By Nell Jones
Music streaming has increased industry revenue and displaced piracy, but limited profits for artists. In this thesis, I examine user loyalty to streaming platforms, focusing on the asset specificity of features and estimating what users are willing to pay for each of these features. A structural equation model of survey data shows that feature satisfaction positively affects both asset specificity of and overall satisfaction with streaming platforms, strengthening user loyalty. Using conjoint analysis, I estimate that users are willing to pay at least $14.40 for platforms that offer algorithm, playlist and social features, and the ability to download music.
Advisors: Professor Michael Munger, Professor Grace Kim | JEL Codes: Z1, Z11, M21
By Alican Arcasoy
Membership in the European Union has long been a goal of the Turkish Government. The economic benefits of access to the single European market are highly attractive for a developing country like Turkey. However, joining the European Union requires a number of costly reforms. The institutional, political, and economic changes demanded by the Copenhagen Criteria can rack up a large bill for some governments. This paper will focus on the costs of reforming Turkey’s Judiciary to meet European Union standards, and whether or not those costs outweigh the economic benefits of membership.
Advisor: Michael Munger | JEL Codes: F5, F53, F59
By Chidinma Hannah Nnoromele
This paper provides an empirical study of the influence of religion, religiosity, and patriarchal norms on female labor force participation across 40 countries. Using micro-level data from the International Social Survey Programme (ISSP) 2012: “Family and Changing Gender Roles IV and macro-level data from World Bank Group’s Women, Business, and the Law 2012 database, the study examines religious and patriarchal aspects that influence female labor force participation among working women, ages 15 to 64. The analysis supports the hypothesis that more religious and socially conservative women are less likely to have paid work. However, the analysis, which examines ten different religions, finds that the specific religion a woman practices, excluding the cultural religions (Judaism and Hinduism), does not influence female labor force participation when controlling for national and environmental cultural factors. This suggests that a country’s institutions, socio-political context, and geographic cultural heritage matter in the way that religiosity is expressed in women’s economic participation.
Advisor: Michael Munger, Michelle Connolly | JEL Codes: J1, D19, J21, J22
The Impact of Online Streaming on Primetime Viewership An Econometric Analysis of Technological Change, Network Practices and Audience Behavior
By Yeshwanth Kandimalla
This study considers the impact of online streaming on the viewership of popular primetime programs aired on four major U.S broadcast networks: ABC, CBS, FOX and NBC. The time period considered will begin with the 2004-2005 TV season through the 2011-2012 season. Technological change, primarily with faster Internet speeds, spurred some growth of online video streaming. Furthermore, over this time period, the four major networks all authorized streaming at different levels. This variation in availability provides the heterogeneity needed to compare the effect of making programs available
online. The existing literature has posited two effects of online streaming: substitution away from traditional TV viewing due to lower costs or complementarity by drawing in additional viewers. Using this framework, this study conducts an empirical analysis of TV viewership and online availability with a panel of more than 3,500 episodes across 8 seasons and 42 programs. The results strongly suggest that online streaming options drive statistically significant substitution away from traditional TV viewing, a trend that can have major consequences for the distribution of TV programs and the broadcast TV business as a whole.
Advisor: Michael Munger, Michelle Connolly | JEL Codes: D12, D22, L82 | Tagged: Big Four, Cable Cord-cutting, FOX, Hulu, Network Television, Networks, Online Streaming
By Rebecca Li
This study uses the PriceofWeed.com data set first examined in Thies (2012) to analyze the price-quantity relationship for marijuana transactions and to determine the effect of various state-level factors on marijuana prices. By applying the cost-based full fixed cost recovery pricing model developed by Britney, Kuzdrall, and Fartuch (1983), this paper finds support for an inverse price-quantity relationship for marijuana rather than a logarithmic or linear relationship. User-rated quality is robust and significant across all models, and price-quantity discount elasticity of -0.220 is observed empirically. An analysis of state-level legal, demand-side, and supply-side determinants of marijuana price demonstrates that medical marijuana has a negative relationship with price, perhaps due to the reduction in risk faced by suppliers when medical marijuana is legalized.
Advisor: Michael Munger, Phil Cook | JEL Codes: D04, I18, K42 | Tagged: Marijuana, Price, Quality, Transaction Size