Economic Theory Commons^™

Project-Based Section 8 Housing Participants' Perception Of Cultural And Structural Factors To Explain Barriers To Economic Self-Sufficiency, Yolanda Javette Clark

Dissertations

The Project-Based Section 8 program began as temporary housing of the last resort for people who experience temporary setbacks. However, due to participants' inability to become economically self-sufficient, the anti-poverty program has become permanent housing from which few families have been able to escape. Recent studies related to escaping poverty and becoming economically self-sufficient suggest cultural and structural factors are equally important and collectively impact upward economic mobility.

Similarly, the purpose of this study was to determine if Project-Based Section 8 housing participants' characteristics, described as cultural and structural barriers to economic self-sufficiency, interrelate and collectively predict ability to escape …

Volatility Occupation Times, Jia Li, Viktor Todorov, George Tauchen

Research Collection School Of Economics

We propose nonparametric estimators of the occupation measure and the occupation density of the diffusion coefficient (stochastic volatility) of a discretely observed Itô semimartingale on a fixed interval when the mesh of the observation grid shrinks to zero asymptotically. In a first step we estimate the volatility locally over blocks of shrinking length, and then in a second step we use these estimates to construct a sample analogue of the volatility occupation time and a kernel-based estimator of its density. We prove the consistency of our estimators and further derive bounds for their rates of convergence. We use these results …

Economic Indices: Managing By The Numbers, Singapore Management University

Perspectives@SMU

Understanding indices is not just about crunching numbers, but appreciating how it is constructed

Comparative Approaches To Studying Strategy: Towards An Evolutionary Account Of Primate Decision Making, Sarah F. Brosnan, Michael J. Beran, Audrey E. Parrish, Sara A. Price, Bart J. Wilson

Economics Faculty Articles and Research

How do primates, humans included, deal with novel problems that arise in interactions with other group members? Despite much research regarding how animals and humans solve social problems, few studies have utilized comparable procedures, outcomes, or measures across different species. Thus, it is difficult to piece together the evolution of decision making, including the roots from which human economic decision making emerged. Recently, a comparative body of decision making research has emerged, relying largely on the methodology of experimental economics in order to address these questions in a cross-species fashion. Experimental economics is an ideal method of inquiry for this …

Equality Of Outcome Or Equality Of Opportunity? A Simulation Of Wealth Distribution Using Agent-Based Modeling, Ozgur Ekmekci

Clinical Research and Leadership Faculty Publications

Against the backdrop of calls for a more just form of capitalism, this paper specifically focuses on the notion of equality within capitalist societies and utilizes findings from a computer simulation to explore which of one two fundamental principles, namely: (1) equality of opportunity; or (2) equality of outcome might better inform and guide reform efforts to create more uniform distribution of wealth among members of society. In this study, Agent Based Modeling (ABM), as a form of computer simulation was used to explore how the fundamental principles of equality of opportunity or equality of outcome might impact wealth …

Mountain Monitor-1st Quarter 2013, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

Economic recovery gained strength across the major metro areas of the Mountain West in the first quarter of 2013. Multiple metro areas achieved long-awaited full employment recoveries in the first quarter and regional production surpassed pre-recession levels of output for the first time. The region’s strong housing rebound continued to be a boon. Additionally, a special supplement to the Monitor shows that the healthcare sector has been an outsized contributor to recovery throughout the region. Despite progress on multiple fronts, though, many Mountain metro areas remain scarred with high unemployment rates, severely depressed house prices, and daunting jobs deficits.

Endogenous Group Formation Via Unproductive Costs, Jason A. Aimone, Laurence R. Iannaccone, Michael D. Makowsky, Jared Rubin

Economics Faculty Articles and Research

Sacrifice is widely believed to enhance cooperation in churches, communes, gangs, clans, military units, and many other groups. We find that sacrifice can also work in the lab, apart from special ideologies, identities, or interactions. Our subjects play a modified VCM game—one in which they can voluntarily join groups that provide reduced rates of return on private investment. This leads to both endogenous sorting (because free-riders tend to reject the reduced-rate option) and substitution (because reduced private productivity favours increased club involvement). Seemingly unproductive costs thus serve to screen out free-riders, attract conditional cooperators, boost club production, and increase member …

The Fii Model As An Investment In Patience: Exploring Time Preferences In Medellin, Colombia, Jennifer Graham

Master's Theses

The motivation for this research is to explore the success behind the Oakland based Family Independence Initiative (FII) as a model for poverty alleviation. During the period of June-December 2012, nearly 200 small business owners in Medellin, Colombia participated in a field experiment intended to replicate the FII model by randomizing the treatments of setting goals, receiving conditional payments, and participating in self-help groups, as well as the combinations thereof. The data shows that the subjects in the full FII treatment group achieve more goals and have significantly higher monthly sales than those subjects in any other treatment or control …

Collusion In Peer Evaluation, Suo Wang

Honors Scholar Theses

The exact consensual and impartial division function by DeClippel et al (2008) offers a procedure for dividing a fixed award among partners. The peer evaluation mechanism proposed by DeClippel et al (2008) offers participating partners incentives to tell the truth. This paper examines and demonstrates that, when agents form at most one coalition and report wrong values of the relative shares, they capture the total amount of money being divided and their share improves by exactly the same percentage. When multiple coalitions emerge, the division function fails to assign payoffs to each partner. This paper also includes a discussion of …

Three Essays On Renewable Energy, Kepifri Alpha Lakoh

Department of Agricultural Economics: Dissertations, Theses, and Student Research

This dissertation studies three main issues related to renewable energy in the United States and in Sub Sahara Africa.

The first chapter seeks to provide answers to a very fundamental question for second generation biofuels: “How much crop residue can farmers harvest from their fields for sale to cellulosic ethanol companies without affecting current levels of production?” The model developed is applied to 101 counties from four Midwestern states in the United States (Colorado, Iowa, Nebraska and Wyoming). Results show that soil organic matter significantly contributes to explaining changes in technical efficiency and total factor productivity. Furthermore, average crop …

Inflation Targeting And Growth: The Role Of The Tradable Sector, Luis Monroy Gómez Franco

Undergraduate Economic Review

This paper provides an analytical explanation to the empirical association between monetary policy conducted according to the inflation targeting (IT) framework and the appreciation of the exchange rate, relating it to the literature on the effects of the exchange rate on growth. A two sector small open economy model is developed in which the behavior of the non tradable inflation and the nominal exchange rate are analyzed. The results indicate that the response to inflation variance under the IT regime causes the appreciation trend. Since this trend is not reversed immediately, increasing returns in the tradable sector affect capital accumulation.

An Assessment Of Hydroelectric Feasibility At Colonel Charles D. Maynard Dam In Tucker, Arkansas, Connor Quigley

Economics Undergraduate Honors Theses

The primary purpose of this report is to analyze the economic feasibility of converting the Colonel Charles D. Maynard Lock and Dam to a hydroelectric facility. This report takes a traditional cost-benefit analysis approach and includes a sensitivity and scenario analysis.

The Economic Theory Of Deregulation, Samuel D. Gass

Renée Crown University Honors Thesis Projects - All

One of the consequences of the financial crisis of 2008 was a renewed focus on the issue of deregulation. The broadly recognized connection between the greatest economic downturn since the Great Depression and the systematic deregulation of our financial markets dating back over three decades reinvigorated the economic and political debate around the appropriate balance between market freedom and government regulation. This paper explores this theme historically, analyzing several economic markets that were highly regulated prior to the late 20^th century. Through this analysis it establishes a foundational framework for the study of the widespread deregulation of the late …

On Domains That Admit Well-Behaved Strategy-Proof Social Choice Functions, Shurojit Chatterji, Rezmi Sanver, Arunava Sen

Research Collection School Of Economics

In this paper, we investigate domains that admit “well-behaved” strategy-proof social choice functions. We show that if the number of voters is even, then every domain that satisfies a richness condition and admits an anonymous, tops-only, unanimous and strategy-proof social choice function, must be semi-single-peaked. Conversely every semi-single-peaked domain admits an anonymous, tops-only, unanimous and strategy-proof social choice function. Semi-single-peaked domains are generalizations of single-peaked domains on a tree introduced by Demange (1982).

Agency Decision-Making For Climate Change: Cost-Benefit Analysis, The Precautionary Principle, And The Bounds Of Rationality, Laura Carr

Pomona Senior Theses

Climate change tests the limits of human understanding of complexity and uncertainty. It challenges assumptions about our presumed power of control over this planet. This paper examines the theory of how governmental executive branch agencies make regulation decisions about climate change using the decision-making methodologies of cost-benefit analysis and the precautionary principle, and as influenced by perceptions of the bounds of human rationality and ability to deal with risk and uncertainty.

Are Tournaments Optimal Over Piece Rates Under Limited Liability For The Principal?, Kosmas Marinakis, Theofanis Tsoulouhas

Research Collection School Of Economics

A highly acclaimed result is that tournaments are superior to piece rates when the agents are risk averse and their production activities are subject to a relatively large common shock. The reason is that tournaments allow the principal to trade insurance for lower income to the agents. Our analysis shows that this celebrated result does not carry over to the case when a limited liability (bankruptcy) constraint limits the payments the principal can make, provided that the liquidation value of the firm is sufficiently small. This finding has important implications for the vast number of limited liability firms. Even though …

The First Struggles Of The Capitalistic Peace And Its Detractors: An Analysis Of Greek Trade And Its Effects On Foreign Policy In The Athenian State, Joshua Blume

Undergraduate Honors Capstone Projects

Although, a ubiquitous number of articles has arisen recently debating the validity of the so-called "Capitalist Peace," there has been little exploration of the theory from an ancient historical perspective, primarily due to the lack of trade data between countries or city-states. As the primordial birthplace of trade and democracy, there is perhaps no better example than ancient Greece to shed insight into the possible validity of the capitalist peace theory. Utilizing new research involving trade in ancient Greece, this paper seeks to explore the relative validity of the "Capitalist Peace" in ancient Greece by conducting a qualitative analysis of …

[Sabbatical Report], Alex Lebedinsky

Sabbatical Reports

During the sabbatical leave I collaborated with Dr. Ferhan Atici of the Mathematics department on a new theory of mathematical modeling called Time Scale Calculus (TSC). Dr. Atici and I are also working on another article (titled) "Cagan-type rational expectation model on complex discrete time domains."

Go West Young Man: Self-Selection And Endogenous Property Rights, Taylor Jaworski, Bart J. Wilson

Economics Faculty Articles and Research

If, as Hume argues, property is a self-referring custom of a group of people, then property rights depend on how that group forms and orders itself. In this article we investigate how people construct a convention for property in an experiment in which groups of self-selected individuals can migrate between three geographically separate regions. To test a hypothesis of Demsetz's, we vary across two treatments the external benefits of migrating. We find that self-selection has a powerful effect on establishing conventions of property and begetting increases in wealth through exchange and specialization. We also find support for the Demsetz hypothesis.

A Smooth Test For The Equality Of Distributions, Anil Bera, Aurobindo Ghosh, Zhijie Xiao

Research Collection School Of Economics

The two-sample version of the celebrated Pearson goodness-of-fit problem has been a topic of extensive research, and several tests like the Kolmogorov-Smirnov and Cramer-von Mises have been suggested. Although these tests perform fairly well ´ as omnibus tests for comparing two probability density functions (PDFs), they may have poor power against specific departures such as in location, scale, skewness, and kurtosis. We propose a new test for the equality of two PDFs based on a modified version of the Neyman smooth test using empirical distribution functions minimizing size distortion in finite samples. The suggested test can detect the specific directions …