Evaluating The Conditions For Robust Mechanism Design,
2010
Singapore Management University
Evaluating The Conditions For Robust Mechanism Design, Takashi Kunimoto, Roberto Serrano
Research Collection School Of Economics
We assess the strength of the different conditions identified in the literature of robustmechanism design. We focus on three conditions: ex post incentive compatibility,robust monotonicity, and robust measurability. Ex post incentive compatibility hasbeen shown to be necessary for any concept of robust implementation, while robustmonotonicity and robust measurability have been shown to be necessary for robust(full) exact and virtual implementation, respectively. This paper shows that whileviolations of ex post incentive compatibility and robust monotonicity do not easily goaway, we identify a mild condition on environments in which robust measurability issatisfied by all social choice functions over a residual set (i.e., …
Revisiting The Impact Of The Designated Hitter On Major League Baseball,
2010
Clemson University
Revisiting The Impact Of The Designated Hitter On Major League Baseball, Andrew Cooley
All Theses
In 1973, team owners in Major League Baseball's American League voted in favor of introducing the designated hitter into their offensive lineups. The National League owners voted against such a rule change that year and since on several different occurrences. Baseball fans, sportswriters, players, owners, economists and others have weighed in on the impact of the designated hitter rule change on Major League Baseball. Chapter One of this paper reviews recent published writings by economists on the impact of the designated hitter. Team owners gave several reasons for advocating the dramatic designated rule change in the American League. Chapter Two …
System Dynamics Implementation Of An Extended Brander And Taylor-Like Easter Island Model,
2010
Portland State University
System Dynamics Implementation Of An Extended Brander And Taylor-Like Easter Island Model, Takuro Uehara, Yoko Nagase, Wayne Wakeland
Complex Systems Faculty Publications and Presentations
We provide a system dynamics implementation of a dynamic ecological economics model. Dynamic economic models are often constrained to use functions, such as the Cobb-Douglas function, chosen “conveniently” to allow for analytic solutions. The C-D function, however, suffers from its fixed elasticity that does not allow for the substitutability between man-made capital and natural capital to change, which is vital for economic sustainability. Using system dynamics removes this constraint and enables more realistic ecological economics models containing functions not amenable to analytic solution. The base model is the natural resource and population growth model developed by Brander and Taylor (1998) …
Financial Illiteracy: Prevalence, Consequences, And Solutions,
2010
Portland State University
Financial Illiteracy: Prevalence, Consequences, And Solutions, Gerald Matasy
Economics Undergraduate Honors Theses
As Americans have become increasingly responsible for their own financial security their ability to make financial decisions in their best interests has certainly grown in importance. The focus of this paper is to determine what role financial literacy plays in making optimal financial decisions and maintaining economic stability. Using mostly research from other studies and some original research, this paper seeks to examine the level of financial literacy among the general population and what the implications are for the general lack of literacy. What I find is that individuals who have lower levels of financial literacy generally make poorer financial …
Factors Affecting Brand Loyalty Among Malaysian Consumers In Their Choice Of Mobile Phone Brands.,
2010
Universiti Malaya
Factors Affecting Brand Loyalty Among Malaysian Consumers In Their Choice Of Mobile Phone Brands., Bel Lew Lee Peng
Student Works (2010-2019)
Purpose Brand loyalty is a key factor that explains brand choice with which the consumer expresses his/her satisfaction with a brand. It is also one of the key constructs predicting consumer behavior. This study proposes and tests a five-factor model that explains the variations in the choice of mobile phone brands among Malaysian consumers. These factors include brand name, brand design, perceived quality, price and promotion. Design/ Methodology/ Approach A survey questionnaire was used as the research instrument for data collection in this study. The methods of collecting the quantitative survey data included self-administered and e-mailed questionnaires. Data was collected …
Innovation, Markets, And Evolution,
2010
Portland State University
Innovation, Markets, And Evolution, Mitch Green
Economics Undergraduate Honors Theses
This paper approaches innovation from an evolutionary perspective. Literature spanning a broad range of traditions in economics is considered, to include Institutionalist, Schumpeterian, post-Keynesian, and growth theorists. Key systemic changes are examined in the context of prevailing technological and social institutions. It is argued that expectation-fixing effects such as path-dependence in investment and innovation provide structure to a social network of market institutions that seek to validate money contracts. The institution of money is considered as a center of power in the system and affects the course of innovation. Money as the unit of account becomes the object of …
Thirlwall's Law And Krugman's 45-Degree Rule: Mathematically Identical, Mutually Exclusive,
2010
Portland State University
Thirlwall's Law And Krugman's 45-Degree Rule: Mathematically Identical, Mutually Exclusive, Karl Garbacik
Economics Undergraduate Honors Theses
Thirlwall's Law and the 45-degree rule, originally formulated by Krugman, are radically different interpretations of the same statistical regularity. This statistical regularity is that a country's long-run growth rate will approximate to the ratio of that country's export growth to its import elasticity of demand. Thirlwall's Law falls under a Post-Keynesian framework which is primarily a demand-side model. The 45-degree rule relies on a supply-side interpretation, a result of its neoclassical origins. This thesis seeks to answer two questions. The first is, are the members of the Post-Keynesian and neoclassical communities working on each of these theories aware of the …
Unilateral Measures And Emissions Mitigation,
2010
Singapore Management University
Unilateral Measures And Emissions Mitigation, Shurojit Chatterji, Sayantan Ghosal, Sean Walsh, John Whalley
Research Collection School Of Economics
We discuss global climate mitigation that builds on existing unilateral measures to cut emissions. We document and discuss the rationale for such unilateral measures argue that such measures have the potential to generate positive spillover effects both within and across countries. In a simple dynamic model of learning we show that while single countries on their own may never get to the point of switching completely to low emission activities, a learning process with positive spillovers across nations is more likely to deliver a global switch to low emissions. We discuss the key features of a new global Intellectual Property …
How Robust Is Undominated Nash Implementation?,
2010
Singapore Management University
How Robust Is Undominated Nash Implementation?, Takashi Kunimoto
Research Collection School Of Economics
Palfrey and Srivastava (1991) show that almost any social choice correspondence(SCC) is implemented in undominated Nash equilibrium, a refinement of Nash equilibrium. By requiring solution concepts to have closed graph in the limit of complete information, Chung and Ely (2003) investigate the robustness of undominated Nash implementation. Their robustness test concludes that when preferences are strict (or more generally, hedonic), only monotonic SCCs can be implemented in the closure of the undominated Nash (equilibrium) correspondence. This paper re-examines this robustness test. I show that almost any SCC is implemented in the closure of the undominated Nash correspondence, provided that the …
Do Ct Scans Help Prevent Cancer-Related Deaths?,
2010
Syracuse University
Do Ct Scans Help Prevent Cancer-Related Deaths?, Auyon J. Ghosh
Renée Crown University Honors Thesis Projects - All
This paper uses a region-level estimation approach associated with medical procedures to identify the effectiveness of X-ray Computed Axial Tomography (CT) scans as a diagnostic tool in preventing cancer-related deaths. In order to measure the effects of the CT scan on cancer-related deaths, I use data from both the National Health Interview Survey and the Vital Statistics of the United States. For all four regions, we observe an increase in CT scan use after 1979 or, as illustrated specifically in the figure, from 1975 to 1980. All four regions exhibit marked increases in lung cancer-related deaths, very little fluctuation in …
Homo Economicus: Alive And Diversified In The Economic Research Program,
2010
Syracuse University
Homo Economicus: Alive And Diversified In The Economic Research Program, Bradley R. Turner
Renée Crown University Honors Thesis Projects - All
This paper seeks to (1) offer a conceptual overview of the methodology of science research programs (MSRP) of Imre Lakatos; (2) apply the framework of that methodology to the neoclassical theory of Gary S. Becker; and (3) explore a quantitative-driven, atheoretical alternative, which challenges the view that there can be or should be any body of theoretical economics. The MSRP framework is used in an instrumental manner in the pursuit of a lucid and interesting historical analysis. The pros and cons of Becker’s approach are presented in the tradition of instrumentalism, and in light of recent discussion of economics imperialism. …
On Domains That Admit Well-Behaved Strategy-Proof Social Choice Functions,
2010
Singapore Management University
On Domains That Admit Well-Behaved Strategy-Proof Social Choice Functions, Shurojit Chatterji, Remzi 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
Reclaiming Prosperity: Repositioning Southern Nevada For The Next Economy,
2010
Brookings Institute, Vice President; Brookings Metropolitan Policy Program, Founding Director
Reclaiming Prosperity: Repositioning Southern Nevada For The Next Economy, Bruce Katz
Brookings Scholar Lecture Series
The outlines of the next American economy are coming into focus, yet the future remains uncertain in Southern Nevada as America's newest metropolis labors through a major recession. It is time therefore to get back on track and begin laying the foundation for a new and more durable kind of growth in metropolitan Las Vegas and across the Intermountain West. To help with that, urban visionary Bruce Katz advanced a powerful depiction of the next American economy in a major UNLV lecture and articulated a bold agenda for helping Las Vegas reclaim prosperity in the new era.
Economic Thinking And Risk Attitudes: An Empirical Study,
2010
Univeristy of Graz, Graz, Austria
Economic Thinking And Risk Attitudes: An Empirical Study, Peter Slepcevic-Zach, Ph.D., Thomas Koeppel
International Journal for Business Education
In the light of the current economic crisis, which had its roots in high risk dealings in the international financial markets, the question how economically minded students are and what propensity towards risk they have, are essential to improving their financial literacy. In a broad survey including economic and non-economic schools 649 students aged 14 and 18 were questioned. In this paper results are presented and implications for classroom teaching and curricular development are derived.
Determinants Of Housing Prices In Pittsylvania County,
2010
Lynchburg College
Determinants Of Housing Prices In Pittsylvania County, Jason Hall
Undergraduate Theses and Capstone Projects
The purpose of this research is to determine the implicit factors influencing housing prices in Pittsylvania County, a rural county in Southside Virginia. Currently in Pittsylvania County there is a debate over whether or not to mine what is believed to be the largest deposit of uranium in the United States, containing approximately 119 million pounds of uranium ore at an estimated value of $7 billion to $10 billion. The Virginia Coal and Energy Commission issued its final approval for the National Academy of Sciences to study the debate from a socio-economic standpoint. The $1.2 million study is currently taking …
The Social Strategy Game: Resource Competition Within Female Social Networks Among Small-Scale Forager-Horticulturalists,
2010
California Polytechnic State University, San Luis Obispo
The Social Strategy Game: Resource Competition Within Female Social Networks Among Small-Scale Forager-Horticulturalists, Stacey L. Rukas, Michael Gurven, Hillard Kaplan, Jeffrey Winking
ESI Publications
This paper examines social determinants of resource competition among Tsimane Amerindian women of Bolivia. We introduce a semi-anonymous experiment (the Social Strategy Game) designed to simulate resource competition among women. Information concerning dyadic social relationships and demographic data were collected to identify variables influencing resource competition intensity, as measured by the number of beads one woman took from another. Relationship variables are used to test how the affiliative or competitive aspects of dyads affect the extent of prosociality in the game. Using a mixed-modeling procedure, we find that women compete with those with whom they are quarreling over accusations of …
Countervailing Power In Wholesale Pharmaceuticals,
2010
Massachusetts Institute of Technology
Countervailing Power In Wholesale Pharmaceuticals, Sara F. Ellison, Christopher M. Snyder
Dartmouth Scholarship
Using data on wholesale prices for antibiotics sold to U.S. drugstores, we test the growing theoretical literature on ‘countervailing power’ (a term for the ability of large buyers to extract discounts from suppliers). Large drugstores receive a modest discount for antibiotics produced by competing suppliers but no discount for antibiotics produced by monopolists. These findings support theories suggesting that supplier competition is a prerequisite for countervailing power. As further evidence for the importance of supplier competition, we find that hospitals receive substantial discounts relative to drugstores, attributed to hospitals' greater ability to induce supplier competition through restrictive formularies.
Monopoly, Regulation, And Innovation,
2010
Western Kentucky University
Monopoly, Regulation, And Innovation, Matt Bogard
Economics Faculty Publications
Recently the Justice department has started investigations into alleged anti-trust violations by Monsanto. This has helped fuel a lot of already hyped discontent with one of the world’s leaders in innovative solutions for sustainable agriculture. This article discusses how the regulatory environment could possibly have contributed to more concentration and power in the biotech industry. Increasing regulation would likely have the opposite effect of creating a level playing field in the agriculture industry. From AgWeb, March 27,2010 http://www.agweb.com/blog/Economic_Sense_190/Monopoly_Regulation__and_Innovation_10771/
The Gettysburg Economic Review, Volume 4, Spring 2010,
2010
Gettysburg College
The Gettysburg Economic Review, Volume 4, Spring 2010
Gettysburg Economic Review
No abstract provided.
An Examination Of Non-Linear Relationships Between Intellectual Property Rights Protection And Growth,
2010
Gettysburg College
An Examination Of Non-Linear Relationships Between Intellectual Property Rights Protection And Growth, Brian R. Lemak
Gettysburg Economic Review
This paper examines the possibility of a non-linear relationship existing between intellectual property rights protection (IPR) and gross domestic product (GDP) growth rates. A theoretical justification is developed for the potential existence of a non-linear relationship in terms of a quadratic relationship. This is then examined using panel data from 191 countries and taken in 5 year intervals, although the data had many missing observations. Results indicate there is statistically significant evidence that a quadratic relationship exists between IPR and GDP growth, however there are reservations about this evidence due to a dearth of observations in countries with very weak …
