Route Choice Behavior In Risky Networks With Real-Time Information, 2010 University of Massachusetts Amherst
Route Choice Behavior In Risky Networks With Real-Time Information, Michael D. Razo
Masters Theses 1911 - February 2014
This research investigates route choice behavior in networks with risky travel times and real-time information. A stated preference survey is conducted in which subjects use a PC-based interactive maps to choose routes link-by-link in various scenarios. The scenarios include two types of maps: the first presenting a choice between one stochastic route and one deterministic route, and the second with real-time information and an available detour. The first type measures the basic risk attitude of the subject. The second type allows for strategic planning, and measures the effect of this opportunity on subjects' choice behavior.
Results from each subject are ...
Illusions Of Market Paradise: State, Business, And Economic Reform In Post-Socialist Russia And Post-1980s Crisis Argentina, Jeffrey K. Hass, Gastón J. Beltrán
Sociology and Anthropology Faculty Publications
The 1980s and early 1990s were characterized by sweeping, radical neoliberal, monetarist-inspired economic reforms designed to correct financial or structural crises. Latin American countries initiated the wave, followed by Eastern Europe and the former USSR, although the timing, scope, and policies varied. Often one reads accounts of friends and foes of reform lined up to do battle in domestic and international alliances. However, reform processes and outcomes do not always follow the formula of reformers versus conservatives; there is more to the balance of power than these all-too-common accounts would suggest. Industrial managers in the Soviet Union and post-Soviet Russia ...
A User's Guide To Solving Dynamic Stochastic Games Using The Homotopy Method, 2010 University of Pennsylvania
A User's Guide To Solving Dynamic Stochastic Games Using The Homotopy Method, Ron N. Borkovsky, Ulrich Doraszelski, Yaroslav Kryukov
This paper provides a step-by-step guide to solving dynamic stochastic games using the homotopy method. The homotopy method facilitates exploring the equilibrium correspondence in a systematic fashion; it is especially useful in games that have multiple equilibria. We discuss the theory of the homotopy method and its implementation and present two detailed examples of dynamic stochastic games that are solved using this method.
A Theory Of Regular Markov Perfect Equilibria In Dynamic Stochastic Games: Genericity, Stability, And Purification, 2010 University of Pennsylvania
A Theory Of Regular Markov Perfect Equilibria In Dynamic Stochastic Games: Genericity, Stability, And Purification, Ulrich Doraszelski, Juan F. Escobar
This paper studies generic properties of Markov perfect equilibria in dynamic stochastic games. We show that almost all dynamic stochastic games have a finite number of locally isolated Markov perfect equilibria. These equilibria are essential and strongly stable. Moreover, they all admit purification. To establish these results, we introduce a notion of regularity for dynamic stochastic games and exploit a simple connection between normal form and dynamic stochastic games.
The Ethic Of High Expectations, 2010 University of Pennsylvania Law School
The Ethic Of High Expectations, Jean Galbraith
Faculty Scholarship at Penn Law
No abstract provided.
The Informal Recycler In Shanghai: Mobility, Migration And Citizenship, 2010 University of Colorado Boulder
The Informal Recycler In Shanghai: Mobility, Migration And Citizenship, Adam Stokes Williams
Geography Graduate Theses & Dissertations
As social and economic realities shift in China's post-reform era, increasing instability for the country's hundreds of millions of migrant workers. The recent, dramatic growth of informal markets for recyclable waste represents a valuable opportunity for geographers to reinterpret how migrant labor is transforming urban identities. This thesis argues for a grounded study of informal recycling in Shanghai, now the world's largest receiving port for recyclables as well as hundreds of thousands of domestic migrants. Perhaps more than any other class in the Chinese labor forces, migrant workers participating in informal urban markets face myriad social and ...
China And Brazil: Potential Allies Or Just Brics In The Wall?, 2010 Montclair State University
China And Brazil: Potential Allies Or Just Brics In The Wall?, Anthony Petros Spanakos
Department of Political Science and Law Faculty Scholarship and Creative Works
Brazil is an increasingly important actor in global governance and for China specifically. Sino-Brazilian relations have deepened considerably but they remain concentrated in areas of trade and investment. There is also considerable overlap in interests between the two countries in other areas, such as diplomatic and political relations. At the same time, China must manage carefully important differences that exist over the enlargement of the UN and the potential challenge to the Brazilian industry.
The Paradox Of Interest Rates Of The Greenback Era: A Reexamination, 2010 Iowa State University
The Paradox Of Interest Rates Of The Greenback Era: A Reexamination, Oleksandr Zhylyevskyy
The two leading explanations for the counterintuitive behavior of interest rates during the Greenback Era (1862–1878) – the resumption expectations model of Calomiris (1988) and the capital flow argument of Friedman and Schwartz (1963) – are inconsistent with each other in terms of their treatment of financial arbitrage. A methodology to identify unexploited arbitrage opportunities in financial data is proposed. Observable returns strongly suggest that the money market of the Greenback Era did not systematically admit arbitrage, except possibly around the times of the Gold Corner of 1869 and the Panic of 1873, which implies that Calomiris provides a more plausible ...
A Fast Fourier Transform Technique For Pricing American Options Under Stochastic Volatility, 2010 Iowa State University
A Fast Fourier Transform Technique For Pricing American Options Under Stochastic Volatility, Oleksandr Zhylyevskyy
This paper develops a non-finite-difference-based method of American option pricing under stochastic volatility by extending the Geske-Johnson compound option scheme. The characteristic function of the underlying state vector is inverted to obtain the vector’s density using a kernel-smoothed fast Fourier transform technique. The method produces option values that are closely in line with the values obtained by finite-difference schemes. It also performs well in an empirical application with traded S&P 100 index options. The method is especially well suited to price a set of options with different strikes on the same underlying asset, which is a task often ...
Readdressing The Fertilizer Problem, 2010 University of Illinois
Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock
The production literature has shown that inputs such as fertilizer can be defined as riskincreasing. However, farmers also consistently overapply nitrogen. A model of optimal input use under uncertainty is used to address this paradox. Using experimental data, a stochastic production relationship between yield and soil nitrate is estimated. Numerical results show that input uncertainty may cause farmers to overapply nitrogen. Survey data suggest that farmers are risk averse, but prefer small chances of high yields compared to small chances of crop failures when expected yields are equivalent. Furthermore, yield risk and yield variability are not equivalent.
Risk Management By Farmers, Agribusinesses, And Lenders, 2010 United States Department of Agriculture
Risk Management By Farmers, Agribusinesses, And Lenders, Ashok K. Misra, Sergio H. Lence
Producers and lenders seek to avoid agricultural production‐related risks through various managerial and institutional mechanisms. For individual farmers and agribusinesses, risk management involves choosing among alternatives for reducing the effects of risk on the firm, thereby affecting the firm’s welfare position. Risk management often requires the evaluation of tradeoffs between changes in risk, expected returns, entrepreneurial freedom, and other factors. Research on risk management issues in agriculture has been among the main topics of interest of the Regional Research Committee for Financing Agriculture in a Changing Environment: Macro, Market, Policy, and Management Issues, and its predecessors. This paper ...
A Methodology To Support Product-Differentiation Decisions, 2010 London Business School
A Methodology To Support Product-Differentiation Decisions, Kamalini Ramdas, Oleksandr Zhylyevskyy, William L. Moore
Choosing the right set of new products to offer is a key driver of profitability. New products often share some design attributes with existing products, thus, firms need to decide which attributes to keep common and which to differentiate. We propose and empirically implement a new methodology that can help managers to navigate the complex decision of where to focus differentiation, using “looks-like” prototypes that typically become available in the later stages of the product-development process. Our methodology complements early stage product-positioning methods, such as conjoint analysis and perceptual mapping. It also offers a way to estimate the impact of ...
Some Professionals Play Minimax: A Reexamination Of The Minimax Theory In Major League Baseball, 2010 Claremont McKenna College
Some Professionals Play Minimax: A Reexamination Of The Minimax Theory In Major League Baseball, Jeffrey Park
CMC Senior Theses
This paper explores the behavior of Major League Baseball pitchers. We analyze the pitching data from 2007-2010 in order to determine whether their actions follow minimax play. We also examine what the OPS statistic tells us about a pitcher's value.
Do Ugly Criminals Receive Harsher Sentences? An Analysis Of Lookism In The Criminal Justice System, Kelly Beck
Business and Economics Honors Papers
For many years, researchers have attempted to find a link between beauty and labor market outcomes. Although many important findings have been noted in these studies, the beauty analysis utilized was a subjective measurement. This subjective method, while important, may have external factors creating bias in the rating itself. In this study, the impact of beauty is applied to criminals and their sentences. Using a computer based symmetry measurement tool, an objective beauty measurement will be utilized. This study will seek to uncover whether or not criminals who are less attractive, measured through facial symmetry, receive harsher prison sentences than ...
Allowing Patients To Waive The Right To Sue For Medical Malpractice: A Response To Thaler And Sunstein, 2010 University of Pennsylvania Law School
Allowing Patients To Waive The Right To Sue For Medical Malpractice: A Response To Thaler And Sunstein, Tom Baker, Timothy D. Lytton
Faculty Scholarship at Penn Law
This essay critically evaluates Richard Thaler and Cass Sunstein’s proposal to allow patients to prospectively waive their rights to bring a malpractice claim, presented in their recent, much acclaimed book, Nudge: Improving Decisions about Health, Wealth and Happiness. We show that the behavioral insights that undergird Nudge do not support the waiver proposal. In addition, we demonstrate that Thaler and Sunstein have not provided a persuasive cost-benefit justification for the proposal. Finally, we argue that their liberty-based defense of waivers rests on misleading analogies and polemical rhetoric that ignore the liberty and other interests served by patients’ tort law ...
Did I Do That? Group Positioning And Asymmetry In Attributional Bias, 2010 Northwestern University
Did I Do That? Group Positioning And Asymmetry In Attributional Bias, Brian Gunia, Brice Corgnet
Economics Faculty Articles and Research
A laboratory experiment examined whether one structural feature of groups—members’ physical positioning—may produce asymmetry in their perceived contribution to a task. In particular, we investigated asymmetry in group members’ (often excessive) claims of credit for collective tasks ("the self-serving attributional bias"). Consistent with the availability account of this bias, group members located in the middle of a group, with easy visual access to their partners’ contributions, demonstrated less bias than outside members (who demonstrated bias consistent with prior research)—but no less satisfaction. Further analyses suggested that these results reflected bias reduction among middle members and did stem ...
Multi-Player Bargaining With Endogenous Capacity, 2010 Chapman University
Multi-Player Bargaining With Endogenous Capacity, Gabriele Camera, Cemil Selcuk
Economics Faculty Articles and Research
We study equilibrium prices and trade volume in a market with several identical buyers and a seller who commits to an inventory and then offers goods sequentially. Prices are determined by a strategic costly bargaining process with a random sequence of proponents. A unique subgame perfect equilibrium exists, characterized by no costly delays and heterogeneous sale prices. In equilibrium constraining capacity is a bargaining tactic the seller uses to improve a weak bargaining position. With capacity constraints, sale prices approach the outcome of an auction as bargaining costs vanish. The framework provides a building block for price formation in models ...
Team Formation And Self‐Serving Biases, 2010 Chapman University
Team Formation And Self‐Serving Biases, Brice Corgnet
Economics Faculty Articles and Research
There is extensive evidence which indicates that people learn positively about themselves. We build on this finding to develop a model of team formation. We show that under complete information learning positively about oneself prevents efficient team formation. Agents becoming overconfident tend to ask for an excessive share of the group outcome. Positive learning generates divergence in workers' beliefs and hampers efficient team formation. Interestingly, in a context of incomplete information regarding the partner's ability, extensive learning biases may reduce the divergence in agents' beliefs and facilitate efficient team formation as a result. We apply our model to coauthorship ...
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.
Agricultural Trade Liberalization And Downstream Market Power: The Ad Valorem Case, 2010 Iowa State University
Agricultural Trade Liberalization And Downstream Market Power: The Ad Valorem Case, Mohammad Mainul Hoque, John R. Schroeter
Exports of agricultural commodities to developed countries play a significant role in the economies of many developing countries. The elimination of import tariffs has the potential to benefit producers in the developing countries, but estimates of the extent of the gains from trade liberalization typically assume perfect competition. Significant concentration in the food processing and retailing sectors of the U.S. and the EU undermine the plausibility of this assumption in the case of agricultural trade, however. Sexton, Sheldon, McCorriston, and Wang (2007) develop a model of the effects of trade liberalization that accounts for the vertically-linked and concentrated characteristics ...