Current Search: Petroleum industry and trade -- Economic aspects (x)
-
-
Title
-
The political economy of domestic corn ethanol production.
-
Creator
-
Fow, Samantha Joule., Harriet L. Wilkes Honors College
-
Abstract/Description
-
Since its inception, the domestic corn ethanol industry in the United States has been dependant on federal subsidies and trade restrictions to keep afloat. Although this political support has allowed the industry to grow, there have been a number of negative externalities as a result, namely the growing demand for corn causing significant increases in the prices of many consumer goods. Despite the fact that consumers are facing rising prices in agricultural and energy markets, ethanol still...
Show moreSince its inception, the domestic corn ethanol industry in the United States has been dependant on federal subsidies and trade restrictions to keep afloat. Although this political support has allowed the industry to grow, there have been a number of negative externalities as a result, namely the growing demand for corn causing significant increases in the prices of many consumer goods. Despite the fact that consumers are facing rising prices in agricultural and energy markets, ethanol still maintains a level of support around the general American populace that is counterintuitive given its economic reality. In this paper, I contend that much of ethanol's support is maintained through the intentional manipulation of the product's public perception on behalf of politicians and industrial superpowers. I will demonstrate this phenomenon through the use of both Stigler's (1971) and Pelzman's (1976) model of iso-majority.
Show less
-
Date Issued
-
2008
-
PURL
-
http://purl.flvc.org/FAU/77666
-
Subject Headings
-
Corn products industry, By-products, Economic aspects, Bioenergetics, Alcohol as fuel, Environmental aspects, Petroleum industry and trade, Political aspects
-
Format
-
Document (PDF)
-
-
Title
-
Entropic Considerations of Efficiency in the West Texas Intermediate Crude Oil Futures Market.
-
Creator
-
Sagul, Ryan, Yuhn, Ky-hyang, Florida Atlantic University, College of Business, Department of Economics
-
Abstract/Description
-
For the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to...
Show moreFor the last fifty years, the efficient market hypothesis has been the central pillar of economic thought and touted by all, despite Sanford Grossman’ and Nobel prize winner Joseph Stiglitz’ objection in 1980. Andrew Lo updated the efficient market hypothesis in 2004 to reconcile irrational human behavior and cold, calculating automatons. This thesis utilizes 33 years of oil futures, GARCH regressions, and the Jensen-Shannon informational criteria to provide extensive empirical objections to informational efficiency. The results demonstrate continuously inefficient oil future markets which exhibit decreased informational efficiency during recessionary periods, advocating the adaptive market hypothesis over the efficient market hypothesis.
Show less
-
Date Issued
-
2016
-
PURL
-
http://purl.flvc.org/fau/fd/FA00004730, http://purl.flvc.org/fau/fd/FA00004730
-
Subject Headings
-
Capital market -- Psychological aspects, Energy industries -- Risk management, Financial risk management -- Mathematical models, Futures, Investment analysis, Petroleum industry and trade -- Economic aspects, Stocks -- Mathematical models
-
Format
-
Document (PDF)
