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Archive for the ‘Research Papers in Economics’ Category

Culture: Persistence and Evolution

April 16, 2014 Comments off

Culture: Persistence and Evolution (PDF)
Source: Research Papers in Economics

This paper presents evidence on the speed of evolution (or lack thereof) of a wide range of values and beliefs of different generations of European immigrants to the US. The main result is that persistence differs greatly across cultural attitudes. Some, for instance deep personal religious values, some family and moral values, and political orientation are very persistent. Other, such as attitudes toward cooperation, redistribution, effort, children independence, premarital sex, and even the frequency of religious practice or the intensity of association with one’s religion, converge rather quickly. Moreover, the results obtained studying higher generation immigrants differ greatly from those obtained limiting the analysis to the second generation, and imply lesser degree of persistence. Finally, we show that persistence is “culture specific” in the sense that the country from which one’s ancestors came matters for the pattern of generational convergence.

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Software Piracy: A Critical Survey of the Theoretical and Empirical Literature

March 19, 2014 Comments off

Software Piracy: A Critical Survey of the Theoretical and Empirical Literature (PDF)
Source: Research Papers in Economics

As devices that used software became available to the masses the problem of software piracy arose. Recent theoretical works modeled the software piracy phenomenon; others tried to empirically explain the determinants that can explain this phenomenon. Empirical literature in the latter case is still in its infancy. This chapter reviews the theoretical literature focusing on three major models, those that deal with diffusion models, network externalities and with game theory. It also presents the empirical literature in which we identify eight stylized results that reflect key variables across five macroeconomic dimensions that explain software piracy: Economic, Cultural, Technological, Legal and Educational dimensions.

Cross-Checking the Media

December 10, 2013 Comments off

Cross-Checking the Media
Source: Research Papers in Economics

A characteristic of the news market is that consumers often cross-check information, i.e. observe several news outlets. At the same time, data on political media suggest that more partisan consumers are more likely to cross-check. We explore these phenomena by building a model of horizontal competition in newspaper endorsements. Without cross-checking, outlets are unbiased and minimally differentiated. When cross-checking is allowed, we show that cross-checkers are indeed more partisan than those who only acquire one report. Furthermore, cross-checking induces outlets to differentiate, and the degree of differentiation is increasing in the dispersion of consumer beliefs. Differentiation is detrimental to consumer welfare, and a single monopoly outlet may provide higher consumer welfare than a competitive duopoly.

On the dynamic of franchise (re)location in the North-American sport leagues

November 5, 2013 Comments off

On the dynamic of franchise (re)location in the North-American sport leagues
Source: Research Papers in Economics

As the cost of tax-dollar paid stadia rises and the talks of relocations in the main North-American pro leagues increase, a multi-field analysis on the different mechanisms that decides team relocation seems necessary. This paper reviews the different mechanisms participating team location and finally offer a new angle of analysis on the actual equilibrium and demonstrates its dynamic nature.

A new financial metric for the art market

October 7, 2013 Comments off

A new financial metric for the art market
Source: Research Papers in Economics

This paper introduces a new financial metric for the art market. The metric, which we call Artistic Power Value (APV), is based on the price per unit of area (dollars per square centimeter) and is applicable to two-dimensional art objects such as paintings. In addition to its intuitive appeal and ease of computation, this metric has several advantages from the investor’s viewpoint. For example, it makes it easy to: (i) estimate price ranges for different artists; (ii) perform comparisons among them; (iii) follow the evolution of the artists’ creativity cycle overtime; and (iiii) compare, for a single artist, paintings with different subjects or different geometric properties. Additionally, the APV facilitates the process of estimating total returns. Finally, due to its transparency, the APV can be used to design derivatives-like instruments that can appeal to both, investors and speculators. Several examples validate this metric and demonstrate its usefulness.

International hostility and aggressiveness on the soccer pitch: Evidence from European Championships and World Cups for the period 2000-2012

October 4, 2013 Comments off

International hostility and aggressiveness on the soccer pitch: Evidence from European Championships and World Cups for the period 2000-2012
Source: Research Papers in Economics

Some Researchers consider soccer matches as the stylization of a war in other battlefields. Such approach was largely used to interpret the violent phenomena related to the soccer environment, while less attention has been paid to the «potential» role of political and economic interactions between countries in determining the aggressive attitude of players on the pitch. In our paper we empirically investigate if and how political hostility among countries reverberates on a soccer pitch by influencing players’ aggressiveness. The analysis focuses on official matches played by national teams in the final phases of the European and World Cup tournaments since 2000. We estimate a Negative Binomial regression including both political and sport variables, and we find that (a) commercial hostility; (b) the level of diplomatic relationships, (c) power asymmetry and (d) education gap between countries are positively and significantly associated with aggressiveness of the players on the pitch, approximated by the number of yellow and red cards. That is, briefly stated, international hostility reverberates into the pitch. Moreover, sport covariates present the expected signs, namely results show that the closeness of the teams, their ranking and the stage of the game (knockout stages with respect to the group phases) are also crucial in determining the cautions.

Open Access, Social Norms & Publication Choice

September 26, 2013 Comments off

Open Access, Social Norms & Publication Choice (PDF)
Source: Research Papers in Economics

The aim of this paper is to shed light on scholarly communication and its current trajectories by examining academics’ perception of Open Access, while also providing a reference case for studying social norm change. In this respect, the issue of publication choice and the role of Open Access journals casts light on the changes affecting the scientific community and its institutional arrangements for validating and circulating new research. The empirical investigation conducted also offers a useful vantage point for gauging the importance of localised social norms in guiding and constraining behaviour.

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