Other Economics Commons^™

Your Money Or Your Time? Experimental Evidence On Overbidding In All-Pay Auctions, Adriana Breaban, Charles N. Noussair, Andreea Victoria Popescu

ESI Working Papers

Competition for a prize frequently takes the form of dedicating time toward winning a contest. Those who spend the most time become more likely to obtain the prize. We model this competition as an all-pay auction under incomplete information, and report an experiment in which expenditures and rewards are in terms of time. In the experiment, subjects must stay in the laboratory doing nothing for an initially prespecified length of time. However, they can bid, in terms of time, to leave early. The auction has an allpay structure so that if an individual does not submit the highest bid within …

Entrepreneurship Education Empowers Youth To Change Their Lives, Marianna Brashear, Jason Riddle

National Youth Advocacy & Resilience Conference

The Foundation for Economic Education (FEE) aims at equipping Title 1 schools with free, hands-on, engaging materials that any teacher can facilitate either individually or in a classroom setting with no background in entrepreneurship necessary. These versatile lessons, courses, and workshops teach the entrepreneurial mindset optimizing opportunities for grades 8-12 students no matter which life/career path they choose.

2018 Updated Tables And Figures For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

Experimental Evidence On The Cyclicality Of Investment, Cortney S. Rodet, Andrew Smyth

ESI Working Papers

We report laboratory experiments investigating the cyclicality of investment. In our setting, optimal investment is counter-cyclical because investment costs fall following market downturns. However, we do not observe counter-cyclical investment. Instead, heuristic investment models where firms invest a fixed percentage of their liquidity, or a fixed percentage of anticipated market demand, better fit our data on average than does optimal investment. We also report a control treatment without cost changes and a treatment with asymmetric investment liquidity. Both of these extensions support our main result.

Indefinitely Repeated Contests: An Experimental Study, Philip Brookins, Dmitry Ryvkin, Andrew Smyth

ESI Working Papers

We experimentally explore indefinitely repeated contests. Theory predicts more cooperation, in the form of lower expenditures, in indefinitely repeated contests with a longer expected time horizon, yet our data do not support this prediction. Theory also predicts more cooperation in indefinitely repeated contests compared to finitely repeated contests of the same expected length, but we find no significant difference empirically. When controlling for risk and gender, we actually find significantly higher long-run expenditure in some indefinite contests relative to finite contests. Finally, theory predicts no difference in cooperation across indefinitely repeated winner-take-all and proportional-prize contests. We find significantly less cooperation …

2018 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.

Low Perceived Control Over Health Is Associated With Lower Treatment Uptake In A High Mortality Population Of Bolivian Forager-Farmers, Sarah Alami, Jonathan Stieglitz, Hillard Kaplan, Michael Gurven

ESI Publications

Indigenous people worldwide suffer from higher rates of morbidity and mortality than neighboring populations. In addition to having limited access to public health infrastructure, indigenous people may also have priorities and health perceptions that deter them from seeking adequate modern healthcare. Here we propose that living in a harsh and unpredictable environment reduces motivation to pursue deliberate, costly action to improve health outcomes. We assess whether variation in Health Locus of Control (HLC), a psychological construct designed to capture self-efficacy with respect to health, explains variation in treatment uptake behavior among Tsimane Amerindians (N=690; age range: 40–89 years; 55.8% female; …

Testing The Boundaries Of The Double Auction: The Effects Of Complete Information And Market Power, Erik O. Kimbrough

Economics Faculty Articles and Research

We report boundary experiments testing the robustness of price convergence in double auction markets for non-durable goods in which there is extreme earnings inequality at the competitive equilibrium (CE). Following up on a conjecture by Smith (1976a), we test whether the well-known equilibrating power of the double auction institution is robust to the presence of complete information about traders’ values and costs and the presence of symmetric market power. We find that complete information is insufficient to impede convergence to CE prices; however, introducing market power consistently causes prices to deviate from the CE, whether or not subjects possess complete …

The Tug-Of-War In The Laboratory, Cary Deck, Roman Sheremeta

ESI Working Papers

The tug-of-war is a multi-battle contest often used to describe extended interactions in economics, operations management, political science, and other disciplines. While there has been some theoretical work, to the best of our knowledge, this paper provides the first experimental study of the tug-of-war. The results show notable deviations of behavior from theory derived under standard assumptions. In the first battle of the tug-of-war, subjects often bid less, while in the follow-up battles, they bid more than predicted. Also, contrary to the prediction, bids tend to increase in the duration of the tug-of-war. Finally, extending the margin necessary to win …

The Economic Impact Of Medicaid On West Virginia's Economy, Christiadi, John Deskins

Bureau of Business & Economic Research

No abstract provided.

The Economic Impact Of Natural Gas Capital Expenditures In West Virginia, Eric Bowen

Bureau of Business & Economic Research

No abstract provided.

Impact Of Behavioral Finance/Economics On Investment Decisions, Vidur Relan

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the impact of certain behavioral and psychological factors on financial investment decisions. The study of behavioral finance underlines the impact of psychological elements on financial markets progression. This paper will further explain how certain cognitive and emotional factors influence irrational decision making by people. Generally financial investors have very limited number of deviations from rational behavior. They lay emphasis on taking rational decisions which are focused on achieving the maximum amount of returns from their investments with a certain degree of bearable risk involvement. The behavioral finance paradigm suggests that financial decisions are largely influenced by emotional …

Does Night Skiing Save Ski Areas? A Survival Analysis, Andrew Krom

Empirical Economic Bulletin, An Undergraduate Journal

This paper conducts a survival analysis on New England ski areas to examine the factors that cause a ski area to exit the industry. The main variable of interest in this case was whether or not the mountain conducted night time operations. Very specific criteria was used for the areas included in the study. This paper also suggests improvements that could be made to future studies on the subject.

Missouri's Economic Future Lies With School Reform, Eric A. Hanushek

Center for Applied Economics

Between 1970 and 2007, Missouri’s growth in income per capita was 41st in the nation. This dismal outcome is largely a function of its educational system. Its schools have not been competitive, either among the U.S. states or internationally. Lifting the quality of schools will by the historical evidence presented here produce large long-run gains for Missouri’s economy. Even though many youth have in the past migrated to other parts of the country, the strength of the Missouri economy will continue to rest mainly on those current students who will become the backbone of the future labor force. Improving the …

Measuring Human Capital Across Countries: Iq And The Human Capital Index, Gail Heyne Hafer, R. W. Hafer

Center for Applied Economics

It has been shown that country-level IQ and aggregated performance by school-age children on international assessment tests in math and science are by-in-large capturing analogous indicators of the cognitive human capital. We expand that analysis by comparing country-level IQ to the World Economic Forum’s Human Capital Index (HCI). This index, comprised of several dozen separate indicators, accounts for inputs and outcomes to measure human capital, across age profiles and gender. Two outcomes are of note. First, there is a positive, significant correlation between IQ and the vast majority of the component indicators in the HCI across all age cohorts. Second, …

A Data Analysis Of Fdi Inflows And Poverty Rates In Central America, Scott Jarrett

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the impact of Foreign Direct Investment on poverty rates in Central America. The study incorporates a data analysis to discover whether FDI improves (lowers) poverty rates in Central American countries. this paper found that FDI Inflows did have significant and positive impacts on life expectancy and household consumption while having no impact on infant mortality rate.

Time Delay And Investment Decisions: Evidence From An Experiment In Tanzania, Plamen Nikolov

Economics Faculty Scholarship

Attitudes toward risk underlie virtually every important economic decision an individual makes. In this experimental study, I examine how introducing a time delay into the execution of an investment plan influences individuals’ risk preferences. The field experiment proceeded in three stages: a decision stage, an execution stage and a payout stage. At the outset, in the Decision Stage (Stage 1), each subject was asked to make an investment plan by splitting a monetary investment amount between a risky asset and a safe asset. Subjects were informed that the investment plans they made in the Decision Stage are binding and will …

Vocational Training Programs And Youth Labor Market Outcomes: Evidence From Nepal, S Chakravarty, M Lundberg, Plamen Nikolov, J Zenker

Economics Faculty Scholarship

Lack of skills is arguably one of the most important determinants of high levels of unemployment and poverty. In response, policymakers often initiate vocational training programs in efforts to enhance skill formation among the youth. Using a regression-discontinuity design, we examine a large youth training intervention in Nepal. We find, twelve months after the start of the training program, that the intervention generated an increase in non-farm employment of 10 percentage points (ITT estimates) and up to 31 percentage points for program compliers (LATE estimates). We also detect sizable gains in monthly earnings largely driven by women who start self-employment …

Sdsu Compared To Other Thirteen Universities In Research Expenditures, Abdalnaser Hesaien

Economics Graduate Students Plan B Research Projects

Research in SDSU is defined by the zeal to stay up to date with all necessary information that one would need to cope with day- to- day activities in different scopes of life. In any given moment SDSU offer a research-intensive environment that is not only possible to uphold but also able to provide a better way to adhere to information multiplication professionally. All efforts that are invested in the institution tries to give insights about the best ways to improve livelihood in South Dakota as the starting point that will impact the entire world. The most important plan that …

Effect Of Climate Change On Economic Growth In At Risk African Nations, Bryan Gilbert

Empirical Economic Bulletin, An Undergraduate Journal

This paper looks at the possible negative effects climate change could create on the growth of at risk African Nations. This study takes known climate change metrics and puts them into an economic growth model to shine light on environmental issues becoming more prevalent in our world today. Climate change indicators will be modelled alongside economic growth indicators to paint a picture of the positive or negative effect that could slow African Nations’ Economies now and into the future. The results of this regression are predicted to be that the climate change indicators will have a negative effect on economic …

Official Development Assistance And Social Capitals Impact On Economic Growth, Thomas D. Hanley

Empirical Economic Bulletin, An Undergraduate Journal

This study intends to increase the understanding of the impact social capital has on economic growth in countries that receive official development assistance. By analyzing these relationships further, it may be possible to develop strategies to increase economic growth and prosperity in these regions. The results show that economic growth is not contingent upon high levels of trust but trust rich environments conditions the effectiveness of oda in stimulating growth.

What Contributes To Winning Gold? A Cross-Section Analysis Of Olympic Success, Shannon Gay

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the relationship between Olympic success and economic factors, does it take more than just athleticism to win a medal at the Summer Olympic Games? This study is a cross-section analysis of eighty-three countries at the 2016 Rio Summer Olympics who won at least one medal, using share of medals won at the 2016 Summer Olympic Games as the dependent variable and factors including gross domestic product, country population, life expectancy, HDI, host country status, political environment, and past Olympic performance as the independent variables. The results show that there is a positive and statistically significant relationship between …

The Effects Of Varied Income And Education Levels On Divorce In The United States, Elizabeth Willmonton

Empirical Economic Bulletin, An Undergraduate Journal

In the past decade in the United States we have witnessed a surge in the divorce through the 21st century. Within the past decade these numbers have been slowing, leaving many asking for what the original increase was caused by. This paper looks into the possible driving variables for divorce in couples in the United States from the early 1970s to present. Using data from the Michigan Panel Study of Income Dynamics, our model will focus on dependent variable divorce and how factors such as income of wife and husband, age married, and education level; possibly impact divorce in couples. …

2018 Updated Tables And Figures For Ec 844 Nebraska Wheat Prices And Basis Patterns, Cory Walters, Jessica J. Groskopf

Extension Farm and Ranch Management News

No abstract provided.

Corruption And Soccer In Africa: Empirical Evidence On The Determinants Of Association Soccer Success In The Continent, Mustafa Zahid

Undergraduate Honors Theses

Despite the popularity of soccer in Africa, African teams tend to underperform in international competitions such as the World Cup relative to European and South American teams. Studies have been conducted on what determines performance in international soccer. These studies stress the importance of wealth, talent pool, and soccer culture on determining performance. However, these studies focus more generally on the entire world, and, in some instances, omit African nations due to a lack of data. Additionally, the focus on a wide sample of the world results in the omission of some potentially crucial variables in relation to Africa, specifically …

Economics Of Recruiting Interactions In Collegiate Sport: An Analysis In Game Theory And Matching Markets, Jessica Twaddle

Murray State Theses and Dissertations

This paper seeks to explain the interactions involved in recruiting prospective student-athletes to universities, particularly in the sport of softball. By employing the concepts of Game Theory, Prisoner’s Dilemma, and Matching Markets, the market for recruiting is explored and explained. Recent legislative changes in the market are then examined as well as possible outcomes as a result. Research on commitments in softball and lacrosse was collected in order to make claims in regard to incentives. The market for recruiting is compared to the residency placement matching system. Ideas are presented on ways to achieve a market that clears where outcomes …

Wildfire Risk Perception And Homeowner Mitigation: Evidence From Montana, Madison G. Nagle

Graduate Student Theses, Dissertations, & Professional Papers

Fire prevention managers find that homeowners often do not perform mitigation actions that could reduce the damage and spread of wildfire. There is widespread belief among these fire professionals that one of the primary reasons that homeowners do not perform mitigation actions is that homeowners misperceive the risk that wildfire poses. Thus, a significant component of fire prevention programs’ focus on increasing homeowner awareness of the risk. However, it is possible that homeowners are aware of the fire risk but choose not to mitigate because of a variety of reasons, to include the costs of mitigation, limited monetary liability that …

Aligning Incentives And Cost Allocation In Discovery, Jonathan R. Nash, Joanna M. Shepherd

Faculty Articles

Recent proposals to revise Federal Rule of Civil Procedure 26 to incorporate cost allocation of discovery have sparked considerable controversy. Advocates for reform argue that replacing the long-standing “producer-pays” presumption with something more akin to a “requester-pays” rule would better align economic incentives and reduce litigants’ ability to wield discovery as an instrument to force settlement. Opponents argue that such a reform would limit access to justice by saddling requesters with an ex ante burden of funding the opposition’s discovery.

In this Article, we explain that either a rule requiring both parties to share the costs of discovery (“cost-sharing rule”) …

Confucius Institute's Effects On China's Higher Education Exports: A Perspective From Cultural Difference And Institutional Quality, Donald Lien, Feng Yao, Fan Zhang

Economics Faculty Working Papers Series

This article uses a panel data of international student flows to China from 2000–2014 to investigate Confucius Institute (CI)’s effects on China’s educational service exports. We find that CI, as a comprehensive platform for promoting Chinese language and cultural exchange, has a significant positive effect on China’s education exports. The effects of CI on China’s education exports are transmitted through promoting Chinese language, bridging cultural gaps, and reducing psychic distance. We further find that the effects of CI on China’s education exports are heterogeneous, depending on the level of cultural difference and institutional quality in the host country. The effects …

Gigs And Grub: How The Gig Economy Impacts Restaurant Industry Performance, Laura Broderick

Scripps Senior Theses

In the last ten years, the gig economy has become a significant part of the labor market. Consumers depend on the services provided by people performing gig work, particularly as on-demand services are increasingly desired. Another trend that has developed is the rise of fast casual restaurants due to their relatively inexpensive and quick service while simultaneously providing unique and interesting cuisine options. I examined if there was a relationship between the rise of these emerging sectors of the economy through looking at the performance of limited service eating place establishments using a panel data regression model at the Metropolitan …