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Category Archives: Z1

User Loyalty and Willingness to Pay for a Music Streaming Subscription

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.

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Advisors: Professor Michael Munger, Professor Grace Kim | JEL Codes: Z1, Z11, M21

Investigating the Costs of Religious Observance: Cross-Country Analysis of Islamic Banking

By Myla Swallow and Richard Vargo

This study regresses key variables that influence the profitability of Conventional and Islamic banks as measured by Return on Average Assets, to determine the impact of Islamicity on the profitability of the banks in a given country. The study compares 36564 banks in 77 countries belonging to both Islamic and non-Islamic countries. We  find that Islamic banks have higher operating costs and overall experience lower return on average assets.

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Advisors: Professor Kent Kimbrough, Professor Michelle Connolly | JEL Codes: F30; G21; Z12

Does Media Coverage of Sexual Assault Cases Cause Victims to Go to the Police? Evidence from FBI Data and Google Trends

By Harry Elworthy

This paper investigates the effect that national news coverage of prominent sexual assaults has on the reporting decisions of sexual assault victims. Estimates are based on time series data of reports made to police stations in the US from 2008 to 2016 and Google Trends data of search volume, along with an identification strategy that uses a number of individual high profile sexual assault allegations and related events as instruments. By removing assaults that occurred on the day that they were reported, I estimate the effect of coverage only on the reporting of assaults, and not on assaults themselves. A significant positive effect of news coverage on sexual assault reporting is found using several specifications. Back-of-the-envelope calculations suggest that there were between 31 and 121 additional reports of sexual assault for each of the 38 high profile events captured. No evidence is found to suggest that these additional reports of sexual assault have different arrest rates to other reports, indicating that there are not a significant number of false reports. This paper adds to current literature on the sexual assault reporting decision by considering the effect of news coverage and by using different methods of inference to previous papers.

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Advisor: Professor Patrick Bayer | JEL Codes: D91, J16, K42, L86, Z13

Increased Foreign Revenue Shares in the United States Film Industry: 2000 – 2014

By Victoria Lim

The American film industry, which has historically been driven by the domestic market, now receives an increasing proportion of its revenue from abroad (foreign share)To determine the factors influencing this trend, this paper analyzed data from 11 countries of 2,337 American films released during 2000  2014Both film and country attributes were analyzed to determine each attribute’s effect on foreign share, whether its effect size has changed over time and whether each attribute has changed in frequency amongst films released. The results identified six attributes, star actors, sequels, releases in top markets, release time lag, GDP growth and a match in languagethat contributed to the increase in foreign share over this period

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Advisor: James Roberts, Kent Kimbrough | JEL Codes: F40, L82, Z11 | Tagged: Foreign Share, International Box Office Revenue, Motion Picture Industry

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 Paris and the other from Christie’s sales in London. We find that the Paris data support the claim, while the Christie’s data seem to refute the optimal strategy. We also find a rationale for bidders in the Christie’s auctions to alter their strategies, accounting for the discrepancy.

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Advisor: Neil De Marchi | JEL Codes: D4, Z11 | Tagged: Auctions, English Auction, Lot Ordering, Optimal Auction Strategy, Sequential Auctions

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