Optimal Ordering in Sequential English Auctions: A Revenue-Comparison Model for 18th Century Art Auctions in London and Paris
By Amaan Mitha We develop a model based on several auction parameters to test the widely held notion that in a sequential English auction, it is optimal for the seller to arrange the lots in order of decreasing value. We test this model against two datasets of 18th century auctions, one of various auctions from […]
Empirical Analysis on the Effects of Jumps on Realized Beta and the Disentanglement of Jump Beta1
By Hao Sun This paper constructs jump-robust estimators for the beta in Capital Asset Pricing Model (CAPM) in order to test the robustness of the recently developed Realized Beta in the presence of large discontinuous movements, or jumps, in stock prices. To complete the analysis on effect of jump on Realized Beta, this paper also […]
Integrating Medicare and Medicaid Healthcare Delivery and Reimbursement Policies for Dual Eligible Beneficiaries: A Cost-Efficiency Analysis of Managed Care
By Kan Zhang The extreme underpricing of Chinese Initial Public Offerings in the early days of the Chinese equity markets was reduced by several reforms instituted by the Chinese government from around 2000 to 2002. These reforms reduced 1-day returns on IPOs from 295% to 72%. The reforms reduced IPO underpricing by decreasing the inequality […]
Job Choices, Flexibility and Maternal Labor Force Participation
By Samantha Cox While there are countless studies concerning the effects of various variables on female labor force participation, there are still many unexamined intricacies involved in a woman’s choice to enter, re-enter or leave the work force. This paper attempts to extend on previous research and examine how the flexibility of a woman’s job […]
Market Power & Reciprocity Among Vertically Integrated Cable Providers
By Jeffery Shih-kai Shen This paper seeks to investigate the effects of vertical integration on the cable industry. There are two main goals that the research paper will attempt to address. The first is to build upon existing research on favoritism shown by multichannel video programming distributors (MVPDs) to affiliated video programming networks. Second, the […]
“Winner-Take-All Economics” Professional Inquiry and Public Discourse on Material Inequality
By Jonathan Pryor What can account for the failure of economists to extend a firm guiding hand into the public discourse on material inequality in contemporary America? This paper reviews historical and modern economic literature and then extends its focus to the debates in the public sector, private opinion, “think tanks,” the news media, the […]
Extending the Possibilities of Kidney Exchange with Compatible Pairs
By Karna Mital Kidney exchange enables incompatible pairs to exchange kidneys so each recipient can receive a transplant. Compatible pairs have not yet been incorporated in any kidney exchange program. The present study incorporates compatible pairs in cycles-only mechanism, and focuses on the HLA match aspect of match quality. When 27.7% of compatible pairs participate, […]
Do Teenagers Exhibit Rational Expectations Regarding Mortality, Fertility and Education Outcomes?
By Nikolay Braykov Microeconomic models often use the Rational Expectation Hypothesis (REH) instead of including expectation data. This paper examines the validity of the REH using subjective probability questions about mortality, fertility and education outcomes from panel data. First, I ask whether expectations are accurate and homogenous at the individual level; I find substantial forecast […]
Rebalancing, Conditional Value at Risk, and t-Copula in Asset Allocation
By Irving Wang Traditional asset allocation methods for modeling the trade between risk and return do not fully reflect empirical distributions. Thus, recent research has moved away from assumptions of normality to account for risk by looking at fat tails and asymmetric distributions. Other studies have also considered multiple period frameworks to include asset rebalancing. […]
