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Game Theory Meets The Humanities And Both Win Or Book Review: Game Theory And The Humanities: Bridging Two Worlds, By Steven J. Brams, Karl-Dieter Crisman

Journal of Humanistic Mathematics

This review discusses Brams' wide-ranging book Game Theory and the Humanities and gives some basic examples of the methodology and style, including how the Theory of Moves contributes to understanding such games.

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Contingent Valuation Methodology: Evaluation Of Benefits Of Improving Water Quality In The Lake Tai Region, Zongda Tu

Undergraduate Economic Review

Environmental economics is a relatively new field in the subject of economics. While the developing countries are growing and developing rapidly, the conflict between economic development and environmental preservation is becoming more and more irreconcilable. This methodology paper addresses the relationship between the water quality in the Lake Tai Region in China and economic benefits, and presents the contingent valuation methdology (CVM) to evaluate benefits.

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An Analysis Of A High School Dropout In The United States, Matthew Walsh

Empirical Economic Bulletin, An Undergraduate Journal

The study explores the socioeconomic factors that lead to a student dropping out of high school. Unlike other papers this study focuses on the whole United States and the three primary ethnic groups within the country. Data from the National Center for Education Statistics, is used to investigate the crisis facing the future of the American economy across all fifty states. The results show that socioeconomic differences are predictive in the probability of a high school student dropping out prior to graduation

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Demographics On Crime: A Look At The U.S.A., Nicolas Eceizabarrena

Empirical Economic Bulletin, An Undergraduate Journal

This study aims to identify how change in social indicators and demographics affect crime, more specifically, the number of aggravated assaults. As policy makers attempt to reduce crime to improve social conditions, changes to social indicator and demographic variables would allow quantifying these changes. This study uses a cross-sectional data set for the fifty states in the United States of America for the 2005 period.

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Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria

CBN Annual Report

Annual Report and Financial Statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2014. In general, 2014 has been a very eventful and challenging year for the Bank, the country, and the world at large. In the course of the year, the Bank underwent significant changes in its governance composition. In 2014, the global economy witnessed considerable vulnerabilities characterized by fragile growth and weak economic outlook. Global growth recovery was modest and continued to be threatened by strong downside risks, as a result of sharp drop in commodity prices, escalating geo-political tensions, and heightening threats …

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Socioeconomic Determinants Of Violent Crime Rates In The U.S., Jacob Gesin

Empirical Economic Bulletin, An Undergraduate Journal

This paper looks into socioeconomic factors affecting three racial groups within the United States, and the possibility of their effects on rates of violent crime. This study incorporates US census data in conjunction with FBI crime statistics in order to identify a correlation between select sociological variables experienced by different racial groups, and the rates of violent crime committed within those groups. Based on metropolitan areas by state for the year of 2012, the results of this study show that socioeconomic and family factors have a significant effect on violent crime rates regardless of race. Furthermore, violent crime rate gaps …

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Remittances And Economic Growth In Mexico: Long Term Implications, Sean Lambert

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the impact of remittances on economic growth by looking at time series data from 1960 to 2012 from the country of Mexico. Using the OLS method, these data will be analyzed to see what the long term impact of remittances have been on the growth rate of Mexico. Drawing from the heavily established literature in the field of growth economics, this paper attempts to show the relevance of such theory in the case of the well documented phenomenon of remittances. Mexico is the world’s fourth largest net recipient of remittance inflows and the third largest trading partner …

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The Effects Of The First Round Of Quantitative Easing On Stock Prices In The United States, William Manak

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the effects that the first round of the large-scale assert purchases known as Quantitative Easing (QE1) had on US stock prices. The paper focuses on the time period starting from the announcement of QE1 to before the second round of Quantitative Easing had been announced. This paper hopes to find a significant effect of stock prices in China as well as the exchange rate between the two countries, as the US and China are major trade partners. The effects of Chinese stocks and the exchange rate will be compared to the lower interest rates that had resulted …

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The Effect Of Extending Unemployment Insurance Benefits On Northeast State Unemployment Rates, Guillaume Sabourin

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the effect of changes in the length of unemployment benefits on the unemployment rates of 10 northeast US states. This study includes the most likely variables that would influence the unemployment rate during the time span preceding and following the recent recession. The study observes various contributing factors to unemployment including median income, state GDP, demographics, education, and the construction, manufacturing, and financial services rate for each state. Using state-level data from government sources and a fixed effects empirical model, results suggest that unemployment benefit extensions result in a small but statistically significant increase in the unemployment …

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Socioeconomic Determinants Of Obesity In The United States, Jonathan Skaza

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the socioeconomic determinants of obesity (as measured by BMI) in the United States. Logistic regression is employed on cross-sectional data from the 2011-2012 National Health and Nutrition Examination Survey (NHANES). The results show that, in general, holding other factors constant, individuals with a college diploma are less likely to be obese than those with a lesser education (except in extreme cases), married individuals are more likely to be obese than those that are not married, and females are more likely to be obese than males. Additionally, compared to white persons, Black and Hispanic persons have a greater …

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Determinants Of Foreign Direct Investment In Brazil, Matthew J. Duguay

Empirical Economic Bulletin, An Undergraduate Journal

This paper is a time series analysis of the determinants of foreign direct investment inflows regarding the country of Brazil over the past 34 years. Brazil has seen rapid change throughout their country over the past few decades, and it now is one of the most popular hosts for foreign investors. GDP growth, trade openness, taxes, political instability, energy imports, and inflation are all as possible significant determinants of FDI inflows in Brazil that this model analyzes. The results show that inflation, trade openness, and political instability are the most significant variables when it comes to understanding FDI inflows.

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The Effect Of Income Inequality On Happiness Levels, Spencer Carlin

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates and presents the impact of income inequality upon general levels of happiness. The study will examine the influence of the income gap upon life satisfaction. Incorporating information from OECD databanks and the World Bank into a standard model in happiness studies, we will examine the effect on nations measured Happy Life Years (HLY). After careful examination this study provides a conclusion that reinforces past studies. Income inequality has a consistent significant and negative impact on subjective well-being and happiness levels. The study contributes to the inequality happiness literature, by examining the effects of inequality on happiness amongst …

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Learning By Exporting In India, Stephanie Lizardi

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines learning by exporting, in which a firm experiences growth in productivity after entering export markets. The results of existing studies show conflicting evidence regarding whether productivity gains result from learning by exporting or whether productivity gains lead to exporting. This paper discusses the relationship between entering exporting markets and subsequent product innovation. Using data from nearly 6,000 firms in India, the results suggest that learning by exporting occurs when firms enter export markets, but only during the first year.

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Determinants Of Health In South American Countries, Andres Pernia

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates, analyzes, and expands the relationship between under-five mortality and socioeconomic and health system factors. The study utilizes fixed effect panel data to estimate the determinants of under-five mortality in 12 counties across South America. As expected, the results show that GDP per capita is statistically significant and is robust in all of the estimated models. In addition, improved sanitation, gender equality, access to improved sanitation facilities, provision of primary education, and governance are also statistically significant and have positive effect on child mortality.

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Infant Mortality And Macroeconomic Changes In Latam, Daniel Mujica

Empirical Economic Bulletin, An Undergraduate Journal

This paper would analyze the effects that economic indicators have over mortality rates in Latin America. Hence, the purpose would be to represent the drives of changes in mortality. This will be achieved by undergoing a thorough analysis of correlated variables that will create a significant outcome over this important problem that emerging countries in Latin America need to solve in order to achieve long term economic and social prosperity.

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Institutions And Economic Growth In Bric Nations, Doug Flink

Empirical Economic Bulletin, An Undergraduate Journal

This paper looks at the impact of institutions on economic growth in the six largest countries in BRIC countries, Brazil, Russia, India, and China. The study will us OLS to examine the time period between the years 2002 and 2011. More specifically, it will measure the effect of institutions through a variety of measures including democracy and regulatory related variables. Through ordinary least squares regression analysis, the variables for democracy and regulation will be significant and have a positive effect on economic growth. This study will show that quality of institution does in fact support economic growth.

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The Effect Of Immigration Status On Income In Southern States Of The United States, Camila Espinal

Empirical Economic Bulletin, An Undergraduate Journal

According to the U.S census Bureau, in 2013 nearly a third of the U.S population are immigrants and 7.7/189 million are illegal. I will develop an econometric model to show the effect of immigration status Income. The ultimate goal of the paper will be to demonstrate the significance of immigration status on an Individual’s income. This paper will analyze if a person’s immigration status has a significant effect on the individual’s average wage and salary by focusing on three major high immigration density states: California, Florida, and Texas. The paper will focus on Hispanic immigrants to ultimately determine if immigration …

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Determinants Of Healthcare Expenditure In The Organization For Economic Cooperation (Oecd) Countries, Harry Waterton

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the factors that determine the expenditure in healthcare within the Organization for Economic Co-Operation and Development (OECD) countries. The study will contain and be based around a regression model, using healthcare expenditure per capita as the dependent variable, for 10 of the 34 OECD countries. The data that will be analyzed ranges from 2000 to 2010 using the panel data analysis format, and will be extracted from the World Bank and OECD statistics websites.

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The Relationship Between Crime And Unemployment In China, Kuan Lu

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the relationship between crime and unemployment in China. The study incorporates the information, including data of the current crime rate, unemployment rate, income level, GDP growth, Gini index and urbanization rate, into a linear regression model to examine the influence of the unemployment rate on crime in China. The crime in China is measured by crime rate, which includes six specific types of crimes: homicide, assault, rape, robbery, theft and burglary. The results show that there is a positive relationship between crime and unemployment in China. When there is an increase in the unemployment rate, crime rate …

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The Impact Of Fdi And Trade Openness On The Economic Growth Of The Transition Economies, Regina Castro

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines effects of FDI inflows and trade openness on economic growth of three former Soviet Union economies: Kazakhstan, Armenia and Ukraine. The study uses a regression model that incorporates data sets for the period from 1992 to 2011 obtained from the World Bank. The regression result indicates that FDI inflows are positively correlated to the economic growth of the transition economies. However, impact of FDI would vary for each specific country depending on the degree of capacity of the host country to use FDI efficiently. Trade openness has also a positive effect on the real GDP per capita …

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The Predictive Power Of Commodity Futures Prices On South American Equity Markets, Aadithyan Manivannan

Empirical Economic Bulletin, An Undergraduate Journal

The purpose of this paper is to examine the relationship between the futures United States futures market the returns on the South American stock market. In particular the paper focuses on three key commodities—industrial sugar, copper, and coffee. The study looks into methods to isolate the effect of the United States commodity market from the returns of the equity exchanges in both the United States and South America. Once isolated, the relationship between the selected commodities and South American stock market returns can be estimated through quantitative analysis.

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Elections And Asset Pricing: The Politically Sensitive Equity Of Us Military Contractors, Matthew Mark Ross

Wayne State University Dissertations

I quantify the relationship between political uncertainty and equity volatility in the months around US elections from 1989-2012. The Economic Policy Uncertainty Index and Stockholm International Peace Research Institute (SIPRI) data are employed to measure political uncertainty faced by military contractors, capitalizing on the unique monopsony-oligopoly business environment of these firms. I employ a GARCH (1,1) model with cross-sectionally correlated moments to produce daily firm-election volatility measures. Volatility increases 11% for local, 27% for midterm, and 43% for presidential elections. These measures demonstrate that all election categories: local, federal, presidential, and midterm exhibit differential effects on equity volatility. My results …

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Understanding The Distributional Impact Of Long-Run Inflation, Gabriele Camera, Yili Chen

Economics Faculty Articles and Research

The impact of fully anticipated inflation is systematically studied in heterogeneous agent economies with an endogenous labor supply and portfolio choices. In stationary equilibrium, inflation nonlinearly alters the endogenous distributions of income, wealth, and consumption. Small departures from zero inflation have the strongest impact. Three features determine how inflation impacts distributions and welfare: financial structure, shock persistence, and labor supply elasticity. When agents can self-insure only with money, inflation reduces wealth inequality but may raise consumption inequality. Otherwise, inflation reduces consumption inequality but may raise wealth inequality. Given persistent shocks and an inelastic labor supply, inflation may raise average welfare. …

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The Sharing Economy: Exploring The Intersection Of Collaborative Consumption And Capitalism, Ellyn E. Erving

Scripps Senior Theses

This thesis explores how the sharing economy in America combines Collaborative Consumption ideas and social values with capitalist business models to make a profit. I discuss definitions of terms associated with the sharing economy, economic anthropological theories and case studies, as well as company and consumer motivations in sharing economy companies.

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The Responsiveness Of Migration To Labor Market Conditions, Preston M. Brashers

Theses and Dissertations--Economics

This dissertation explores how migration responds to economic conditions, particularly differences in responsiveness for various segments of the population. After a brief introduction and motivation of my work in Chapter One, Chapter Two estimates the responsiveness of households’ interstate migration to origin state labor market conditions and surrounding state labor market conditions. Each percentage point increase in origin state unemployment insurance claims leads to a 3.2 percent increase in household’s propensity to migrate interstate and each percentage point increase in the unemployment insurance claims rate of surrounding states reduces interstate migration propensity by 5.2 percent. I then examine how this …

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The Costs Of Conflict, Adam Smith

Economics Department Faculty Publications & Research

Violent conflict destroys resources. It generates "destruction costs." These costs have an important effect on individuals’ decisions to cooperate or conflict. We develop two models of conflict: one in which conflict’s destruction costs are independent of individuals’ investments in "arms"—the tools of conflict—and another in which conflict’s destruction costs depend on those investments. Our models demonstrate that when conflict’s destruction costs are arms-dependent, conflict is more costly, making cooperation more likely. We test this prediction with a laboratory experiment in which subjects first choose how heavily to invest in arms and then choose whether to cooperate or conflict in an …

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Historical Overview, Maksim Storchevoi, Jeffrey K. Hass

Sociology and Anthropology Faculty Publications

The goal of this chapter is to discuss key values and archetypes of Russian culture that have developed over several centuries of Russian history. This fundamental introduction is important because these values and archetypes have successfully manifested themselves through various institutions of the Russian Empire, the Soviet Union and post-Soviet Russia. What are they and what are their roots? Answers to these questions can help us better understand Russian economic and business culture that shapes the behaviour of entrepreneurs, investors and employees in the current economy, and also political and legal traditions that play enormous roles in establishing and running …

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Predictable And Predictive Emotions: Explaining Cheap Signals And Trust Re-Extension, Eric Schniter, Roman M. Sheremeta

ESI Publications

Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even more puzzling to economists and biologists is the observation that anonymous and unrelated individuals, known to have breached trust, often make effective use of cheap signals, such as promises and apologies, to encourage trust re-extension. We used a pair of trust games with one-way communication and an emotion survey to investigate the role of emotions in regulating the propensity to …

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Divided Loyalists Or Conditional Cooperators? Creating Consensus About Cooperation In Multiple Simultaneous Social Dilemmas, Matthew W. Mccarter, Anya Samek, Roman M. Sheremeta

ESI Publications

The current social dilemma literature lacks theoretical consensus regarding how individuals behave when facing multiple simultaneous social dilemmas. The divided-loyalty hypothesis, from organizational theory, predicts that cooperation will decline as individuals experience multiple social dilemmas with different compared to the same group members. The conditional-cooperation hypothesis, from behavioral economics, predicts that cooperation will increase as individuals experience multiple social dilemmas with different compared to the same group members. We employ a laboratory experiment to create consensus between these literatures and find support for the conditional-cooperation hypothesis. The positive effect of interacting with different group members comes from participants having an …

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Decision Making In A Sequential Game: The Case Of Pitting In Nascar, Alan Deck, Cary Deck, Zhen Zhu

ESI Publications

This article uses data from NASCAR to examine strategic decision making with professional players and high stakes. The authors look at driver decisions to pit, enabling car performance to be improved at the cost of track position. Unlike other sports choices that have been used to test game-theoretic play, pitting decisions occur sequentially. Therefore, optimal decision making should result in the sub-game perfect equilibrium outcome. After estimating the likelihood of successfully passing another driver, the authors find some evidence that drivers make optimal decisions; however, driver behavior is also consistent with a simple heuristic of following the preceding car.

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Full-Text Articles in Other Economics

Game Theory Meets The Humanities And Both Win Or Book Review: Game Theory And The Humanities: Bridging Two Worlds, By Steven J. Brams, Karl-Dieter Crisman

Journal of Humanistic Mathematics

Contingent Valuation Methodology: Evaluation Of Benefits Of Improving Water Quality In The Lake Tai Region, Zongda Tu

Undergraduate Economic Review

An Analysis Of A High School Dropout In The United States, Matthew Walsh

Empirical Economic Bulletin, An Undergraduate Journal

Demographics On Crime: A Look At The U.S.A., Nicolas Eceizabarrena

Empirical Economic Bulletin, An Undergraduate Journal

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria

CBN Annual Report

Socioeconomic Determinants Of Violent Crime Rates In The U.S., Jacob Gesin

Empirical Economic Bulletin, An Undergraduate Journal

Remittances And Economic Growth In Mexico: Long Term Implications, Sean Lambert

Empirical Economic Bulletin, An Undergraduate Journal

The Effects Of The First Round Of Quantitative Easing On Stock Prices In The United States, William Manak

Empirical Economic Bulletin, An Undergraduate Journal

The Effect Of Extending Unemployment Insurance Benefits On Northeast State Unemployment Rates, Guillaume Sabourin

Empirical Economic Bulletin, An Undergraduate Journal

Socioeconomic Determinants Of Obesity In The United States, Jonathan Skaza

Empirical Economic Bulletin, An Undergraduate Journal

Determinants Of Foreign Direct Investment In Brazil, Matthew J. Duguay

Empirical Economic Bulletin, An Undergraduate Journal

The Effect Of Income Inequality On Happiness Levels, Spencer Carlin

Empirical Economic Bulletin, An Undergraduate Journal

Learning By Exporting In India, Stephanie Lizardi

Empirical Economic Bulletin, An Undergraduate Journal

Determinants Of Health In South American Countries, Andres Pernia

Empirical Economic Bulletin, An Undergraduate Journal

Infant Mortality And Macroeconomic Changes In Latam, Daniel Mujica

Empirical Economic Bulletin, An Undergraduate Journal

Institutions And Economic Growth In Bric Nations, Doug Flink

Empirical Economic Bulletin, An Undergraduate Journal

The Effect Of Immigration Status On Income In Southern States Of The United States, Camila Espinal

Empirical Economic Bulletin, An Undergraduate Journal

Determinants Of Healthcare Expenditure In The Organization For Economic Cooperation (Oecd) Countries, Harry Waterton

Empirical Economic Bulletin, An Undergraduate Journal

The Relationship Between Crime And Unemployment In China, Kuan Lu

Empirical Economic Bulletin, An Undergraduate Journal

The Impact Of Fdi And Trade Openness On The Economic Growth Of The Transition Economies, Regina Castro

Empirical Economic Bulletin, An Undergraduate Journal

The Predictive Power Of Commodity Futures Prices On South American Equity Markets, Aadithyan Manivannan

Empirical Economic Bulletin, An Undergraduate Journal

Elections And Asset Pricing: The Politically Sensitive Equity Of Us Military Contractors, Matthew Mark Ross

Wayne State University Dissertations

Understanding The Distributional Impact Of Long-Run Inflation, Gabriele Camera, Yili Chen

Economics Faculty Articles and Research

The Sharing Economy: Exploring The Intersection Of Collaborative Consumption And Capitalism, Ellyn E. Erving

Scripps Senior Theses

The Responsiveness Of Migration To Labor Market Conditions, Preston M. Brashers

Theses and Dissertations--Economics

The Costs Of Conflict, Adam Smith

Economics Department Faculty Publications & Research

Historical Overview, Maksim Storchevoi, Jeffrey K. Hass

Sociology and Anthropology Faculty Publications

Predictable And Predictive Emotions: Explaining Cheap Signals And Trust Re-Extension, Eric Schniter, Roman M. Sheremeta

ESI Publications

Divided Loyalists Or Conditional Cooperators? Creating Consensus About Cooperation In Multiple Simultaneous Social Dilemmas, Matthew W. Mccarter, Anya Samek, Roman M. Sheremeta

ESI Publications

Decision Making In A Sequential Game: The Case Of Pitting In Nascar, Alan Deck, Cary Deck, Zhen Zhu

ESI Publications