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2016-2017

87 hits

  • Thumbnail for The Impact of Mass Shootings on Gun Stock Prices and Sales: Exploring Long Run Correlation
    The Impact of Mass Shootings on Gun Stock Prices and Sales: Exploring Long Run Correlation by Petersilge, Stephen

    Mass shootings have been increasing at an alarming rate in recent decades. While no economic research has currently been completed on the subject, popular literature points to a national response of increased gun sales and rising gun stock prices. By examining the entirety of mass shootings between 2000 and 2016, I explore if all mass shootings elicit a response of increased gun sales, resulting in increased gun stock prices. I examine if there are specific traits of mass shootings that evoke a national response. The results suggest that not all mass shootings induce a spike in gun sales or gun stock prices. However, there are attributes of mass shootings that draw a larger response. This study pinpoints the traits of mass shootings that cause spikes in both gun sales and gun stock prices.

  • Thumbnail for The Impact of the Craft Beer Market Boom on Drunk Driving Fatalities
    The Impact of the Craft Beer Market Boom on Drunk Driving Fatalities by Hale, Bradley

    Drunk driving fatalities in the United States ha ve decreased significantly in the last several decades. To explain this trend, current literature examines possible reasons for the reduction and points to correlations between legislation, police enforcement levels, education levels, and alcohol abuse programs. However, there are limited studies analyzing the direct relationship between drunk driving fatalities and craft breweries. This paper studies this relationship at a nationwide level across the United States from 1994-2014 to better understand the complexities of the craft beer industry revolution and attempt to explain the decline in drunk driving deaths. To represent craft breweries, total breweries are analyzed while controlling for craft beer with a variety of demographic variables and other control variables. This study concludes that craft breweries are negatively correlated with drunk driving fatalities. Although the explanation to this discovery is challenging, the results provide insight to policy makers on the relationship between the rapid expansion of the craft beer market and drunk driving. These conclusions may lead to continued strategic efforts to eliminate drunk driving from our society.

  • Thumbnail for The Key to a Happy Life: The Impact of Outdoor Activities on Happiness
    The Key to a Happy Life: The Impact of Outdoor Activities on Happiness by Miller, Madigan

    This paper explores the relationship between outdoor activities and happiness. It is hypothesized that participation in outdoor activities increases happiness. A cross-section of data from the General Social Survey is used. After estimating the ordered logit regression on the Outdoor Activities frequency variable against General Happiness, Outdoor Activities is positive and statistically significant. Marginal effects and odds ratio tests confirm that when respondents participate in Camping, Hunting, and Playing Sports, there is a higher probability and greater odds that a participant will have the highest happiness level. When controls are added and other tests of robustness are run, the coefficient on Outdoor Activities remains the same and statistically significant.

  • Thumbnail for The Life of the Ruble as Told by Oil Prices
    The Life of the Ruble as Told by Oil Prices by Heil, Christian Jacob

    The Russian economy is widely assumed to have a fairly heavy reliance on the international oil market. This due to the large amount of oil Russia exports, and theoretically relies upon for economic success. This leads to a question of how responsive the Russian currency is to international oil prices. Using an ordinary least squares (OLS) model, it was found that the ruble is very dependent on valuations of international oil prices. The ruble and international oil prices experience a direct relationship where any rise in oil price will be reflected in the increasing value of the ruble, or decreasing value when oil prices fall.

  • Thumbnail for The New Glass Ceiling - Incarceration’s Effects on Lifetime Wage Growth
    The New Glass Ceiling - Incarceration’s Effects on Lifetime Wage Growth by Corwin, Theodore, III

    The United States incarcerates its citizens at rates higher than those of any other developed nation in the world, straining both its budgets and communities. The long-run effects of incarceration have been receiving more attention in the past two decades, but little research addresses incarceration’s effects on earnings trajectory. Using the National Longitudinal Survey of Youth for 1997, I implement propensity score matching to model the treatment effects of incarceration on wage growth rates, controlling for individual characteristics that influence labor market outcomes.

  • Thumbnail for The New Glass Ceiling Incarceration’s Effects on Lifetime Wage Growth
    The New Glass Ceiling Incarceration’s Effects on Lifetime Wage Growth by Corwin, Theodore, III

    The United States incarcerates its citizens at rates higher than those of any other developed nation in the world, straining both its budgets and communities. The long-run effects of incarceration have been receiving more attention in the past two decades, but little research addresses incarceration’s effects on earnings trajectory. Using the National Longitudinal Survey of Youth for 1997, I implement propensity score matching to model the treatment effects of incarceration on wage growth rates, controlling for individual characteristics that influence labor market outcomes.

  • Thumbnail for The New Glass Ceiling: Incarceration’s Effects on Lifetime Wage Growth
    The New Glass Ceiling: Incarceration’s Effects on Lifetime Wage Growth by Corwin, Theodore, III

    The United States incarcerates its citizens at rates higher than those of any other developed nation in the world, straining both its budgets and communities. The long-run effects of incarceration have been receiving more attention in the past two decades, but little research addresses incarceration’s effects on earnings trajectory. Using the National Longitudinal Survey of Youth for 1997, I implement propensity score matching to model the treatment effects of incarceration on wage growth rates, controlling for individual characteristics that influence labor market outcomes.

  • Thumbnail for The New Glass Ceiling: Incarceration’s Effects on Lifetime Wage Growth
    The New Glass Ceiling: Incarceration’s Effects on Lifetime Wage Growth by Corwin, Theodore, III

    The United States incarcerates its citizens at rates higher than those of any other developed nation in the world, straining both its budgets and communities. The long-run effects of incarceration have been receiving more attention in the past two decades, but little research addresses incarceration’s effects on earnings trajectory. Using the National Longitudinal Survey of Youth for 1997, I implement propensity score matching to model the treatment effects of incarceration on wage growth rates, controlling for individual characteristics that influence labor market outcomes.

  • Thumbnail for The New Glass Ceiling: Incarceration’s Effects on Lifetime Wage Growth
    The New Glass Ceiling: Incarceration’s Effects on Lifetime Wage Growth by Corwin, Theodore, III

    The United States incarcerates its citizens at rates higher than those of any other developed nation in the world, straining both its budgets and communities. The long-run effects of incarceration have been receiving more attention in the past two decades, but little research addresses incarceration’s effects on earnings trajectory. Using the National Longitudinal Survey of Youth for 1997, I implement propensity score matching to model the treatment effects of incarceration on wage growth rates, controlling for individual characteristics that influence labor market outcomes.

  • Thumbnail for The Next Big Short: an Econometric Analysis of the Subprime Auto Lending Market
    The Next Big Short: an Econometric Analysis of the Subprime Auto Lending Market by Scobie, Ian James

    With rising default rates on automobile loans, especially subprime, anxiety in the market is increasing. Eight-year auto loans are now common in the market and critics are claiming this is the next subprime bubble. This study hypothesizes that there will be a positive correlation between the delinquency rate of automobile loans and market wide factors such as, unemployment rate, gas prices, and the duration of loans. Panel data was collected from the Consumer Expenditure Survey as well and Experian in order to run econometric analysis. After analyzing the data from 2014 and 2015, the variables of interest were not statistically significant.

  • Thumbnail for The Plastic Recycling Industry and its Relationship to Oil Price
    The Plastic Recycling Industry and its Relationship to Oil Price by Boyle, Brooke

    Plastic manufacturers have a choice of purchasing virgin or secondary material for production. Virgin material in plastics production is oil, and secondary material is recycled plastic. Both can be used to make resin used in plastic production. This substitute relationship means that the material plastic recycling industry is likely to be impacted by changes to oil prices. If plastic recycling limits the negative externalities caused by virgin resource consumption and provides a viable substitute in the form of secondary material, then understanding the relationship between the two could be key to increasing the recycling rate and usage of secondary material in the future. A finite distributed and autoregressive distributed lag model are used to analyze the constant elasticity relationship between the price of oil and the producer price index of material plastic recyclers, using data from 1996-2016. It is expected that a positive impact between oil price in a previous period and the PPI of material plastic recyclers in the current period will be found.

  • Thumbnail for The Price of Leadership
    The Price of Leadership by Rothstein, Samuel

    Compensation in professional sports is something that is argued and debated over in fan circles all over the world. Whether a player was paid his or her deserved amount is a question that usually has had an ambiguous answer. In the National Hockey League (NHL), team captains are an integral part of the success of their team, but are they being compensated for their extra efforts? Data was collected from all NHL players that played a game between 2011 and 2016 and a quantile regression was run to assess how they are being compensated. The results show that at every salary level a team captain is compensated beyond their statistical impact.

  • Thumbnail for The Spillover of Mexican-Born Immigrants on Southwest States Due to The Legal Arizona Workers Act
    The Spillover of Mexican-Born Immigrants on Southwest States Due to The Legal Arizona Workers Act by Lincoln, Christopher John

    At the start of 2008, in Arizona, undocumented workers were faced with a complicated decision of whether or not to emigrate out of the state or to stay and face harsher labor laws. The Legal Arizona Workers Act was put in effect on January 1, 2008. This law made it necessary for all employers to verify their worker’s authorization status using E-Verify. As a result, there was a significant amount of emigration out of Arizona by unauthorized workers. Similar to the self-selection process narrowed down by Chiquiar and Hanson (2002), the sets of decisions made by this leaver group can be made clearer by studying where they moved. Building on Liou and Halliday (2015), this paper continues to focus on populations of Mexican-born workers living in the southwest in order to model an estimated movement of the leaver group. Ultimately, the model estimates that Texas and New Mexico are the states most likely to have had spillovers. Colorado and Nevada were the least likely to see spillovers. These results are in line with what is known about the movements of undocumented workers in current research; that workers leaving Arizona as a result of LAWA were focused on a move towards the state with, the highest share of their occupation, coupled with the least risk, and the highest population of undocumented immigrants.

  • Thumbnail for The Spillover of Mexican-Born Immigrants on Southwest States Due to The Legal Arizona Workers Act
    The Spillover of Mexican-Born Immigrants on Southwest States Due to The Legal Arizona Workers Act by Lincoln, Christopher John

    At the start of 2008, in Arizona, undocumented workers were faced with a complicated decision of whether or not to emigrate out of the state or to stay and face harsher labor laws. The Legal Arizona Workers Act was put in effect on January 1, 2008. This law made it necessary for all employers to verify their worker’s authorization status using E-Verify. As a result, there was a significant amount of emigration out of Arizona by unauthorized workers. Similar to the self-selection process narrowed down by Chiquiar and Hanson (2002), the sets of decisions made by this leaver group can be made clearer by studying where they moved. Building on Liou and Halliday (2015), this paper continues to focus on populations of Mexican-born workers living in the southwest in order to model an estimated movement of the leaver group. Ultimately, the model estimates that Texas and New Mexico are the states most likely to have had spillovers. Colorado and Nevada were the least likely to see spillovers. These results are in line with what is known about the movements of undocumented workers in current research; that workers leaving Arizona as a result of LAWA were focused on a move towards the state with, the highest share of their occupation, coupled with the least risk, and the highest population of undocumented immigrants.

  • Thumbnail for The Spillover of Mexican-Born Immigrants on Southwest States Due to The Legal Arizona Workers Act
    The Spillover of Mexican-Born Immigrants on Southwest States Due to The Legal Arizona Workers Act by Lincoln, Christopher John

    At the start of 2008, in Arizona, undocumented workers were faced with a complicated decision of whether or not to emigrate out of the state or to stay and face harsher labor laws. The Legal Arizona Workers Act was put in effect on January 1, 2008. This law made it necessary for all employers to verify their worker’s authorization status using E-Verify. As a result, there was a significant amount of emigration out of Arizona by unauthorized workers. Similar to the self-selection process narrowed down by Chiquiar and Hanson (2002), the sets of decisions made by this leaver group can be made clearer by studying where they moved. Building on Liou and Halliday (2015), this paper continues to focus on populations of Mexican-born workers living in the southwest in order to model an estimated movement of the leaver group. Ultimately, the model estimates that Texas and New Mexico are the states most likely to have had spillovers. Colorado and Nevada were the least likely to see spillovers. These results are in line with what is known about the movements of undocumented workers in current research; that workers leaving Arizona as a result of LAWA were focused on a move towards the state with, the highest share of their occupation, coupled with the least risk, and the highest population of undocumented immigrants.

  • Thumbnail for The Variable Effects of Exposure and Experience on Future Exponential Growth Bias
    The Variable Effects of Exposure and Experience on Future Exponential Growth Bias by Holland, Benjamin

    Exponential growth bias (EGB) is a largely unnoticed bias that plagues the financial decision making of most individuals in the United States. It is characterized as the tendency to linearize exponential compound saving and interest rates, and it shows itself through poor decision making around wrong estimates and/or no understanding of how money grows through time. Based on the theory that education and valid experience might tame EGB, a model was built to measure variable drivers of individual EGB related to exposure. Based on previous theory that more extreme situations demand more incentive for participation, it was hypothesized that the government dictated interest rates at times of individual’s first home purchases could subconsciously influence EGB, for two main reasons. First, a more expensive payment plan carries greater incentive to fully understand, and second, a first home purchase is a fundamentally monumental financial decision with potential to positively or negatively shape bias. A variable for interest rate at the time of a first home purchase was created a combined with more lifetime-housing-exposure variables theorized to influence EGB, to model overall effects of individual housing exposure on EGB. The results showed that government set interest rates hold no statistically significant influence on an individual’s current EGB, however, the marginal coefficients showed the correlations consistent with the theory. The model statistically significantly determined that the variables for number of homes purchased in a lifetime and price paid for a first home are inversely correlated with current EGB. In addition, income and education levels were statistically proven to be inversely correlated with current EGB.

  • Thumbnail for The Variance in Demand for Green Certified Buildings
    The Variance in Demand for Green Certified Buildings by Sawabini, Abigail

    As the presence of green buildings grows, developers and commercial tenants consider the costs and benefits of these real estate investments. This study investigates the price effects of environmental certifications on commercial office buildings in New York City and San Francisco. Specifically, looking at the levels of supply and demand in each region as an indicator of a price differential. If San Francisco’s heightened awareness towards environmental preservation increases the demand for green space more rapidly than the supply, the differential in real estate values in San Francisco will be larger than New York City. Using data from CoStar’s commercial real estate database and city’s assessor’s offices, a hedonic regression analysis estimates the effects of green certifications on rent and assessed value. By isolating two cities and analyzing their attitude towards green products in conjunction with the price differential, conclusions are drawn on consumer’s willingness to pay.

  • Thumbnail for The link between physician payments, physician behavior and patient outcomes
    The link between physician payments, physician behavior and patient outcomes by Shatzer, Derek Michael

    Understanding how physician behavior impacts patient outcomes has become a central concern in literature relating to the economics of healthcare. Using data from the 2010 U.S. Census and 2016 Hospital Compare Data, this paper analyzes how physician behavior impacts five different patient outcomes. We use the Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) scores that a patient will submit following their hospital visit, as our proxy for physician behavior. We find that the HCAHPS scores that are associated with physician behavior such as, communication with physician, communication about medication, and discharge information are all statistically significant in impacting patient outcomes. Previous literature has proven that physician payment schemes influence physician behavior. Our study was able to prove that physician behavior impacts patient outcomes. Ultimately we conclude that physician payment schemes influence patient outcomes.

  • Thumbnail for What Motivates Millennials? An Analysis of Work Values and Intrinsic Motivation
    What Motivates Millennials? An Analysis of Work Values and Intrinsic Motivation by Benjamin, Elizabeth M.

    Organizations are currently facing the retirement of the Baby Boomers and the challenge of recruiting, developing and retaining the newest generation to enter the workforce: the Millennials (born in or after 1980). This study investigates the work values and career expectations of this generation. Data were obtained from a survey of Millennials from across the U.S. (N=224). Data were analyzed using various techniques to assess the work values, career aspirations, and employment patterns of this generation. Millennials placed the greatest importance on the individualistic aspects of a job, as they rate work as less central to their lives, value leisure more, and want to develop personally throughout their careers while having a consistently high pay check. The results suggest that Millennials’ have high career expectations, and will job-hop in order to create a successful career for themselves. These findings have practical implications for the management of the emerging workforce.

  • Thumbnail for What determines the transfer fee of a soccer player?
    What determines the transfer fee of a soccer player? by Chin, Sayorn

    This paper examines the theoretical framework of the TP-CP model that establishes the relationship between a soccer player’s performance and his market value. An OLS estimation is used to investigate the characteristics that determine the transfer fee of a soccer player, and buying and selling behavior of soccer clubs during the transfer negotiation. The characteristics are divided into three categories: The characteristics of players, buying club, and selling club. Using cross-sectional data of 447 transfers in the English Premier League (EPL), including summer and winter transfer periods from July 2013 to May 2016, the results indicate that the characteristics tests explain a large part of the transfer fee of a player. In addition, the characteristics of players such as the average goals scored per game played increase the transfer fee of a player significantly. In fact, for every goal scored by a player, the transfer fee increases by approximately €9,112,000. This paper also deduces that the behavior of buying and selling clubs is largely methodical.

  • Thumbnail for When Merchants With Everything Know Exactly What You Want: Impulse Purchasing at Online Retail Stores
    When Merchants With Everything Know Exactly What You Want: Impulse Purchasing at Online Retail Stores by Russell, Aidan William

    The phenomenon of impulse purchasing, while extensively researched, has yet to be explored in online retail environments. However, in the modern-day market, where many consumers, particularly young people, do most of their shopping over the Internet, this is where the majority of spontaneous buying seems to occur. Survey research was employed to collect data about online impulse purchasing amongst a sample of 484 consumers from around the world. Subjects were measured for general tendency to make purchases on impulse using 20 cognitive and affective items from the Impulse Buying Tendency Scale (IBTS) (Verplanken & Herabadi, 2001), and then asked if they had exhibited this behavior at large-scale online retail stores, such as Amazon.com. The 244 subjects who admitted to doing so were asked another series of 20 questions regarding the motivation behind their purchasing decisions. Probit regressions were used to determine the effect of demographics on likelihood of making impulse purchases online and to explain this behavior within the context of the IBTS. These act as supplementary evidence to the two main OLS models, which were used to determine the correlation between different site features and consumer tendencies that influence site design respectively, and tendency to buy on impulse amongst online impulse purchasers. The results show that many features and aspects of design of online retail websites are successful in inducing impulse purchasing via the satisfaction of common consumer desire for simplicity and instant gratification in making purchases.

  • Thumbnail for Who Requests Generic Drugs From Their Doctor?
    Who Requests Generic Drugs From Their Doctor? by Luong, Toan Minh

    Rising faster than either wages or the cost of living, prescription drug expenditures present a significant burden on the economic well-being of patients in the United States. To curb such financial pressure on government healthcare programs, patients are encouraged to consume more generic medications that can be as much as 85 percent cheaper than their brand-name counterparts. Using the 2013 Medicare Current Beneficiary Survey dataset, this study explores the likelihood that Medicare beneficiaries requested generics from their primary doctors. The logistic regression model includes variables related to beneficiaries’ demographics, health conditions, insurance coverages, doctor-patient relationships, and cost-awareness. The final results align with those of previous studies by suggesting that non-Hispanic black beneficiaries older than 65 and those with higher education were more likely to request generics compared with those of other demographic groups. Other interesting findings show that beneficiaries who had experiences with drug samples, were satisfied with their drug coverage, and were cost- sensitive when shopping for medications tended to request generics more frequently. These conclusions have tremendous implications for policymakers, insurance companies, and generic manufacturers to provide educational programs, advertising campaigns, and financial incentives that promote low-cost generics usage and can save patients billions of dollars in medication expenditures.

  • Thumbnail for Why Do New Ventures Succeed? An Analysis of New-Firm Survival and Success
    Why Do New Ventures Succeed? An Analysis of New-Firm Survival and Success by Keogh, Daniel

    The purpose of this study is to evaluate how different founder and firm characteristics affect new venture performance. This research uses survival proportional hazard functions, and limited-information maximum likelihood instrumental regressions to measure the marginal effects on revenues and employment. A particular emphasis of this study is to look at the connectivity of different types of capital to measure how networks influence firm-success. For instance, the existence of a particular type of advantage and a background characteristic should represent the use of one’s network in securing success. The data used for this study come from the Kauffman Firm Survey (KFS), which surveys various firms’ founders on their background and the state of the firm from 2004-2011. The expected result of this study is that the interaction terms that capture whether a founder is leveraging his or her network will be a much stronger predictor of the different measurements of success than any measure of a founder’s background or the firm’s connections and capital structures.

  • Thumbnail for Wine as an Investment: A Case Study of Bordeaux Wine
    Wine as an Investment: A Case Study of Bordeaux Wine by Edel, Nicholas

    High quality wine has become an increasingly interesting investment. The highest returns on wine investment are associated with Premier Crus from Bordeaux. This paper will address the determinants that impact their returns. Returns on wine will be predicted through weather variables, the maturation of the wine, quality scores and returns on the market. Wine returns will also be examined to judge their efficacy in diversifying an investor's portfolio for purposes of hedging.

  • Thumbnail for the variance in demand for green certified buildings
    the variance in demand for green certified buildings by Sawabini, Abigail

    As the presence of green buildings grows, developers and commercial tenants consider the costs and benefits of these real estate investments. This study investigates the price effects of environmental certifications on commercial office buildings in New York City and San Francisco. Specifically, looking at the levels of supply and demand in each region as an indicator of a price differential. If San Francisco’s heightened awareness towards environmental preservation increases the demand for green space more rapidly than the supply, the differential in real estate values in San Francisco will be larger than New York City. Using data from CoStar’s commercial real estate database and city’s assessor’s offices, a hedonic regression analysis estimates the effects of green certifications on rent and assessed value. By isolating two cities and analyzing their attitude towards green products in conjunction with the price differential, conclusions are drawn on consumer’s willingness to pay.