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You searched for +publisher:"Cornell University" +contributor:("Prince, Jeffrey T."). Showing records 1 – 2 of 2 total matches.

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Cornell University

1. Tanompongphandh, Thanasin. Three Essays On Market Efficiency: Global Price Leadership, Informal Parallel Markets, And Market Microstructure .

Degree: 2011, Cornell University

This dissertation tackles the concept of market efficiency from three distinct topics in applied economics, from microfinance, to agriculture commodity market, and further to market microstructure of the most advanced economy. The first essay, entitled "Market Efficiency and Price Discovery Among Leading Rice Exporting Countries", focuses on the issue of rice market efficiency. The study establishes, under Johansen's procedure, that there are long-run price co-movements existing among the three major rice-exporting countries, and within the United States domestic markets, the long-run efficient linkage between spot and future prices of rough rice, as Chicago Board of Trade rough rice futures converge to United States Department of Agriculture rough rice prices in a cash market. Regarding the efficiency among the export market prices, results show that the hypothesis of market efficiency are rejected in two of the three pairs, namely Thai-Vietnam and ThaiUS(Arkansas). The Gonzalo & Granger (1995) decomposition method finds that the Thai and United States rice are dominant in the price discovery process. Within the United States domestic markets, the dominant is the futures market followed by the cash market of the rough rice and then the milled rice export price. The second essay, entitled "Determinants for Formal Credit and Informal Credit Access: The Case of Thai Farm Households", examines determinants for Thai agricultural households' participation in formal and its informal parallel credit markets. The study follows Heckman's two-stage selection model (1979) approach to determine the informal loan participation of Thai agricultural households. Results reveal that households tend to 'stick' to the credit market in which they were previously engaged. This finding reinforces the vicious cycle which makes it more difficult for farmers to get out of debt. Secondly, the study finds that wealthier households are less likely to access credit, and are more likely to participate in formal credits than their less wealthy peers. Results also show less probability of credit access between May and December coinciding with the planting and harvesting season accentuating the nature of loans as working-capital rather than consumption loans. Finally, the study discovers that households with owned farmland are more likely to participate in the formal credit market, while households with rented farmland are more likely to participate in the informal credit market stressing the use of owned land as collateral to participate in the former. The final essay, entitled "On the Challenge of Testing Weak-Form Market Efficiency using High Frequency Data", explores the issue of efficiency in microstructure of the Exchange-Traded-Fund (ETF). This essay shows that the profitability of a simple technical trading strategy hinges heavily on the way the Trades And Quotes (TAQ) dataset is filtered for mistakes and outliers. This paper uses ultra-high-frequency TAQ data that cover the time-span since the inception of the S&P 500 ETF from… Advisors/Committee Members: Daouk, Hazem (committeeMember), Prince, Jeffrey T. (committeeMember).

Subjects/Keywords: rice market; market efficiency; informal credit

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Tanompongphandh, T. (2011). Three Essays On Market Efficiency: Global Price Leadership, Informal Parallel Markets, And Market Microstructure . (Thesis). Cornell University. Retrieved from http://hdl.handle.net/1813/33636

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Tanompongphandh, Thanasin. “Three Essays On Market Efficiency: Global Price Leadership, Informal Parallel Markets, And Market Microstructure .” 2011. Thesis, Cornell University. Accessed August 04, 2020. http://hdl.handle.net/1813/33636.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Tanompongphandh, Thanasin. “Three Essays On Market Efficiency: Global Price Leadership, Informal Parallel Markets, And Market Microstructure .” 2011. Web. 04 Aug 2020.

Vancouver:

Tanompongphandh T. Three Essays On Market Efficiency: Global Price Leadership, Informal Parallel Markets, And Market Microstructure . [Internet] [Thesis]. Cornell University; 2011. [cited 2020 Aug 04]. Available from: http://hdl.handle.net/1813/33636.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Tanompongphandh T. Three Essays On Market Efficiency: Global Price Leadership, Informal Parallel Markets, And Market Microstructure . [Thesis]. Cornell University; 2011. Available from: http://hdl.handle.net/1813/33636

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation


Cornell University

2. Sun, Joo Yeon. A Study Of The Effects Of Korean Airline Deregulation: The Impact Of Low Cost Carriers (Lccs) Entry On Air Travel Demand And Welfare Gains .

Degree: 2012, Cornell University

This dissertation examines the consequences of the Korean Airline Deregulation Act of May 2008. I propose an empirical methodology for analyzing demand and supply in differentiated product markets that measures welfare effects due to the entry of Low Cost Carriers (LCCs) from two perspectives: pre- and post-deregulation. I have built a panel of airline carrier level data for each of the seven domestic non-stop routes from June 2006 to October 2010 to investigate whether the deregulation policy is desirable for increasing the net welfare gains to air passengers, and for promoting competition among airline carriers. Chapter 1 explains the implementation and effects of the Act change on the Korean airline industry. The Act removed restrictions imposed on both aircraft size and aircraft age for the non-scheduled air service carriers so that all LCCs were able to operate jet aircraft which had more than 100 seats per airplane. Since May 2008, the competition, long dominated by two legacy carriers, Korean Air (KAL) and Asiana Air (AAR), has intensified as emerging LCCs have began offering lower air fares. Chapter 2 outlines the empirical framework of the nested logit model and applies it to two categories of city pair routes in Korea: five Jeju island routes and two inland routes. A priori there are expectations of differences in both types of travelers and in alternatives to air transportation, thus differences in air travel demand sensitivity to price and non-price factors, such as frequent flights and aircraft size. In this chapter, I find evidence of a common sensitivity to price across the Jeju island routes and the inland routes and route-specific response to flight characteristics. Thus, I propose a joint constrained model in terms of price sensitivity where the parameter for price variable is constrained to be the same across all seven routes, but the flight characteristics should be permitted to have route-specific effects. Frequent flights, larger aircraft, evenly distributed flight schedules on peak-demand hours (lunchtime for some routes), and shorter airtime duration generate a higher utility for air passengers. Chapter 3 models the supply side and legacy carriers' strategic responses to the emergence of LCCs. The two legacy carriers established their own subsidiary LCCs (dependent LCCs). KAL entered some routes with its subsidiary LCC, JNA, while AAR rebadged to ABL, its subsidiary LCC, replacing their prior service. Chapter 4 integrates the demand- and supply-side in order to derive average price elasticities for air travel demand, implied marginal costs and Lerner indices for each carrier's flights. Price-cost markups are recovered after the demand parameters are first obtained and then inserted in the pricing equation. The estimated results for a dominant airline carrier on some inland routes are inconsistent with the static profit maximization assumption, having inelastic demand elasticities and negative marginal costs. Chapter 5 contributes to the literature on the spatial competition of the airline… Advisors/Committee Members: Jakubson, George Hersh (committeeMember), Abowd, John Maron (committeeMember), Prince, Jeffrey T. (committeeMember).

Subjects/Keywords: Low Cost Carrier; Deregulation; Airline Competition

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APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Sun, J. Y. (2012). A Study Of The Effects Of Korean Airline Deregulation: The Impact Of Low Cost Carriers (Lccs) Entry On Air Travel Demand And Welfare Gains . (Thesis). Cornell University. Retrieved from http://hdl.handle.net/1813/31066

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Sun, Joo Yeon. “A Study Of The Effects Of Korean Airline Deregulation: The Impact Of Low Cost Carriers (Lccs) Entry On Air Travel Demand And Welfare Gains .” 2012. Thesis, Cornell University. Accessed August 04, 2020. http://hdl.handle.net/1813/31066.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Sun, Joo Yeon. “A Study Of The Effects Of Korean Airline Deregulation: The Impact Of Low Cost Carriers (Lccs) Entry On Air Travel Demand And Welfare Gains .” 2012. Web. 04 Aug 2020.

Vancouver:

Sun JY. A Study Of The Effects Of Korean Airline Deregulation: The Impact Of Low Cost Carriers (Lccs) Entry On Air Travel Demand And Welfare Gains . [Internet] [Thesis]. Cornell University; 2012. [cited 2020 Aug 04]. Available from: http://hdl.handle.net/1813/31066.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Sun JY. A Study Of The Effects Of Korean Airline Deregulation: The Impact Of Low Cost Carriers (Lccs) Entry On Air Travel Demand And Welfare Gains . [Thesis]. Cornell University; 2012. Available from: http://hdl.handle.net/1813/31066

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

.