Spatial Dynamic Panel Data Models With Correlated Random Effects,
2021
Singapore Management University
Spatial Dynamic Panel Data Models With Correlated Random Effects, Liyao Li, Zhenlin Yang
Research Collection School Of Economics
In this paper, M-estimation and inference methods are developed for spatial dynamic panel data models with correlated random effects, based on short panels. The unobserved individual-specific effects are assumed to be correlated with the observed time-varying regressors linearly or in a linearizable way, giving the so-called correlated random effects model, which allows the estimation of effects of time-invariant regressors. The unbiased estimating functions are obtained by adjusting the conditional quasi-scores given the initial observations, leading to M-estimators that are consistent, asymptotically normal, and free from the initial conditions except the process starting time. By decomposing the estimating functions …
Mildly Explosive Autoregression With Anti-Persistent Errors,
2021
Singapore Management University
Mildly Explosive Autoregression With Anti-Persistent Errors, Yiu Lim Lui, Weilin Xiao, Jun Yu
Research Collection School Of Economics
An asymptotic distribution is derived for the least squares (LS) estimate of a first‐order autoregression with a mildly explosive root and anti‐persistent errors. While the sample moments depend on the Hurst parameter asymptotically, the Cauchy limiting distribution theory remains valid for the LS estimates in the model without intercept and a model with an asymptotically negligible intercept. Monte Carlo studies are designed to check the precision of the Cauchy distribution in finite samples. An empirical study based on the monthly NASDAQ index highlights the usefulness of the model and the new limiting distribution.
Determining The Number Of Communities In Degree-Corrected Stochastic Block Models,
2021
University of California, Riverside
Determining The Number Of Communities In Degree-Corrected Stochastic Block Models, Shujie Ma, Liangjun Su, Yichong Zhang
Research Collection School Of Economics
We propose to estimate the number of communities in degree-corrected stochastic block models based on a pseudo likelihood ratio. For estimation, we consider a spectral clustering together with binary segmentation method. This approach guarantees an upper bound for the pseudo likelihood ratio statistic when the model is over-fitted. We also derive its limiting distribution when the model is under-fitted. Based on these properties, we establish the consistency of our estimator for the true number of communities. Developing these theoretical properties require a mild condition on the average degree: growing at a rate faster than log(n), where n is the number …
Mildly Explosive Autoregression With Anti-Persistent Errors,
2021
Singapore Management University
Mildly Explosive Autoregression With Anti-Persistent Errors, Yui Lim Lui, Jun Yu, Jun Yu
Research Collection School Of Economics
An asymptotic distribution is derived for the least squares (LS) estimate of a first-order autoregression with a mildly explosive root and anti-persistent errors. While the sample moments depend on the Hurst parameter asymptotically, the Cauchy limiting distribution theory remains valid for the LS estimates in the model without intercept and a model with an asymptotically negligible intercept. Monte Carlo studies are designed to check the precision of the Cauchy distribution in finite samples. An empirical study based on the monthly NASDAQ index highlights the usefulness of the model and the new limiting distribution.
A State-Of-The-Art Review Of The Sharing Economy: Scientometric Mapping Of The Scholarship,
2021
Edith Cowan University
A State-Of-The-Art Review Of The Sharing Economy: Scientometric Mapping Of The Scholarship, Anton Klarin, Yuliani Suseno
Research outputs 2014 to 2021
Using a dataset of 2,229 scholarly outputs from the Web of Science on the sharing economy (SE), our scientometric review provides a taxonomy of the current research on the SE in terms of their contributions, theories, and methods utilized in existing studies. The review also highlights a typology of the inter-related concepts of the SE. We demonstrate four clusters of existing research: freelance work and its implications, transportation and solutions for the sustainable development of the SE, user experience and collaborative consumption, and the SE in the context of hospitality and tourism. We suggest future research directions in terms of …
Commodity Futures Returns And Policy Uncertainty,
2021
Edith Cowan University
Commodity Futures Returns And Policy Uncertainty, Deepa Bannigidadmath, Paresh Kumar Narayan
Research outputs 2014 to 2021
This paper investigates whether economic policy uncertainty is predictable using three sets of commodity futures market variables, namely the equal-weighted average of futures excess returns, the excess returns on a portfolio of going long in backwardated commodities, and the excess returns on a portfolio of going short in contango commodities as predictors. We find significant evidence of both in-sample and out-of-sample predictability. Combination forecasts also reveal strong evidence of predictability. Our findings remain unchanged following several robustness tests.
Change In Outbreak Epicentre And Its Impact On The Importation Risks Of Covid-19 Progression: A Modelling Study,
2021
James Cook University
Change In Outbreak Epicentre And Its Impact On The Importation Risks Of Covid-19 Progression: A Modelling Study, Oyelola A. Adegboye, Adeshina I. Adekunle, Anton Pak, Ezra Gayawan, Denis H. Y. Leung, Diana P. Rojas, Emma S. Mcbryde, Damon P. Eisen
Research Collection School Of Economics
Background: The outbreak of Severe Acute Respiratory Syndrome Coronavirus-2 (SARS-CoV-2) that was first detected in the city of Wuhan, China has now spread to every inhabitable continent, but now the attention has shifted from China to other epicentres. This study explored early assessment of the influence of spatial proximities and travel patterns from Italy on the further spread of SARS-CoV-2 worldwide. Methods: Using data on the number of confirmed cases of COVID-19 and air travel data between countries, we applied a stochastic meta-population model to estimate the global spread of COVID-19. Pearson's correlation, semi-variogram, and Moran's Index were used to …
The Influence Of Food Recommendations: Evidence From A Randomized Field Experiment,
2021
University of California, Irvine
The Influence Of Food Recommendations: Evidence From A Randomized Field Experiment, Kamal Bookwala, Caleb Gallemore, Joaquín Gómez-Miñambres
ESI Working Papers
We report results from a randomized field experiment conducted at two food festivals. Our primary aim is to assess the impact of two types of recommendations commonly observed in food settings: most popular and chef’s choice. Subjects select a cupcake from a binary menu. The two options, offered by the same bakery, are the best seller in the bakery and the baker’s recommended cupcake. Our treatments manipulate whether the recommendation is disclosed in tandem with the cupcakes in the menu. We find that the most popular is the only recommendation that statistically significantly increased consumers’ demand relative to …
Essays On Random Social Choice Theory,
2021
Indian Statistical Institute
Essays On Random Social Choice Theory, Soumyarup Sadhukhan Dr.
Doctoral Theses
The thesis covers an extreme point characterization of strategy-proof and unanimous probabilistic rules over binary restricted domains. It shows that every strategy-proof and unanimous probabilistic rule on a binary restricted domain has binary support, and is a probabilistic mixture of strategy-proof and unanimous deterministic rules. Examples of binary restricted domains are single-dipped domains, which are of interest when considering the location of public bads. We also provide an extension to infinitely many alternatives. It also discusses that a random rule on a top-connected single-peaked domain is unanimous and strategy-proof if and only if it is a random min-max rule. As …
Cost Countries Pay For High Homicide Rates,
2021
University of Louisville
Cost Countries Pay For High Homicide Rates, Brittany Lowe
Grawemeyer Colloquium Papers
This research finds the economic cost, in terms of GDP per capita, to countries for increased violence using typical econometric models, and then makes recommendations to decision makers about funding allocation of violence prevention programs based off its findings.
The Feasibility Of Renewable Natural Gas In New Jersey,
2021
Fairleigh Dickinson University
The Feasibility Of Renewable Natural Gas In New Jersey, Anneliese Dyer, Amelia Christine Miller, Brianna Chandra, Juan Galindo Maza, Carley Tran, Justin Bates, Vicky Olivier, Amy Tuininga
PSEG Institute for Sustainability Studies Publications
With traditional natural gas being one of the top options for heating in the United States and the present threat of climate change, there is a demand for an alternative clean fuel source. A Renewable Natural Gas Implementation Decision-Making Conceptual Model was created to provide a framework for considering the feasibility of renewable natural gas (RNG) projects and applied to New Jersey, specifically investigating landfills and wastewater treatment plants (WWTPs). Data from the US EPA’s Landfill Methane Outreach Program and New Jersey’s Department of Environmental Protection Sewage Sludge databases were used to identify seven landfills and 22 WWTPs as possible …
Identifying Latent Group Structures In Nonlinear Panels,
2021
Jinan University - China
Identifying Latent Group Structures In Nonlinear Panels, Wuyi Wang, Liangjun Su
Research Collection School Of Economics
We propose a procedure to identify latent group structures in nonlinear panel data models where some regression coefficients are heterogeneous across groups but homogeneous within a group and the group number and membership are unknown. To identify the group structures, we consider the order statistics for the preliminary unconstrained consistent estimators of the regression coefficients and translate the problem of classification into the problem of break detection. Then we extend the sequential binary segmentation algorithm of Bai (1997) for break detection from the time series setup to the panel data framework. We demonstrate that our method is able to identify …
A Class Of N-Player Colonel Blotto Games With Multidimensional Private Information,
2021
University of Zurich
A Class Of N-Player Colonel Blotto Games With Multidimensional Private Information, Christian Ewerhart, Dan Kovenock
ESI Working Papers
In this paper, we study N-player Colonel Blotto games with incomplete information about battlefield valuations. Such games arise in job markets, research and development, electoral competition, security analysis, and conflict resolution. For M ≥ N + 1 battlefields, we identify a Bayes-Nash equilibrium in which the resource allocation to a given battlefield is strictly monotone in the valuation of that battlefield. We also explore extensions such as heterogeneous budgets, the case M ≤ N, full-support type distributions, and network games.
Economics Students: Self-Selected In Preferences And Indoctrinated In Beliefs,
2021
Chapman University
Economics Students: Self-Selected In Preferences And Indoctrinated In Beliefs, Antonio M. Espín, Manuel Correa, Alberto Ruiz-Villaverde
ESI Working Papers
There is much debate as to why economics students display more self-interested behavior than other students: whether homo economicus self-select into economics or students are instead “indoctrinated” by economics learning, and whether these effects impact on preferences or beliefs about others’ behavior. Using a classroom survey (n>500) with novel behavioral questions we show that, compared to students in other majors, econ students report being: (i) more self-interested (in particular, less compassionate or averse to advantageous inequality) already in the first year and the difference remains among more senior students; (ii) more likely to think that people will be unwilling …
Institutions And Opportunistic Behavior: Experimental Evidence,
2021
Universidad Carlos III de Madrid
Institutions And Opportunistic Behavior: Experimental Evidence, Antonio Cabrales, Irma Clots-Figueras, Roberto Hernán-González, Praveen Kujal
ESI Working Papers
Risk mitigating institutions have long been used by societies to protect against opportunistic behavior. We know little about how they are demanded, who demands them or how they impact subsequent behavior. To study these questions, we run a large-scale online experiment where insurance can be purchased to safeguard against opportunistic behavior. We compare two different selection mechanisms for risk mitigation, the individual and the collective (voting). We find that, whether individual or collective, there is demand for riskmitigating institutions amongst high-opportunism individuals, while low-opportunism individuals demand lesser levels of insurance. However, high-opportunism individuals strategically demand lower insurance institutions when they …
The Determinations Of Public Trust In The Government Of Egypt: An Empirical Study,
2021
The American University in Cairo AUC
The Determinations Of Public Trust In The Government Of Egypt: An Empirical Study, Mohamed Elimam
Theses and Dissertations
Trust is a concept that is usually studied in the context of social interactions. At varying levels, we trust our families and friends, we trust strangers who share some traits with us and even trust institutions like banks with our savings and to handle our personal finances. By expansion, political trust, or the public's trust in government as a whole and as individual agencies. Trust in government forms a basis for the legitimacy. High levels of political trust facilitates the implementation of policies with more willing compliance from the public. This is more evident in situations like global and national …
In-Group Versus Out-Group Preferences In Intergroup Conflict: An Experiment,
2021
University of Bath
In-Group Versus Out-Group Preferences In Intergroup Conflict: An Experiment, Subhashish M. Chowdhury, Anwesha Mukherjee, Roman M. Sheremeta
ESI Working Papers
Individuals participating in a group conflict have different preferences, e.g., maximizing their own payoff, maximizing the group’s payoff, or defeating the rivals. When such preferences are present simultaneously, it is difficult to distinctly identify the impact of those preferences on conflict. In order to separate in-group and out-group preferences, we conduct an experiment in which human in-group or out-group players are removed while keeping the game strategically similar. Our design allows us to study (i) how effort in a group conflict vary due to in-group and out-group preferences, and (ii) how the impact of these preferences vary when the two …
The Effect Of Attendance On Home Field Advantage In The National Football League: A Natural Experiment,
2021
Syracuse University
The Effect Of Attendance On Home Field Advantage In The National Football League: A Natural Experiment, Justin Ehrlich, Joel Potter, Shane Sanders
Sport Management - All Scholarship
While economists have previously noted that home field advantage is affected by crowd density, isolating this effect is difficult since crowd size is likely endogenous with team ability and game matchup. The COVID-19 pandemic has presented a unique natural experiment since local governments have introduced safety protocols that varies widely across the United States. These safety protocols have limited attendance in varying ways for live sporting events, including National Football League games. Given the differential (and exogenous) attendance restrictions, we were able to isolate three broad categories of attendance: 1) games without attendance restrictions (seasons 2016-2019), 2) games with limited …
Foreign Direct Investment And Economic Growth: A Panel Data Analysis,
2021
Bryant University
Foreign Direct Investment And Economic Growth: A Panel Data Analysis, Yuan Yao
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the influences of FDI on economic growth of selected Latin American and Asian countries both directly and indirectly through factors such as technology, knowledge transfer, and trade openness. The study uses the growth regression to examine and identify not only the relationship between the FDI and economic growth of the underlying countries but also the interaction effects of FDI with human capital and trade openness on the economic growth based on the statistical performance of the interaction terms in the model. The evidence from the study shows that FDI does have an impact on economic growth both …
Star Player Bias In The Nba: A Quantile Regression Approach,
2021
Bryant University
Star Player Bias In The Nba: A Quantile Regression Approach, Daniel Barrett
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the impact of an NBA player’s salary on the number of fouls drawn by them in a season. NBA referees have complete discretion in making calls of whether a player does or does not commit a foul in game, with decisions susceptible to bias, favoring certain players with more fouls called in their favor than another player. The study uses salary to determine a player’s value, using a panel dataset of all players from the 2015-16 NBA season through the 2018-19 NBA season for salary and game statistics. The impact of salary is determined using a quantile …
