Persistent Link:
http://hdl.handle.net/10150/195608
Title:
Essays in Microeconomics
Author:
Davies, Tim
Issue Date:
2007
Publisher:
The University of Arizona.
Rights:
Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Abstract:
This dissertation consists of three essays in applied microeconomics. Each essay explores a different issue of economic interest.The essay in Chapter 2 describes an experiment designed to investigate if using assets with an intrinsic value that increases over time leads to persistent undervaluation in laboratory asset trading markets. This question has not previously been investigated by researchers. Results from ten sessions are reported. Three used assets with an intrinsic value that decreased over time. The results from these sessions are consistent with the findings by prior researchers who frequently observed price bubbles in laboratory asset trading experiments. The remaining seven sessions used assets with an intrinsic value that increased over time. In all these sessions trading generally occurred at prices below the asset's intrinsic value.In Chapter 3, in an essay co-authored with Adrian Stoian, we study road running races. Tournaments, where ordinal position determines rewards, are an important component of our economy. By studying sporting tournaments, we hope to shed light on the nature of other economically significant tournaments where data may be less readily available. We separately quantify the sorting and incentive effects of tournament prizes by employing a novel two-part model which we apply to a unique data set of road running race results. We present a counterfactual example of how a hypothetical change in prizes would be predicted to change race participation and speed.In Chapter 4, in an essay co-authored with Jedidiah Brewer and Joseph Cullen, we examine the combined effects of the locations and the brands of retail gasoline outlets in Tucson, Arizona on market prices. We apply an innovative approach to model the impact of competing gas stations that avoids limiting analysis to predetermined nearby locations. We show that increased brand diversity is associated with higher prices and that gas stations affiliated with mass-merchandisers and grocery stores reduce market prices by a larger amount and over a greater distance than other types of gas stations. We demonstrate that our conclusions are not sensitive to the choice of distance metric.
Type:
text; Electronic Dissertation
Degree Name:
PhD
Degree Level:
doctoral
Degree Program:
Economics; Graduate College
Degree Grantor:
University of Arizona
Advisor:
Reiley, David H
Committee Chair:
Reiley, David H

Full metadata record

DC FieldValue Language
dc.language.isoENen_US
dc.titleEssays in Microeconomicsen_US
dc.creatorDavies, Timen_US
dc.contributor.authorDavies, Timen_US
dc.date.issued2007en_US
dc.publisherThe University of Arizona.en_US
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.en_US
dc.description.abstractThis dissertation consists of three essays in applied microeconomics. Each essay explores a different issue of economic interest.The essay in Chapter 2 describes an experiment designed to investigate if using assets with an intrinsic value that increases over time leads to persistent undervaluation in laboratory asset trading markets. This question has not previously been investigated by researchers. Results from ten sessions are reported. Three used assets with an intrinsic value that decreased over time. The results from these sessions are consistent with the findings by prior researchers who frequently observed price bubbles in laboratory asset trading experiments. The remaining seven sessions used assets with an intrinsic value that increased over time. In all these sessions trading generally occurred at prices below the asset's intrinsic value.In Chapter 3, in an essay co-authored with Adrian Stoian, we study road running races. Tournaments, where ordinal position determines rewards, are an important component of our economy. By studying sporting tournaments, we hope to shed light on the nature of other economically significant tournaments where data may be less readily available. We separately quantify the sorting and incentive effects of tournament prizes by employing a novel two-part model which we apply to a unique data set of road running race results. We present a counterfactual example of how a hypothetical change in prizes would be predicted to change race participation and speed.In Chapter 4, in an essay co-authored with Jedidiah Brewer and Joseph Cullen, we examine the combined effects of the locations and the brands of retail gasoline outlets in Tucson, Arizona on market prices. We apply an innovative approach to model the impact of competing gas stations that avoids limiting analysis to predetermined nearby locations. We show that increased brand diversity is associated with higher prices and that gas stations affiliated with mass-merchandisers and grocery stores reduce market prices by a larger amount and over a greater distance than other types of gas stations. We demonstrate that our conclusions are not sensitive to the choice of distance metric.en_US
dc.typetexten_US
dc.typeElectronic Dissertationen_US
thesis.degree.namePhDen_US
thesis.degree.leveldoctoralen_US
thesis.degree.disciplineEconomicsen_US
thesis.degree.disciplineGraduate Collegeen_US
thesis.degree.grantorUniversity of Arizonaen_US
dc.contributor.advisorReiley, David Hen_US
dc.contributor.chairReiley, David Hen_US
dc.contributor.committeememberCrawford, Gregory S.en_US
dc.contributor.committeememberDufwenberg, Martinen_US
dc.contributor.committeememberFishback, Price V.en_US
dc.contributor.committeememberHirano, Keisukeen_US
dc.identifier.proquest2014en_US
dc.identifier.oclc659746607en_US
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