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One decision procedure dominates a given one if it performs well on the entire class of problems the given decision procedure performs well on, and then goes on to perform well on other problems that the given decision procedure does badly on. Performing well will be defined as generating higher expected utility before entering a problem. In this paper it will be argued that the timeless decision procedure dominates the causal
and evidential decision procedures. It will also be argued in turn that the updateless decision procedure dominates the timeless decision procedure. The difficulties of formalizing a modern variant of the ”smoking gene” problem will then be briefly examined.
and evidential decision procedures. It will also be argued in turn that the updateless decision procedure dominates the timeless decision procedure. The difficulties of formalizing a modern variant of the ”smoking gene” problem will then be briefly examined.
ContributorsHintze, Daniel Edward (Author) / Armendt, Brad (Thesis director) / Schlee, Edward (Committee member) / DeSerpa, Allan (Committee member) / Barrett, The Honors College (Contributor) / Economics Program in CLAS (Contributor)
Created2014-05
Description
The purpose of this thesis is to examine the current atmosphere of genetic patent law and use economic theory to construct models which describe the consequences of the legal code. I intend to analyze the four specific cases of Diamond v. Chakrabarty, Association for Molecular Pathology v. Myriad Genetics, the Alzheimer's Institute of America v. Jackson Laboratory, and the harm caused by PGx Health's monopoly over the LQTS gene.
ContributorsVolz, Caleb Richard (Author) / DeSerpa, Allan (Thesis director) / Silverman, Daniel (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Chemistry and Biochemistry (Contributor) / Economics Program in CLAS (Contributor)
Created2014-05
Description
This thesis discusses methodology used to assess the financial health of Company X's suppliers. Each suppliers' industry characteristics and key risk exposures are identified using the Porter's Five Forces. Along with qualitative analysis, financial data is analyzed with the Altman Z-Scores, forecasted financial statements, and comparative ratio analysis. The focus is narrowed down throughout the process to enable further investigation on Supplier E and the semiconductor-memory industry.The procedure and results of the analysis lead to the final recommendation to Company X on how it should assess the financial health of suppliers in the semiconductor-memory industry, and possibly other industries, using our methodology.
ContributorsBanda, Janelle (Co-author) / McDermott, Eric (Co-author) / Park, Hye Jun (Co-author) / Corral, Esteban (Co-author) / Hertzel, Michael (Thesis director) / Simonson, Mark (Committee member) / Schulz, Matthew (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / School of Mathematical and Natural Sciences (Contributor) / School of Accountancy (Contributor) / Economics Program in CLAS (Contributor)
Created2014-05
Description
Evolutionary theory predicts that animal behavior is generally governed by decision rules (heuristics) which adhere to ecological rationality: the tendency to make decisions that maximize fitness in most situations the animal encounters. However, the particular heuristics used by ant colonies of the genus Temnothorax and their propensity towards ecological rationality are up for debate. These ants are adept at choosing a nest site, making a collective decision based on complex interactions between the many individual choices made by workers. Colonies will migrate between nests either upon the destruction of their current home or the discovery of a sufficiently superior nest. This study offers a descriptive analysis of the heuristics potentially used in nest-site decision-making. Colonies were offered a choice of nests characterized by the Ebbinghaus Illusion: a perceptual illusion which effectively causes the viewer to perceive a circle as larger when it is surrounded by small circles than when that same circle is surrounded by large circles. Colonies were separated into two conditions: in one, they were given the option to move to a high-quality nest surrounded by poor-quality nests, and in the other they were given the option to move to a high-quality nest surrounded by medium-quality nests. The colonies in the poor condition were found to be more likely to move to the good nest than were colonies in the medium condition at a statistically significant level. That is, they responded to the Ebbinghaus Effect in the way that is normally expected. This result was discussed in terms of its implications for the ecological rationality of the nest-site choice behavior of these ants.
ContributorsTalken, Lucas Warren (Author) / Pratt, Stephen (Thesis director) / Sasaki, Takao (Committee member) / Liebig, Juergen (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Department of Psychology (Contributor) / Economics Program in CLAS (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
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 situation in the Euro-Zone is fluctuating daily with various efforts to curb the contagion of certain Euro-Zone member states. In the effort to focus on the greater macroeconomic and social impact of the Euro-Zone, this paper concentrates on the history of the Euro-Zone, the causes of the crisis, outlines potential solutions, discusses individual perspectives on the issue, and describes a prediction for the future of the Euro-Zone.
ContributorsTom, Bryan (Co-author) / Smith, Kelley (Co-author) / Mendez, Jose (Thesis director) / Datta, Manjira (Committee member) / Roberts, Nancy (Committee member) / Barrett, The Honors College (Contributor) / School of International Letters and Cultures (Contributor) / Department of Finance (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor) / W. P. Carey School of Business (Contributor)
Created2013-05
Description
The US steel industry experienced a great decline between 1950-1985. Influenced by several government policies, the industry was first cartelized during the great depression and then subjected to an extremely powerful organized labor force. Due to high demand between and during WWII and the Korean War, the industry expanded capacity using existing technologies. Simultaneously, organized labor was able to secure increased wages and large severance costs for firms that decided to shutdown existing steel mills. In the post war years this prevented firms from innovating through investing in newer, more efficient, technologies. Eventually US steel firms had no advantage against foreign producers who could produce steel cheaper and more efficiently.
ContributorsCole, Andrew Arthur (Author) / Lagakos, David (Thesis director) / DeSerpa, Allan (Committee member) / Dillon, Eleanor (Committee member) / Barrett, The Honors College (Contributor) / Economics Program in CLAS (Contributor)
Created2013-05
Description
This paper explores policies for the management of oil wealth in Norway, Mexico, and Russia, and applies them to the situation in Kazakhstan to create policy guidelines to improve the management of oil wealth in Kazakhstan. Ultimately the paper recommends that Kazakhstan transfer oil wealth to the oil stabilization fund directly, that it increase the cap on annual transfers from the fund to the budget to 11 billion dollars, and that it create strict policies for the promotion of growth.
ContributorsHoyt, Christian Thomas (Co-author) / McCarty, Mark (Co-author) / Mendez, Jose (Thesis director) / Schoellman, Todd (Committee member) / Moldabekova, Saule (Committee member) / Barrett, The Honors College (Contributor) / School of International Letters and Cultures (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor)
Created2013-05
Description
This paper examines the Syrian Civil War using seven different civil war settlement theories in order to assess the likelihood of a negotiated settlement ending the conflict. The costs of war, balance of power, domestic political institutions, ethnic identity, divisibility of stakes, veto player, and credible commitment theories were used in a multi-perspective analysis of the Syrian Civil War and the possibility of a peace settlement. It was found that all of the theories except for costs of war and balance of power predict that a negotiated settlement is unlikely to resolve the conflict. Although the Syrian government and the Syrian National Coalition are currently engaged in diplomatic negotiations through the Geneva II conference, both sides are unwilling to compromise on the underlying grievances driving the conflict. This paper ultimately highlights some of the problems inhibiting a negotiated settlement in the Syrian Civil War. These obstacles include: rival ethno-religious identities of combatants, lack of democratic institutions in Syria, indivisibility of stakes in which combatants are fighting for, number of veto player combatant groups active in Syria, and the lack of a credible third party to monitor and enforce a peace settlement.
ContributorsRidout, Scott Jeffries (Author) / Grossman, Gary (Thesis director) / Siroky, David (Committee member) / Barrett, The Honors College (Contributor) / Economics Program in CLAS (Contributor) / School of Politics and Global Studies (Contributor)
Created2014-05