Thesis advisor: M. Utku Ünver / Thesis advisor: M. Bumin Yenmez / This thesis is a collection of three essays in market design concerning designs of matching markets, affirmative action schemes, and COVID-19 testing policies. In Chapter 1, we explore the possibility of designing matching mechanisms that can accommodate non-standard choice behavior. In the standard model of matching markets, preferences over potential assignments encode participants' choice behavior. Our contribution to this literature is introducing behavioral participants to matching theory's setup. We pin down the necessary and sufficient conditions on participants' choice behavior for the existence of stable and incentive compatible matching mechanisms. Our results imply that well-functioning matching markets can be designed to adequately accommodate a plethora of non-standard (and standard) choice behaviors. We illustrate the applicability of our results by demonstrating that a simple modification in a commonly used matching mechanism enables it to accommodate non-standard choice behavior. In Chapter 2, we show that commonly used methods in reserving positions for beneficiaries of affirmative action are often inadequate in settings where affirmative action policies apply at two levels simultaneously, for instance, at university and itsdepartments. We present a comprehensive evaluation of existing procedures and formally and empirically document their shortcomings. We propose a new solution with appealing theoretical properties and quantify the benefits of adopting it using recruitment advertisement data from India. Our theoretical analysis hints at new possibilities for future work in the literature on the theory of apportionment (of parliamentary seats). Chapter 3 delves into the designs of the commonly used and advocated COVID-19 testing policies to resolve a conflict between their allocative efficiency and the ability to identify the infection rates. We present a novel comparison of various COVID-19 testing policies that allows us to pin down ordinally efficient testing policies that generate reliable estimates of infection rates while prioritizing testing of persons suspected of having the disease. / Thesis (PhD) — Boston College, 2022. / Submitted to: Boston College. Graduate School of Arts and Sciences. / Discipline: Economics.

This thesis studies the effects of local environments on perceptions. The last chapter examines older workers' responses to unemployment benefits cuts. In the first essay, I study the effects of neighborhoods on perceived inequality and preferences for redistribution in the context of Barcelona. I first construct a novel measure of inequality based on the geospatial distribution of housing. I then elicit inequality perceptions and preferences for redistribution from an original large-scale survey. I link these measures to respondents' specific local environments using exact addresses. I identify the causal effects of neighborhoods using two different approaches. The first is an outside-the-survey quasi-experiment that exploits within-neighborhood variation in respondents' recent exposure to new apartment buildings. The second is a within-survey experiment inducing variation in respondents' information set about inequality across neighborhoods. Local environments significantly influence inequality perceptions but only mildly affect demand for redistribution. In the second essay, I study the effects of neighborhoods on perceived immigration and preferences for redistribution. I construct flexible definitions of local neighborhoods by aggregating census tracts and measure immigration at this fine geographic level. I elicit immigration perceptions and preferences for redistribution from my original survey. Most respondents significantly overestimate the number of immigrants in the country, but those residing in neighborhoods with more immigrants are more likely to do so. Misperceptions negatively correlate with demand for redistribution and are partly explained by the local immigrant composition. They are exacerbated when more African or Asian immigrants reside in the local area. In the third essay, I causally estimate the effects of pro-cyclical unemployment-assistance (UA) reductions on job search behavior and re-employment outcomes using reform-induced changes in UA durations for older workers in Spain. Benefit reductions are effective in bringing workers back to work and reduce non-employment duration, but also induce displacements out of the labor force and strong substitution patterns towards less generous UA programs, highlighting the social insurance role of long-term benefits during economic downturns. Despite the sharp drop in non-employment duration, I also document a significant decrease in re-employment wages, consistent with a reduction in workers' reservation wages and limited duration dependence.

Objective: Using the Social Determinants of Health as the study's theoretical underpinning, the authors examined the impact of the North Carolina Community Transformation Grant Project farmers' market initiatives on changes in awareness and use of farmers' markets, and fruit and vegetable consumption. Methods: During the farmers' market season, the researchers conducted a random digit-dial telephone survey among residents in 3 rural North Carolina counties to examine changes in farmers' market awareness, shopping, and fruit and vegetable consumption. They examined change over 1 year using t tests, chi-square tests, and propensity score matching. Results: In 1 county there were increases in farmers' market shopping and fruit and vegetable consumption, and in 1 county there were decreases in farmers' market shopping and fruit and vegetable consumption. Conclusions and Implications: The impact of farmers' market initiatives may be affected by county-specific socioeconomic contexts.

Objective Because farmers' markets include a variety of fruits and vegetables, shopping at farmers' markets would likely improve diet quality among low-income consumers, as well as promote sustainable direct farm-to-consumer business models. However, not much is known about how to promote farmers' market shopping among low-income consumers. Therefore, the purpose of the present paper was to examine barriers to and facilitators of shopping at farmers' markets and associations between shopping at farmers' markets and self-reported dietary behaviours (fruit and vegetable, sugar-sweetened beverage and fast-food consumption) and BMI. Design Cross-sectional analyses of associations between farmers' market shopping frequency, awareness of markets, access to markets, dietary behaviours and BMI. Setting Department of Social Services, Pitt County, eastern North Carolina, USA. Subjects Between April and July 2013, Supplemental Nutrition Assistance Program (SNAP) participants (n 205) completed a quantitative survey. Results Barriers to shopping at farmers' markets included does not accept SNAP/electronic benefit transfer, out of the way and lack of transportation. Farmers' market shopping was associated with awareness of farmers' markets (estimate =0·18 (se 0·04), P<0·001). Fruit and vegetable consumption was positively associated with farmers' market shopping (estimate =1·06 (se 0·32), P=0·001). Conclusions Our study is one of the first to examine SNAP participants' farmers' market shopping, distance to farmers' markets and dietary behaviours. Barriers to shopping at farmers' markets and increasing awareness of existing markets should be addressed in future interventions to increase SNAP participants' use of farmers' markets, ultimately improving diet quality in this high-risk group.

Objective: To examine the influence of farmers' market pricing and accessibility on willingness to shop at farmers' markets, among low-income women. Design: Qualitative interviews using scenarios with quantitative assessment of willingness to shop at farmers' markets given certain pricing and accessibility scenarios. Setting: Eastern North Carolina. Participants: A total of 37 low-income women of childbearing age (18-44 years) receiving family planning services at the health department. Phenomenon of Interest: Willingness to shop at a farmers' market. Analysis: Fisher's exact test was used to examine associations between willingness to shop at farmers' markets by urban/rural residence, race, and employment status. Direct quotations relevant to participants' use of farmers' markets were extracted based on a positive deviance framework. Results: Participants were increasingly willing to shop at the farmers' market when price savings increased and when the market was incrementally closer to their residence. Willingness was highest when there was at least a 20% price savings. Participants seemed to be influenced more by a visual representation of a greater quantity of produce received with the price savings rather than a quantitative representation of the money saved by the reduced price. Conclusions and Implications: Future farmers' market interventions should take into account these consumer level preferences.

Indiana University–Purdue University Indianapolis (IUPUI) / Since the city’s founding in 1821, Indianapolis has hosted a public market, situated on Market Street, between Delaware and Alabama Streets. The City Market served as an economic engine for Indianapolis, connecting rural farmers with urban communities and providing business-venture opportunities for a growing immigrant population. This thesis examines the evolution of the City Market’s historic and cultural importance in the urban landscape of Indianapolis through three critical periods. This study, moves chronologically through the building’s historical development from inception to reinvention in the modern era. Peeling back the layers of City Market history reveals the dynamic needs of the city, a colorful reflection of urban economic life. The final chapter suggests feasible ways to incorporate this building’s robust and colorful past into the space through proposed interpretation.

Kenya has over the last few years witnessed tremendous growth as an emerging market with the GDP growing at 5% and the capital markets having a year on year growth of 19%. Despite the growth and sophistication of the financial markets, a host of hurdles have kept Kenya off the mainstream Responsible Investing agenda. This has resulted in no Socially Responsible Investment (SRI) fund assets and none of the market players being signatories to the United Nations Principles for Responsible Investing (PRI). One of the building blocks to this journey could be introducing a Sustainability Index for listed companies on the Nairobi Securities Exchange (NSE). This would form a basis for integrating Environmental, Social and Governance (ESG) aspects into the private sector and other proponents of the society, including the public sector. This research is thus aimed at linking the growing sophistication of the financial markets in Kenya with the possible creation of a Sustainability Index. In this sense, financial markets are seen to have the power to affect social, economic, and environmental outcomes in which a Sustainability Index could become a good tool in measuring such outcomes. The study adopted a qualitative research design which was used to obtain information based on the key research questions of the study. The research findings suggest that Responsible Investing (RI) is understood within the realm of business ethics and corporate governance. RI is inferred to as a manner of doing business that goes beyond short term financial returns and also takes into account the needs of other stakeholders. ESG aspects identified from the study provide for the requisite issues out of which a Sustainability Index can be developed for measuring the impact of Responsible Investing. Within the framework of a Sustainability Index, it is clear that companies will be made more accountable; redefine their corporate boundaries and through shared value, measure the social and environmental impact of their business model. However, there is still need for increased awareness on RI, stakeholder activism and an improved regulatory framework. Embedding Responsible Investing in Kenya will entail understanding the system of actors, so as to look at opportunities of Creating Shared Value whilst setting this up in the right disclosure model.

Bakgrund: En stor andel av de svenska invånarna sparar idag i fonder. De senaste åren har utbudet av fonder ökat allt mer, dels genom antalet fondbolag samt spridningen över olika marknader. Fonder allokerade mot tillväxtmarknader, Emerging Markets samt Frontier Markets, är en av de fondtyper som fått större uppmärksamhet på sistone. På grund av lägre grad av transparens från dessa marknader har investerare inte tillgång till lika mycket finansiell information från tillväxtmarknader, de ses även som mindre effektiva jämfört med de mer utvecklade marknaderna. Tillväxtmarknadsfonder tenderar även att ta ut höga avgifter för förvaltningen. Det för oss vidare till att analysera hur förvaltare av tillväxtmarknadsfonder lyckas med sina investeringar sett till den årliga avgift de tar ut för sin förvaltning. Syfte: Syftet med denna uppsats är att studera hur sambandet ser ut mellan fonders årliga avgifter och den riskjusterade avkastningen hos fonder med full allokering mot tillväxtmarknader kategoriserade inom Emerging Markets samt Frontier Markets. Metod: Genom studien har en deduktiv ansats och en kvantitativ metod tillämpats för att undersöka samband mellan flertalet variabler mot den beroende variabeln, Total Expense Ratio. Vi har hämtat in månadsdata från ett urval av 50 fonder via Thomson Reuters som vi sedan analyserat genom nyckeltal samt regressioner. Slutsats: Studiens resultat tyder på att det finns ett negativt samband mellan fondernas riskjusterade avkastning och dess årliga avgift. Vi ser att fonderna med högre avgift tenderar att resultera i en lägre riskjusterad avkastning. / Background: Today most of the swedes saves in mutual funds. The past few years we have seen an increase in the supply of mutual funds. Funds allocated to Emerging Markets and Frontier Markets has gotten more attention as well. These markets have a lower grade of transparency and has a lack of financial information compared to more developed markets. Studies has shown that they are also less efficient than the developed. Mutual funds in Emerging Markets tends to charge higher fees for their management. These factors make it interesting to analyze how the trustees of the mutual funds succeed in their investments related to the Total Expense Ratio that they charge. Purpose: The purpose of this study is to analyze the relationship between mutual funds’ Total Expense Ratio and their risk adjusted return for funds allocated to Emerging Markets and Frontier Markets. Methodology: The authors have used a deductive approach and a quantitative methodology to fulfill the aim of this study. We have gathered data by observing 50 mutual funds and retrieved the data from Thomson Reuters. We have then analyzed the data by calculating key ratios and by regression analysis. Conclusion: The results of this study show that there is a negative relationship between mutual funds’ total expense ratio and their risk adjusted return. We note that mutual funds with higher expense ratios tends to result in lower risk adjusted return.

This dissertation consists of three separate essays on Peer-to-Peer (P2P) online credit markets. The first essay presents new empirical evidence of decreases in loan demand and repayment when prices in the market are determined by competing lenders in auctions as compared to the case in which a platform directly controls all prices. The paper develops an econometric model of loan demand and repayment which is then used to predict borrower choices when they are offered prices set by lenders in a market. I find that when lenders set prices, borrowers are more likely to pick loans of shorter maturity and smaller sizes, and repay less. Aggregated at the market level, demand and repayment of credit fall by 10% and 2%, respectively. In the second paper, I quantify the effects of implementation of finer credit scoring on credit demand, defaults and repayment in the context of a large P2P online credit platform. I exploit an exogenous change in the platform's credit scoring policy where the centralized price setting rules ensure that the one-to-one relationship between credit scores and prices remains intact unlike in a traditional credit market where it is broken. The results show that a 1% increase in interest rate due to the implementation of finer credit scoring results in an average decrease of 0.29% in the requested loan amount, an average increase of 0.01 in the fraction of borrowers who default and an average increase of 0.02 in the fraction of loan repaid. These findings contribute to a better understanding of how a reduction in information asymmetry affects borrower choices in a credit market. The third paper explores the main drivers behind the geographic expansion in demand for credit from P2P online platforms. It uses data from the two largest platforms in the United States to conduct an empirical analysis. By exploiting heterogeneity in local credit markets before the entry of P2P online platforms, the paper estimates the effect of local credit market conditions on demand for credit from P2P platforms. The paper uses a spatial autoregressive model for the main specification. We find that P2P consumer credit expanded more in counties with poor branch networks, lower concentration of banks, and lower leverage ratios.

Although Newcastle disease is reported to be endemic in Nigeria, little information exists on the molecular epidemiology and the lineage distribution of the Newcastle disease viruses (NDVs) in the country, especially in the live bird markets. Recent studies reported the identification of three distinct sub-lineages namely; 5f, 5g and 5h in West Africa, particularly sub-lineages 5f and 5g were identified in Nigeria. In this study a total of 41 NDV isolates were analysed. Thirty six NDVs were recovered from a variety of poultry species from live bird markets in the six geo-political zones of Nigeria during active surveillance from 2007 to 2008. Five NDVs recovered from outbreaks in backyard and commercial poultry farms within the same period were also genetically characterized. A commonly used region of the virus genome that spans nucleotide 61 to nucleotide 374 of the Fusion protein, including the cleavage site was targeted. Based on sequence analysis, 39 of the isolates were classified as virulent. Of these, 20 were classified as sub-lineage 5g and 17 were classified as sub-lineage 5f. One isolate differ markedly from all other strains included in the phylogeny. Interestingly, 13 strains from the 5f group formed a distinct cluster that was not identified by other groups in similar studies. Phylogenetic analysis, amino acid sequence determination of the F0 cleavage site sequence analysis, pair wise distance analysis of the partial fusion protein gene sequences and Geographic Information System (GIS) mapping was done. Results showed close genetic similarities and provided evidence for the first time of the epidemiological link between the viruses circulating in the LBMs and those identified in outbreaks in backyard and commercial farms in Nigeria between 2007 and 2008. The emergence and identification of new sub-lineages gives an insight in to the high rate of genetic drift occurring in NDV strains in Nigeria, and raises concerns about the efficacy of current NDV control measures in the country. Thus there is need for continuous surveillance and characterization of NDV from Nigeria to monitor the emergence of new lineages and sub-lineages in the Nigerian poultry industry. Copyright / Dissertation (MSc)--University of Pretoria, 2011. / Production Animal Studies / unrestricted