Craft Beer Expansion In The United States,
2016
Claremont McKenna College
Craft Beer Expansion In The United States, Alex J. Herrera
CMC Senior Theses
For centuries the world’s biggest breweries, including Anheuser-Busch InBev and MillerCoors, have been producing America’s favorite beers like Budweiser and Coors Light. However, more recently smaller, craft breweries have seen significant expansion as a growing number of Americans are drinking craft beers. How has this recent trend affected the beer market in the United States? More specifically, how has the recent success of craft breweries affected Anheuser-Busch InBev and MillerCoors? I examine the economic factors that have led to craft beer’s success in a highly competitive market, and further, how this success has impacted Anheuser-Busch InBev and MillerCoors. My study …
Causes And Consequences Of The Protestant Reformation,
2016
University of Warwick
Causes And Consequences Of The Protestant Reformation, Sascha O. Becker, Steven Pfaff, Jared Rubin
ESI Working Papers
The Protestant Reformation is one of the defining events of the last millennium. Nearly 500 years after the Reformation, its causes and consequences have seen a renewed interest in the social sciences. Research in economics, sociology, and political science increasingly uses detailed individual-level, city-level, and regional-level data to identify drivers of the adoption of the Reformation, its diffusion pattern, and its socioeconomic consequences. This survey takes stock of the research so far, tries to point out what we know and what we do not know, and which are the most promising areas for future research.
Payment Scheme Self-Selection In The Credence Goods Market: An Experimental Study,
2016
CIDE
Payment Scheme Self-Selection In The Credence Goods Market: An Experimental Study, Hernan Bejarano, Ellen P. Green, Stephen Rassenti
ESI Working Papers
Given heterogeneity in expert behavior across payment schemes in credence goods markets, it becomes important to understand the consequences of payment scheme selection. To study the effect on customer well being of expert self-selection, we recruited subjects to participate in a real-effort credence good laboratory market. Experts were either randomly assigned or faced with the choice of three payment schemes: fee-for-service, salary, and capitation. We found that experts who selected fee-for-service payment resulted in customers with significantly worse outcomes in comparison with experts who had been randomly assigned to fee-for-service. In contrast, experts who selected salary payment did not change …
Bringing A Natural Experiment Into The Laboratory: The Measurement Of Individual Risk Attitudes,
2016
University of Economics in Bratislava
Bringing A Natural Experiment Into The Laboratory: The Measurement Of Individual Risk Attitudes, Zuzana Brokesova, Cary Deck, Jana Peliova
ESI Working Papers
Controlled laboratory experiments have become a generally accepted method for studying economic behavior, but there are two issues that regularly arise with such work. The first pertains to the ability to generalize experimental results outside the laboratory. While laboratory experiments are typically designed to mimic naturally occurring situations, ceteris paribus comparisons are rare. Using data from a promotional campaign by a bank and a matching laboratory experiment, we find similar patterns of risk taking behavior controlling for gender and age. The second issue pertains to the impact that the payment procedure in an experiment has on observed risk taking behavior. …
The Impact Of Taxes And Wasteful Government Spending On Giving,
2016
Chapman University
The Impact Of Taxes And Wasteful Government Spending On Giving, Roman M. Sheremeta, Neslihan Uler
ESI Working Papers
We examine the impact of taxes and wasteful government spending on charitable giving. In our model, the government collects a flat-rate tax on income net of donations and wastes part of the tax revenue before redistribution. The model provides theoretical predictions which we test in a framed field experiment. The results of the experiment show that the tax rate has a weak and insignificant effect on giving. The degree of waste, however, has a large, negative and significant effect on giving, with the relationship moderated by the curvature in the utility function.
Random Expected Utility And Certainty Equivalents: Mimicry Of Probability Weighting Functions,
2016
Chapman University
Random Expected Utility And Certainty Equivalents: Mimicry Of Probability Weighting Functions, Nathaniel Wilcox
ESI Working Papers
For simple prospects of the kind routinely used for certainty equivalent elicitation, random expected utility preferences imply a conditional expectation function that can mimic deterministic rank dependent preferences. That is, an agent with random expected utility preferences can have mean certainty equivalents that look exactly like rank dependent probability weighting functions of the inverse-s shape discussed by Quiggin (1982) and later advocated by Tversky and Kahneman (1992) and other scholars. It seems that certainty equivalents cannot nonparametrically identify preferences, at least not in every relevant sense, since their conditional expectation depends on assumptions concerning the source and nature of their …
Axioms For Salience Perception,
2016
National Science Foundation
Axioms For Salience Perception, Jonathan W. Leland, Mark Schneider
ESI Working Papers
Models of salience-based choice have become popular in recent years, although there is still no known set of simple conditions or axioms which implies the existence of a salience function. In this paper, we provide simple and natural axioms that characterize the general class of salience functions. As an application we consider a salience-based model of decision making and show that within that setup the fourfold pattern of risk attitudes is a general property of a salience function and that the properties producing that pattern also account for other anomalies involving risky and intertemporal choice.
Trust And Trustworthiness Under Information Asymmetry And Ambiguity,
2016
Universidad Carlos III de Madrid
Trust And Trustworthiness Under Information Asymmetry And Ambiguity, Irma Clots-Figueras, Roberto Hernán-González, Praveen Kujal
ESI Working Papers
We introduce uncertainty and ambiguity in the standard investment game. In the uncertainty treatment, investors are informed that the return of the investment is drawn from a publicly known distribution function. In the ambiguity treatment, investors are not informed about the distribution function. We find that both trust and trustworthiness are robust to the introduction of these changes.
What Makes A Good Trader? On The Role Of Intuition And Reflection On Trader Performance,
2016
Chapman University
What Makes A Good Trader? On The Role Of Intuition And Reflection On Trader Performance, Brice Corgnet, Mark Desantis, David Porter
ESI Working Papers
Using simulations and experiments, we pinpoint two main drivers of trader performance: cognitive reflection and theory of mind. Both dimensions facilitate traders’ learning about asset valuation. Cognitive reflection helps traders use market signals to update their beliefs whereas theory of mind offers traders crucial hints on the quality of those signals. We show these skills to be complementary because traders benefit from understanding the quality of market signals only if they are capable of processing them. Cognitive reflection relates to previous Behavioral Finance research as it is the best predictor of a trader’s ability to avoid commonly-observed behavioral biases.
The Effects Of Experience, Choice Architecture, And Cognitive Reflection In Individual And Strategic Decisions,
2016
Chapman University
The Effects Of Experience, Choice Architecture, And Cognitive Reflection In Individual And Strategic Decisions, Mark Schneider, David Porter
ESI Working Papers
Cognitive reflection has been shown to be an important trait which is correlated with the propensity to: take risks, delay gratification, and form accurate beliefs about others’ behavior. However, previous research has not cleanly identified whether reflective thinkers make ‘better’ decisions than intuitive thinkers, since inferences of decision quality are confounded by inferences regarding risk preferences, time preferences, and beliefs. We directly test for differences in decision quality between reflective thinkers and intuitive thinkers in both individual and strategic decisions using a design which makes it possible to objectively rank risky and strategic choices, independent of one’s attitudes toward risk …
Economic Policy Implications Of Port Concession In Nigeria,
2016
Walden University
Economic Policy Implications Of Port Concession In Nigeria, Chiedu Bertram Ndubisi
Walden Dissertations and Doctoral Studies
Previous research on privatization has focused on its effect on output, profitability, investment, and efficiency at the level of the firm, neglecting the economic growth and other impacts. Nigeria's port privatization through concession in 2006 covered virtually all the ports in the economy. However, the few studies on the subject neither factored in the complexity that characterize the multiple port system nor controlled for alternative explanations of the changes in the economy. This correlational study tested the property rights theory by investigating whether the changes in production efficiency at the ports following privatization are good predictors of economic growth in …
Eastern Economic Association Conference,
2016
Bard College
Eastern Economic Association Conference, Anwar Shaikh Phd
Archives of Anwar Shaikh
as an archivist detailing a new entry, analyze the uploaded file and give an outline of the material with all dates standardized, all bullet-point item formatting, and sentence case for titles, and italics for all titles, 1.5 spacing between paragraphs, and expand the published items into full apa references with publisher details and journal information but without internet links, or any further description of the different items, standardize the handwritten notes, emails, and comments into full apa-style manuscript citations so they match the level of formality of the published papers, with all handwritten notes credited to anwar shaikh, phd unless …
Responses To Change In The Global Political Economy Of Innovation – The Role Of Sub-National States In Industrial Transition,
2016
Balsillie School of International Affairs, Wilfrid Laurier University
Responses To Change In The Global Political Economy Of Innovation – The Role Of Sub-National States In Industrial Transition, Dan Herman
Theses and Dissertations (Comprehensive)
This dissertation seeks to explore how sub-national levels of the state promote the development of new industrial sectors. To do so this dissertation builds on a series of theoretical perspectives on the role of the state in the economy and develops a unique view of how sub-national states coalesce and contrast within these perspectives. It does so through a series of empirical case studies focused on sub-national jurisdictions in North America that highlight diverse varieties of state actions that contribute, if not lead, industrial transitions and the development of new innovation-oriented industrial sectors. In so doing, the dissertation presents a …
Gender Biases In Delegation,
2016
Chapman University
Gender Biases In Delegation, Eleonora Bottino, Teresa García-Muñoz, Praveen Kujal
ESI Working Papers
We explore gender biases towards delegation in a modified (delegation) dictator game. Under compulsory delegation and no (gender) revelation no significant gender differences are observed for choices made by principals. Male agents share little with the recipients, meanwhile, female (agents) are not responsive to the incentive scheme and return less to the dictator. However, a clear dichotomy in female behavior is observed under gender revelation. As principals, females behave similar to their male counterparts and appoint as agents those who return more to them. On the other hand, as agents’ females show greater redistributive concerns relative to their male counterparts …
Ambiguity Framed,
2016
Chapman University
Ambiguity Framed, Mark Schneider, Jonathan W. Leland, Nathaniel Wilcox
ESI Working Papers
In his exposition of subjective expected utility theory, Savage (1954) proposed that the Allais paradox could be reduced if it were recast into a format which made the appeal of the independence axiom of expected utility theory more transparent. Recent studies consistently find support for this prediction. We consider a salience-based choice model which explains this frame-dependence of the Allais paradox and derive the novel prediction that the same type of presentation format which was found to reduce Allais-style violations of expected utility theory will also reduce Ellsberg-style violations of subjective expected utility theory since that format makes the appeal …
Money And The Scale Of Cooperation,
2015
University of Bologna
Money And The Scale Of Cooperation, Maria Bigoni, Gabriele Camera, Marco Casari
ESI Working Papers
This study reveals the existence of a causal link between the availability of money and an expanded scale of interaction. We constructed an experiment where participants chose the group size, either a low-value partnership or a high-value group of strangers, and then faced an intertemporal cooperative task. Theoretically, a monetary system was inessential to achieve cooperation. Empirically, without a working monetary system, participants were reluctant to expand the scale of interaction; and when they did, they ended up destroying surplus compared to partnerships, because cooperation collapsed in large groups. This economic failure was reversed only when participants managed to concurrently …
Helminth Infection, Fecundity, And Age Of First Pregnancy In Women,
2015
University of California, Santa Barbara
Helminth Infection, Fecundity, And Age Of First Pregnancy In Women, Aaron D. Blackwell, Marilyne D. Tamayo, Bret Beheim, Benjamin C. Trumble, Jonathan Stieglitz, Paul L. Hooper, Melanie Martin, Hillard Kaplan, Michael Gurven
ESI Publications
Infection with intestinal helminths results in immunological changes that influence the odds of comorbid infections, and might also affect fecundity by inducing immunological states supportive of conception and pregnancy. Here we investigate associations between intestinal helminths and fertility in human females, utilizing nine years of longitudinal data from 986 Bolivian forger-horticulturalists, experiencing natural fertility and a 70% helminth prevalence. We find that different species of helminth are associated with opposing effects on fecundity. Infection with roundworm (Ascaris lumbricoides) is associated with earlier first births and shortened interbirth intervals, while infection with hookworm is associated with delayed first pregnancy and extended …
Cognitive Reflection And The Diligent Worker: An Experimental Study Of Millennials,
2015
Chapman University
Cognitive Reflection And The Diligent Worker: An Experimental Study Of Millennials, Brice Corgnet, Roberto Hernán-González, Ricardo Mateo
Economics Faculty Articles and Research
Recent studies have shown that despite crucially needing the creative talent of millennials (people born after 1980) organizations have been reluctant to hire young workers because of their supposed lack of diligence. We propose to help resolve this dilemma by studying the determinants of task performance and shirking behaviors of millennials in a laboratory work environment. We find that cognitive ability is a good predictor of task performance in line with previous literature. In contrast with previous research, personality traits do not consistently predict either task performance or shirking behaviors. Shirking behaviors, as measured by the time participants spent browsing …
He_Rtland: The Violence Of Neoliberalism,
2015
University of South Florida
He_Rtland: The Violence Of Neoliberalism, Hector Sotomayor
USF Tampa Graduate Theses and Dissertations
Perhaps, under the consciousness of today, “neoliberalism” has defined our world during the previous and current centuries more than any other socioeconomic system. But the evolution of this ideology, which initially aimed to enhance, or rather, reinvent capitalism and individual freedom, has, in essence, induced an unrecognized problem. I argue that neoliberalism is the catalyst for much of the hostility in this globalized society where tensions and poverty are casualties of individual and corporate prosperity. Because of this revelation, I argue that neoliberalism inadvertently instills violence that is both unseen and gendered. In order to formulate my argument, I introduce …
Natural Sleep And Its Seasonal Variations In Three Pre-Industrial Societies,
2015
University of New Mexico
Natural Sleep And Its Seasonal Variations In Three Pre-Industrial Societies, Gandhi Yetish, Hillard Kaplan, Michael Gurven, Brian Wood, Herman Pontzer, Paul R. Manger, Charles Wilson, Ronald Mcgregor, Jerome M. Siegel
ESI Publications
How did humans sleep before the modern era? Because the tools to measure sleep under natural conditions were developed long after the invention of the electric devices suspected of delaying and reducing sleep, we investigated sleep in three preindustrial societies[1–3]. We find that all three show similar sleep organization, suggesting that they express core human sleep patterns, likely characteristic of pre-modern era Homo sapiens. Sleep periods, the times from onset to offset, averaged 6.9–8.5-h, with sleep durations of 5.7–7.1-h, amounts near the low end of those industrial societies[4–7]. There was a difference of nearly 1-h between summer and winter sleep. …
