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Description
With the National Labor Relations Board's decision to allow Northwestern University football players to unionize, the landscape of college athletics is changing very quickly. Due to their recognition as employees of the University, football players at Northwestern will receive many benefits that they would not have received before. They will be able to bargain for the things they want including: scholarships that cover the cost of attendance, increased medical coverage, measures to increase graduation rates, a safer game, and due process with the NCAA. However, this will come at a cost to the general welfare. Subsidies to athletic departments will continue to rise on college campuses due to the increasing costs of athletics and that cost will be incurred regressively on students. With an outcry from students, universities may be forced to stop the increase in subsidies, which may force some athletic departments to cut certain sports according to some parameters set by government legislation and the NCAA.
ContributorsGewecke, Alexander Leland (Author) / Marburger, Daniel (Thesis director) / Dillon, Eleanor (Committee member) / Barrett, The Honors College (Contributor) / Department of Economics (Contributor) / W. P. Carey School of Business (Contributor)
Created2015-05
Description
Economists, political philosophers, and others have often characterized social preferences regarding inequality by imagining a hypothetical choice of distributions behind "a veil of ignorance". Recent behavioral economics work has shown that subjects care about equality of outcomes, and are willing to sacrifice, in experimental contexts, some amount of personal gain in order to achieve greater equality. We review some of this literature and then conduct an experiment of our own, comparing subjects' choices in two risky situations, one being a choice for a purely individualized lottery for themselves, and the other a choice among possible distributions to members of a randomly selected group. We find that choosing in the group situation makes subjects significantly more risk averse than when choosing an individual lottery. This supports the hypothesis that an additional preference for equality exists alongside ordinary risk aversion, and that in a hypothetical "veil of ignorance" scenario, such preferences may make subjects significantly more averse to unequal distributions of rewards than can be explained by risk aversion alone.
ContributorsTheisen, Alexander Scott (Co-author) / McMullin, Caitlin (Co-author) / Li, Marilyn (Co-author) / DeSerpa, Allan (Thesis director) / Schlee, Edward (Committee member) / Baldwin, Marjorie (Committee member) / Barrett, The Honors College (Contributor) / Department of Economics (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor)
Created2014-05
Description
The European Union has increasingly integrated since World War II to the point where most European countries now share a currency and have freedom of movement for travelers and workers. This has created asymmetries in the European economy because of reports and studies that have found a low labor mobility, which is a requirement of a common currency area. This paper uses an econometric model and the theory of optimum currency areas to look at whether what language grouping a migrant is from affects his or her migration decision. The paper also looks at what an inflexible labor market may mean for European Central Bank policymakers and the macroeconomic outlook of the eurozone.
ContributorsHagler, Andrew Jon (Author) / Mendez, Jose (Thesis director) / Hill, John (Committee member) / Barrett, The Honors College (Contributor) / Economics Program in CLAS (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor)
Created2014-05
Description
The aim of this thesis is to explore the relationship between architecture and history in Virginia from 1607 to the eve of the American Revolution to create a complete historical narrative. The interdependency of history and architecture creates culturally important pieces and projects the colonist's need to connect to the past as well as their innovations in their own cultural exploration. The thesis examines the living conditions of the colonists that formed Jamestown, and describes the architectural achievements and the historical events that were taking place at the time. After Jamestown, the paper moves on to the innovations of early Virginian architecture from Colonial architecture to Georgian architecture found in Williamsburg. Conclusively, the thesis presents a historical narrative on how architecture displays a collection of ideals from the Virginian colonists at the time. The external display of architecture parallels the events as well as the economic conditions of Virginia, creating a social dialogue between the gentry and the common class in the colony of Virginia.
ContributorsChang, Hosu (Author) / Gray, Susan (Thesis director) / O'Donnell, Catherine (Committee member) / Barrett, The Honors College (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor) / School of Social Transformation (Contributor)
Created2015-05
Description
Today, statistical analysis can be used for a variety of different reasons. In sports, more particularly baseball, there is an increasing necessity to have better up to date analysis of players and their performance as they attempt to make it to the Major League. Athletes are constantly moving around within one or more organizations. Since they are moving around so often, clubs spend an ample amount of time determining whether or not it is for their benefit and betterment of the organization as a whole. The objective of this thesis is to utilize previous baseball statistics in StataSE to determine performance levels of players who played at the major league level. From these, regression-based performance models will be used to predict whether or not Major League Baseball organizations effectively and efficiently move players around from their farm systems to the big leagues. From this, teams will be able to see whether or not they in fact make the right decisions during the season. Several tasks were accomplished to achieve this outcome: 1. First, data was obtained from the Baseball-Reference statistics database and sorted in google sheets in order for me to perform analysis anywhere. 2. Next, all 1,354 players that entered the major leagues in the year 2016, were assessed as to whether or not they started in a given league and stayed, got promoted from the minor leagues to the majors, or demoted from the majors to the minor leagues. 3. Based off of prior baseball knowledge and offensive performance quantifications only, players' abilities were evaluated and only those who were called up or sent down were included in the overall analysis. 4. The statistical analysis software application, StataSE, was used to create a further analyze if any of the four major regression assumptions were violated. It was determined that logistic regression models would produce better results than that of a standard, linear OLS model. After testing multiple models, and slightly refining my hypothesis, the adjustments made developed a more accurate analysis of whether organizations were making an efficient move sending a player down to promote another player up. After producing the model, I decided to investigate at what level a player was deemed to be no longer able to perform at a Major League Baseball level.
ContributorsHayes, Andrew Joseph (Author) / Goegan, Brian (Thesis director) / Marburger, Daniel (Committee member) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
The NBA operates under a unique system with both forms of the salary cap. The league has a team salary cap that sets a limit that teams can spend on their entire roster. The NBA has a soft cap and a luxury tax system, meaning if teams spend over a determined amount, they are taxed for the salaries in excess. The league also has a player salary cap. The 1999 NBA collective bargaining agreement first introduced the individual player salary cap in the league. This cap sets a limit on what the best players can earn, otherwise known as the maximum contract. In an economic system with a soft team cap, the introduction of the player salary cap has important implications. The stated outcome of such a salary cap is to improve competitive balance and better distribute star players throughout the league. This study evaluated the 1990-2015 regular seasons to measure the impact of the player salary cap on competitive balance, the distribution of team payrolls, and the dispersion of star players. In accordance with the Rottenberg's invariance hypothesis, the player salary cap has hurt the players and benefited the owners by redistributing income from one party to the other, without impacting the distribution of talent in the league. The rule change has not affected competitive balance, while team payrolls have converged and star players have become more dispersed throughout the league. These changes hurt the league overall, preventing the maximization of revenues. Despite this inefficiency, the chance of the league moving to eliminate the player salary cap is low.
ContributorsWelu, Brian Andrew (Author) / Marburger, Daniel (Thesis director) / Goegan, Brian (Committee member) / Sandra Day O'Connor College of Law (Contributor) / Department of Economics (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor) / W. P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
An integral part of the financial system, the evolutionary history of commercial banking remains largely uncharted and is often grouped into banking development as a whole. Previous research on banking has primarily relied on economic analysis or has placed banking in a larger social context. This work aims to bridge the two by classifying commercial banking growth into four cycles of expansion, application, and decline. Drawing from historical accounts and growth cycle theory, this framework for classification is developed to better synthesize its progress and the fundamental innovations that changed the banking system. Beginning in 1150 with the foundation for deposit banking, the next three cycles of 1500, 1750, and 1933 mark periods of great innovation and a push toward the regulatory environment, technology, and globalization that define modern commercial banking. Paralleling the economic, financial, and political development of the Western World, its evolution is guided by three themes: the increased accumulation and flow of capital, regulation, and market expansion.
ContributorsSinger, Andrea Cayli (Author) / Licon, Wendell (Thesis director) / Hoffmeister, Ron (Committee member) / Brooks, Dan (Committee member) / Barrett, The Honors College (Contributor) / School of Historical, Philosophical and Religious Studies (Contributor) / W. P. Carey School of Business (Contributor) / Department of Finance (Contributor)
Created2013-05
Description
We examine the bias resulting from temporal and spatial aggregation of weather variables in environmental economics. In order to include temporally and/or spatially continuous environmental variables (such as temperature and precipitation), many studies discritize them. The finer the scale of discrization chosen, the more difficult it can be to obtain a complete and reliable data set. Studies performed at very fine scales often find tighter and more dramatic relationships between variables such as temperature and income per capita. We examine this question by repeating the same empirical study at various temporal and spatial scales and comparing the resulting parameter estimates.
ContributorsOber-Reynolds, Daniel Steven (Author) / Hanemann, Michael W. (Thesis director) / Kuminoff, Nicolai V. (Committee member) / School of Historical, Philosophical and Religious Studies (Contributor) / Economics Program in CLAS (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05