{"title":"After\u0000 <scp>Shleifer</scp>\u0000 , who needs\u0000 <scp>Mises</scp>\u0000 ?","authors":"Anna B. Faria, J. R. Subrick","doi":"10.1002/soej.12622","DOIUrl":"https://doi.org/10.1002/soej.12622","url":null,"abstract":"","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2023-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48294480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Peter J. Boettke, Rosolino A. Candela, Peter J. Jacobsen
Abstract According to Nobel Laureate Edmund Phelps (2013, p. 123), Mises's critique of economic calculation under socialism renders him the originator of the economic analysis of property rights. This paper also suggests that implicit to Mises's impossibility theorem was also the origins of the theory of transaction costs. This raises the following question: what is the relationship, if any, between the process of economic calculation and the concept of transaction costs? Filtered through a Misesian lens, we argue that transaction costs are the costs of engaging in economic calculation . We illustrate our theoretical point utilizing the case of airline oversales auction system first proposed by Julian Simon (1968). In doing so, we reframe the problem of airline oversales from a transaction‐cost approach, one in which property rights in airline seats are initially poorly defined. By doing so, we illustrate that resources expended to discover the valuable attributes of a good (in this case airline seats), the terms of exchange between potential trading partners, as well as enforcing the terms of an exchange, all of which are transaction costs, are also, by definition, the costs of calculating the exchange value of goods. Thus, the airlines oversales auction system is illustrative of an institutional solution to the problem of economic calculation via a reduction of transaction costs.
{"title":"Economic calculation and transaction costs: The case of the airline oversales auction system","authors":"Peter J. Boettke, Rosolino A. Candela, Peter J. Jacobsen","doi":"10.1002/soej.12620","DOIUrl":"https://doi.org/10.1002/soej.12620","url":null,"abstract":"Abstract According to Nobel Laureate Edmund Phelps (2013, p. 123), Mises's critique of economic calculation under socialism renders him the originator of the economic analysis of property rights. This paper also suggests that implicit to Mises's impossibility theorem was also the origins of the theory of transaction costs. This raises the following question: what is the relationship, if any, between the process of economic calculation and the concept of transaction costs? Filtered through a Misesian lens, we argue that transaction costs are the costs of engaging in economic calculation . We illustrate our theoretical point utilizing the case of airline oversales auction system first proposed by Julian Simon (1968). In doing so, we reframe the problem of airline oversales from a transaction‐cost approach, one in which property rights in airline seats are initially poorly defined. By doing so, we illustrate that resources expended to discover the valuable attributes of a good (in this case airline seats), the terms of exchange between potential trading partners, as well as enforcing the terms of an exchange, all of which are transaction costs, are also, by definition, the costs of calculating the exchange value of goods. Thus, the airlines oversales auction system is illustrative of an institutional solution to the problem of economic calculation via a reduction of transaction costs.","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135534705","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this article, I develop a measure of host country experience, which I call “relative time of arrival,” to explore differences between first- and second-generation immigrants. This measure is finer than immigrant generation and expands on the widely used measures of years since migration and age at migration. It is scaled so that zero indicates that a child was born in the same year that the family migrated, and the negative side of the scale measures parents' host country experience before the child's birth. I then use relative time of arrival to assess whether parents' host country experience before birth matters and generally find that it does not. I also study the dividing line between the first and second generations, specifically, whether there are differences in educational outcomes between early arriving first-generation immigrants and second-generation immigrants whose parents arrived shortly before birth. For most outcomes considered, I find that the transition between the first and second generations is relatively smooth, indicating that these groups are not as distinct as often thought. Thus, observed differences between the first and second generations are driven by the lower performance of late-arriving first-generation children.
{"title":"What divides the first and second generations? Family time of arrival and educational outcomes for immigrant youth","authors":"Marie C. Hull","doi":"10.1002/soej.12615","DOIUrl":"https://doi.org/10.1002/soej.12615","url":null,"abstract":"In this article, I develop a measure of host country experience, which I call “relative time of arrival,” to explore differences between first- and second-generation immigrants. This measure is finer than immigrant generation and expands on the widely used measures of years since migration and age at migration. It is scaled so that zero indicates that a child was born in the same year that the family migrated, and the negative side of the scale measures parents' host country experience before the child's birth. I then use relative time of arrival to assess whether parents' host country experience before birth matters and generally find that it does not. I also study the dividing line between the first and second generations, specifically, whether there are differences in educational outcomes between early arriving first-generation immigrants and second-generation immigrants whose parents arrived shortly before birth. For most outcomes considered, I find that the transition between the first and second generations is relatively smooth, indicating that these groups are not as distinct as often thought. Thus, observed differences between the first and second generations are driven by the lower performance of late-arriving first-generation children.","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":"49 ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138505072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Subhasish M. Chowdhury, Patricia Esteve-González, Anwesha Mukherjee
The heterogeneous abilities of players in various competitive contexts often lead to undesirable outcomes such as low effort provision, a lack of diversity, and inequality. A range of policies is implemented to mitigate such issues by enforcing competitive balance, that is, by leveling the playing field. Some of those policies, known as affirmative action (AA) policies, are practiced in ethical response to historical discrimination against particular social groups, and are also aimed at increasing competition. This survey summarizes the rapidly growing literature on contest theory regarding AA and other policies that level the playing field. Using a general theoretical structure, we outline the theoretical, experimental, and empirical research findings on contest outcomes under a multitude of policy mechanisms, and in doing so, we touch upon some of the common debates in the AA literature.
{"title":"Heterogeneity, leveling the playing field, and affirmative action in contests","authors":"Subhasish M. Chowdhury, Patricia Esteve-González, Anwesha Mukherjee","doi":"10.1002/soej.12618","DOIUrl":"https://doi.org/10.1002/soej.12618","url":null,"abstract":"The heterogeneous abilities of players in various competitive contexts often lead to undesirable outcomes such as low effort provision, a lack of diversity, and inequality. A range of policies is implemented to mitigate such issues by enforcing competitive balance, that is, by leveling the playing field. Some of those policies, known as affirmative action (AA) policies, are practiced in ethical response to historical discrimination against particular social groups, and are also aimed at increasing competition. This survey summarizes the rapidly growing literature on contest theory regarding AA and other policies that level the playing field. Using a general theoretical structure, we outline the theoretical, experimental, and empirical research findings on contest outcomes under a multitude of policy mechanisms, and in doing so, we touch upon some of the common debates in the AA literature.","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":"66 ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138505061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"State capacity and the socialist calculation debate","authors":"Mykola Bunyk, Leonid Krasnozhon","doi":"10.1002/soej.12617","DOIUrl":"https://doi.org/10.1002/soej.12617","url":null,"abstract":"","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42638104","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An investigation of unsuccessful performance and subsequent retake behavior in principles of economics","authors":"Tisha L. N. Emerson, Kimmarie Mcgoldrick","doi":"10.1002/soej.12613","DOIUrl":"https://doi.org/10.1002/soej.12613","url":null,"abstract":"","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45346283","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Proxy variable estimation of productivity and efficiency","authors":"M. Tsionas, S. Kumbhakar","doi":"10.1002/soej.12608","DOIUrl":"https://doi.org/10.1002/soej.12608","url":null,"abstract":"","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45411353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Two steps forward, one step back? Quantifying the pecuniary costs of debt account aversion and the debt snowball","authors":"Benjamin M. Hamilton","doi":"10.1002/soej.12612","DOIUrl":"https://doi.org/10.1002/soej.12612","url":null,"abstract":"","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42255788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Intergenerational income mobility and economic freedom","authors":"Justin T. Callais, Vincent J. Geloso","doi":"10.1002/soej.12611","DOIUrl":"https://doi.org/10.1002/soej.12611","url":null,"abstract":"","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49002079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Does spouses’ relative education explain their household’s distribution of labor? This paper analyzes the effect of educational attainment on time allocated to housework and paid work. To address endogeneity concerns, I implement a novel identification strategy by exploiting changes in spouses’ education relationship due to remarriage to identify its effects on their time allocation. I find that when an individual marries a spouse with higher relative education than their previous one, the individual’s share of housework time increases while their share of paid work time decreases. I also find that the spouse’s relative education reduces the probability of a stay-at-home spouse. The effects are stronger when a husband marries a more educated wife than his previous one. These findings show that relative human capital plays a role in household labor distribution and motivates a more gender-neutral division of labor within households.
{"title":"The effect of spouses' relative education on household time allocation","authors":"Elisa Taveras","doi":"10.1002/soej.12609","DOIUrl":"https://doi.org/10.1002/soej.12609","url":null,"abstract":"Does spouses’ relative education explain their household’s distribution of labor? This paper analyzes the effect of educational attainment on time allocated to housework and paid work. To address endogeneity concerns, I implement a novel identification strategy by exploiting changes in spouses’ education relationship due to remarriage to identify its effects on their time allocation. I find that when an individual marries a spouse with higher relative education than their previous one, the individual’s share of housework time increases while their share of paid work time decreases. I also find that the spouse’s relative education reduces the probability of a stay-at-home spouse. The effects are stronger when a husband marries a more educated wife than his previous one. These findings show that relative human capital plays a role in household labor distribution and motivates a more gender-neutral division of labor within households.","PeriodicalId":47946,"journal":{"name":"Southern Economic Journal","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45766514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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