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Articles 601 - 630 of 645
Full-Text Articles in Econometrics
Some Professionals Play Minimax: A Reexamination Of The Minimax Theory In Major League Baseball, Jeffrey Park
Some Professionals Play Minimax: A Reexamination Of The Minimax Theory In Major League Baseball, Jeffrey Park
CMC Senior Theses
This paper explores the behavior of Major League Baseball pitchers. We analyze the pitching data from 2007-2010 in order to determine whether their actions follow minimax play. We also examine what the OPS statistic tells us about a pitcher's value.
An Economic Impact Study Of The "Boom" Period Of Baseball Stadium Redevelopment, Emily Mcnab
An Economic Impact Study Of The "Boom" Period Of Baseball Stadium Redevelopment, Emily Mcnab
CMC Senior Theses
The intention of this study is to analyze the economic impact of redeveloped Major League Baseball stadiums opened between 1991 and 2004. Using two empirical models, including an event study, this impact analysis captures the economic conditions of the cities during the opening year of the stadium, as well as the prior conditions leading up to the opening of the stadium, along with any lingering effects or gradual changes in conditions. The impact was measured in relation to the Metropolitan Statistical Areas corresponding to the 18 ballparks included, specifically looking at the impact on employment rates and per capita personal …
Visibility Of Contributions And Cost Of Information: An Experiment On Public Goods, Anya Savikhin, Roman M. Sheremeta
Visibility Of Contributions And Cost Of Information: An Experiment On Public Goods, Anya Savikhin, Roman M. Sheremeta
ESI Working Papers
We experimentally investigate the impact of visibility of information about contributors on contributions in the public goods game. We systematically consider several treatments that are similar to a wide range of situations in practice. First, we vary the cost of viewing identifiable information about contributors. Second, we vary recognizing all, top or bottom contributors. We find that recognizing all contributors significantly increases contributions relative to the baseline. Recognizing only the top contributors is not significantly different from not recognizing contributors, but recognizing only the bottom contributors is as effective as recognizing all contributors. When viewing information about contributors is costly, …
Fight Or Flight? Defending Against Sequential Attacks In The Game Of Siege, Cary Deck, Roman M. Sheremeta
Fight Or Flight? Defending Against Sequential Attacks In The Game Of Siege, Cary Deck, Roman M. Sheremeta
ESI Working Papers
This paper examines theory and behavior in a two-player game of siege, sequential attack and defense. The attacker’s objective is to successfully win at least one battle while the defender’s objective is to win every battle. Theoretically, the defender either folds immediately or, if his valuation is sufficiently high and the number of battles is sufficiently small, then he has a constant incentive to fight in each battle. Attackers respond to defense with diminishing assaults over time. Consistent with theoretical predictions, our experimental results indicate that the probability of successful defense increases in the defenders valuation and it decreases in …
Affecting Policy By Manipulating Prediction Markets: Experimental Evidence, Cary Deck, Shengle Lin, David Porter
Affecting Policy By Manipulating Prediction Markets: Experimental Evidence, Cary Deck, Shengle Lin, David Porter
ESI Working Papers
Documented results indicate prediction markets effectively aggregate information and form accurate predictions. This has led to a proliferation of markets predicting everything from the results of elections to a company’s sales to movie box office receipts. Recent research suggests prediction markets are robust to manipulation attacks and resulting market outcomes improve forecast accuracy. However, we present evidence from the lab indicating that single‐minded, well‐funded manipulators can in fact destroy a prediction market’s ability to aggregate informative prices and mislead those who are making forecasts based upon market predictions. However, we find that manipulators primarily influence market trades meaning outstanding bids …
Can Markets Save Lives? An Experimental Investigation Of A Market For Organ Donations, Cary Deck, Erik O. Kimbrough
Can Markets Save Lives? An Experimental Investigation Of A Market For Organ Donations, Cary Deck, Erik O. Kimbrough
ESI Working Papers
Many people die while waiting for organ transplants even though the number of usable organs is far larger than the number needed for transplant. Governments have devised many policies aimed at increasing available transplant organs with variable success. However, with few exceptions, policy makers are reluctant to establish markets for organs despite the potential for mutually beneficial exchanges. We ask whether organ markets could save lives. Controlled laboratory methods are ideal for this inquiry because human lives would be involved when implementing field trials. Our results suggest that markets can increase the supply of organs available for transplant, but that …
Personality And The Consistency Of Risk Taking Behavior: Experimental Evidence, Cary Deck, Jungmin Lee, Javier Reyes
Personality And The Consistency Of Risk Taking Behavior: Experimental Evidence, Cary Deck, Jungmin Lee, Javier Reyes
ESI Working Papers
Researchers have found that an individual’s risk attitude is not stable across elicitation methods. Results reported by Deck et al. (2009) suggest that personality may help explain the apparent inconsistency, offering support to Borghans et al.’s (2008) argument that economists should consider a multi‐domain approach to measuring risk attitudes. This paper uses laboratory methods to compare risk attitudes as measured by the Holt and Laury (2002) procedure under two different frames. We find that, as in Deck et al. (2009), one’s willingness to take financial risks (as measured by Weber et al. 2002) significantly affects behavior; however the effect is …
Perfect And Imperfect Real-Time Monitoring In A Minimum-Effort Game, Cary Deck, Nikos Nikiforakis
Perfect And Imperfect Real-Time Monitoring In A Minimum-Effort Game, Cary Deck, Nikos Nikiforakis
ESI Working Papers
This paper presents the results from a minimum-effort game in which individuals can observe the choices of others in real time. We find that under perfect monitoring almost all groups coordinate at the payoff-dominant equilibrium. However, when individuals can only observe the actions of their immediate neighbors in a circle network, monitoring improves neither coordination nor efficiency relative to a baseline treatment without real-time monitoring. We argue that the inefficiency of imperfect monitoring is due to information uncertainty, that is, uncertainty about the interpretation of the information available regarding the actions of others.
Price Increasing Competition? Experimental Evidence, Cary Deck, Jingping Gu
Price Increasing Competition? Experimental Evidence, Cary Deck, Jingping Gu
ESI Working Papers
Economic intuition suggests that increased competition generates lower prices. However, recent theoretical work shows that a monopolist may charge a lower price than a firm facing a competitor selling a differentiated product. The direction of the price change when competition is introduced is dependent upon the joint distribution of buyer values for the two products. We explore this relationship using controlled laboratory experiments. Our results indicate that the distribution of buyer values does affect prices in a manner consistent with the theoretical predictions, although price increasing competition is rare due in part to overly intense competition regardless of the distribution …
The Attack And Defense Of Weakest-Link Networks, Dan Kovenock, Brian Roberson, Roman M. Sheremeta
The Attack And Defense Of Weakest-Link Networks, Dan Kovenock, Brian Roberson, Roman M. Sheremeta
ESI Working Papers
This paper experimentally examines behavior in a two-player game of attack and defense of a weakest-link network of targets, in which the attacker‟s objective is to successfully attack at least one target and the defender‟s objective is diametrically opposed. We apply two benchmark contest success functions (CSFs): the auction CSF and the lottery CSF. Consistent with the theoretical prediction, under the auction CSF, attackers utilize a stochastic “guerilla warfare” strategy — in which a single random target is attacked — more than 80% of the time. Under the lottery CSF, attackers utilize the stochastic guerilla warfare strategy almost 45% of …
Durability, Re-Trading And Market Performance, John Dickhaut, Shengle Lin, David Porter, Vernon Smith
Durability, Re-Trading And Market Performance, John Dickhaut, Shengle Lin, David Porter, Vernon Smith
ESI Working Papers
Key differential structural characteristics of environments studied in previous market experiments have documented large divergences in their observed performance, particularly discrepancies in their convergence to expected equilibrium outcomes. We investigate why this should be so.
Does Unemployment Decrease Cancer Mortality?, Benjamin Torres Galick
Does Unemployment Decrease Cancer Mortality?, Benjamin Torres Galick
Economics Honors Projects
Recent research indicates that healthier lifestyles during recessions decrease the most common U.S. mortalities, but not cancer. However, they combine specific cancer mortalities with different progressions into one, possibly obscuring cancer’s link to unemployment. This paper estimates a fixed-effects regression model on unemployment and the nine most prevalent cancers between 1988 and 2002 using state-level panel data. Five cancers and total cancer are procyclical, and suggest that unemployment affects both incidence and gestation for some cancers. Consistent with the medical literature, this paper contradicts previous economic research and suggests that behavioral factors significantly impact cancer mortality.
The Effect Of Domestic Investment, Economic Growth And Human Development On Foreign Direct Investment Into China, Mike Paolino
The Effect Of Domestic Investment, Economic Growth And Human Development On Foreign Direct Investment Into China, Mike Paolino
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the relationship between foreign direct investment, domestic investment, human development, and economic growth, and uses the ordinary least squared technique, and a time series analysis using data for the period 1977-2007. The analysis seeks to answer the fundamental question of what impact Chinese domestic investment, economic growth, and human development has on foreign direct investment into the country. Research regarding foreign direct investment and its fundamental correlation with economic growth and domestic investment has produced varied results. This paper examines those variables, with the addition of human development variables, where research is partial. This paper seeks to …
The Effect Of Aid Dependency And Quality Of Institution In Alleviating Poverty In Ida Countries, Mahah Mirza
The Effect Of Aid Dependency And Quality Of Institution In Alleviating Poverty In Ida Countries, Mahah Mirza
Empirical Economic Bulletin, An Undergraduate Journal
Poverty alleviation has been a topic of much discussion ever since the Millennium Development Goals were set by World Bank in the 1990s. This paper examines to what extent aid dependency and quality of institution affect 31 IDA countries in achieving the first of eight MDG. The study provides evidence that although these IDA countries experience a decrease in poverty, it may not be enough to meet MDGs by 2015. Aid dependency increases the poverty level whereas some Quality of Institution indicators such as control of corruption, rule of law and regulatory quality have greater impact in reducing poverty than …
The Effect Of Aging Populations On Inflation, Andrew Stone
The Effect Of Aging Populations On Inflation, Andrew Stone
Empirical Economic Bulletin, An Undergraduate Journal
This research uses panel data of 66 high and middle income countries to examine the inflation effects of demographics. The primary objective of this research is to show that consumer prices change based on the amount of retired persons in a nation. The double log model used in this paper also includes interest rates and uses data from 1991-2007 in order to demonstrate the most recent demographic shifts. The results showing inflationary pressure coming from young retirees compliment the Modigliani life-cycle hypothesis that this age group consists of net consumers, while the deflationary pressures provided by the working aged population …
Effects Of Globalization On Income Inequality In High Income Countries, Craig Bradford
Effects Of Globalization On Income Inequality In High Income Countries, Craig Bradford
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the relationship between technology, trade liberalization, and financial globalization in incomes inequality, focusing on high income countries. We find that technological progress has a smaller effect on income inequality in high income countries than in middle and low income countries. It is also found that increases in the percentage of workers in the services industry decreases Income Inequality by a significant amount. The GINI index is used to measure the level of income inequality, and the Chinn-Ito index is used to measure the level of openness to capital investment.
The Relationship Between Housing Prices And Macroeconomic Factors In Spain, Garrett Fitzgerald
The Relationship Between Housing Prices And Macroeconomic Factors In Spain, Garrett Fitzgerald
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the effects of certain macroeconomic variables (i.e mortgages, inflation, and employment) on the price of houses in Spain. An error correction vector autoregressive (ECVAR) model is used to model the impact of the macroeconomic variables on real housing prices. Variance decompositions will be analyzed to determine the extent to which these variables have an effect on housing prices in Spain.
State Level Comparison Of Factors Contributing To Rising Inpatient Hospital Costs, Jeff Fontaine
State Level Comparison Of Factors Contributing To Rising Inpatient Hospital Costs, Jeff Fontaine
Empirical Economic Bulletin, An Undergraduate Journal
No abstract provided.
The Economic Benefits Of Education As A Return To Gdp Per Capita, Jonathan Brown
The Economic Benefits Of Education As A Return To Gdp Per Capita, Jonathan Brown
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines many different factors of education, including the levels of education received, the expenditures per student as well as for each level of education, and the measurement of unemployed with said levels of education as to how it affects the levels of GDP per capita. What is consistent across each regression is that in fact, the average years of education received by the population will most closely have a beneficial effect on the levels of GDP per capita. What these regressions also show are tendencies to look more towards the future rather than the past. When considering unemployment, …
Are Educated Women Less Likely To Get Married?, Qian Jiang
Are Educated Women Less Likely To Get Married?, Qian Jiang
Empirical Economic Bulletin, An Undergraduate Journal
In the past, there are some research indicate that highly educated women marry less. Because women tend to face the success penalty, however, a new analysis of U.S. census data indicates that--despite cultural messages to the contrary--the success gap, in which better educated women marry less, is actually shrinking. Using 2008 Current Population Survey, this paper utilized Probit regression to analyze how increase of women's educational attainment can influenced marriage and other aspects such as financial well-being. In addition, this study tries to estimate the best levels of education for women to be more likely to married.
The Effect Of Tax-Burdens On Foreign Direct Investment: A Cross-Sectional Look At Developing Economies, Kevin Hauver
The Effect Of Tax-Burdens On Foreign Direct Investment: A Cross-Sectional Look At Developing Economies, Kevin Hauver
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the effect that certain aspects of the tax burden have on foreign direct investment in developing economies. Using data from 35 select countries, the paper uses an OLS regression model to determine the impact that various taxes, both on individuals and corporations, can have on FDI. The paper concludes that corporate tax rates are not a statistically significant factor for determining FDI inflows into a host country, but that indirect tax rates are. This is likely due to the use of ‘enterprise zones’, which offer favorable indirect tax rates to companies that choose to operate in a …
The Impacts Of Energy Efficiency And Consumption On Gdp In The Euro Area, Justin T. Getts
The Impacts Of Energy Efficiency And Consumption On Gdp In The Euro Area, Justin T. Getts
Empirical Economic Bulletin, An Undergraduate Journal
This paper analyzes the aggregate data of the Euro Area to determine how GDP per unit of energy is affected by the use of common energy sources. Time series data from 1980 to 2005 is used to show the change in how energy is used compared to the growth of GDP. It is revealed in this paper that the consumption of efficient forms of energy is highly correlated to GDP growth and the use of inefficient energy sources leads to less growth.
The Effect Of Crime Rates On Home Prices: A Hedonic Study, John Paul Goncalves
The Effect Of Crime Rates On Home Prices: A Hedonic Study, John Paul Goncalves
Empirical Economic Bulletin, An Undergraduate Journal
The hedonic regression model in this study is from a Florida based study that has been applied on a national level. The results of this research will indicate the most significant variables which support the overall effect on the price of a home. The emphasis of this study is to examine the overall impact of crime rates on average home prices in America’s state capitals.
An Empirical Analysis Of The Impact Of Home Foreclosure On The Crime Rate: Evidence In Atlanta, Ga, Luis G. Acevedo
An Empirical Analysis Of The Impact Of Home Foreclosure On The Crime Rate: Evidence In Atlanta, Ga, Luis G. Acevedo
Empirical Economic Bulletin, An Undergraduate Journal
Over the past 28 years the United States has seen its share of prosperity and hard times. At times there have been significant increases in the number of subprime mortgages issued in the United States. Studies have shown that the number of foreclosures is highly correlated to the number of subprime loans issued. Another main issue that seems to occur with the abundance of loans and the spike in foreclosures is that crime rates tend to also increase during these times. The two major crimes that will be taken into account are violent crime and property crimes. I use foreclosure, …
Radio Spectrum And The Disruptive Clarity Of Ronald Coase, Thomas W. Hazlett, David Porter, Vernon Smith
Radio Spectrum And The Disruptive Clarity Of Ronald Coase, Thomas W. Hazlett, David Porter, Vernon Smith
ESI Working Papers
In the Federal Communications Commission, Ronald Coase exposed deep foundations via normative argument buttressed by astute historical observation. The government controlled scarce frequencies, issuing sharply limited use rights. Spillovers were said to be otherwise endemic. Coase saw that Government limited conflicts by restricting uses; property owners perform an analogous function via the “price system.” The government solution was inefficient unless the net benefits of the alternative property regime were lower. Coase augured that the price system would outperform. His spectrum auction proposal was mocked by communications policy experts, opposed by industry interests, and ridiculed by policy makers. Hence, it took …
Go West Young Man: Self-Selection And Endogenous Property Rights, Taylor Jaworski, Bart J. Wilson
Go West Young Man: Self-Selection And Endogenous Property Rights, Taylor Jaworski, Bart J. Wilson
ESI Working Papers
If, as Hume argues, property is a self-referring custom of a group of people, then property rights depend on how that group forms and orders itself. In this paper we investigate how people construct a convention for property in an experiment in which groups of self-selected individuals can migrate between three geographically separate regions. We find that the absence of property rights clearly decreases wealth in our environment and that interest in establishing property rights is a key determinant of the decision to migrate to a new region. Theft is nearly eliminated among migrants, resulting in strong growth, and non-migrants …
Determinants Of Gasoline Price: Can Consumer Spending Make A Difference?, Jonathan Stachelek
Determinants Of Gasoline Price: Can Consumer Spending Make A Difference?, Jonathan Stachelek
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the determinants to gasoline prices in the United States. The regression contains five different independent variables: the price of imported oil per barrel, the number of barrels of oil imported to the United States, the number of barrels of oil produced domestically in United States, the commodity price of oil, the number of automobiles purchased monthly in the United States, and the dependent variable, Gasoline Price. By using these variables in a linear regression model, the results show that the price of gasoline is primarily driven by the price of imported crude oil, followed shortly thereafter by …
Differing Immigrant Wages: Causes For Differences In Immigrants Standards Of Living, Sahana Zutshi
Differing Immigrant Wages: Causes For Differences In Immigrants Standards Of Living, Sahana Zutshi
Empirical Economic Bulletin, An Undergraduate Journal
This paper looks at the relationship between immigration workers and their differing standards of living based on various variables. The variables chosen were gender, place of origin/ethnicity, number of years living in the United States, education level and finally, the age of the immigrants. The model incorporates all these variables and then finds the connection between them and the earning status of the immigrants. The results show that gender and ethnicity often impact the earnings negatively whereas age, number of years living in the US and education level impact immigrant earnings positively.
Factors Affecting Health Care Spending, Jennifer Resende
Factors Affecting Health Care Spending, Jennifer Resende
Empirical Economic Bulletin, An Undergraduate Journal
With an aging population and an increase in health care spending across many nations, there is a need to determine what is affecting this increase and whether this trend can be expected to continue into the future. This paper aims to investigate the possible differences in health care expenditures in different countries. The study incorporates the use and analysis of several independent variables that are believed to affect health care spending in an array of countries including life expectancies, the increase in aging populations, health care spending on private sectors, and the quality of health care as represented by the …
The Social And Behavioral Factors That Affect Obesity In Oecd Countries, Sanjana Desai
The Social And Behavioral Factors That Affect Obesity In Oecd Countries, Sanjana Desai
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the factors that affect obesity in the population of the member countries of the Organization of Economic Co-operation and Development (OECD). This study incorporates existing information of the most likely variables that would influence obesity in these member countries for a decade (1990-2000). The study looks at contributing factors that are both innate and acquired, such as Alcohol Consumption, Low-birth weight, sugar consumption, smoking (consumption of tobacco), and protein intake and public and private expenditure on education. Using macro-level data from various sources, the results generally suggest that factors like alcohol consumption, low-birth weight and sugar consumption …