Economics Commons^™

Hubris Or Talent? Estimating The Role Of Overconfidence In Chinese Households’ Investment Decisions, Jing Xu, Maroula Khraiche, Xi Mao, Xuan Wang

Economics and Finance Faculty Publications and Presentations

We document the extent to which overconfidence in one’s financial literacy (FL overconfidence) plays a role in households’ reported financial risk aversion and their actual investment behavior, using data from the China Household Finance Survey. We measure FL overconfidence by estimating the gap between people’s self-reported financial literacy and their objectively measured financial knowledge. Our results indicate that FL overconfidence is negatively associated with self-reported financial risk aversion. Additionally, FL overconfidence is positively associated with the likelihood of having a brokerage account, holding risky financial instruments (other than just stock), and a proportion of assets allocated towards risky assets. We …

Senior Mental Health Clinicians’ Understanding Of Their Self-Efficacy While Providing Services At Community-Based Agencies, Rukiya Symister

Walden Dissertations and Doctoral Studies

Many mental health clinicians strive to provide their clients with rehabilitative and psychotherapy services resulting in a client gaining stable income and housing. However, the role of a senior mental health clinician (SMHC) is not without its challenges of trying to balance their well-being while dealing with increased coworker turnover, demanding caseloads, and limited access to community resources to provide clients with getting their lives back on track, thereby impacting clinicians’ understanding of their self-efficacy. Much of the research on self-efficacy has focused on mental health clients, mental health graduate students, and mental health trainees, often leaving out the lived …

Optimal Nonparametric Range-Based Volatility Estimation, Tim Bollerslev, Jia Li, Qiyuan Li

Research Collection School Of Economics

We present a general framework for optimal nonparametric spot volatility estimation based on intraday range data, comprised of the first, highest, lowest, and last price over a given time-interval. We rely on a decision-theoretic approach together with a coupling-type argument to directly tailor the form of the nonparametric estimator to the specific volatility measure of interest and relevant loss function. The resulting new optimal estimators offer substantial efficiency gains compared to existing commonly used range-based procedures.

Heat & Social Cooperation: The Effects Of Thermal Stress On Altruism, Alexander J. Courtman

Master's Theses

Recent literature has highlighted the effects of temperature on economic outcomes and violence in humans, on both the interpersonal and intergroup levels: as temperatures rise, humans are more likely to exhibit increased aggression and agitation. However, little research has been done on how pro-social behaviors like cooperation and altruism among humans might respond to increased temperatures. As extreme heat events increase in frequency, will humans and communities work together in the face of adverse shocks and crises? Leveraging experimental data collected randomized controlled trails held in 4 locations across the world, this paper seeks to establish a relationship between thermal …

How Social Structure Shapes Female Competition Throughout Her Lifetime, Jeffrey Flory, Kenneth L. Leonard, Magda Tsaneva, Kathryn Vasilaky

Economics

Many studies find a consistent gender gap in competitiveness where men are more likely to compete than women given the same level of ability. Using data from experiments with women ages 12 through 90 in matrilocal and patrilocal communities in rural Malawi, we show that this gender gap does not exist uniformly for all women nor across their whole lifetime. We first replicate three main findings from the gender and competition literature: (i) women are less likely to compete on average; and the gender gap differs by (ii) culture and by (iii) age. In a new finding, we show that …

Three Essays On Energy Markets Using Dynamic Time Series, Zuyi Wang

All Graduate Theses and Dissertations, Fall 2023 to Present

This dissertation investigates energy markets using dynamic time series and rolling panel approaches, aiming to enhance our understanding of their dynamics and interrelationships. The first essay focuses on the transfer of price bubbles between oil and gas markets. The findings indicate that price bubbles in the oil market have the potential to transfer to the gas market, with the probability of transfer depending on the gas price mechanism. The second essay delves into China’s natural gas market and specifically explores the dynamic relationship between imported liquefied natural gas (LNG) and pipeline prices. This analysis utilizes a price discovery framework to …

Essays On Market Inefficiencies Arising From Information Asymmetry And Market Power, Ming Ge

Doctoral Dissertations

This dissertation comprises three chapters that empirically investigate various kinds of market inefficiencies arising from seller misbehaviors. The first two chapters focus on physicians' overtreatment in healthcare markets. A standard reputation system falls short of effectively curbing overtreatment due to the credence-good nature of such a market: patients cannot tell whether a high-cost treatment recommendation (versus a less costly and complex treatment) is necessary even after the service is completed. In the first chapter, I propose a novel solution to reinstate the function of reputation by combining a reputation mechanism with patient search for second opinions. I conduct a laboratory …

มุมมองด้านการเติบโตทางเศรษฐกิจต่ออายุคาดเฉลี่ยด้วยวิธี Granger Causality: กรณีศึกษากลุ่มประเทศ Clmv (The Perspective Of Economic Growth To Life Expectancy: Cambodia, Lao Pdr, Myanmar And Vietnam), มณิภัทร์ ไทรเมฆ

Journal of Demography

บทคัดย่อ

การศึกษาครั้งนี้มีวัตถุประสงค์เพื่อศึกษาความสัมพันธ์ระหว่างรายได้ประชาชาติกับอายุคาดเฉลี่ยด้วยวิธีการทดสอบความสัมพันธ์เชิงเหตุและผลของ Granger Causality ข้อมูลที่ใช้ในการวิเคราะห์เป็นข้อมูลทุติยภูมิ (Secondary data) ของประเทศในกลุ่ม CLMV เป็นประเภทอนุกรมเวลา โดยมีลักษณะเป็นรายปี ตั้งแต่ปี 2000-2018 ผลการศึกษาความคาดหวังในชีวิตของกลุ่มประเทศ CLMV ทั้งประชากรชายและประชากรหญิง พบว่า การทดสอบความนิ่งของข้อมูล ค่าสัมประสิทธิ์ของ ADF test และ KPSS test ณ ระดับนัยสำคัญ 0.05 ที่ระดับต่างๆ และทำการทดสอบ Residual Tests พบว่า ไม่พบปัญหา Autocorrelation และไม่พบปัญหา Heteroscedasticity หลังจากนั้นได้ทำการทดสอบระดับความยากของค่าล่า (lag length) ที่เหมาะสม ผลการทดสอบสมมติฐานเชิงเหตุเชิงผล (Granger Causality) พบว่า การเติบโตทางเศรษฐกิจเป็นต้นเหตุของอายุคาดเฉลี่ยของประชากรชายหญิงของประเทศ กัมพูชา และประเทศเมียนมา ประชากรหญิงของประเทศ สปป.ลาว และประชากรชายของประเทศเวียดนาม แต่ผลที่ออกมากลับกัน คือ อายุคาดเฉลี่ยเป็นต้นเหตุของรายได้ประชาชาติต่อหัวของประชากรชายหญิงของประเทศสปป.ลาว ประชากรหญิงของประเทศเมียนมาและเวียดนาม

Investment Fraud In The Mountain West, Riley Ruff, Vanessa Booth, Caitlin J. Saladino, William E. Brown Jr.

Criminal Justice

This fact sheet focuses on investment fraud data in the Mountain West states of Arizona, Colorado, Nevada, New Mexico and Utah. The original report includes data from “The 2023 State of Investment Fraud” study conducted by Carlson Law.

Minimum Wage Increases Reduce Racial Disparities During Hiring, Alec Brandon, Justin E. Holz, Andrew Simon, Haruka Uchida

Upjohn Institute Policy and Research Briefs

No abstract provided.

Minimum Wages And Racial Discrimination In Hiring: Evidence From A Field Experiment, Alec Brandon, Justin E. Holz, Andrew Simon, Haruka Uchida

Upjohn Institute Working Papers

When minimum wages increase, employers may respond to the regulatory burdens by substituting away from disadvantaged workers. We test this hypothesis using a correspondence study with 35,000 applications around ex-ante uncertain minimum wage increases in three U.S. states. Before the increases, applicants with distinctively Black names were 19 percent less likely to receive a callback than equivalent applicants with distinctively white names. Announcements of minimum wage hikes substantially reduce callbacks for all applicants but shrink the racial callback gap by 80 percent. Racial inequality decreases because firms disproportionately reduce callbacks to lower-quality white applicants who benefited from discrimination under lower …

Book Review: Kings, Conquerors, Psychopaths: From Alexander To Hitler To The Corporation, Tim Bakken

Genocide Studies and Prevention: An International Journal

The book Kings, Conquerors, Psychopaths is a survey of a vast amount of human wrongdoing. It lays bare the motivations of aggressors who wish to subjugate nations or groups of people and corporate executives and government bureaucrats who make discretionary decisions that harm people. Along with cataloging mass killings by despots and soldiers, the book includes stories about Ponzi-schemers and the deaths of automobile drivers and passengers who were killed by vehicle defects known to the manufacturer. The book posits that “[p]owerful, elite forces are trying to force us backward toward a non-democratic state, one where power, wealth, and prerogative …

Gender Gaps In Employment And Earnings After Job Loss, Ria Ivandić, Anne Sophie Lassen

Employment Research Newsletter

No abstract provided.

Headwinds And Tailwinds: The Present And Future Of Work For Women, Molly Kinder

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled "Headwinds and Tailwinds: The Present and Future of Work for Women” by Brookings fellow in the Brookings Metro, Molly Kinder. Women comprise nearly half of the US labor force, and today outnumber men on college campuses. Yet the gender pay gap persists and women are overrepresented in the lowest paying occupations. In what ways are jobs and economic opportunities changing for women in the labor force? Over the next decade, how will demographic changes like the aging of the baby boom generation and technological changes …

Mathematical Modeling Of The Impact Of Lobbying On Climate Policy, Andrew Jacoby, Claire Hannah, James Hutchinson, Jasmine Narehood, Aditi Ghosh, Padmanabhan Seshaiyer

Annual Symposium on Biomathematics and Ecology Education and Research

No abstract provided.

Comparative Economic And Statistical Study About Fish Catch From Manzalah Before And During Dredging Operations For Developing The Lake’S Fisheries, Fattouh Sh, Abd El-Khalek Z., El-Sayed N., Hagag, Sh, Unis R., El- Sonbaty O.

Blue Economy

The bio, social, and economic sustainability of Lake Manzallah fisheries was affected because of pollution, dehydration, and fishers’ / outlaw encroachments. Fish catch and productivity have decreased sharply. The Egyptian government interfered in 2017 and introduced action plan for restoring the lake’s vitality. NIOF research team took part and conducted a research that aims at estimating the secular trend of total fish catch and of the major marine and brackish waters species: Tilapia, Catfish and Mullet, before and during the plan. The research also aims at assessing optimal catch-effort relation before and during the plan, and the effect of the …

Financial Crisis And Female Entrepreneurship: Evidence From South Korea, Jungho Lee, Sunha Myong

Research Collection School Of Economics

We document a drastic increase in female-owned manufacturing firms in South Korea after the 1997 financial crisis. During the crisis, a major banking sector reform was conducted, and many underperforming bank branches were forced to close down. Using a geographical variation of bank branch closures during the reform, we show that the banking sector reform resulted in a rise in female entrepreneurship. We present evidence that male-owned firms were preferred by the closeddown bank branches, despite female-owned firms exhibiting lower risks and higher returns. The banking sector reform, although not explicitly aimed at addressing gender disparities, substantially benefited female entrepreneurs …

Information Loss In Volatility Measurement With Flat Price Trading, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

A model of financial asset price determination is proposed that incorporates flat trading features into an efficient price process. The model involves the superposition of a Brownian semimartingale process for the effcient price and a Bernoulli process that determines the extent of price trading. The approach is related to sticky price modeling and the Calvo pricing mechanism in macroeconomic dynamics. A limit theory for the conventional realized volatility (RV) measure of integrated volatility is developed. The results show that RV is still consistent but has an inflated asymptotic variance that depends on the probability of flat trading. Estimated quarticity is …

Explaining The Proliferation Of U.S. Billionaires During The Neoliberal Period, Rob Piper

Class, Race and Corporate Power

This article explains the proliferation of U.S. billionaire wealth during the neoliberal period (1980 to the present). Using the work of scholars, investigative journalists, and government researchers, it examines descriptive evidence from the past forty years of the economic, social, and political trends associated with the capital accumulation that led to so much wealth being concentrated with so few individuals. It further creates a theoretical framework of institutional factors (or “drivers”) that help to understand how these trends link together to provide a comprehensive explanation for the increase of billionaires in comparison with other economic gauges like GDP, income distribution, …

Work Hard For The Money: Performance-Based Funding In The State Of Louisiana, Victoria C. Lloyd

LSU Doctoral Dissertations

The purpose of this study is to examine in what ways, if any, the introduction of the equity incentive portion of Louisiana’s performance-based funding model impacted the underserved student groups it was designed to support. I employed a quantitative quasi-experimental design for this study by running three outcome variables (Adult Learner Enrollment, First-Time Enrollment for Racially Minoritized Students, and Low-Income Student Enrollment) by sector (two- and four-year public institutions) and employing a differences-in-differences regression with panel data. In my analysis I uncovered two main findings: 1) Louisiana’s equity incentive is showing early signs of success for all three underserved groups …