Other Economics Commons^™

Minimum Resale Price Maintenance In The Absence Of Point-Of-Sale Service, Agency Or Free-Rider Problems, Michael R. Baye, Dan Kovenock, Casper De Vries

ESI Working Papers

We show that MRPM can increase manufacturer profits and total output even in the ab- sence of traditional justifications based on point-of-sale services, retailer effort, or free-riding. The key insight is that MRPM mitigates channel conflict by altering how retailers balance extracting surplus from loyal customers and competing for price-sensitive shoppers. When a manufacturer optimally chooses a wholesale price and MRPM policy, this can intensify com- petition and create systematic distributional effects: prices fall for loyal consumers but rise for shoppers, and the profits of smaller, shopper-dependent retailers decline. We characterize the conditions under which MRPM raises output, benefits a …

Tokenization And Interconnectedness: A Numerical Exploration, Alessandro Gioffré, Gabriele Camera

ESI Working Papers

Tokenization of assets has multiple implications for the operation of financial markets, among which are mitigating trade frictions and improving the interconnectedness of financial firms. This feature—if not properly managed—can propagate shocks more widely as compared to a traditional system. We study this double-edged aspect of tokenization using a matching model that makes explicit how firms are exposed to counterparty risk. We propose a way to manage this increased risk, through Financial Transactions Limiters, which exploit the technical advantages of tokenization in monitoring financial transactions of individual firms. We numerically analyze the possible social welfare consequences of tokenization, in …

What Kind Of Economists Do We Want? From A One-Track To A Two-Track Mind, Magnus Henrekson, Lars Jonung, Mats Lundahl

Economic and Business Review

We explore the challenges facing the current academic training of economists in small European countries such as Sweden. The monolithic focus on publishing in the top-five journals, which prioritizes methodological rigor over problem-driven research, is often a threat to social relevance and policy applicability. This limits pluralism, excludes many talented economists, and fails to prepare graduates for nonacademic positions. We propose a two-track model for PhD training and academic evaluation, emphasizing both traditional research and applied economic policy, tailored to the diverse needs of academia, public administration, and business. We also argue for broader evaluation criteria, enhanced interdisciplinary collaboration, and …

Multidimensional Arbitration, Cary Deck, Paul Pecorino, Brian R. Powers

ESI Working Papers

Most analyses of arbitration consider disputes over a single dimensional issue; however, in many situations more than one issue can be in dispute. In a labor context, the parties may disagree on the hourly wage, number of paid holidays, and fringe benefits as well as other conditions of employment. In addition to conventional arbitration (CA), two variants of multidimensional final-offer arbitration (FOA) are employed in practice. Under one version of FOA, the arbitrator must pick the entire package submitted by one of the disputants. Under the other version of FOA, the arbitrator can select elements from each disputant’s final offer …

Forgoing Nuclear: Nuclear Power Plant Closures And Carbon Emissions In The United States, Luke Petach

Faculty Scholarship

This paper examines the effect of nuclear power plant decommissioning on electricity generation and carbon emissions in the United States. Using data on nuclear reactor closures in the United States between 1993 and 2022 and data on state-level carbon emissions and electricity generation from the Energy Information Administration (EIA), this paper adopts a difference-in- differences (DiD) approach to estimate the effect of nuclear decommissioning. Two-way fixed-effects (TWFE) DiD estimates suggest a nuclear plant closure increases annual state-level per capita carbon emissions between 6% and 8%. The increase in state-level carbon emissions is driven by a substitution toward fossil fuel electricity—particularly …

The Concept Of Maqāṣid Al-Sharī‘Ah And Maṣlaḥah In The Classical And Contemporary Tafsîr, Yusuf Wibisono, Femmy Roeslan

International Journal of Islamic Economics and Business Sustainability

A contemporary mufassir (Qur’anic exegete) employs the principle of al-‘ibrah bi maqāṣid al-sharī‘ah—that interpretation must refer to the objectives of Islamic law—in an effort to uncover the true meaning of the Qur’anic text. A purely literal reading of the Qur’an, without an understanding of its maqāṣid (objectives), faces many limitations. The maqāṣid approach emphasizes not only the wording of the text but also its underlying purposes and goals. The greatest strength of maqāṣid-based tafsīr (interpretation) lies in its ability to render the Qur’an always relevant, adaptable, and universally applicable. As an interpretive approach not strictly tied to …

The Discouraging Effect Of Overconfidence, Cary Deck, Klajdi Bregu

ESI Publications

Overconfidence is often viewed as encouraging entrepreneurs and CEOs to follow risky strategies such as entering new markets, engaging in innovation, or pursuing mergers and acquisitions. While such undertakings can generate excess returns and profits, overconfidence is frequently offered as an explanation for why so many business ventures fail. However, we show that in a setting where the decision maker does not know whether success is possible, theoretically, overconfidence can also have a discouraging effect, causing one to give up too soon. This counterintuitive result is driven by effectively misattributing one's own failure to an elevated assessment of the chance …

Ectopic Adipose Tissue In Subsistence Populations With Minimal Coronary Disease, Large Left Atria, And Very Low Rates Of Atrial Fibrillation, Randall C. Thompson, Benjamin C. Trumble, Daniel K. Cummings, Angela D. Neunuebel, Paul L. Hooper, Samuel Wann, Adel H. Allam, Frances Neunuebel, Benjamin D. Gans, Samantha I. King, Edmond Seabright, Caleb E. Finch, Margaret Gatz, Kenneth Buetow, Michael I. Miyamoto, Guido P. Lombardi, M. Linda Sutherland, James D. Sutherland, Christopher J. Ward, Madeleine J. Lee, Ashna Mahadev, Daniel Eid Rodriguez, David E. Michalik, Chris J. Rowan, Tianyu Cao, Jonathan Stieglitz, Cameron M. Quick, Gregory S. Thomas, Jagat Narula, Damini Dey, Michael Gurven, Hillard Kaplan

ESI Publications

Background

Methods

Essays In Applied Microeconomics, William Cunningham

Economics Theses and Dissertations

This dissertation contributes to three interconnected areas of economic research: microeconomics, behavioral economics, and urban economics. Each chapter examines how individual decision-making processes may produce more pronounced economic patterns, while highlighting the role of psychological factors and spatial considerations in shaping outcomes. Chapter 1 studies the causes and dynamics of segregation in US neighborhoods. A conditional instrumental variables estimator allows for unbiased estimation of preferences for past neighborhood minority shares by addressing endogeneity concerns present in my theoretical model. I use estimated preference parameters to simulate neighborhood population dynamics for Texas. I regress measures of racial animus and xenophobia on …

Criminal Behavior Responses To Changing Penalties: Estimating The Impact Of Felony Theft Threshold Changes, Ezra R. Simmons

All Theses

This study estimates how criminal behavior changes in response to shifts in felony theft thresholds, contributing to broader evidence on the deterrent effects of criminal penalties. Using detailed incident-level crime reports, this study applies econometric techniques to evaluate how offenders responded to reduced penalties. Analyzed within is California’s Proposition 47, which raised the felony threshold for theft-related offenses from $450 to $950. The results show a significant increase in low-level shoplifting (approximately 21%) and more substantial rises (approximately 24% to 30%) in crimes within the threshold overlap ($450 to $950). Additionally, the value stolen in crimes below the $450 threshold …

My Performance Over Yours: Earned Entitlement, Performance, Luck, And Deservingness In Giving, Andrej Angelovski, Praveen Kujal, Jose M. Ortiz

ESI Working Papers

We study how three widely discussed cues—source of income (merit vs luck), own performance, and information about others’ work status and performance—shape redistribution. Prior to the dictator game, all 306 dictators and most of the 306 recipients complete the same real-effort matrix task in an online experiment that would yield either $4 or $1 for the dictators. In the Performance treatment the dictator’s payoff is based on their performance; in Luck, it is assigned by a 50-50 draw. We find that: (i) Earned entitlement is prevalent for high-performing dictators: they keep more for themselves; (ii) Earned entitlement is conditional …

The Impact Of Green Finance, Trade Openness, And Fossil Fuel Subsidies On Renewable Energy Consumption: A Global And Asia-Pacific Perspective, Alya Ryanti Fitjriyah, Inayati Nuraini Dwiputri

Journal of Environmental Science and Sustainable Development

Fossil fuels are the major source of global emissions, with the Asia-Pacific region being the climate biggest polluter. Despite the global efforts to shift to cleaner energy, fossil fuels still dominate the energy mix. Therefore, renewable energy adoption needs to be encouraged more to improve economic sustainability. The Glasgow Climate Pact emphasises the importance of helping developing countries in addressing the climate change issue through financial support, capacity building, and technology transfer. Hence, this study examines the influence of green finance, open trade, and fossil fuel subsidies on renewable energy adoption in 38 countries from 2017 to 2023. By using …

Indirect Genetic Effects Among Neighbors Promote Cooperation And Accelerate Adaptation In A Small-Scale Human Society, Jordan S. Martin, Bret Beheim, Michael Gurven, Hillard Kaplan, Jonathan Stieglitz, Benjamin C. Trumble, Paul Hooper, Daniel K. Cummings, Daniel Eid Rodriguez, Adrian V. Jaeggi

ESI Publications

Explaining the rapid evolution of human cooperation and its role in our species’ biodemographic success remains a major evolutionary puzzle. To address this challenge, we tested a social drive hypothesis, which predicts that social plasticity and social selection in human groups cause indirect genetic effects that accelerate the adaptation of fitness, promoting population growth via feedback between the environmental causes and evolutionary consequences of cooperation. Using Bayesian multilevel models to analyze fertility data from a small-scale society, we demonstrate that density- and frequency-dependent indirect genetic effects on fitness promote the evolution of cooperation among neighboring women, increasing the rate of …

Physical Activity Mediates Age Differences In Cognition Among Tsimane Forager-Horticulturalists, Phoebe E. Imms, Nikhil N. Chaudhari, Daniel Cummings, Daniel Eid Rodriguez, Giuseppe Barisano, Paul L. Hooper, M. Katherine Sayre, Edmond Seabright, Randall C. Thompson, M. Linda Sutherland, James D. Sutherland, Benjamin C. Trumble, Michael Gurven, Jonathan Stieglitz, Caleb E. Finch, Hillard S. Kaplan, Wendy J. Mack, Margaret Gatz, Andrei Irimia

ESI Publications

Background: The Tsimane and Moseten of the Bolivian Amazon are highly physically active and exhibit low rates of cognitive impairment and brain atrophy.

Methods: We use structural equation modelling to examine how their physical activity levels mediate the relationship between (1) age and cognition, and (2) age and cognition via brain volume (BV).

Results: Tsimane males (n = 305, mean ± SD age = 59.94 ± 9.68) and Tsimane females (n = 265, mean ± SD age = 59.28 ± 9.79) exhibit significantly higher levels of physical activity than Moseten males (n = 106, mean ± SD …

Higher Blood Lipid Levels After The Transition To Menopause In Two Forager-Horticulturalist Populations, M. J. Getz, J. E. Aronoff, C. L. Jenkins, S. Ghafoor, J. Vazquez, N. T. Appel, M. Gatz, Daniel K. Cummings, Paul L. Hooper, B. Beheim, K. H. Buetow, C. E. Finch, G. S. Thomas, J. Stieglitz, M. Gurven, Hillard Kaplan, B. C. Trumble

ESI Publications

Background: Reproduction affects health and longevity among females across the life course. While significant focus has been devoted to the role of menarche, menopause remains understudied. Most menopause research is conducted in industrialized populations, where the risk of cardiovascular diseases increases progressively during the menopausal transition.

Methodology: Weworked with the Tsimane, Indigenous Bolivian forager-farmers with physically active lifestyles, and the Moseten, genetically and culturally related horticulturalists experiencing greater market integration. We assessed relationships between menopause status and lipid biomarkers (HDL, LDL, non-HDL, total cholesterol, triglycerides, and apolipoprotein-B). Using linear mixed-effects models, in an all-age sample of n = …

Money And Social Exclusion In Networks, Maria Bigoni, Gabriele Camera, Edoardo Gallo

ESI Working Papers

Globalization offers unparalleled opportunities to expand welfare through cooperation across large networks of unrelated individuals. Social exclusion – permanent or temporary – and monetary exchange are institutions that in theory can incentivize cooperation. In an experiment, we evaluate their relative performance and interaction in anonymous networks of different sizes. Permanent social exclusion (ostracism) reduces long-run economic potential by leading to sparse networks. Monetary exchange and temporary social exclusion perform similarly well in small networks. In large networks, however, monetary exchange is the only institution that promotes full cooperation by crowding out ostracism and keeping the network complete. An insight is …

Childhood Skeletal Lesions Common In Prehistory Are Present In Living Forager-Farmers And Predict Adult Markers Of Immune Function, Amy S. Anderson, Aaron Blackwell, M. Linda Sutherland, Thomas Kraft, James Sutherland, Bret Beheim, Daniel K. Cummings, Suhail Ghafoor, Paul L. Hooper, Daniel Eid Rodriguez, Andrei Irimia, Margaret Gatz, Wendy Mack, Chris Rowan, Michael Miyamoto, Kenneth Buetow, Caleb Finch, L. Samuel Wann, Adel Allam, Randall C. Thompson, Gregory Thomas, Hillard Kaplan, Jonathan Stieglitz, Benjamin Trumble, Michael D. Gurven

ESI Publications

Porous cranial lesions (cribra cranii and cribra orbitalia) are widely used by archaeologists as skeletal markers of poor child health. However, their use has not been validated with systematic data from contemporary populations, where there has been little evidence of these lesions or their health relevance. Using 375 in vivo computed tomography scans from a cohort-representative sample of adults aged 40+ years from the Bolivian Amazon, among food-limited, high-mortality forager-farmers, we identified cribra cranii on 46 (12.3%) and cribra orbitalia on 23 (6%). Cribra orbitalia was associated with several hallmarks of compromised immune function, including fewer B cells, fewer naïve …

Arterial Stiffness In Heart-Healthy Indigenous Tsimane Forager-Horticulturalists, Tianyu Cao, Edhitt Cortez Linares, Raul Quispe Gutierrez, Daniel Eid Rodriguez, Jesus Bani Cuata, Michael I. Miyamoto, Christopher Von Rueden, Daniel K. Cummings, Paul L. Hooper, Benjamin C. Trumble, Jonathan Stieglitz, Randall C. Thompson, Gregory S. Thomas, Hillard S. Kaplan, Daniel A. Duprez, David R. Jacobs Jr., Michael Gurven

ESI Publications

Background

Methods

Energy Expenditure And Obesity Across The Economic Spectrum, Amanda Mcgrosky, Amy Luke, Leonore Arab, Kweku Bedu-Addo, Alberto G. Bonomi, Pascal Bovet, Soren Brage, Maciej S. Buchowski, Nancy Butte, Stefan G. Camps, Regina Casper, Daniel K. Cummings, Sai Krupa Das, Sanjoy Deb, Lara R. Dugas, Ulf Ekelund, Terrence Forrester, Barry W. Fudge, Melanie Gillingham, Annelies H. Goris, Michael Gurven, Catherine Hambly, Annemiek Joosen, Peter T. Katzmarzyk, Kitty P. Kempen, William E. Kraus, Wantanee Kriengsinyos, Rebecca Kuriyan, Robert F. Kushner, Estelle V. Lambert, Christel L. Larsson, William R. Leonard, Nader Lessan, Marie Löf, Corby K. Martin, Anine C. Medin, Marian L. Neuhouser, Kirsi H. Pietilainen, Guy Plasqui, Ross L. Prentice, Susan B. Racette, David A. Raichlen, Eric Ravussin, Leanne Redman, Rebecca M. Reynolds, Eric B. Rimm, Susan Roberts, Asher Y. Rosinger, Mary H. Samuels, Srishti Sinha, J. Josh Snodgrass, Eric Stice, Ricardo Uauy, Samuel S. Urlacher, Jeanine A. Verbunt, Bruce Wolfe, Brian Wood, Xueying Zhang, Alexia J. Murphy-Alford, Cornelia J. Loechl, Jennifer Rood, Hiroyuki Sagayama, Dale A. Schoeller, Klaas R. Westerterp, William W. Wong, Yosuke Yamada, John R. Speakman, Herman Pontzer, The Iaea Dlw Database Consortium

ESI Publications

Global economic development has been associated with an increased prevalence of obesity and related health problems. Increased caloric intake and reduced energy expenditure are both cited as development-related contributors to the obesity crisis, but their relative importance remains unresolved. Here, we examine energy expenditure and two measures of obesity (body fat percentage and body mass index, BMI) for 4,213 adults from 34 populations across six continents and a wide range of lifestyles and economies, including hunter-gatherer, pastoralist, farming, and industrialized populations. Economic development was positively associated with greater body mass, BMI, and body fat, but also with greater total, basal, …

The Impact Of Insufficient Sleep On Dietary Choices And Physical Activity Behaviors: Evidence From A Randomized Cross-Over Trial, David L. Dickinson, Naomi Kakoschke, Sean P. A. Drummond

ESI Publications

The current study aimed to identify how manipulated sleep restriction affects dietary choices and physical activity (PA). Young adults were administered one week of well-rested sleep levels (WR: 8–9 h/night) and sleep-restriction (SR: 5–6 h/night) in their (naturalistic) at-home setting, using a randomized cross-over design. Participants made consequential bids for snacks/beverages following SR and WR in an auction task. Other primary outcome measures included daily self-reported dietary intake and actigraphy-measured PA. Multivariate regression analyses examined main and moderator impacts of SR on primary outcome measures. In total, 118 treatment participants completed the study (M = 20 years old, n = …