Your Money Or Your Time? Experimental Evidence On Overbidding In All-Pay Auctions,
2018
Chapman University
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,
2018
Foundation for Economic Education
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.
Rhode Island Current Conditions Index -- March 2018,
2018
University of Rhode Island
Rhode Island Current Conditions Index -- March 2018, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Extremal Quantile Regressions For Selection Models And The Black-White Wage Gap,
2018
CREST
Extremal Quantile Regressions For Selection Models And The Black-White Wage Gap, Xavier D'Haultfoeuille, Arnaud Maurel, Yichong Zhang
Research Collection School Of Economics
We consider the estimation of a semiparametric sample selection model without instrument or large support regressor. Identification relies on the independence between the covariates and selection, for arbitrarily large values of the outcome. We propose a simple estimator based on extremal quantile regression and establish its asymptotic normality by extending previous results on extremal quantile regressions to allow for selection. Finally, we apply our method to estimate the black-white wage gap among males from the NLSY79 and NLSY97. We find that premarket factors such as AFQT and family background play a key role in explaining the black-white wage gap.
Experimental Evidence On The Cyclicality Of Investment,
2018
Ohio University
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,
2018
Harvard University
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 …
Is There Really A Foreign Language Premium In Canada?: Evaluating The Foreign Language Effect On Canadian Wages,
2018
University of British Columbia
Is There Really A Foreign Language Premium In Canada?: Evaluating The Foreign Language Effect On Canadian Wages, Peter C. Ki
Undergraduate Economic Review
Given the debates on whether knowing a foreign language has a positive or negative effect on wages, there is little or no research conducted on how it fares in Canada, despite extensive studies on French and English. Using the Public Use Microdata Files of the 2011 National Household Survey by Statistics Canada, I find a 2.84% wage penalty for Canadians who know a foreign language and an even greater penalty for Canadians who use these languages at work. I proceed to decompose the results by language and occupation to find varying results. I also attempt to use a religion proxy …
Rhode Island Current Conditions Index -- February 2018,
2018
University of Rhode Island
Rhode Island Current Conditions Index -- February 2018, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Integrated Deviance Information Criterion For Latent Variable Models,
2018
Renmin University of China
Integrated Deviance Information Criterion For Latent Variable Models, Yong Li, Jun Yu, Tao Zeng
Research Collection School Of Economics
Deviance information criterion (DIC) has been widely used for Bayesian model comparison, especially after Markov chain Monte Carlo (MCMC) is used to estimate candidate models. This paper studies the problem of using DIC to compare latent variable models after the models are estimated by MCMC together with the data augmentation technique. Our contributions are twofold. First, we show that when MCMC is used with data augmentation, it undermines theoretical underpinnings of DIC. As a result, by treating latent variables as parameters, the widely used way of constructing DIC based on the conditional likelihood, although facilitating computation, should not be used. …
Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance,
2018
CUNY Graduate Center
Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita
Dissertations, Theses, and Capstone Projects
This dissertation develops three new econometric models using Bayesian state space representation model in order to apply to macroeconomics and international finance. It consists of 3 chapters. Chapter 1 develops a Markov mixture model of macroeconomic fundamentals to analyze the short-run dynamics of foreign exchange rates. In our model, foreign exchange rates are simultaneously determined by three parities: the interest rate parity, the inflation rate parity, and the equity return rate parity. Using four exchange rates: the U.S. dollar price of the British pound, the German mark, the Japanese yen, and the Canadian dollar, the findings are: (1) Our model …
Return And Volatility Spillovers Between The Renminbi And Asian Currencies,
2018
Singapore Management University
Return And Volatility Spillovers Between The Renminbi And Asian Currencies, Hwee Kwan Chow-Tan
Research Collection School Of Economics
This paper examines the extent of interdependence between the Chinese Renminbi and Asian currenciesafter the global financial crisis. We combine the distinct influence of offshore Renminbi with the impact ofthe onshore rate on eight Asian currencies (including the Australian dollar). Diebold-Yilmaz spilloverindexes reveal Asian foreign exchange markets are subject to considerable cross-border transmissions. Interms of the US dollar bilateral exchange rates, cross-border transfers of daily return are strongercompared to daily volatility reflecting currency management by regional authorities to curb excessiveexchange rate volatility. Return spillovers from the Renminbi markets to individual Asian foreignexchange markets are generally on par with that from …
The Tug-Of-War In The Laboratory,
2018
Chapman University
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 …
Impact Of Behavioral Finance/Economics On Investment Decisions,
2018
Bryant University
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,
2018
Bryant University
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.
Rhode Island Current Conditions Index -- January 2018,
2018
University of Rhode Island
Rhode Island Current Conditions Index -- January 2018, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Benchmarking The Educational Progress Of African American And Latino Students In Arkansas,
2018
University of Arkansas, Fayetteville
Benchmarking The Educational Progress Of African American And Latino Students In Arkansas, Mervin Jebaraj
Urban League of the State of Arkansas
The Urban League of Arkansas partnered with the Center for Business and Economic Research in the Sam M. Walton College of Business at the University of Arkansas to produce a report providing data to identify twelve key areas of need in the African American and Latino communities in Arkansas and to assist in the development of programs and policies to address them. The twelve indicators are enrollment, expenditure per student, fourth grade literacy and math achievement levels, eighth grade literacy and math achievement levels, disciplinary actions, dropout rates, graduation rates, college going rates, educational attainment for the population over the …
A Data Analysis Of Fdi Inflows And Poverty Rates In Central America,
2018
Bryant University
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.
Effect Of Climate Change On Economic Growth In At Risk African Nations,
2018
Bryant University
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,
2018
Bryant University
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,
2018
Bryant University
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 …
