Institutional Economics
Maliheh Pourali; Hadi Amiri; Vahid Moghadam; Alireza Kamalian
Abstract
The economy is full of opportunities through which individuals have to decide under different rules. Modeling individuals' behaviors under these additional rules are pursued in experimental economics. The present paper addresses some of the critical institutional questions in governance in the Iranian ...
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The economy is full of opportunities through which individuals have to decide under different rules. Modeling individuals' behaviors under these additional rules are pursued in experimental economics. The present paper addresses some of the critical institutional questions in governance in the Iranian economy, using experimental economics. The data were collected and created out of 480 simulation runs of joint pool resource harvesting where resource users had asymmetric power for harvesting the resource. Alternative institutional arrangements, each representing different governance of natural resources, were simulated in these experiments. This paper concentrates on the three factors of harvesters' communication, the origin of regulations (the harvesters or the government), and rule enforcement (the amount and probability of violators' fines). The results indicate that in the situations where participants are allowed to regulate, harvesting the natural resource is equal to where the government is in charge of regulating. For an external regulation, the worst way to harvest it is when the government fails to guarantee the rule enforcement (the probability of a fine is low). Under such circumstances, resource harvesting is even more unequal than the open-access state. Exogenous regulation leads to crowding-out altruistic motivations.
Econometrics
Alireza Kamalian; Seyed Komail Tayebi; Alimorad Sharifi; Hadi Amiri
Abstract
Propensity score matching is extensively utilized in estimating the effects of policy interventions and programs for data observations. This method compares two treatment and control groups to make statistical inferences about the significance of the effects of these policies on target variables. Therefore, ...
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Propensity score matching is extensively utilized in estimating the effects of policy interventions and programs for data observations. This method compares two treatment and control groups to make statistical inferences about the significance of the effects of these policies on target variables. Therefore, when using propensity score matching, it is significant to obtain the standard error to estimate the treatment effect. The precise estimations of variance and standard deviation facilitate more efficient statistical testing and more accurate confidence intervals. However, there is no agreement in the literature on the estimation method of standard error; some methods rely on resampling, while others do not. This study compares these methods using Monte Carlo simulation and calculating the Mean Squared Errors (MSE) of these estimators. Our results indicate that Jackknife and standard methods are superior to Abadie and Imbens (2006) bootstrap, and subsampling ones in terms of accuracy. Finally, reviewing Tayyebi et al. (2019) indicated that different methods of estimating variance in the matching estimator led to different statistical inferences in terms of statistical significance.
Saeed Samadi; Mostafa Mobini Dehkordi; Alireza Kamalian; Ehsan Mohammadzade; Mehdi Karname Haghighi
Abstract
One of the important socioeconomic tasks of governments is regulation. Regulation literature focuses on government intervention in the market for regulating the amount of production and distribution of a commodity, which can lead to the determination of the structure and rules governing the market. A ...
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One of the important socioeconomic tasks of governments is regulation. Regulation literature focuses on government intervention in the market for regulating the amount of production and distribution of a commodity, which can lead to the determination of the structure and rules governing the market. A commodities exchange is one of the most important regulatory agencies, which, by providing a convenient, transparent and observable trading system, is customary for the flow of government-specific regulations on commodities. The aim of the present study is to test the regulatory results of supply of products in the commodities exchange. To this end, the percentage increase in the price of 12 commodities traded on the commodities exchange was compared with 21 off-exchange trades using the Propensity Score Matching technique, Caliper and Radius Matching technique, and Bootstrap Standard Deviation. According to the obtained results, the supply of commodities on the Iran mercantile exchange has led to a decrease in their price growth compared to similar commodities outside the Iran mercantile exchange. As a result, using regulatory agencies such as the commodities exchange will increase production and welfare of the society.
