Our Summer 2018 Issue

On behalf of the Comparative Advantage Editorial Board, we are honored to present the sixth volume, Summer Issue of the Stanford Undergraduate Economics Journal. Through the years, Comparative Advantage has changed and expanded to include an online blog in addition to our bi-yearly issues, staying true to our mission of providing students a platform to showcase their economic prowess. We are proudly run by undergraduate students … Continue reading Our Summer 2018 Issue

Purchasing Policy: The Effect of Political Action Committee Campaign Contributions from the Agribusiness Sector on Support Mechanisms for Individual Crop and Product Producers

By Rebecca Sobel, Princeton University

In this paper, I analyze data on agricultural producer support mechanisms and agribusiness Political Action Committee campaign contributions from 1998 to 2016 to deter- mine the extent to which lobbying on behalf of any particular crop or agricultural product is translated into government transfers back to its producers. I proceed with … Continue reading Purchasing Policy: The Effect of Political Action Committee Campaign Contributions from the Agribusiness Sector on Support Mechanisms for Individual Crop and Product Producers

BLOG: Employment Effects of Minimum Wage Increases – A Matched Pairs Design Using US Data

By Eric Karsten, Chong An Ong, Immanuel Adriana Rakshana, and Arushi Saksena, University of Chicago 

The minimum wage is a contentious issue, with proponents arguing that it is required to protect the wage security of low-income earners, and opponents arguing that it places downwards pressure on employment in the labor market. Our paper uses a differences in differences regression model, similar to the one used in Card & Krueger(1993) to estimate the unemployment effects of a minimum wage increase. Continue reading BLOG: Employment Effects of Minimum Wage Increases – A Matched Pairs Design Using US Data

The Economic Impact of Psychological Distress on Former Child Soldiers

By Jonathan Kaufmann, American University

While previous research demonstrates a significant negative relationship between post-traumatic stress disorder and earnings among adult veterans in the United States, a similar connection for children in developing nations has not been established. The literature indicates that both endogeneity and sample-selection biases are inherent in this relationship. This paper used Continue reading The Economic Impact of Psychological Distress on Former Child Soldiers

BLOG: Expert Opinion and Restaurant Pricing: Quantifying the Value of a Michelin Star

By Carly Shin, The George Washington University.

This paper investigates the relationship between expert ratings and the restaurant market. Specifically, this paper aims to broaden our understanding of the experience goods markets by looking at the effects of both having an expert-awarded Michelin star and earning or losing a Michelin star on New York City restaurant prices. Continue reading BLOG: Expert Opinion and Restaurant Pricing: Quantifying the Value of a Michelin Star

BLOG: Is Finance Making Geography Increasingly Insignificant?

By Yuxiang Hou, College of William and Mary

This paper attempts to revisit “the end of geography” debate by incorporating both established theoretical frameworks and the latest empirical evidence. It argues that for five reasons finance is not making geography increasingly insignificant. However, in the long run, things may be different. Continue reading BLOG: Is Finance Making Geography Increasingly Insignificant?