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 …

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 …

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 …

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.

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 …

Suggested Versus Extended Gifts: How Alternative Market Institutions Mitigate Moral Hazard, Daniel Houser, Jason Shachat, Weiwei Zheng

ESI Working Papers

Gift exchange can partially mitigate supply-side moral hazard, even in anonymous market interactions. In a market where quality is not fully contractable, the amount that a price exceeds the market-clearing price for the lowest quality is a gift from the buyer. We show that the gift formation process, inextricably linked with a market institution’s price formation process, greatly influences the size and effectiveness of the gift. When the market institution dictates that prices are formed by bids posted by buyers, the gift is extended to the seller. When the market institution dictates that prices are formed by offers posted by …

Physical Decline Rates: Men Versus Women, Ray C. Fair

Cowles Foundation Discussion Papers

This paper uses world records by age in running, swimming, and rowing to estimate a biological frontier of decline rates for both men and women. Decline rates are assumed to be linear in percent terms up to a certain age and then quadratic after that, where the transition age is estimated. For both men and women decline rates are smallest for rowing, followed by swimming and then running.

Decline rates for women are roughly the same as those for men for the short swimming events. They are slightly larger for the longer swimming events and for the rowing events. They …

The Covid-19 Pandemic And Work From Home, 2019-2021, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents data from the American Community Survey (ACS) Report, “Home Based Workers and the COVID-19 Pandemic,” which examines how the COVID-19 pandemic affected commuting patterns and workplace systems. The data examine how the pandemic shifted norms in work culture and conditions in Mountain West states and metropolitan statistical areas (MSAs).

Metro Migration In The Mountain West, 2018-2021, Saha Salahi, Zachary Billot, Caitlin J. Saladino, William E. Brown Jr.

Demography

This fact sheet examines the annual population changes from international migration and net domestic immigration in Mountain West metropolitan statistical areas (MSAs) with populations exceeding 1 million from 2018 to 2021. This fact sheet includes U.S. Census data as reported in the Brookings Institution report, “New census data shows a huge spike in movement out of the big metro areas during the pandemic” by William H. Frey.