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2017-2018

94 hits

  • Thumbnail for THE EFFECT OF WEATHER ON WINE GRAPE SUITABILITY ALONG THE WEST COAST OF THE UNITED STATES
    THE EFFECT OF WEATHER ON WINE GRAPE SUITABILITY ALONG THE WEST COAST OF THE UNITED STATES by ,

    In the context of the important implications of climate change, this paper analyzes the impact of weather on wine quality and prices for premium wines in regions along the west coast of the United States. The aim of this research is to determine the most suitable areas for growing wine grapes in this area of the United States with expectations of a changing climate. This study uses a collection of wine data from Wine Spectator (9,650 observations) from 2005 to 2015 for Washington, Oregon, Sonoma, and Mendocino wine regions. Three Ordinary Least Squares regression models use ten weather variables including both average temperatures and precipitation to explain variation in wine quality ratings and release prices. The results suggest that the quality of Oregon wine, especially pinot noir, is benefitting the most from rising temperatures and increased rainfall. Oregon’s cool, wet climate provides the most optimistic outlook regarding climate change.

  • Thumbnail for THE EFFECTS OF THE OLYMPICS ON THE HOST CITY’S REAL ESTATE MARKET USING REIT DATA
  • Thumbnail for THE PLUME: A VALUATION OF SULFUR DIOXIDE EMISSIONS FROM THE MARTIN DRAKE POWER PLANT
    THE PLUME: A VALUATION OF SULFUR DIOXIDE EMISSIONS FROM THE MARTIN DRAKE POWER PLANT by Higham, John

    This thesis examines sulfur dioxide (SO2) emissions from the Martin Drake coal-fired power plant in downtown Colorado Springs and quantifies the resulting negative public health impact on local residents. This paper utilizes an ordinary least squares regression with White standard errors to model the impact of the plant’s SO2 emissions on ambient surface-level SO2 concentrations using daily emissions, concentration and weather data from 2014 to 2017. The resulting public health response is estimated using established correlations of SO2 concentration and all-cause mortality rate. The mortality rate impact is subsequently priced using the statistical value of a life, thus quantifying the negative externality of the plant’s SO2 emissions. This paper finds that accelerating decommissioning of the Drake plant by 10 years (to 2025 rather than 2035) would avoid 1.517 premature deaths and generate a net present value public health benefit of $9,183,312 from the SO2 emission reduction alone.

  • Thumbnail for The Distribution of Stock Price Fluctuations: An Econophysical Study
    The Distribution of Stock Price Fluctuations: An Econophysical Study by Korman, Hayley Jane

    Many widely-used financial models assume a normal distribution of stock price returns, despite increasing evidence that this is not the case. These assumptions ignore the real chances of extreme events and fluctuations occurring, and they underestimate the risk of investing in the market. This thesis examines the distribution of daily stock price fluctuations, using decades of data from exchange-traded funds (ETFs) that encapsulate the market. Findings are that a power law model is a good fit for the distribution, after a certain minimum x value, and a lognormal distribution is a good fit up until and after that x value. Both distributions allow for the possibility of unpredictable, uncertain, significant events.

  • Thumbnail for The Distribution of Stock Price Fluctuations: An Econophysical Study
    The Distribution of Stock Price Fluctuations: An Econophysical Study by Korman, Hayley

    Many widely-used financial models assume a normal distribution of stock price returns, despite increasing evidence that this is not the case. These assumptions ignore the real chances of extreme events and fluctuations occurring, and they underestimate the risk of investing in the market. This thesis examines the distribution of daily stock price fluctuations, using decades of data from exchange-traded funds (ETFs) that encapsulate the market. Findings are that a power law model is a good fit for the distribution, after a certain minimum x value, and a lognormal distribution is a good fit up until and after that x value. Both distributions allow for the possibility of unpredictable, uncertain, significant events.

  • Thumbnail for The Effect of Public Service Motivation on Board Member Commitment
    The Effect of Public Service Motivation on Board Member Commitment by Rubin, Brian

    While there is research demonstrating public service motivation’s relevance for board members, there is none that shows PSM’s impact on board member commitment. Board member commitment is becoming increasingly vital to maintain responsible governance of large nonprofit organizations. This article fills this the gap by analyzing whether levels of PSM and antecedents to membership influence a board member’s tenure at a single organization, as well as their number of hours committed per month to board and committee work. Despite two significant findings it can be concluded that a board member’s tenure and level of participation cannot be predicted based on parental socialization, religious activity and level of public service motivation, suggesting that there is not one prototypical “committed board member.”

  • Thumbnail for The Effects of Emotional Rhetoric on Individual Contributions in US Senate Races
    The Effects of Emotional Rhetoric on Individual Contributions in US Senate Races by Gifford, Thomas

    This paper aims to study the effect emotional rhetoric has on individual contributions to candidates for the United States Senate. This is done by proposing two overlapping models, each using the same independent variables but different dependent variables. The first model uses the total dollar amount collected through individual contributions (TIC) as the dependent variable while the second measures individual contributions as a proportion of all contributions (PIC). This study hypothesizes that the positive effects of positive rhetoric outweighs the positive effects of negative rhetoric. It examines 174 candidates who ran during the five Senate elections between 2006 and 2016. Emotional analysis is run on the transcripts of national TV appearances made by each candidate during the year leading up to an election year through election day. Emotional analysis is done using the Linguistic Inquiry Word Count Engine (LIWC). While both models show significant the variables that measure positive and negative emotion show insignificant results. This paper confirms existing literature in showing that incumbency status, race competitiveness, leadership positions, and home state population are significant drivers of individual contributions. Further research is necessary to isolate the effects of positive and negative emotions on giving behavior.

  • Thumbnail for The Effects of Using Performance Enhancing Drugs on Major League Baseball Players' Salaries
    The Effects of Using Performance Enhancing Drugs on Major League Baseball Players' Salaries by Swift, William Alexander

    This paper estimates performance enhancing drugs' (PEDs) effect on Major League Baseball player's salaries. Our data set included single season data from 47 PED offenders and a control group of 56 non-PED users. Our performance and salary data was collected from baseballreference.com. We use ordinary least squares regressions to estimate PEDs effect on slugging percentage (SLG), on-base percentage (OBP), wins above replacement (WAR) and one year salaries. We find that a player using PEDs is estimated to see a 0.0317 increase in their SLG, a 0.0139 increase in their OBP, a 0.459 increase in WAR, and finally a $149,810.15 increase in yearly salary.

  • Thumbnail for The Global Financial Crisis and Contagion Effects in East Asia: A DCC-GARCH Approach
    The Global Financial Crisis and Contagion Effects in East Asia: A DCC-GARCH Approach by Hoffman, Riley

    This paper investigates potential contagion effects from the United States to the East Asian economies of Japan, South Korea, and Hong Kong during the Global Financial Crisis (2007-2009). Time-varying correlations are estimated for weekly stock market index returns from 2000 to 2017 using a dynamic conditional correlation, generalized autoregressive conditional heteroskedasticity (DCC-GARCH) model. Contagion effects are tested by splitting the sample period into three sub-periods: pre-crisis, crisis, and post-crisis, and then using mean difference and median difference tests to check for any significant changes in correlation between sub-periods. The results show evidence of contagion from the United States for all three East Asian economies during the Global Financial Crisis, as well as an increase in market interdependence since the crisis.

  • Thumbnail for The Impact of Fractionalization on Infrastructure Provision Through Public-Private Partnerships
    The Impact of Fractionalization on Infrastructure Provision Through Public-Private Partnerships by Park, Yoon Jo

    For many lower and lower-middle-income countries, provisions of infrastructure often present significant advanced costs that they simply cannot afford. In turn, many governments procure private sector investment in the form of public-private partnerships to address the ever-growing need for public goods provisions. Previous works of literature exist on the determinants of public-private partnership projects and their investment, but largely absent has been the factor of social climate, especially how cultural divisions among the general population can affect these endeavors. This study instruments governance with fractionalization to estimate its effect on public-private partnerships.

  • Thumbnail for The Impact of Income Level and Lottery Characteristics on Monthly Lottery Ticket Sales: Evidence from the Texas State Lottery
    The Impact of Income Level and Lottery Characteristics on Monthly Lottery Ticket Sales: Evidence from the Texas State Lottery by Morgan, Christopher (Kit)

    Using Texas Lottery and US Census data, this paper examines changes in lottery ticket sales between the first and the second halves of the month, across two types of lottery games, and different income levels. In both poor and non-poor areas there is 10% increase over average big-jackpot ticket sales during the first half of the month. Across instant lottery tickets in both poor and non-poor areas, there is no change between halves of the month. This result suggests that changes in lottery ticket sales over the course of the month are not driven by income levels, but by lottery structures.

  • Thumbnail for The Impact of Medicare Part D On Elderly Health
    The Impact of Medicare Part D On Elderly Health by Frechter, Susannah

    Medicare provides the 65+ population with affordable health insurance. Medicare Part D was introduced in 2006 and provides the Medicare population with prescription drug coverage. We examine the impact of Medicare Part D on the health of the elderly by examining the trends in mortality rates before and after the Medicare Part D implementation. We find that Medicare Part D reduced elderly mortality rates by 2.2%.

  • Thumbnail for The Impact of Urban Agriculture on Malnutrition in Africa
    The Impact of Urban Agriculture on Malnutrition in Africa by Powell, Grace

    Africa currently has the highest number of people who are malnourished. This has to do with the growing inequalities in the country and the inadequate food supply. The upper class has access to most of the resources, and people in Africa are living in extreme poverty, 74 cents a day. This study seeks to back up the claim that urban agriculture does have a relationship with food insecurity. It specifically looks at the relationships between the prevalence of undernourished, average dietary energy supply adequacy, average value of food production, percentage of arable land equipped for irrigation, access to improved water source, access to improved sanitation and the value of agricultural production. Using data from the Food and Agriculture Organization in order to understand the impacts urban agriculture can have on food insecurity in Africa.

  • Thumbnail for The Impact of the Colorado Hunting Tag Draw System on State-Wide Deer Management
    The Impact of the Colorado Hunting Tag Draw System on State-Wide Deer Management by Walton, Joseph C., Jr.

    Deer populations in Colorado are actively declining and do not show signs of leveling off or recovering in the near future. Many biologists and hunters consider this the new norm for deer populations, but the trend contrasts current literature on other states that are experience increases in deer influenced by changing climates, improved management understanding, and higher focus on habitat improvement. Little work exists, however, exploring how different hunting tag draw systems impact management success. This paper fills this gap and helps begin analyzing why Colorado, a mostly predator free state, is experiencing a deer population decline. The Colorado draw system, a preference point lottery, is expected to negatively influence management success. In order to provide a proper representation of the deer population dynamic landscape, this thesis includes data analysis unit (DAU) level data and estimates to account for deer populations, sex ratios, weather, management goals, draw success, preference points, hunter success, mortality, and growth. The model uses a binary dependent variable combining both population management success and sex ratio success. Using logistic regression, the variables are analyzed using the marginal effects on how they influence the probability of management success. The goal of this model is to inform the Colorado deer management community on how the draw system impacts management success and to provide an outline for other states to perform a similar evaluation.

  • Thumbnail for The Index Effect: Abnormal Returns Following an Addition to the S&P 500
    The Index Effect: Abnormal Returns Following an Addition to the S&P 500 by Houska, Eric

    Using additions to the Standard and Poor's (S&P) 500 between 2000 and 2003, I explore the price and volume effects that the securities face on their respective addition announcement day. Attempts to identify price pressures surrounding an addition to the S&P 500 by focusing on opening and closing stock/index prices and trading volumes. The results are more consistent with the efficient market hypothesis than the price pressure hypothesis. Observed are large increases in trading activity leading to a shift in demand for the added security. However, positive abnormal returns are not concluded from this study

  • Thumbnail for The Road to Prison: Incarceration Disparity and its Underlying Factors
    The Road to Prison: Incarceration Disparity and its Underlying Factors by Martin, Christopher Robert

    When comparing the incarceration rate in the United States to that of other countries, there is a substantial difference. In addition to leading the world in incarcerated population, there is a disparity in the incarceration rates of the United States with respect to race as well. Using data gathered from the National Longitudinal Survey of Youth, I analyzed the probability of sentencing to a correctional facility based on the independent variables of race (black, Hispanic, nonblack/non-Hispanic), highest grade completed, number of times suspended, income, and number of parents in the household. It was found that race plays a role in probability of sentencing to a correctional facility, in addition to income, educational attainment, and presence of the mother in the household.

  • Thumbnail for UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS
    UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS by Jandreau-Smith, Stefan

    In the span of just over 20 years, once small companies like Amazon have grown into major retailers that have taken substantial market-share from retail behemoths like Nordstrom and JC Penny. One of the driving factors of this shift is the adoption of online access in the vast majority of American homes. This study aims to understand how the increase in online adoption has changed consumer behavior, and whether or not the increase in internet access has pushed consumers to spend more on luxury purchases. A Random Effects Poisson regression was used to observe the effects of internet access on consumer luxury spending behavior from 2000-2016. The findings were inconsistent with the initial hypothesis, that luxury good expenditures would increase with internet access. Instead, luxury good expenditures decreased as the percentage of Americans with internet increased.

  • Thumbnail for UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS
    UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS by Jandreau-Smith, Stefan

    In the span of just over 20 years, once small companies like Amazon have grown into major retailers that have taken substantial market-share from retail behemoths like Nordstrom and JC Penny. One of the driving factors of this shift is the adoption of online access in the vast majority of American homes. This study aims to understand how the increase in online adoption has changed consumer behavior, and whether or not the increase in internet access has pushed consumers to spend more on luxury purchases. A Random Effects Poisson regression was used to observe the effects of internet access on consumer luxury spending behavior from 2000-2016. The findings were inconsistent with the initial hypothesis, that luxury good expenditures would increase with internet access. Instead, luxury good expenditures decreased as the percentage of Americans with internet increased.

  • Thumbnail for UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS
    UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS by Jandreau-Smith, Stefan

    In the span of just over 20 years, once small companies like Amazon have grown into major retailers that have taken substantial market-share from retail behemoths like Nordstrom and JC Penny. One of the driving factors of this shift is the adoption of online access in the vast majority of American homes. This study aims to understand how the increase in online adoption has changed consumer behavior, and whether or not the increase in internet access has pushed consumers to spend more on luxury purchases. A Random Effects Poisson regression was used to observe the effects of internet access on consumer luxury spending behavior from 2000-2016. The findings were inconsistent with the initial hypothesis, that luxury good expenditures would increase with internet access. Instead, luxury good expenditures decreased as the percentage of Americans with internet increased.

  • Thumbnail for UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS
    UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS by Jandreau-Smith, Stefan

    In the span of just over 20 years, once small companies like Amazon have grown into major retailers that have taken substantial market-share from retail behemoths like Nordstrom and JC Penny. One of the driving factors of this shift is the adoption of online access in the vast majority of American homes. This study aims to understand how the increase in online adoption has changed consumer behavior, and whether or not the increase in internet access has pushed consumers to spend more on luxury purchases. A Random Effects Poisson regression was used to observe the effects of internet access on consumer luxury spending behavior from 2000-2016. The findings were inconsistent with the initial hypothesis, that luxury good expenditures would increase with internet access. Instead, luxury good expenditures decreased as the percentage of Americans with internet increased.

  • Thumbnail for UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS
    UNDERSTANDING THE EFFECT OF THE GROWTH OF INTERNET ACCESS ON LUXURY PURCHASING DECISIONS by Jandreau-Smith, Stefan

    In the span of just over 20 years, once small companies like Amazon have grown into major retailers that have taken substantial market-share from retail behemoths like Nordstrom and JC Penny. One of the driving factors of this shift is the adoption of online access in the vast majority of American homes. This study aims to understand how the increase in online adoption has changed consumer behavior, and whether or not the increase in internet access has pushed consumers to spend more on luxury purchases. A Random Effects Poisson regression was used to observe the effects of internet access on consumer luxury spending behavior from 2000-2016. The findings were inconsistent with the initial hypothesis, that luxury good expenditures would increase with internet access. Instead, luxury good expenditures decreased as the percentage of Americans with internet increased.

  • Thumbnail for Understanding the Effect of the Growth of Internet Access on Luxury Purchasing Decisions
    Understanding the Effect of the Growth of Internet Access on Luxury Purchasing Decisions by Jandreau-Smith, Stefan

    In the span of just over 20 years, once small companies like Amazon have grown into major retailers that have taken substantial market-share from retail behemoths like Nordstrom and JC Penny. One of the driving factors of this shift is the adoption of online access in the vast majority of American homes. This study aims to understand how the increase in online adoption has changed consumer behavior, and whether or not the increase in internet access has pushed consumers to spend more on luxury purchases. A Random Effects Poisson regression was used to observe the effects of internet access on consumer luxury spending behavior from 2000-2016. The findings were inconsistent with the initial hypothesis, that luxury good expenditures would increase with internet access. Instead, luxury good expenditures decreased as the percentage of Americans with internet increased.

  • Thumbnail for Using Commodity Price Change to Model Exchange Rate Changes in Commodity-Dependent Developing Countries
    Using Commodity Price Change to Model Exchange Rate Changes in Commodity-Dependent Developing Countries by Bell, Jared Dunham

    A country’s exchange rate is a fickle instrument used to stabilize its economic status. The utility and impact of this instrument is amplified for developing countries, as the volatile nature of their exchange rates can have a more profound impact on a fragile economy. Further, developing countries that are export dependent, especially commodity dependent, have proven to respond to limited variables such as inflation and interest. This paper explores the influence of commodity price on commodity-dependent developing countries, and how it may differ for non-commodity-dependent countries. The paper looks at a 65 developing countries and restricts them based on commodity-dependency and then models the change in their exchange rate using commodity price, inflation, and interest as independent variables. The conclusion is that commodity price and inflation has significant explanatory power for modeling exchange rate changes for commodity-dependent countries. The policy implications for the results are discussed.

  • Thumbnail for Video Games in the United States: An Econometric Analysis of the household level demand system
    Video Games in the United States: An Econometric Analysis of the household level demand system by Khadka, Aabhusan

    The majority of economic literature on video games industry focuses on the details of the manufacturer side of this market. This study is an attempt to deviate from the popular trend and investigate the consumer side of the market. Making use of the data collected via Consumer Expenditure Survey (CES) provided by the Bureau of Labor Statistics (BLS), this article investigates the household demand model for video games in the United States. Result of this estimation state that video games are a necessary normal good in the U.S. Market since households’ expenditure per capita and income level have significant effects on the demand of video games and households’ demographic composition have no significant effects on the goods demand. These results are estimated using cross-sectional data for the year of 2016 and Ordinary Least Square (OLS) procedure due to time constrains.

  • Thumbnail for Who Gets Paid More? Determinants of Salary in a Lower Revenue Generating NCAA Division 1 Sport
    Who Gets Paid More? Determinants of Salary in a Lower Revenue Generating NCAA Division 1 Sport by Harrison, Emily Pearl

    This paper examines pay discrimination in relation to female swimming and diving coaches a part of the NCAA (National Collegiate Athletic Association) Division I conference. To evaluate pay discrimination, this paper assesses the impact of various determinants on annual base salary of coaches in the lower revenue generating sport of swimming and diving. This study analyzes data from the 2016 Salary Survey by CSCCA (College Swimming & Diving Coaches Association of America) using an ordinary least squares regression model. It is worth noting that the salaries of coaches in lower revenue generating sports, specifically at institutions with NCAA Division I affiliated men’s football and basketball programs, are being subsidized due to increased earnings. These results suggest that gender is a significant predictor of a coach’s annual base salary. This study also finds autonomy structure, years of experience, and NCAA Division I to be significant determinants of a head coach’s annual base salary.