Other Economics Commons^™

Discrete Rule Learning In First Price Auctions, Jason Shachat, Lijia Wei

ESI Working Papers

We present a hidden Markov model of discrete strategic heterogeneity and learning in first price independent private values auctions. The model includes three latent bidding rules: constant absolute mark-up, constant percentage mark-up, and strategic best response. Rule switching probabilities depend upon a bidder's past auction outcomes and a myopic reinforcement learning dynamic. We apply this model to a new experiment that varies the number of bidders and the auction frame between forward and reverse. We find the proportion of bidders following constant absolute mark-up increases with experience, and is higher when the number of bidders is large. The primary driver …

Economic Empowerment Through Art, Ava Ellis

Thinking Matters Symposium

Economic Empowerment Through Art: Final Abstract

Ava Ellis, Shaw Innovation Fellow, USM, MSW graduate student

My research project focused on using drawing and one-to-one art workshops as a way into discussing money habits. Participants shared their beliefs about money and responses to questions about money. They considered ways they may want to alter habits related to money within the 1 hour workshop, art was used as a scaffold to envision future-oriented economic goals. Participants mentioned uncertainty regarding financial planning and a lack of education regarding money in childhood. All felt they often needed more financial insight, in terms of developing …

The Death Of Volunteerism In America And The True Cost To Society, John R. Ash

Pennsylvania Economic Review

Communities throughout the United States face a public safety concern in providing fire protection and emergency medical services (EMS) due to the nationwide decline in volunteerism. Two-thirds of the nation’s 30,000 fire departments are volunteer-run, and since 2015, the number of volunteer firefighters has declined from 814,850 to 682,600. EMS organizations face an equally daunting dilemma with up to a 55% attrition rate in emergency medical technicians and paramedics. Pennsylvania has been especially hard hit. Benjamin Franklin founded the first volunteer fire department in the nation in Pennsylvania. In this state, the number of volunteer firefighters has dropped from a …

Optimal Contest Design When Policing Damaging Behavior, Scott M. Gilpatric, Ye Hong

Economics Faculty Publications and Presentations

Abstract

Revisit The Moving Average Technical Trading Rule For The Nasdaq Composite Index, Louie Ren, Peter Ren, Jeffrey Yi-Lin Forrest

Pennsylvania Economic Review

We check the regression model assumptions via residual analysis using one dummy variable for Buy and Sell Days. Since the returns of the NASDAQ composite index is not stationary, it is inappropriate to use the Student T-test on Buy and Sell Days to analyze the efficiency of the market via moving average technical trading rules. As such, the Buy-Sell Days from the moving average trading rules have no predictability on daily NASDAQ index returns. This refutes the results of at least two studies on the NASDAQ Composite Index.

The Relationship Between Economic Policy Uncertainty And Stock Market Volatility, Jadesola Alatishe, M Halim Dalgin, Necati Tekatli

Pennsylvania Economic Review

This paper studies the relationship between the economic policy uncertainty and the stock market volatility. On a daily basis, stock prices react to news about what governments around the world plan to do or have done. As economic policy uncertainty is expected to be priced in the stock market, the relationship between economic policy uncertainty and financial markets can reveal investors' assessments of how policy risks impact economic activity into the future, conveniently summarized in present value terms. In this paper, we hope to unravel how an uncertain economic policy climate affects the stock market dynamics. Our results indicate that …

It Doesn’T Pay To Be Purple: An Empirical Test Of Pork Barrel Spending And Congressional Delegation Homogeneity, M. Garrett Roth, Zachary Klingensmith

Pennsylvania Economic Review

This paper presents empirical evidence that pork barrel spending, as a best proxy for targeted spending through legislative coalition formation, is significantly affected by the party homogeneity among congresspersons of a given state. Moreover, the magnitude of homogeneity, when measured as uniform or non-uniform, carries larger magnitude than a state delegation’s congruence in either chamber with the current majority party. The result suggests that coalition value is a major motivator of U.S. congressional budgeting.

Fiscal Decentralization And Economic Performance In Selected Developing Federal Econom, Samuel Onyeka Okonkwo, Walter Okwudili Ugwuoke Phd

Bullion

Extant literatures on fiscal decentralization in most developing countries show more concerns on revenue allocation principle/sharing. Contrary to extant studies, this paper undertakes analysis of fiscal decentralization and economic performance in five emerging federal economies. The curiosity is to ascertain if poor economic performance in most emerging economies could be attributed to ill - structured fiscal decentralization. This objective was addressed using Panel Vector Autoregressive technique and impulse response function. The results showed that all the measures of fiscal decentralization such as revenue measure denoted as (FDC1), spending measure denoted as (FDC2) and revenue — spending measure or Simultaneity measure …

Household Demand For Food Prepared At Home And Food Away From Home In Indonesia, Ratih Damayanti, Chaikal Nuryakin, Pyan Amin Muchtar

Economics and Finance in Indonesia

This study aims to analyze the demand for food among Indonesian households, consisting of foods prepared at home (FPAH) and food away from home (FAFH). Utilizing longitudinal data from the National Socioeconomic Survey 2011-2013, combined with the Village Potential Statistics, the study estimates the demand with the Linear Approximated Almost Ideal Demand System (LA/AIDS). The results show that both FPAH and FAFH are normal goods, but FAFH is more elastic than FPAH. Additionally, in terms of income elasticity, we found that households show stronger responses in consumption on FAFH, compared to FPAH. We also present heterogeneity analysis on different types …

From Rastra To Bpnt: An Empirical Quantitative Evaluation Of Food Assistance Reform In Indonesia, Wahyuni Andriana Sofa

Economics and Finance in Indonesia

Since 2017, Indonesia has shifted from its Rastra program to BPNT, an e-voucher food-based initiative, due to issues with targeting and effectiveness in social assistance. This paper examines the impact of this transition on poverty alleviation and food security, using SUSENAS 2018 and propensity score matching. Findings indicate BPNT is less effective than Rastra in reducing households’ poverty risk and has led to decreased food access and nutrition. Impact variations are noted, which are found to be worse in households with less-educated heads, located in Java Island, and rural areas.

Endogenous Political Legitimacy: The Tudor Roots Of England’S Constitutional Governance, Avner Greif, Jared Rubin

ESI Working Papers

This paper highlights the importance of endogenous changes in the foundations of legitimacy for political regimes. It focuses on the central role of legitimacy changes in the rise of constitutional monarchy in England. It first defines legitimacy and briefly elaborates a theoretical framework enabling a historical study of this unobservable variable. It proceeds to substantiate that the low-legitimacy, post-Reformation Tudor monarchs of the 16th century promoted Parliament to enhance their legitimacy, thereby changing the legislative process from the “Crown and Parliament” to the “Crown in Parliament” that still prevails in England.

Reproductive Inequality In Humans And Other Mammals, Cody T. Ross, Paul L. Hooper, Jennifer E. Smith, Adrian V. Jaeggi, Eric Alden Smith, Sergey Gavrilets, Fatema Tuz Zohora, John Ziker, Dimitris Xygalatas, Emily E. Wroblewski, Brian Wood, Bruce Winterhalder, Kai P. Willführ, Aiyana K. Willard, Kara Walker, Christopher Von Rueden, Eckart Voland, Claudia Valeggia, Bapu Vaitla, Samuel Urlacher, Mary Towner, Chun-Yi Sum, Lawrence S. Sugiyama, Karen B. Strier, Kathrine Starkweather, Daniel Major-Smith, Mary Shenk, Rebecca Sear, Edmond Seabright, Ryan Schacht, Brooke Scelza, Shane Scaggs, Jonathan Salerno, Caissa Revilla-Minaya, Daniel Redhead, Anne Pusey, Benjamin Grant Purzycki, Eleanor A. Power, Anne Pisor, Jenni Pettay, Susan Perry, Abigail E. Page, Luis Pacheco-Cobos, Kathryn Oths, Seung-Yun Oh, David Nolin, Daniel Nettle, Cristina Moya, Andrea Bamberg Migliano, Karl J. Mertens, Rita A. Mcnamara, Richard Mcelreath, Siobhan Mattison, Eric Massengill, Frank Marlowe, Felicia Madimenos, Shane Macfarlan, Virpi Lummaa, Roberto Lizarralde, Ruizhe Liu, Melissa A. Liebert, Sheina Lew-Levy, Paul Leslie, Joseph Lanning, Karen Kramer, Jeremy Koster, Hillard S. Kaplan, Bayarsaikhan Jamsranjav, A. Magdalena Hurttado, Kim Hill, Barry Hewlett, Samili Helle, Thomas Headland, Janet Headland, Michael Gurven, Gianluca Grimalda, Russell Greaves, Christopher D. Golden, Irene Godoy, Mhairi Gibson, Claire El Mouden, Mark Dyble, Patricia Draper, Sean Downey, Angelina L. Demarco, Helen Elizabeth Davis, Stefani Crabtree, Carmen Cortez, Heidi Colleran, Emma Cohen, Gregory Clark, Julia Clark, Mark A. Caudell, Chelsea E. Carminito, John Bunce, Adam Boyette, Samuel Bowles, Tami Blumenfield, Bret Beheim, Stephen Beckerman, Quentin Atkinson, Coren Apicella, Nurul Alam, Monique Borgerhoff Mulder

ESI Publications

To address claims of human exceptionalism, we determine where humans fit within the greater mammalian distribution of reproductive inequality. We show that humans exhibit lower reproductive skew (i.e., inequality in the number of surviving offspring) among males and smaller sex differences in reproductive skew than most other mammals, while nevertheless falling within the mammalian range. Additionally, female reproductive skew is higher in polygynous human populations than in polygynous nonhumans mammals on average. This patterning of skew can be attributed in part to the prevalence of monogamy in humans compared to the predominance of polygyny in nonhuman mammals, to the limited …

Feeling The Heat: Heterogeneous Treatment Effects Of Heat On Human Cooperation, Scott K. Klaus

Master's Theses

The goal of this paper is to examine how increased temperatures affect human behavior in terms of cooperation. Currently, there is an abundance of literature regarding increased aggression in humans as temperatures rise. However, there is ambiguity concerning whether a similar effect exists in altering levels of cooperation in human interactions. Additionally, people of different characteristics may be influenced by heat at varying levels. First, we run a baseline model of prosociality on different heat measurements, such as standard and wet-bulb temperatures. Included in this model are experimental specification variables, a “trigger”, and characteristics. The trigger is defined as losing …

Sweet And Timely Insurance: The Role Of Honey In Reducing Coffee Producer Food Insecurity Exposure In Mexico, Grant Xavier Storer

Master's Theses

Smallholder coffee producers face a combination of pre- and post-harvest risk factors that leaves them particularly vulnerable to food insecurity. A popular form of on-farm diversification is honey production through beekeeping, that has both nutritional and commercial value. This study investigates the role of honey production as means of food security management due to the heightened pollinating activity during the coffee flowering stage that follows the annual coffee harvest provides an additional non-contemporaneous source of income. Using primary data collected in coffee-producing regions of Chiapas, Mexico, I find that during the honey harvest months, which occurs during the early stage …

County-Level Unemployment Dynamics Following The Covid Recession: The Effects Of Ppp Loan Take Up, Preston Antes

Honors Theses

The COVID-19 pandemic caused a nationwide shutdown, dragging the US into a recession. To combat the effects of the pandemic on the economy, Congress created the Paycheck Protection Program (PPP) with the focus of preserving jobs and providing liquidity to small businesses. PPP created low-interest, forgivable business loans with forgiveness tied to a few benchmarks, providing a de facto cash transfer to small businesses. Did PPP preserve jobs? When examining Mississippi, this paper shows that counties with high cyclical unemployment participated more intensely in the program. Furthermore, the research shows that as loan totals grew within a county, local labor …

21st Century Political Agronomy: Between Collapse And Apocalypse In The Capitalist World System, Harrison Raskin

Honors Scholar Theses

Examinations of the causal chain between ecological impacts and food shortages reveal significant impending global disturbances. This paper draws a causal link between ecological impacts and low food productivity which will lead to food insecurity and economic crises in the near term. Further, this paper argues that food insecurity may lead to the collapse of the capitalist world system. This threat is contrasted with “business as usual” climate models which, rather than depicting the collapse of the capitalist world system, depict its persistence throughout the collapse of the world ecology.

L’Économie Solidaire De Kabylie : Une Perspective Critique, Mohamed-Amokrane Zoreli

Journal of Amazigh Studies

Résumé :

Dans cet article, l’auteur réalise, pour le contexte de la Kabylie, une étude d’ensemble de l’évolution des pratiques d’économie sociale, du modèle originel jusqu’à la période actuelle, en passant par les différentes phases de colonisation puis d’indépendance. L’objectif est triple. Voir d’abord quels sont les ressorts, les mécanismes et les finalités des solidarités locales originelles et comment elles se mobilisent pour répondre à des besoins socio-économiques et politiques. Voir ensuite comment l’Etat-nation et la mondialisation ont impacté dans le temps long ces solidarités locales, en les démobilisant et immobilisant par différents moyens, juridiques, économiques et politiques. Voir enfin …

An Economic Perspective On Self-Reported Happiness In Taiwan, Shih Yu Sung

All Theses

Happiness research has become a topic of interest in recent years. The OECD's "Better Life Index," the U.N.'s "World Happiness Report," and Taiwan's "National Happiness Indicator" are examples of initiatives to understand better and evaluate the well-being of people. After the well-known "Easterlin Paradox" was proposed, more and more economists started researching the economics of happiness. Economists studied the relationship between reported happiness and income and the relationship between reported happiness and socioeconomic factors and demographic factors. In this study, I use data from the Taiwan Social Change Survey of 1995, 2000, 2005, 2010, and 2015 to analyze potential factors …

The Determinants Of Homeownership: Mortgage Rates, Median Household Income And Vacancy Rates, Aisha S. Mackey

Applied Economics Theses

Several studies conducted have considered the determinants to homeownership in America. In our study, we are looking at the impact of mortgage rates, median household income, and vacancy rates. Here, we identify how homeownership is determined, how mortgage rates affect homeownership, how median income affects homeownership, and how vacancies affect homeownership. Our study begins with a literature review. We then use regression analysis to look at the relationship between total homes owned, the mortgage rate, median household income, and vacancy. Our study confirms our expectations. We find that there is a negative relationship between total homes owned and the mortgage …

Economic Impact Assessment Of Nature-Based Coastal Resilience Solutions In Charleston. Estimating Local Economic Effects With Algorithm-Based Supporting Tool., Oksana Veselkova

All Theses

Coastal cities are at the forefront of the risks induced by climate change. Local communities are adversely affected, but the essential cultural assets and economies are also at risk of damage or destruction. In the efforts to limit hazard risk exposure, local governments are increasingly planning for long-term flood protection. One prospective flood risk mitigation measure is living shorelines or nature-based adaptation. The coastal ecosystems, such as beaches, wetlands, barrier islands, oyster reefs, and salt marshes, deliver multiple benefits to communities, including recreation, natural resources, freshwater, and carbon sequestration. Moreover, when combined with structural solutions, they can effectively reduce water …

Essays On The Economics Of Sports Wagering Markets, Jacob Lamb

All Dissertations

Economists have long been enamored with using wagering markets and sports data to answer various economic questions. Wagering market data are readily available to answer any number of questions relating to sports and economics. However, most studies surrounding wagering markets have focused on searching for inefficiencies and, consequently, profitable betting strategies against the house. This dissertation takes a different approach, focusing on the information that can be extracted from efficient wagering markets and using that information to answer economic questions. Rather than hunting for inefficiencies, this dissertation confirms the efficiency of wagering markets and uses wagering markets to answer questions …

Believe It Or Not: Discovering The Role Of Marketplace Ministry In Reconciling Race And Religion In The African American Church, Shawn Burgs

DMin Project Theses

This April 2023 Doctor of Ministry Project thesis at Lipscomb University explores the experiences of African Americans as faith holders in the crux of race, religion, and marketplace and how the interconnectedness of these facets can lend to reconciliation. The purpose of exploring how African American believers experience race and religious reconciliation is a noble goal that seeks to address the challenges faced by many African American believers in navigating their faith and cultural engagement. By examining their experiences, insights, and perspectives, we can learn more about the unique challenges they face and the strategies they employ to overcome them. …

Fenway And Crime: Opportunity, Geographic Differences, And Team Rivalry At Boston Red Sox Games, Cole Mcgovern

Empirical Economic Bulletin, An Undergraduate Journal

Although hosting professional sports are often seen as a financial benefit for cities, there are also associated costs. This paper investigates the possibility of interdependence between a variety of crimes and home game days of the Boston Red Sox. When adjusting for game attendance and length, minor assaults charges such as disorderly conduct and simple assault increase city-wide during game days. Despite this, all crime around the immediate stadium area decreases in volume. Additionally, this study examines differences in geographical impacts and crime levels, when a game was played, and games played against the New York Yankees, their historic rival.

The Happiness-Income Paradox: A Cross Sectional Analysis, Samantha Sczepanski

Empirical Economic Bulletin, An Undergraduate Journal

This paper presents an empirical analysis of how income, education and healthcare affect overall happiness in a country. By using data found through the world happiness report, Statista and the world population review, I was able to analyze the relationship between these three variables and the overall happiness index from 100 counties. The results showed that while all three variables have a positive relationship with the happiness index, mean income had the strongest relationship. I was also able to explore potential other variables that could have an effect which were cost of higher education, percentage of population with secondary or …

Empirical Analysis Of Firearm-Related Deaths In The United States Based On Sex, Race, And Age, Dominik Dacruz

Empirical Economic Bulletin, An Undergraduate Journal

This empirical study examines firearm deaths via sex, race, and age in the United States. They have a look at making use of information from dependable assets such as the Centers for Disease Control and Prevention and the National Vital Statistics System. Descriptive and theoretical statistical analyzes are used to look at the relationship between those elements and firearm-associated mortality throughout agencies inside the US. The effects display that gun homicides have persisted to rise over the years, with guys and African Americans most tormented by gun violence Suicide is the main motive of gun deaths, observed through homicide and …

Educations Effect On Income Inequality: A Panel Data Analysis, Nicholas Garbarino

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the effects of education amongst other factors on income inequality in Europe. This study examines if countries who have higher educational attainment have lower income inequality or if having higher educational attainment has no effect on income inequality. The study will include data from several European countries over two different time periods and the results will then be compared at a country level and at an overall level to see how education affects income inequality. The regression results show that a country that has higher educational attainment is more likely to have lower income inequality. These findings …

An Empirical Analysis Of The Impact Of Unemployment Rate And Economic Development Level On Income Inequality, Wenyi Gu

Empirical Economic Bulletin, An Undergraduate Journal

This study used linear regression analysis to inspect influence of unemployment rates and economic development levels on income inequality in the United States and Germany. The results indicate that the level of economic development is the main driving factor for inequality of income in America, while in Germany, high unemployment and inflation can exacerbate income inequality. This study emphasizes the importance of labor market policies, social welfare policies, and tax policies in reducing income inequality. While the analysis only covers two countries, the results have significant policy implications for addressing income inequality. Future research can expand on the factors that …

The Determinants Of Carbon Emission In Asia And Europe: A Panel Data Analysis, Erika Hauser

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the numerous variables that influence carbon emissions in selected Asian and European countries. The study examines the countries with the highest gross domestic product (GDP) in each region, considering the possible impact of economic growth on greenhouse gas emissions. The study also analyzes the role of other variables such as tourism, foreign direct investment (FDI), ecological footprint level (EFL), and agricultural output. The ecological footprint level is modeled by global hectare or the countries’ gha, which is a measure of the impact of human activities on the environment. The study estimates tourism and FDI reduce emissions, while …

An Empirical Analysis Of The Impact Specific Crimes Have On Property Values In Massachusetts, Jake Scott

Empirical Economic Bulletin, An Undergraduate Journal

This research paper examines the impact of specific crime types on property values in urban areas. Using a dataset of property sales and crime data from several cities in Massachusetts, a regression analysis is applied to estimate the effect of different crime types on property values. Our findings suggest that certain types of crime, such as violent crimes and drug-related offenses, have a significant negative impact on property values, while other types of crime, such as property crimes and white-collar crimes, have a relatively small effect on property values. We also find that the effect of crime on property values …

Empirical Analysis Of Institutional Quality And Financial Development On Income Inequality In Central America, Odette Mansour

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the effect of Institutional Quality and financial development in middle income in Central American Countries. The study incorporates information about how inequality in middle income has increased alarmingly and how we should consider improving the institution's quality. The outcomes show a positive relationship between Institutional Quality and financial development regarding middle-income society in Central American Countries, specifically: Panama, Costa Rica, El Salvador, and Honduras, which is why we suggested reforming institutional in Central American countries, letting international institutions such as the World Bank, United Nations, and IMF use their financial and political influences to promote strategies aimed …