This volume is the ninth annual publication of the Duke Journal of Economics, formerly the Undergraduate Economics Journal. Founded in 1988, the Journal is a showcase for the outstanding contributions made each year to the discipline of economics by Duke undergraduates. It is now on-line at www.econ.duke.edu/Joumals/DJE/dje.html. In order to recognize the best work submitted to the Duke Journal of Economics, the Journal awards a prize for the best submission each year. We would like to congratulate Peter Ahlin for being selected as the second annual winner for his submission, “Equilibrium Existence in the Symmetric Hotelling Model with Negative Network Effects.” Professor Herve Moulin advised this paper.
The Journal would like to thank Craufurd Goodwin, Edward Tower, the Allen Starling Johnson Fund, Jr. Endowment Fund, and the staff of the Duke University Economics Department.
Manuscript submissions should be forwarded to Duke Journal of Economics, Duke University, Room 305 Social Sciences, Durham, NC 27708.
Contents
Equilibrium Existence in the Symmetric Hotelling Model with Negative Network Effects by Peter Ahlin………………………………………………… 1
Economic Science and Social Security Analysis: A Lakatosian Perspective by Robert A. Pleasant …………………. ~………………… 29
Sweetening the Pot: the Determinants of Sugar PAC Contributions by Justin P. Knowles……………………………………….. 91
Telecommunications in China by Taryn O’Neill……………………………………………… 104
A Different Approach to Duration by Mike Meyers………………………………………………. 121
Oligopolies in the Commercial Airline Industry: A Historical Focus on American Airlines by John Mack.~························································ 134
Volatility Modeling in Finance by Michael A. Tito………………………………… 150
Asymmetric Information in the New Issue Market: A Function of lPO
Premarket Underpricing and Aftermarket Herd Behavior by Manya Klempner …. ……………………………………. 177
China’s Population and it$ Challenge to Economic Development by Sergio La~unes…………….. … . … . .. . . . . .. . . . . .. 208
