The Greater Everglades system imparts vital ecosystem services (ES) to South Florida residents including high quality drinking water supplies and a habitat for threatened and endangered species. As a result of the altered Everglades system and regional dynamics, restoration may either improve the provision of these services or impose a tradeoff between enhanced environmental goods and services and competing societal demands. The current study aims at understanding public preferences for restoration and generating willingness to pay (WTP) values for restored ES through the implementation of a discrete choice experiment. A previous study (Milon et al., 1999) generated WTP values amongst Floridians of up to $3.42 -$4.07 billion for full restoration over a 10-year period. We have collected data from 2,905 respondents taken from two samples who participated in an online survey designed to elicit the WTP values for selected ecological and social attributes included in the earlier study (Milon et al. 1999). We estimate that the Florida general public is willing to pay up to $854.1- $954.1 million over 10 years to avoid restrictions on their water usage and up to $90.8- $183.7 million over 10 years to restore the hydrological flow within the Water Conservation Area.

This thesis explores how the sharing economy in America combines Collaborative Consumption ideas and social values with capitalist business models to make a profit. I discuss definitions of terms associated with the sharing economy, economic anthropological theories and case studies, as well as company and consumer motivations in sharing economy companies.

Is avocado toast the reason that I am still living with my parents? In other words, does the consumption of avocado toast, or more specifically eating out in general, have any impact on one’s ability to be a homeowner. In May of 2017, an Australian real estate developer by the name of Tim Gurner was asked to provide advice to young people who could not afford to purchase a home. He responded by saying, “when I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” (Victor, 2017). While the claim may appear to be laughable at first glance, this is not the first time that statements such as this have been made. The United States Census Bureau tells us that annual homeownership rates for individuals under the age of 35 has been on the steady decline. Additionally, per Goldman Sachs, it is known that the percentage of adults age 18-31 that were married and living in their own homes has decreased from 56% in 1968 to 23% in 2012. This paper assesses and compares the spending habits of different generations, working to discern if there are notable differences particularly between Millennials and other generations. Data sets from the Consumer Expenditure Survey (CEX) and Zillow between the years 2000-2013 were examined. Although there is not data on avocado toast specifically, it is possible to broaden the hypothesis to examine the expenditures on the consumption of meals prepared away from home. For the purpose of this study, I take Tim Gurner’s statement and apply it more broadly to the idea of spending money on the experience of eating out. The results show that the consumption of avocado toast, defined as money spent on meals prepared away from home, does not have an impact on whether an individual owns a home, nor is it an indicator as to whether they will be renters or living with their parents. Rather, the results indicate that owning a home leads to consuming more avocado toast. This means that although it is commonly perceived that Millennials are consumers as opposed to savers, their inability to afford home ownership does not have any direct connection to their spending habits on avocado toast, and more broadly, eating out in general.

This paper uses empirical analysis to value of each section of the NFL Draft relative to the others in order to establish which NFL draft picks are undervalued. We crafted a new performance metric that uses the size of a given draftee’s second contract relative to his peers to evaluate his performance over the course of his previous contract. Using two OLS regressions, we predict the level of performance, given by our metric score, for each section of the draft. We then use the residuals from these regressions to investigate which sections of the draft are undervalued. The results show that mid-3rd round picks and late 5th round picks are the best value per dollar in the draft.

Most energy sources are derived from the sun, directly or indirectly. Stopping the increase of heat-trapping carbon dioxide in the atmosphere will likely require more reliance on current rather than ancient terrestrial solar input. Yet which forms of renewable energy are most appropriately used is a significant question for the twenty-first century. This dissertation concerns the potential supply of biomass energy crops as a renewable energy source in Massachusetts. Biomass represents a low-efficiency solar collector, and supplying society with an important portion of its energy from biomass would require a great deal of land. The cellulosic biomass crop evaluated in this research is switchgrass, among the most studied of possible biomass crops. The study looks at biomass energy crop potential from three perspectives. First, a biomass crop supply function is developed for switchgrass by 1) using a GIS model to estimate land availability by current land use and soil type; 2) using a crop-growth simulation model to estimate potential switchgrass yields; 3) estimating marginal production cost by land parcel; and 4) calculating a supply function from marginal production costs. Total technical potential is estimated to be about 1.3 million dry metric tons of switchgrass per year, though financial constraints would likely limit production to some portion of the estimated 125,000 metric tons per year that could be produced on existing grasslands. Next, the study examines circumstances under which landowners might opt to make land available for biomass crop production. The social challenge of minimizing biomass energy cost is described. Potential biomass crop landowner decisions are characterized in a theoretical utility maximization model, with results suggesting that non-price attributes of crop production are likely important to landowners. Finally, an empirical study using a landowner survey assesses interest in growing biomass crops, and uses contingent valuation (CV) to estimate landowner willingness to accept (WTA) land rent for biomass crops. The median estimate is $321/ha/yr, with a much-higher mean estimate of $658/ha/yr (based on a parametric estimator). While the realistic potential for biomass crops is some fraction of technically feasible potential, there are other potentially important roles for biomass crops in Massachusetts, for example in preserving unused farmland that would otherwise revert to forest.

Amidst widespread feelings that capitalism is a deeply problematic yet necessary approach to economy, Community Supported Agriculture (CSA) has emerged as both an alternative model for farming and as an increasingly visible and viable model for alternative economy. Using qualitative methods, this doctoral research explores and documents how CSA has become a productive space for economic innovation and practice that emphasizes interdependence, camaraderie and community well-being rather than hierarchical control and private gain. This study also examines how the many participants of CSA have built an identity for CSA--branding it via autonomous and collective efforts. This has resulted in CSA being branded as an ethical and ecological farm/food system and has also resulted in CSA being celebrated as a grassroots anti-brand owned and controlled by no-one. As CSA has built its identity, it has engaged a number of narratives and myths. Many of these myths such as the ability for CSA to educate about and build enthusiasm for small scale organic farming have been solidly validated over CSA's history. Other myths, such as the idea that CSA inherently provides financial security for CSA farmers are more troubling and yet to be fully realized. Finally, this study also makes an overview of CSA offshoots, a variety of Community Supported Enterprises (CSE) that have grown out of and been inspired by CSA. These enterprises represent a new wave of opportunities and challenges to building economic alternatives based on the ethical principles expressed by CSA.

Since the federal funds rate reached the zero lower bound in late 2008, economists have been struggling to adapt their models to a long-term zero rate. Wu and Xia built upon previous research by Fischer Black to create a model for how the federal funds rate behaves during the ZLB period. In their model, the rate actually dips into the negative digits, which the actual federal funds rate does not do. The logic behind the model is that a negative shadow rate is a much better indicator of true economic conditions while the current zero rate merely masks the actual economic reality. It is also easier to use the shadow rate for trend analysis purposes, since the shadow rate is flexible and changes while the federal funds rate remains artificially fixed at zero. Thus, this paper seeks to provide a comparison between the Shadow Rate, as defined by Wu and Xia, and how three key banking variables (leverage, profitability, and non-performing loans to total loans) react in response to the shadow rate, along with three control variables: real GDP growth, inflation, and the current account to GDP ratio. Regression will also be used to determine how three key borrower variables (S&P 500 Index, Credibility Consumer Distress Index, and the ratio of nonfinancial corporate business debt securities to total assets) interact with the shadow rate and the three control variables previously mentioned.

In this study I examine foul calls by NBA referees alongside the difference in aggressiveness of twelve NBA basketball teams as they compete for the Championship Title. I aim to identify referee biases that increase the likelihood of the NBA Finals ending in a later game due to league revenue incentives. My data consists of 91 individual NBA Finals games played between the 2001 and 2016 NBA Finals. After controlling for changes in play as well as the difference in aggressiveness, I find that NBA referee’s foul calls are more dependent on a call on the opposing team in situations with a larger series score spread. Additionally, I identify a consistent officiating bias towards the home team. My results imply an effort by the NBA to increase the probability of the series ending in a later game, possibly motivated by increased revenues for the league and all parties involved.

Shanghai’s residential property prices have been consistently rising for the past decade. Both the municipal and national governments have announced a series of alternately restrictive and encouraging house purchasing policies that aimed at adjusting housing prices. This paper studies all of the policies announced from January 2011 to October 2016. Using residential house price data of houses of different sizes and in different locations, this paper shows that two out of the six restrictive policy events achieved their intended negative impact on housing prices, while two out of four encouraging policy events delivered their intended positive impact. When aggregated, encouraging policies had a significant impact and restrictive policies did not.

Many regions of the world would like to replicate the financial and monetary integration of the European Monetary Union (EMU). Member countries of the Association of Southeast Asian Nations (ASEAN) have shown an interest in such an arrangement. ASEAN is a political, cultural, and economic association that includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Many of these nations are experiencing rapid economic development while others are still relatively poor and under developed. As such, they appear to be an unlikely group for currency unification. Older studies suggest that multiple currency union groupings may be possible in the short run that could be unified into a whole at an unspecified time in the future. The issue has been studied for some time and appeared defunct with the onset of the Asian Financial Crisis. More than a decade has passed and another more global financial crisis has ensued leaving many Asian countries in better shape than their highly developed trading partners in the west. This leads to the need for further examination of the possible unification of some or all ASEAN members into a Regional Currency Arrangement. This dissertation evaluates the readiness of the ASEAN nations for monetary union using data from the post Asian Financial Crisis period. Results of a formal G-PPP test show the area is an optimum currency area. Analysis of other criteria shows incredible diversity across the countries in the region that would make unification a challenge. Coordination of monetary policy would be most difficult given the variety of inflation rates and differences in depth of financial system development as explored in chapter 2. Trade has increased in the region leading to better linkages among economies but the data shows that reaching full integration of all countries by the 2020 deadline without disruptions in some economies may still be difficult.