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2015

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Articles 1 - 30 of 110

Full-Text Articles in Other Economics

Money And The Scale Of Cooperation, Maria Bigoni, Gabriele Camera, Marco Casari Dec 2015

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 ...


A Note On First-Price Sealed-Bid Cattle Auctions In The Presence Of Captive Supplies, John M. Crespi, Tian Xia Dec 2015

A Note On First-Price Sealed-Bid Cattle Auctions In The Presence Of Captive Supplies, John M. Crespi, Tian Xia

Economics Publications

The authors present an analytical model of a ϐirst-price sealed-bid cattle auction in which a spot and coordinated markets are interconnected. The model reveals that the conventional wisdom that market coordination negatively affects the bid price in the spot market is an oversimpliϐication. The relationships between key market variables impact bids and bid shading in complex ways. While captive supplies can lead to lower spot prices, the price reductions do not necessarily stem from an increase in market power due to contracting. The model emphasizes the importance of several variables for future empirical studies.


Gop Denying Women Basic Economic Rights, Alev Dudek Nov 2015

Gop Denying Women Basic Economic Rights, Alev Dudek

Alev Dudek

As the self-identified party of small government and “maximum economic freedom and the prosperity freedom makes possible,” Republicans have been working hard to restrict women’s rights and coerce them to conform to traditional roles, such as abstaining from sex until marriage, getting married, having babies, and ideally, relying on their husbands to support them. Their opposition to paycheck fairness bills is consistent with these efforts. Although, the pay gap is in contradiction with encouraging productivity, economic activity, and the American Dream that the GOP is allegedly trying to promote or restore. 


Hog Inventory Breaks A Record, Lee L. Schulz Nov 2015

Hog Inventory Breaks A Record, Lee L. Schulz

Economics Publications

From 2011 through 2014, the lean hog price needed to cover production costs averaged $83 per cwt, as calculated by Iowa State University’s Estimated Livestock Returns. Lower feed costs trimmed the 2015 breakeven price for farrow-to-finish operations to about $66 per cwt. It goes without saying that the market wants to buy more hogs at $66 per cwt than it did at $83. Lower costs let producers increase the herd to get quantity supplied closer to demand.


"It's Not Just The Money" Figure 20, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figure 20, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figure 19, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figure 19, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figures 1-3, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figures 1-3, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figure 4, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figure 4, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figures 6-10, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figures 6-10, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figure 11, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figure 11, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figures 12-17, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figures 12-17, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figure 18, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figure 18, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


"It's Not Just The Money" Figures 22-24, Philip A. Trostel Oct 2015

"It's Not Just The Money" Figures 22-24, Philip A. Trostel

'It's Not Just the Money' Data Sets

No abstract provided.


Network Analysis Of The Sardex Community Currency, Georgios Iosifidis, Yanick Charette, Giuseppe Littera, Leandros Tassiulas, Nicholas Christakis Sep 2015

Network Analysis Of The Sardex Community Currency, Georgios Iosifidis, Yanick Charette, Giuseppe Littera, Leandros Tassiulas, Nicholas Christakis

Yale Day of Data

We present a transaction dataset and preliminary analysis results about Sardex, a complementary currency (CC) in Sardinia, Italy. Sardex is currently considered one of the most successful CCs in Europe, as it grows continuously in terms of transactions’ volume and membership, and has been already replicated in 8 other regions in Italy. We model Sardex as a transaction network and study its basic properties.


Efectos Regionales De La Enfermedad Holandesa Caso De Estudio: Colombia Entre 2000-2013, Luis E. Reina Bermudez, Neider Devia, Didier A. Alejo Barrera Sep 2015

Efectos Regionales De La Enfermedad Holandesa Caso De Estudio: Colombia Entre 2000-2013, Luis E. Reina Bermudez, Neider Devia, Didier A. Alejo Barrera

LUIS E REINA BERMUDEZ

El presente poster presenta un analisis de la estructura regional en Colombia cruzada con la estructura productiva de las regiones y del pais. El mismo muestra esquematizada referencia a las teorias que relacionan negativamente recursos naturales y crecimiento como también realizó analisis para el caso colombiano del auge en recursos naturales en la Region Orionoquia.


Tug-Of-War In The Laboratory, Cary Deck, Roman M. Sheremeta Sep 2015

Tug-Of-War In The Laboratory, Cary Deck, Roman M. Sheremeta

ESI Working Papers

Tug-of-war is a multi-battle contest often used to describe extended interactions in economics, management, political science, and other disciplines. While there has been some theoretical work, there is scant empirical evidence regarding behavior in a tug-of-war game. 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. In the first battle of the tug-of-war, subjects exert fewer resources, while in the follow-up battles, they exert more resources than predicted. Also, contrary to the theoretical prediction, resource expenditures tend to increase in the duration of the ...


Building A Better Model: Variable Selection To Predict Poverty In Pakistan And Sri Lanka, Marium Afzal, Jonathan Hersh, David Newhouse Sep 2015

Building A Better Model: Variable Selection To Predict Poverty In Pakistan And Sri Lanka, Marium Afzal, Jonathan Hersh, David Newhouse

Economics Faculty Articles and Research

Numerous studies have developed models to predict poverty, but surprisingly few have rigorously examined different approaches to developing prediction models. This paper applies out of sample validation techniques to household data from Pakistan and Sri Lanka, to compare the accuracy of regional poverty predictions from models derived using manual selection, stepwise regression, and Lasso-based procedures. It also examines how much incorporating publically available satellite data into the model improves its accuracy. The five main findings are that: 1) Lasso tends to outperform both discretionary and stepwise models in Pakistan, where the set of potential predictors is large. 2) Lasso and ...


Watch Cattle Weight Variability, Lee L. Schulz Sep 2015

Watch Cattle Weight Variability, Lee L. Schulz

Economics Publications

Analysts routinely use USDA estimates of feedlot placements by weight groups to project timing of fed cattle marketings. Expected slaughter numbers can help improve fed cattle price forecasts and marketing strategies. However, recent variability in placement weights amplifi es the uncertainty about the current and coming fed cattle market


Políticas De Precios Y Comercialización Agrícola Durante La Transición: Experiencias Y Lecciones Para Cuba, Mario A. Gonzalez-Corzo Aug 2015

Políticas De Precios Y Comercialización Agrícola Durante La Transición: Experiencias Y Lecciones Para Cuba, Mario A. Gonzalez-Corzo

Publications and Research

Las políticas de precios y comercialización de productos agrícolas desempeñaron un importante papel durante las transiciones en los antiguos países socialistas. Estas transiciones agrícolas primordialmente se caracterizaron por el desmantelamiento, en algunos casos como China y Vietnam de forma gradual y calibrada y en otros de forma acelerada como en algunos países de Europa del Este y la Unión Soviética, del colectivismo, los subsidios estatales y los controles de precios y por mayores grados de participación de actores no-estatales en la comercialización de productos agrícolas. A pesar de notables diferencias estructurales y coyunturales, las experiencias de los antiguos países socialistas ...


Lecciones De Economía Para No Economistas, Sergio A. Berumen Aug 2015

Lecciones De Economía Para No Economistas, Sergio A. Berumen

Sergio A. Berumen

Este libro estudia la totalidad de los contenidos de los cursos de Introducción a la Economía y de los primeros cursos de Microeconomía y Macroeconomía de los grados y las licenciaturas en Ciencias Sociales.


On The Economics Of Climate Change And Its Effects, Aaron B. Gertz Aug 2015

On The Economics Of Climate Change And Its Effects, Aaron B. Gertz

Electronic Thesis and Dissertation Repository

This thesis consists of three separate papers; two examining the costs of climate change policy in developing economies and one studying the economic impacts of flooding. In Chapter 2, I use a 2-sector non-balanced growth model to study the impact of structural change (the transition from industry to services) on carbon intensity. I calibrate the model to China and find that structural change plays an important role in reducing carbon intensity and lowering the economic cost of a carbon tax on GDP. For a 65% reduction target over 30 years, a $28/t carbon tax is needed and the output ...


The Effects Of Trade Competition On Health, And Determinants Of Workplace Behavior, Thomas Clayton Mcmanus Aug 2015

The Effects Of Trade Competition On Health, And Determinants Of Workplace Behavior, Thomas Clayton Mcmanus

Doctoral Dissertations

My dissertation consists of three essays related to workplace behavior. In the first paper, we design a controlled laboratory experiment to study image motives in a setting where decisions signal intelligence. The experiment results show that in some settings social scrutiny can discourage individuals from making choices that signal their intelligence, despite evidence that the signal was privately valuable. In the second paper, we study the effect of Chinese import competition on occupational safety and health at US manufacturers. We find that a change in US trade policy and Chinese import shocks significantly increases worker injury and illness rates in ...


The Carbon Rush: The Truth Behind The Carbon Market Smokescreen Edited By Amy Miller, Michael Classens Jul 2015

The Carbon Rush: The Truth Behind The Carbon Market Smokescreen Edited By Amy Miller, Michael Classens

The Goose

Michael Classens reviews The Carbon Rush: The Truth Behind the Carbon Market Smokescreen, edited by Amy Miller.


Private Value Determinations And The Potential Effect On The Future Of Research And Development, Amy L. Landers Jul 2015

Private Value Determinations And The Potential Effect On The Future Of Research And Development, Amy L. Landers

Amy L. Landers

Although the promise of an emerging patent market is thought to provide future benefits to invention, innovation, and the public, this essay examines the possibility that the aggregate influence of this activity could instead destabilize patent values in a manner that mirrors the "bubble" phenomenon that occurred in certain markets in the past. To the extent that this occurs, this would destabilize the patent system and might have negative consequences for the future of investment in research, development and innovation.


Underdogs Are Man’S Best Friend: A Test Of Football Market Efficiency, Ladd Kochman, Randy Goodwin Jul 2015

Underdogs Are Man’S Best Friend: A Test Of Football Market Efficiency, Ladd Kochman, Randy Goodwin

Ladd Kochman

Two mechanical betting rules that had exposed biases in previous studies were applied to National Football League games for the five consecutive seasons ending with the 2003 Super Bowl. Although bets on home teams produced only break-even results, wagers on underdogs posed a serious challenge to the efficient market hypothesis. One possible explanation is that favorites are no less “public” in the minds of bettors than IBM, GE, and the like are public in the minds of investors and may therefore be the victims of inflated expectations and point spreads.


Pricing Inefficiencies In The Football-Betting Market, Ladd Kochman, Ravija Badarinathi Jul 2015

Pricing Inefficiencies In The Football-Betting Market, Ladd Kochman, Ravija Badarinathi

Ladd Kochman

Since Pankoff (Journal of Business, 1968), investment writers have recognized that bets on the outcome of football games provide an unusually direct test of pricing efficiency by market consensus. In a football context, prices are proxied by pointspreads (values ranging from 1 to 50+, which represent the bettors' expectations regarding the stronger team's victory margin). Efficiency refers to the impossibility of using betting rules based on past performance or information not discounted by the spread to win consistently.


Perspective Makes A Difference, Lee L. Schulz Jul 2015

Perspective Makes A Difference, Lee L. Schulz

Economics Publications

USDA’S June Hogs and Pigs Report told us where the industry is and where it may be headed. The report showed a big surge in inventories compared to the PEDV-depressed levels a year ago. But inventories aren’t that far out of line with June 2013 levels prior to PEDV.


Information Propagation In Financial Markets, Garrett A. Mcbrayer Jul 2015

Information Propagation In Financial Markets, Garrett A. Mcbrayer

Theses and Dissertations

This dissertation consists of three essays which examine information flows through financial markets and across firms, and investigates the factors affecting the process of information dissemination. The first essay examines whether the announcement of a credit rating change for a given firm contains information pertinent to the valuations of intra-industry peer firms. I identify an information spillover effect on peer firms surrounding credit rating downgrades. Further, I find that the post-announcement spillover effects are indicative of an overreaction in the market’s response to the downgrade announcement. Peer firms exhibit predictability in their post-announcement returns as a function of their ...


Capital Stock Series Of The Mexican Regions, Vicente German-Soto Jun 2015

Capital Stock Series Of The Mexican Regions, Vicente German-Soto

Vicente German-Soto

Database of the physical capital stock series of the Mexican states industrial sector.


Public Goods With Punishment & Payment For Relative Rank, Terence C. Burnham Jun 2015

Public Goods With Punishment & Payment For Relative Rank, Terence C. Burnham

ESI Working Papers

A laboratory experiment designed to investigate the role of relative performance-based payoffs on cooperation in the context of punishment. Subjects play a repeated public goods game with high-powered punishment (50:1) and additional payoffs based on relative performance. Contributions to the public good are nearly maximal. Punishment levels are substantial, higher than the same game without relative rank payoffs, and sufficiently high that total payoffs are negative. The group would make much more money in the same setting without punishment. This study contributes to investigation of the role of altruism in human cooperation.