Other Economics Commons^™

Co-Enforcement Of Common Pool Resources: Experimental Evidence From Turfs In Chile, Carlos A. Chávez, James J. Murphy, John K. Stranlund

ESI Working Papers

This work presents the results of framed field experiments designed to study the co-enforcement of access to common pool resources. The experiments were conducted in the field with participants in the territorial use rights in fisheries (TURFs) management scheme that regulates access to nearshore fisheries along the coast of Chile. In the experiments, TURF members not only decided on harvest but also invested in monitoring to deter poaching by outsiders. Treatments varied whether the monitoring investment was an individual decision or determined by a group vote. Per-unit sanctions for poaching were exogenous as if provided by a government authority, and …

Kinship Ties Across The Lifespan In Human Communities, Jeremy Koster, Dieter Lukas, David Nolin, Eleanor Power, Alexandra Alvergne, Ruth Mace, Cody T. Ross, Karen Kramer, Russell Graves, Mark Caudell, Shane Macfarlan, Eric Schniter, Robert Quinlan, Siobhan Mattison, Adam Reynolds, Chun Yi-Sim, Eric Massengill

ESI Publications

A hypothesis for the evolution of long post-reproductive lifespans in the human lineage involves asymmetries in relatedness between young immigrant females and the older females in their new groups. In these circumstances, inter-generational reproductive conflicts between younger and older females are predicted to resolve in favor of the younger females, who realize fewer inclusive fitness benefits from ceding reproduction to others. This conceptual model anticipates that immigrants to a community initially have few kin ties to others in the group, gradually showing greater relatedness to group members as they have descendants who remain with them in the group. We examine …

Nonlinear Price Dynamics Of S&P 100 Stocks, Gunduz Caginalp, Mark Desantis

ESI Publications

The methodology presented provides a quantitative way to characterize investor behavior and price dynamics within a particular asset class and time period. The methodology is applied to a data set consisting of over 250,000 data points of the S&P 100 stocks during 2004-2018. Using a two-way fixed-effects model, we uncover trader motivations including evidence of both under- and overreaction within a unified setting. A nonlinear relationship is found between return and trend suggesting a small, positive trend increases the return, while a larger one tends to decrease it. The shape parameters of the nonlinearity quantify trader motivation to buy into …

Better Understanding Human Capital In West Virginia, Christiadi, John Deskins

Bureau of Business & Economic Research

No abstract provided.

Natural Gas Investment In West Virginia, 2010-2016, Eric Bowen

Bureau of Business & Economic Research

West Virginia’s natural gas boom began in 2010 as hydraulic fracturing and horizontal drilling techniques began to be applied to the state’s shale formations. Since then, West Virginia has become the nation’s ninth-largest natural gas producer in 2017, with gross withdrawals of more than 1.6 trillion cubic feet. Since the gas boom started, the natural gas industry has made considerable investments in the state to pay for well drilling, mineral royalties, and pipeline infrastructure, among other investment costs. In this report, we estimate these investments in two key areas: upstream costs and midstream infrastructure.

The Effect Of Social Information In The Dictator Game With A Taking Option, Tanya O'Garra, Valerio Capraro, Praveen Kujal

ESI Working Papers

We experimentally study how redistribution choices are affected by positive and negative information regarding the behaviour of a previous participant in a dictator game with a taking option. We use the strategy method to identify behavioural ‘types’, and thus distinguish ‘conformists’ from ‘counter-conformists’, and unconditional choosers. Unconditional choosers make up the greatest proportion of types (about 80%) while only about 20% of subjects condition their responses to social information. We find that both conformity and counter-conformity are driven by a desire to be seen as moral (the ‘symbolization’ dimension of moral identity). The main difference is that, conformity is also …

Cournot Marked The Turn From Classical To Neoclassical Thinking, Vernon L. Smith, Sabiou M. Inoua

ESI Working Papers

For classical economists, markets served the highest value buyers without anyone in the market needing to know that it was possible to write aggregate buyer reservation prices in the form, D = F (p). Cournot, thereby launched neoclassical economics as modelling and thinking of economic action in terms of their outcome effects, rather than their roots in human experience.

Classical Economics: Lost And Found, Sabiou M. Inoua, Vernon Smith

ESI Working Papers

"We argue that neoclassical value theory suffers from a more basic and serious logical indeterminacy, which is inherent in the axiom of price-taking behavior, and which renders price dynamics indeterminate before inquiring as to its stability. If everyone in the economy takes price as given, whence come these prices? Who is giving these prices? Jevons avoided the indeterminacy by assuming that people must have complete information on supply and demand, and the consequent equilibrium prices—‘perfect competition.’ Walras in effect imported an external agent who found the prices by trial-and-error-correction (the Walrasian Auctioneer). Paradoxically, both approaches had the potential better to …

God And Governance: Reflections On Living In The Belly Of The Beast, Peter Mclaren

Education Faculty Articles and Research

In this critical rage article, Peter McLaren unleashes his revolutionary critique aimed at capitalist injustice behind postdigital socio-technological developments, historical forms of injustice such as racism and colonialism, and recent political events and developments including but not limited to US interventions in Latin America and the presidency of Donald Trump. Rising from two important prongs of McLaren’s work—revolutionary critical pedagogy and liberation theology—the article connects myth, religion, science, politics, technology, and humanity. The article reveals McLaren’s most intimate thoughts and experiences and aligns them with sophisticated theory and philosophy. It dances between the individual and the collective, the realistic and …

Review Of Creditworthy: A History Of Consumer Surveillance And Financial Identity In America, Lynne Doti

Economics Faculty Articles and Research

A book review of Josh Lauer's Creditworthy: A History of Consumer Surveillance and Financial Identity in America.

Commentary: Reflections On Decision Research And Its Empiricism: Four Comments Inspired By Harrison, Nathaniel T. Wilcox

ESI Publications

"Generally I find Harrison's chapter cogent, interesting, and well-informed in details and particulars, and so do not speak of them. Instead, I reflect on four larger matters Harrison brings to my mind. These four matters are presented below as four separate sections, to be read as four separate and short comments (though the four sections do share a few threads)."

Essays On Interplay Between Economics And Culture, Ishita Tripathi

LSU Doctoral Dissertations

This dissertation constitutes of two distinct essays on the influence of terrorism on individual perception and belief formation. In the first study, using micro-level data from 32 European countries, we find that an increase in terrorist activities by foreign perpetrators instigates negative sentiments towards immigrants. But the intensity of this adverse impact of terrorism decreases with time. Additionally, our analysis reveals that the effect of terrorism varies across individuals depending on various socio-economic attributes. Terrorism has a stronger negative influence on the residents, if their own country hosts relatively larger number of migrants. Individuals are not affected by terrorist attacks …

Enabling Electric Storage Participation In Wholesale Markets: An Analysis Of Ferc Order No. 841, Glenn A. Smith

Master of Science in Energy Systems Management

This study has been performed to understand the potential impact that the Federal Energy Regulatory Commission’s (FERC) Order No. 841 will have on the adoption of energy storage resources (ESR). This analysis looked at: (1) the Order’s requirements, (2) FERC’s exercise of its authorized jurisdiction within the Order, and (3) actions taken by the Regional Transmission Organizations (RTO), Independent System Operators (ISO) and FERC to demonstrate compliance with the Order’s requirements:

Order No. 841 utilizes a participation model to ensure ESR’s are able to participate in wholesale electricity markets to an extent that is reflective of a resource’s physical and …

Enabling Electric Storage Participation In Wholesale Markets: An Analysis Of Ferc Order No. 841, Glenn A. Smith

Master's Projects and Capstones

This study has been performed to understand the potential impact that the Federal Energy Regulatory Commission’s (FERC) Order No. 841 will have on the adoption of energy storage resources (ESR). This analysis looked at: (1) the Order’s requirements, (2) FERC’s exercise of its authorized jurisdiction within the Order, and (3) actions taken by the Regional Transmission Organizations (RTO), Independent System Operators (ISO) and FERC to demonstrate compliance with the Order’s requirements:

Order No. 841 utilizes a participation model to ensure ESR’s are able to participate in wholesale electricity markets to an extent that is reflective of a resource’s physical and …

Monetary Equilibrium And The Cost Of Banking Activity, Paola Boel, Gabriele Camera

ESI Working Papers

We investigate the effects of banks’ operating costs on allocations and welfare in a low interest rate environment. We introduce an explicit production function for banks in a microfounded model where banks employ labor resources, hired on a competitive market, to run their operations. In equilibrium, this generates a spread between interest rates on loans and deposits, which naturally reflects the underlying monetary policy and the efficiency of financial intermediation. In a deflation or low inflation environment, equilibrium deposits yield zero returns. Hence, banks end up soaking up labor resources to offer deposits that do not outperform idle balances, thus …

The Impact Of Cleft Lip/Palate And Clp Surgical Intervention On The Social Integration Of Adolescents In India, Mustafa Zahid

Master's Theses

Cleft Lip/Palate, a congenital orofacial anomaly, carries an incidence rate of approximately 1 in every 1000 births. In addition to the stigma associated with the condition, the varying levels of cleft severity might result in lower life outcomes which could include lower cognitive ability, physical and psychological well-being, social and behavioral outcomes of adolescents. This paper focuses on the social integration element of life outcomes, which is composed of the social inclusion and prosocial behavior of the adolescent. Despite the affordability of restorative surgeries, patients in rural areas of Low and Middle-Income Countries (LMICs) such as India face accessibility and …

Connecticut Waterfront Property Premium In Areas With Flood Risk, Conor O'Donnell

Honors Scholar Theses

This paper investigates the premium paid for waterfront property along the Connecticut shoreline and how that premium is affected by its vulnerability to coastal flooding as measured by its location relative to the FEMA 100-year and 500-year flood zones. The primary analysis is a comparison of the rate of appreciation of properties within each flood zone relative to coastal properties outside the flood-zone. An analysis of the impact of Super Storm Sandy in 2012 on the appreciation rate is also presented. It is hypothesized that the rate of appreciation of properties within the 100-year flood zone is lower following Hurricane …

Establishing Cryptocurrency Equilibria Through Game Theory, Carey Caginalp, Gunduz Caginalp

ESI Publications

We utilize optimization methods to determine equilibria of cryptocurrencies. A core group, the wealthy, fears the loss of assets that can be seized by a government. Volatility may be influenced by speculators. The wealthy must divide their assets between the home currency and the cryptocurrency, while the government decides the probability of seizing a fraction the assets of this group. We establish conditions for existence and uniqueness of Nash equilibria. Also examined is the separate timescale problem in which the government policy cannot be reversed, while the wealthy can adjust their allocation in reaction to the government’s designation of probability.

Dependability Of Referees’ Decision Making On Discretionary Penalties In The Nfl, Anthony Stefanidis

Theses and Dissertations

This paper predicts the possibilities of specific penalty types occurring, using a logistic regression model, and evaluates whether there is any possible bias towards teams by referees' decision making. Using penalties that occurred from 2009 until 2018, there seems to be a bias towards teams which are part of larger markets. How successful the team is and how famous some of the players are can also possibly affect the odds of a referee making a penalty call. Due to how underdeveloped the area of research is, there are many ways to expand it to essentially bring further light to whether …

The Quality Of Xbrl Structured Financial Statements: An Empirical Examination Of Custom Tags, Aidana Razhap Kyzy

Theses and Dissertations

In 2009 the US Securities and Exchange Commission (SEC) adopted the eXtensible Business Reporting Language (XBRL) system to improve the process by which financial statements can be used. Interactive financial data filed with the SEC using XBRL provides easily readable and comparable financial data, thereby improving transparency and efficiency in the corporate market. SEC rules permit companies to use custom tags in their financial reports in cases when an appropriate element cannot be found in the Financial Accounting Standards Board (FASB) standard XBRL taxonomy. The inordinate use of custom tags may result in a reduction of financial report quality by …

Box Office Showdown: How Does Movie Market Saturation Affect First Weekend Box Office Revenues?, Matthew Steele

Economics Honors Projects

The scheduling of release dates for feature films is among the most important decisions that movie studios make in the life cycle of a movie. While the economic literature on the movie industry has largely focused on modeling the box office success of a movie based on its own characteristics—star power, critical reception, and trailer data—there is a dearth of literature concerning the way that competition from within the industry affects box office revenues. This article primarily uses a propensity score matching model to fill a gap in the literature, establishing causal relationships between different forms of competition and first …

For-Profit Prisons: How Lobbying Has Affected The Way America Houses Prisoners, Jacob F. Israel

Political Science Theses and Capstones

There seems to be limited research and understanding as to why for-profit prisons exist in the United States. The initial selling points used to sell private prisons to states and counties were that they would reduce recidivism and cost. Recent peer-reviewed studies have found, however, that neither are the case. This could lead one to ask why for-profit prisons are still used in America. That is what I hope to answer in this research paper. After research and analysis of campaign donations by the two largest for-profit prison corporations (collected from the National Institute on Money in State Politics) and …

Understanding Maternal Mortality In The United States, Alexis Whellan

Renée Crown University Honors Thesis Projects - All

Background and Purpose: The maternal mortality rate in the United States is uncharacteristically high for a developed nation. Despite a concerted effort to participate in decreasing maternal mortality rates internationally as part of the United Nation’s Millennium Development Goals, the United States has failed many of its mothers when it comes to positive maternal health outcomes. The quality of health care in the United States is comparable to other developed nations, suggesting that the unusually high maternal mortality rate is not due to physician error and lack of proper physician techniques and rather due to social variables. There are many …

Differences In Tsimane Children’S Growth Outcomes And Associated Determinants As Estimated By Who Standards Vs. Within-Population References, Melanie Martin, Aaron Blackwell, Hillard Kaplan, Michael Gurven

Economics Faculty Articles and Research

Anthropometric measures are commonly converted to age stratified z-scores to examine variation in growth outcomes in mixed-age and sex samples. For many study populations, z-scores will differ if calculated from World Health Organization (WHO) growth standards or within-population references. The specific growth reference used may influence statistical estimates of growth outcomes and their determinants, with implications for biological inference. We examined factors associated with growth outcomes in a sample of 152 Tsimane children aged 0–36 months. The Tsimane are a subsistence-scale population in the Bolivian Amazon with high rates of infectious disease and growth faltering. To examine the influence of …

Socioeconomic Influences Of Property Crime Rates: A Study In Virginia’S Counties, Mary Passley

Undergraduate Theses and Capstone Projects

Most research on factors and causes of crime, whether property or violent crime, focuses on individuals’ behavior or their surrounding environment. In this research, I explore the idea of socioeconomic factors correlated to property crime. I conducted a retrospective design to fully explore United States Census data and crime data gathered by the Bureau of Justice Statistics to discover statistically significant variables connected to property crime. Significant findings were shown by average people per house and retail sales per capita in all counties. Additional significant findings were percent employment change and percent with high school degree or higher in low …

Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley

Student Scholar Showcase

Most research on factors and causes of crime, whether property or violent crime, focuses on individuals’ behavior or their surrounding environment. In this research, I explore the idea of socioeconomic factors correlated to property crime. I conducted a retrospective design to fully explore United States Census data and crime data gathered by the Bureau of Justice Statistics to discover statistically significant variables connected to property crime. Significant findings were shown by average people per house and retail sales per capita in all counties. Additional significant findings were percent employment change and percent with high school degree or higher in low …

Do Economic Inequalities Affect Long-Run Cooperation & Prosperity?, Gabriele Camera, Cary Deck, David Porter

ESI Working Papers

We explore if fairness and inequality motivations affect cooperation in indefinitely repeated games. Each round, we randomly divided experimental participants into donor-recipient pairs. Donors could make a gift to recipients, and ex-ante earnings are highest when all donors give. Roles were randomly reassigned every period, which induced inequality in ex-post earnings. Theoretically, income-maximizing players do not have to condition on this inequality because it is payoff-irrelevant. Empirically, payoff-irrelevant inequality affected participants’ ability to coordinate on efficient play: donors conditioned gifts on their own past roles and, with inequalities made visible, discriminated against those who were better off.

Updated Tables And Figures For Ec 844 Nebraska Wheat Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

Updated Tables And Figures For Ec 846 Nebraska Cash Corn Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

Updated Tables And Charts For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.