jonathan W. Leland
Salience And Social Choice, Mark Schneider, Jonathan W. Leland
ESI Working Papers
The axioms of expected utility and discounted utility theory have been tested extensively. In contrast, the axioms of social welfare functions have only been tested in a few questionnaire studies involving choices between hypothetical income distributions. In this note, we conduct a controlled experiment with 100 subjects in the role of social planners that tests five fundamental properties of social welfare functions to provide a basic test of cardinal social choice theory. We find that four properties of the standard social welfare functions tested are systematically violated, producing an Allais paradox, a common ratio effect, a framing effect, and a …
A Time To Print, A Time To Reform, Lars Boerner, Jared Rubin, Battista Severgnini
A Time To Print, A Time To Reform, Lars Boerner, Jared Rubin, Battista Severgnini
ESI Working Papers
The public mechanical clock and movable type printing press were arguably the most important and complex technologies of the late medieval period. We posit that towns with clocks became upper-tail human capital hubs--clocks required extensive technical know-how and fine mechanical skill. This meant that clock towns were in position to adopt the printing press soon after its invention in 1450, as presses required a similar set of mechanical and technical skills to operate and repair. A two-stage analysis confirms this conjecture: we find that clock towns were 34-40 percentage points more likely to also have a press by 1500. The …
Endogenous Market Formation And Monetary Trade: An Experiment, Gabriele Camera, Dror Goldberg, Avi Weiss
Endogenous Market Formation And Monetary Trade: An Experiment, Gabriele Camera, Dror Goldberg, Avi Weiss
ESI Working Papers
The theory of money assumes decentralized bilateral exchange and excludes centralized multilateral exchange. However, endogenizing the exchange process is critical for understanding the conditions that support the use of money. We develop a “travelling game” to study the emergence of decentralized and centralized exchange, theoretically and experimentally. Players located on separate islands can either trade locally, or pay a cost to trade elsewhere, so decentralized and centralized markets can both emerge in equilibrium. The former minimize trade costs through monetary exchange; the latter maximizes overall surplus through non-monetary exchange. Monetary trade emerges when coordination is problematic, while centralized trade emerges …
The Attack And Defense Games, Roman Sheremeta
The Attack And Defense Games, Roman Sheremeta
ESI Working Papers
The attack and defense game is a game in which an attacker (a group of attackers) has an incentive to revise the status quo and a defender (a group of defenders) wants to protect it. The asymmetry in objectives creates incompatible interests and results in a mixed-strategy Nash equilibrium. However, this equilibrium could be heavily impacted by behavioral considerations.
A Bias Aggregation Theorem, Mark Schneider
A Bias Aggregation Theorem, Mark Schneider
ESI Working Papers
In a market where some traders are rational (maximize expected utility) and others are systematically biased (deviate from expected utility due to some bias parameter, q), do equilibrium prices necessarily depend on q? In this note, focusing on the case where there is an aggregate and systematic bias in the population, we show that market prices can still be unbiased. Hence, we establish that systematically biased agents do not necessarily imply biased market prices. We show that the parametric model we use also predicts observed deviations from expected utility in laboratory and market environments.
Cooperation Among Strangers With And Without A Monetary System, Maria Bigoni, Gabriele Camera, Marco Casari
Cooperation Among Strangers With And Without A Monetary System, Maria Bigoni, Gabriele Camera, Marco Casari
ESI Working Papers
Human societies prosper when their members move beyond local exchange and cooperate with outsiders in the creation of wealth. Collaboration of this type presents formidable challenges because interaction is impersonal, reciprocity is unfeasible and trust cannot be easily established. Here we study this cooperation problem by modeling strategic interaction among strangers through an Intertemporal Exchange Game. The setup can be easily implemented in the laboratory to study a variety of cooperation-enhancing institutions. In particular, we study the role of a fiat monetary system by introducing intrinsically worthless tokens that can be offered in exchange for cooperation. The experiments show that …
Are The Food Insecure More Likely To Be Obese?, Lisa Russo
Are The Food Insecure More Likely To Be Obese?, Lisa Russo
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the connections between food insecurity and obesity levels throughout the United States over three years (2011-2013). The causes of obesity are often not entirely a result of poor diet and exercise, but of the presence of food deserts in impoverished areas. Changes in income trends in recent years also the poor remain poor rather than experiencing upward mobility. This study builds on previous studies conducted both within the U.S. and internationally that found that food insecurity is a determinant of obesity rates. This study uses poverty as a proxy measurement for food insecurity at the state level, …
The Effect Of Corruption On Foreign Direct Investment In Transition Economies: A Panel Data Study, Michael Chodziutko
The Effect Of Corruption On Foreign Direct Investment In Transition Economies: A Panel Data Study, Michael Chodziutko
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the FDI inflows into transition economies of Europe. The study incorporates a time series element to help see how investment has changed over time in this region. Corruption and economic conditions are what will be specifically studied in this model. Market conditions are the final independent variable present in this studied, used to try and understand how the market size can influence inflows. The results show that there is a negative relationship between corruption on FDI flows. It was also found that economic growth and integration into the world economy have a positive relationship in attracting foreign …
The Burden Of Public Debt On The United Kingdom: Analyzed With Var Approach, Yuvraj Duggal
The Burden Of Public Debt On The United Kingdom: Analyzed With Var Approach, Yuvraj Duggal
Empirical Economic Bulletin, An Undergraduate Journal
The study aims to find the relationship in between economic growth and public debt in the United Kingdom using a Vectoral Autoregression approach in between 1999 till 2017. The study aims to examine the impact of public debt on interest rates, inflation rates, Real GDP growth rate, and interest debt payments in the UK. The results show a positive and statistically significant impact of public debt on inflation rates and interest rates. It is also found that the variables affect each other as a consequence in the model and therefore public debt also influence the real GDP growth rates and …
Corruption And South American Public Health Governance: A Panel Data Analysis, Richard Mydland
Corruption And South American Public Health Governance: A Panel Data Analysis, Richard Mydland
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates high income South American countries and their Corruption Perception Index ranking compared to their public health economic variables alongside other macroeconomic variables. The study takes into account that each country is different by means of economic nature due to geographic location. Countries with a natural resource curse are different from traditionalist economic countries. The model examines the implications of a corruption ranking along with health and macroeconomic data that is strongly correlated with decreasing or increasing returns to scale.
The Glass-Cliff And Usa Politics: Are Women Set Up For Failure?, Amber Marin
The Glass-Cliff And Usa Politics: Are Women Set Up For Failure?, Amber Marin
Empirical Economic Bulletin, An Undergraduate Journal
This study investigates the hypothesis that the glass cliff exists in Senate races for the United States in 1998, 2004, 2010, and 2016. It compares the effects to anecdotal situations focusing on Brexit. The results of the study find validity in glass cliff hypothesis.
Does Growth Have A Price Tag? Foreign Aid’S Effect On Economic Growth In Africa, Andrew Berghahn
Does Growth Have A Price Tag? Foreign Aid’S Effect On Economic Growth In Africa, Andrew Berghahn
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the linkage between Official Development Assistance (ODA) received by African countries and the growth of GDP per capita within those nations. This study uses fixed and random effects to explore to ascertain the effects of increasing the amount of ODA received in relation to the country’s GDP. The results from this analysis show that there is a clear negative impact on country’s GDP per capita as ODA increases in relation to total GDP.
How Improving Prison Systems In The United States Will Positively Impact The Economy, Jordan Laube
How Improving Prison Systems In The United States Will Positively Impact The Economy, Jordan Laube
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the causes of high recidivism in the United States and offers a solution to theoretically bring these numbers down. This study is compiled of data over the past twenty years (1998-2018) as there have been spikes in recidivism rates during this time period. Some of the independent variables that this paper will take into account are economic and labor market freedom, race, cost, sentence length, and prison population under discretionary review. A one percent increase in state economic freedom is associated with a 0.47 % decrease in parolee recidivism. The relationship is stronger and more statistically significant …
Economic Growth As It Relates To Women’S Labor Force Participation In The Lac, John Esher
Economic Growth As It Relates To Women’S Labor Force Participation In The Lac, John Esher
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the dependence of economic growth in the LAC and the relationship between Women’s Labor Force Participation and growth in production and total GDP. This study is the incorporation of information and data from the LAC into a Solow Growth Model to examine the influence of participation on the GDP per capita of the region. Increases in GDP per capita are modeled by using the differences in current GDP per capita against the GDP after women’s participation is increase to the same level to men’s. The results show that if women were to actively participate in the labor …
Esg Scores Impact On The Market Value Of The Stock, Michelle Quinn
Esg Scores Impact On The Market Value Of The Stock, Michelle Quinn
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the effects of the ESG scores on a firm’s stock valuation, using the Tobin’s Q ratio. This study will incorporate both the ESG index as a whole and the individual factors: environmental, social and governance to consider the firm’s corporate social responsibility. This model uses the Tobin’s Q measurement to evaluate if the stock is over or undervalued while including the size, risk, and development within the firm. The paper found that there is little significant evidence to prove that there is a relationship between the ESG scores and the valuation of the stock, but there is …
Effects Of Private And Public Health Expenditure On Health Outcome, Hyungue Lim
Effects Of Private And Public Health Expenditure On Health Outcome, Hyungue Lim
Empirical Economic Bulletin, An Undergraduate Journal
The current level of health spending in the U.S. is the highest in the world. However, the outcomes of the health spending are among the lowest for developed countries. Therefore, for policy development purpose, it is necessary to determine which direction of healthcare spending results in better output, private or public. This paper investigates the effect of private and public health expenditure on life expectancy, infant mortality at birth, and infant mortality under age 5 among 11 OECD countries. Hausman test is performed to confirm the fixed effects models. Fixed effects GLS and GMM are used for data analysis. We …
What Is Driving Up Health Care Costs? Does Pollution Play A Role: Oecd Country Panel Data Analysis, Sean Gillis
What Is Driving Up Health Care Costs? Does Pollution Play A Role: Oecd Country Panel Data Analysis, Sean Gillis
Empirical Economic Bulletin, An Undergraduate Journal
This study investigates the rising health care costs among nine OECD nations from 1990 to 2014. A panel data analysis was conducted to analyze specific causes for these rises. Total health care expenditure is the dependent variable with carbon dioxide emissions being the main variable of interest. Analysis finds that the economy has grown faster than health care expenditures, and a negative relationship between CO2 emissions, elderly populations, urban population growth rates and health care expenditure.
Causality Relationship Between Income Inequality And Life Satisfaction In European Countries: Does Income Inequality Affect Life Satisfaction?, Rodrigue Beleho Balemaken
Causality Relationship Between Income Inequality And Life Satisfaction In European Countries: Does Income Inequality Affect Life Satisfaction?, Rodrigue Beleho Balemaken
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the interaction between life satisfaction and income inequality in European nations from 2006 to 2016. The keys finding of the analysis and the results show that countries that promote collectivism tend to have people with higher life satisfaction than countries which promote individualism. In general, individuals prefer to live in a country where they have stable disposable income, freedom in the way they are thinking, trust in their government and policies, a healthy life expectancy, and social support and generosity from peers. With this in mind, it raises the question, “where does income inequality fit into this?” …
Fdi & Crime In South America: A Panel Data Analysis, Casey Doyle
Fdi & Crime In South America: A Panel Data Analysis, Casey Doyle
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the relationship between flows of FDI into South America and how it affects crime and how crime affects FDI. The paper incorporates a fixed effects model within an FDI model to examine how flows of FDI from foreign countries into South America impact crime in these countries. This study will use ten countries from South America in a panel data set from 2010 to 2016 that have different FDI intakes and crime rates. This is so that a well-rounded picture can be seen.
Salary Dispersion And Team Performance In Major League Baseball: A Quantile Regression Analysis, Shane Vyskocil
Salary Dispersion And Team Performance In Major League Baseball: A Quantile Regression Analysis, Shane Vyskocil
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the relationship between salary dispersion and team performance in Major League Baseball. Player salary data is collected to calculate each team’s annual Gini coefficient from 1998-2016, which is used to represent a team’s level of wage inequality in a given year. The study incorporates a fixed and random effects model, and distinguishes itself from previous research by employing multiple quantile regressions to analyze how the impact of salary dispersion differs depending on a team’s performance level. The results find that the fixed effects model is preferred, and that there is consistently a negative relationship between wage differentials …
Factor Model Tests Of Long-Run Price Reversals In The U.S. Stock Market, Harrison Garrett
Factor Model Tests Of Long-Run Price Reversals In The U.S. Stock Market, Harrison Garrett
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates whether long-run price reversals persist in stocks that have significantly outperformed or underperformed the market. Consistent with previous studies, the results show that there are sizeable positive abnormal returns to a long-term contrarian strategy of investing in stocks with significant prior underperformance. However, these positive abnormal returns are driven by low-priced stocks, and stocks with very low market capitalizations. When the investment universe is narrowed to remove very small companies and lowpriced stocks, there is no longer a statistically significant return difference between portfolios of stocks with significant prior outperformance and significant prior underperformance.
Determinants Of Life Expectancy In The Central African Republic, Taylor Rizzo
Determinants Of Life Expectancy In The Central African Republic, Taylor Rizzo
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the determinants of life expectancy in the Central African Republic. The study uses economic, social, and environmental factors to estimate a health production function. The study aims to offer suggestions on ways to target life expectancy as a method for increasing economic growth. The results show that the best way to increase longevity in the CAR and solve the mortality crisis are to increase sanitation facilities and regulation, solve the hunger/malnutrition problem, and to reduce the deadly spread of HIV. Aid was determined to be significant in improving the well-being of citizens in the CAR.
Figuring Out Aid: The Determinants Of Foreign Aid To Subsaharan Africa In The Post-Cold War Era, Soala Ekine
Figuring Out Aid: The Determinants Of Foreign Aid To Subsaharan Africa In The Post-Cold War Era, Soala Ekine
Empirical Economic Bulletin, An Undergraduate Journal
I investigate the determinants of foreign aid to Sub – Sahara African countries. I look at the post – Cold War era following Bandyopadhyay and Wall (2007). The independent variables of interest are GDP per capita, infant mortality, population, civil and political rights and also government effectiveness. I control for fixed effects to allow for political, strategic and other reasons donors have and use data from the World Bank from 1995. My results show that in the post-Cold War era, government effectiveness and population are statistically significant in explaining net official and development aid and assistance. A population bias is …
The Effect Of Outward Foreign Direct Investment On Exports In Japan During The Lost Decade, 1985-2005, Alexandros Ladas
The Effect Of Outward Foreign Direct Investment On Exports In Japan During The Lost Decade, 1985-2005, Alexandros Ladas
Dissertations and Theses
This study will utilize an OLS analysis of the panel data coming from various databases such as the World Bank, Federal Reserve and etc. to determine if there exists a significant correlation between the exports of Japan and its foreign direct investment (FDI) in the period of 1985-2005 with nearby trading partners of which include the countries of ASEAN, China and South Korea. In addition, a selection of supplemental factors will be used to determine if they also possess any significance with exports. These factors include: the exchange rate of the Japanese yen with the currency of the trading partner …
Estimating The Economic Value Of Rock Climbing In Smith Rock: An Individual Travel Cost Approach, Cassandra Koefod
Estimating The Economic Value Of Rock Climbing In Smith Rock: An Individual Travel Cost Approach, Cassandra Koefod
All Master's Theses
In this study I estimate the economic value of rock climbing in Smith Rock State Park, Oregon. This area has seen an increase in recreational visits over the years, especially in rock climbing, necessitating economic valuation of the site in order to assist park managers in optimal management of this resource. Given regular conflicts over use of rock climbing areas by a variety of stakeholders (recreational users, habitats, cultural uses, etc.) this study will help in understanding how benefits of recreation is affected when policies limit access to such areas. I collect original survey data on travel to Smith Rock …
A Full Characterization Of Best-Response Functions In The Lottery Colonel Blotto Game, Dan Kovenock, David Rojo Arjona
A Full Characterization Of Best-Response Functions In The Lottery Colonel Blotto Game, Dan Kovenock, David Rojo Arjona
ESI Working Papers
We fully characterize best-response functions in Colonel Blotto games with lottery contest success functions.
Money Is More Than Memory, Maria Bigoni, Gabriele Camera, Marco Casari
Money Is More Than Memory, Maria Bigoni, Gabriele Camera, Marco Casari
ESI Working Papers
Impersonal exchange is the hallmark of an advanced society and money is one key institution that supports it. Economic theory regards money as a crude arrangement for monitoring counterparts’ past conduct. If so, then a public record of past actions—or memory—should supersede the function performed by money. This intriguing theoretical postulate remains untested. In an experiment, we show that the suggested functional equivalence between money and memory does not translate into an empirical equivalence: money removed the incentives to free ride, while memory did not. Monetary systems performed a richer set of functions than just revealing past behaviors.
Modeling Interactions Between Risk, Time, And Social Preferences, Mark Schneider
Modeling Interactions Between Risk, Time, And Social Preferences, Mark Schneider
ESI Working Papers
Recent studies have observed systematic interactions between risk, time, and social preferences that constitute violations of `dimensional independence' and are not explained by the leading models of decision making. This note provides a simple approach to modeling such interaction effects while predicting new ones. In particular, we present a model of rational-behavioral preferences that takes the convex combination of `behavioral' System 1 preferences and `rational' System 2 preferences. The model provides a unifying approach to analyzing risk, time, and social preferences, and predicts how these preferences are correlated with reliance on System 1 or System 2 thinking.
A Dual System Model Of Risk And Time Preferences, Mark Schneider
A Dual System Model Of Risk And Time Preferences, Mark Schneider
ESI Working Papers
Discounted Expected Utility theory has been a workhorse in economic analysis for over half a century. However, it cannot explain empirical violations of 'dimensional independence' demonstrating that risk interacts with time preference and time interacts with risk preference, nor does it explain present bias or magnitude-dependence in risk and time preferences, or correlations between risk preference, time preference, and cognitive reflection. We demonstrate that these and other anomalies are explained by a dual system model of risk and time preferences that unless models of a rational economic agent, models based on prospect theory, and dual process models of decision making.