The paper attempts to expand upon the collective reputation theory relating to the hedonic pricing of wine. Data was collected concerning Cabernet Sauvignons of California and a hedonics model was developed based on relevant literature. The goal was to examine the results for different scopes of region of origin, as well as introduce a collective reputation variable based on the work of Tirole. As expected, greater detail in region of origin provided superior results as well as pricing benefits for smaller sub regions of origin. The collective reputation variable behaved opposite to the expectation, with a negative effect on price. This differs from Tirole’s theory because of several fundamental reasons including: level of consumer information, multicollinearity issues and greater descriptive power of regions of origin.
Beginning in the early 1960's, local governments throughout the United States have implemented growth management policies intended to influence the pattern of development and restrict growth. These regulations affect the conditions of community life by increasing property values, shifting demographics, and altering the delivery of public services. This thesis examines these effects through case studies of the City of Boulder, the City of Berkeley, and the City of Fort Collins, using data primarily from the US Census Bureau. It is hypothesized that the city with the most growth management policies will experience these effects to a greater magnitude. This was found to be partly true; there are other overriding factors that contribute to these changes more so than the presence or absence of growth management policies.
Marijuana legislation in the United States dates back to the early twentieth century. History has shown how policymakers have twisted the creed of marijuana to something dangerous and deadly. Yet, recent years have shown how individual states have been able to reduce the stigma surrounding this drug. Proposition 19 was defeated in California during November of 2010. This proposition would have legalized the consumption, production, and possession of marijuana in California for adults 21 years of age and older. This thesis illustrates the fiscal benefits that might be realized if marijuana were legalized, regulated, and taxed. While other results have recently been produced, this paper combines data, theory, and estimates from a number of renowned sources, to find the potential tax revenue that could be generated from legalization. The results are compiled with current budget deficit and revenue figures, to find the overarching fiscal impact. While others have offered different outcomes, the results indicate that legalization will only slightly improve the monetary situation in California.
California is home to 3 million of the United Statesâ 11 million unauthorized immigrants. With 9 billion dollars spent annually on illegal immigrants and their children in unreciprocated schooling, incarceration, medical, and deportation costs, California must enact new legislation if it aims to cut the nationâs biggest debt which currently stands at $77.8 billion in outstanding general obligation bonds and an additional $42.8 in authorized but unissued bonds. House Representative Elton Gallegly of District 24, the Chairman of the Judiciary Committeeâs Subcommittee on Immigration Policy and Enforcement, has recently advocated the use of E-Verify to combat the prevalence of illegal labor. This thesis includes interviews with small business owners who hire from the secondary labor market and live in District 24, and gauges their opinions on illegal immigrant labor and the use of E-verify as a way to combat it.