Open Access. Powered by Scholars. Published by Universities.®

Economic Theory Commons

Open Access. Powered by Scholars. Published by Universities.®

2,335 Full-Text Articles 1,933 Authors 628,547 Downloads 147 Institutions

All Articles in Economic Theory

Faceted Search

2,335 full-text articles. Page 6 of 69.

Investigating The Effect Crime Has On Uber And Yellow Taxi Pickups In Nyc, Kebing Li 2019 Colby College

Investigating The Effect Crime Has On Uber And Yellow Taxi Pickups In Nyc, Kebing Li

Honors Theses

How to manage the relationship between Uber and the local taxi industry has been a long-lasting and hot topic for most of the major cities around the world. Whether Uber is stealing money from and undermining the local taxi drivers or it is beneficial for public transportation has no certain conclusions. In this paper, we focus on the city of New York, where both Uber and traditional Yellow Taxi play important roles in public transportation and city culture in general, and we are trying to investigate the factors that are going to affect Uber and Yellow Taxi pickups in New ...


The Gettysburg Economic Review, Volume 11, Spring 2019, 2019 Gettysburg College

The Gettysburg Economic Review, Volume 11, Spring 2019

Gettysburg Economic Review

No abstract provided.


The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali 2019 Gettysburg College

The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali

Gettysburg Economic Review

This theoretical paper studies the issue of fiscal transparency, which we define as asymmetry of information between the households’ perception of fiscal policy and the actual government balance sheet, in the context of a 24-hour news cycle. We model the economy using the New Keynesian three-equation model to study the effect of fiscal transparency on output, inflation, and especially government debt in order to draw conclusions that are relevant in the realm of policy-making in a sovereign debt crisis scenario. We find that a higher degree of fiscal transparency leads to greater levels of output and inflation as well as ...


Is Antitrust's Consumer Welfare Principle Imperiled?, Herbert J. Hovenkamp 2019 University of Pennsylvania Law School

Is Antitrust's Consumer Welfare Principle Imperiled?, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

Antitrust’s consumer welfare principle stands for the proposition that antitrust policy should encourage markets to produce output as high as is consistent with sustainable competition, and prices that are accordingly as low. Such a policy does not protect every interest group. For example, it opposes the interests of cartels or other competition-limiting associations who profit from lower output and higher prices. It also runs counter to the interest of less competitive firms that need higher prices in order to survive. Market structure is relevant to antitrust policy, but its importance is contingent rather than absolute – that is, market structure ...


The Role Of Conditionally Correlated Variables In Information Economics, Carlos Luis Segura-Rodriguez 2019 University of Pennsylvania

The Role Of Conditionally Correlated Variables In Information Economics, Carlos Luis Segura-Rodriguez

Publicly Accessible Penn Dissertations

In this thesis I study how complementarities/substitutabilities of information affect learning strategies and behavior in different economic environments. The thesis contains three chapters that focus on different economic situations.

Chapter 1 studies the efficiency of decentralized team formation inside research organizations through the lens of a one-sided matching model with non-cooperative after-match information production. In our model, inefficient sorting arises from two sources. First, moral hazard within teams may cause workers to join less productive teams in which they exert relatively less effort. Second, even if productive teams form, such teams may reduce average productivity across all teams. We ...


A Socio-Ecological Revolution In Monetary Theory, Joe Allen Ament 2019 University of Vermont

A Socio-Ecological Revolution In Monetary Theory, Joe Allen Ament

Graduate College Dissertations and Theses

Money is the most ubiquitous institution on the planet. It gave rise to literacy, mathematics, sedentary community, and the concept of universal value. Against this backdrop, however, hardly anyone understands what money is. Orthodox monetary theory conceives of money as a neutral commodity that facilitates barter. Presupposing this theory is a dualistic and atomistic ontology in which reality is organized into hierarchically ordered opposites of superiority and inferiority and complex interactions are reduced to summations of their attendant parts. Accordingly, monetary policy is enacted as though money were any other commodity, subject to the barter dynamics of supply and demand ...


A Full Characterization Of Best-Response Functions In The Lottery Colonel Blotto Game, Dan Kovenock, David Rojo Arjona 2019 Chapman University

A Full Characterization Of Best-Response Functions In The Lottery Colonel Blotto Game, Dan Kovenock, David Rojo Arjona

ESI Working Papers

We fully characterize best-response functions in Colonel Blotto games with lottery contest success functions.


Democratization Of Finance In China: The Role Of Internet Finance In China’S Economic Transformation, Shuying Han 2019 Bard College

Democratization Of Finance In China: The Role Of Internet Finance In China’S Economic Transformation, Shuying Han

Senior Projects Spring 2019

Democratization of finance in China is both effective and risky. This is a comprehensive study of the benefits and risks associated with China’s Inclusive Finance Policy and the rapid development of Chinese internet financial industry. Through a retrospective of the emergence of finance, this study will introduce the concept of democratization of finance and evaluate its development in China. The author further examines the approach of Inclusive Finance and Internet-based financial industry and their contributions to the overall financial industry. In addition, this study will also explore the role of Internet-based financial industry to Chinese economy in the context ...


The Gender Wage Gap In Sports: Explaining The Pay Gap In Sports, David Streeter Runcie 2019 Bard College

The Gender Wage Gap In Sports: Explaining The Pay Gap In Sports, David Streeter Runcie

Senior Projects Spring 2019

Senior Project submitted to The Division of Social Studies of Bard College.


Cryptocurrencies: A Currency At All, Or A Speculative Investment For The Future?, William T. Baffuto 2019 Bard College

Cryptocurrencies: A Currency At All, Or A Speculative Investment For The Future?, William T. Baffuto

Senior Projects Spring 2019

Since the introduction of the first Cryptocurrency, Bitcoin, in 2008 there have been many an innumerable amount created. This begs the question, although they are labeled Cryptocurrencies, are they really currencies under the modern definition of Money? This paper will analyze the functions of cryptocurrencies concluding with the idea that currently Cryptocurrencies behave more like a Speculative Asset then an alternative form of money. That is not to say that in the future technologies like blockchain could not be utilized by Central Banks, rather there are to many variables control for at the moment to consider it an alternative to ...


Money Is More Than Memory, Maria Bigoni, Gabriele Camera, Marco Casari 2018 University of Bologna

Money Is More Than Memory, Maria Bigoni, Gabriele Camera, Marco Casari

ESI Working Papers

Impersonal exchange is the hallmark of an advanced society and money is one key institution that supports it. Economic theory regards money as a crude arrangement for monitoring counterparts’ past conduct. If so, then a public record of past actions—or memory—should supersede the function performed by money. This intriguing theoretical postulate remains untested. In an experiment, we show that the suggested functional equivalence between money and memory does not translate into an empirical equivalence: money removed the incentives to free ride, while memory did not. Monetary systems performed a richer set of functions than just revealing past behaviors.


Modeling Interactions Between Risk, Time, And Social Preferences, Mark Schneider 2018 Chapman University

Modeling Interactions Between Risk, Time, And Social Preferences, Mark Schneider

ESI Working Papers

Recent studies have observed systematic interactions between risk, time, and social preferences that constitute violations of `dimensional independence' and are not explained by the leading models of decision making. This note provides a simple approach to modeling such interaction effects while predicting new ones. In particular, we present a model of rational-behavioral preferences that takes the convex combination of `behavioral' System 1 preferences and `rational' System 2 preferences. The model provides a unifying approach to analyzing risk, time, and social preferences, and predicts how these preferences are correlated with reliance on System 1 or System 2 thinking.


A Dual System Model Of Risk And Time Preferences, Mark Schneider 2018 Chapman University

A Dual System Model Of Risk And Time Preferences, Mark Schneider

ESI Working Papers

Discounted Expected Utility theory has been a workhorse in economic analysis for over half a century. However, it cannot explain empirical violations of 'dimensional independence' demonstrating that risk interacts with time preference and time interacts with risk preference, nor does it explain present bias or magnitude-dependence in risk and time preferences, or correlations between risk preference, time preference, and cognitive reflection. We demonstrate that these and other anomalies are explained by a dual system model of risk and time preferences that unless models of a rational economic agent, models based on prospect theory, and dual process models of decision making.


The Influence Of Opponent Strategy And Psychopathic Traits On Point Gains And Cooperation In The Iterated Prisoner’S Dilemma, Mary Baggio 2018 University of Nevada, Las Vegas

The Influence Of Opponent Strategy And Psychopathic Traits On Point Gains And Cooperation In The Iterated Prisoner’S Dilemma, Mary Baggio

UNLV Theses, Dissertations, Professional Papers, and Capstones

The Prisoner’s Dilemma game is a paradigm used to model and measure social cooperation. Uncooperative behavior may be one manifestation of the unstable interpersonal functioning in psychopathy. I investigated the effect of opponent strategy as well as psychopathic traits of fearless dominance (FD) and impulsive antisociality (IA) on cooperation rates and total and competitive point gains in a sample of 177 undergraduates playing long, finitely iterated Prisoner’s Dilemma games against computerized opponents who varied in their interpersonal styles from very harsh to very lenient. I analyzed rates of cooperation during each game, participants’ total points gained, and the ...


Working Paper No. 10, The Epic Rise And Subtle Fall Of American Herbalism, Julia Schweid 2018 Portland State University

Working Paper No. 10, The Epic Rise And Subtle Fall Of American Herbalism, Julia Schweid

Working Papers in Economics

This inquiry seeks to establish that we can track the development and evolution of herbalism as the initial form of medicine in American economic history. Upon colonization of North America, the indigenous people generously shared their knowledge of plant medicine with the settlers from Europe. The indigenous knowledge combined with the translation of ancient herbal texts created a synthesis of understanding and an important form of cultural exchange. People then began making attempts to standardize the medicine and its potency was compromised with the rise of the industry in patent medicine, or what I have named pseudo herbalism. It was ...


Working Paper No. 22, Coffee And The American Independence Movement, Ross Bradner 2018 Portland State University

Working Paper No. 22, Coffee And The American Independence Movement, Ross Bradner

Working Papers in Economics

Coffee has a long history as a motivating force in society, as can be seen through its history in different parts of the world. The introduction of coffee houses to western culture would promote the emergence of a public sphere, and would come to influence revolutionary behavior in both Western Europe and the North American colonies.


Working Paper No. 28, Roots Of The American Labor Movement, Lillian Garcia 2018 Portland State University

Working Paper No. 28, Roots Of The American Labor Movement, Lillian Garcia

Working Papers in Economics

This inquiry seeks to establish that early developments in America’s workforce helped to shape the national labor movement that emerged at the end of the 19th Century. The first section discusses the changing social, economic, and legal landscapes from the colonial era to the Industrial Revolution. The second section examines the history of concerted action amongst the free and bound working classes leading up to 1842, when the case Commonwealth v. Hunt established the previously contested per se legality of labor combinations. The final section discusses developments in labor organization during the decades following Hunt, in which, amidst ...


Working Paper No. 29, Lina Khan, New Technologies, And Institutional Reform, Lillian Garcia 2018 Portland State University

Working Paper No. 29, Lina Khan, New Technologies, And Institutional Reform, Lillian Garcia

Working Papers in Economics

This inquiry seeks to establish that Lina Khan’s work brings to light the importance of reforming institutions in order to address the challenges of internet technology. As the dominance of a small number of technology giants has increased to unforeseen proportions, legal mind Lina Khan has emerged as a leading voice in the call for an updated legal framework, as well as a revision of current economic understanding, to address the new forms of monopoly power these firms practice. The first part of this inquiry examines Chicago School dominance over economic thought and its effect on antitrust enforcement over ...


Using Response Times To Measure Ability On A Cognitive Task, Aleksandr Alekseev 2018 Chapman University

Using Response Times To Measure Ability On A Cognitive Task, Aleksandr Alekseev

ESI Working Papers

I show how using response times as a proxy for effort coupled with an explicit process-based model can address a long-standing issue of how to separate the effect of cognitive ability on performance from the effect of motivation. My method is based on a dynamic stochastic model of optimal effort choice in which ability and motivation are the structural parameters. I show how to estimate these parameters from the data on outcomes and response times in a cognitive task. In a laboratory experiment, I find that performance on a Digit-Symbol test is a noisy and biased measure of cognitive ability ...


Prophylactic Merger Policy, Herbert J. Hovenkamp 2018 University of Pennsylvania Law School

Prophylactic Merger Policy, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

An important purpose of the antitrust merger law is to arrest certain anticompetitive practices or outcomes in their “incipiency.” Many Clayton Act decisions involving both mergers and other practices had recognized the idea as early as the 1920s. In Brown Shoe the Supreme Court doubled down on the idea, attributing to Congress a concern about a “rising tide of economic concentration” that must be halted “at its outset and before it gathered momentum.” The Supreme Court did not explain why an incipiency test was needed to address this particular problem. Once structural thresholds for identifying problematic mergers are identified there ...


Digital Commons powered by bepress