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In a recent New York Times op-ed, University of Chicago Prof. Michael Greenstone argues that carbon emissions, generated by coal mining and petroleum extraction, should be taxed as an externality. In order for Congress to know the optimal tax, it must know the dollar value of the externality generated per unit of coal production. One way to do so is to compare house prices in local areas with a coal mine to house prices in similar local areas without a coal mine. The intuition is that there is less demand for houses near coal mines compared to houses away from coal mines, and that the price differential represents household willingness to pay to be away from carbon emissions, i.e. the dollar value of the externality on households in the neighborhood.
(a) Would this approach measure the causal effect of building a coal mine on house prices? Be sure to state the counterfactual we are attempting to evaluate.
(b) Discuss potential sources of bias that might make this empirical strategy fail to uncover the causal effect. Discuss one concrete example of omitted variables, and one concrete example of reverse causality.
(c) Propose an experiment that might be able to uncover the causal effect of building a coal mine on house prices.
Robin D. Cradle was judged at fault in an accident. The three occupants of the vehicle she hit were awarded damages of $60,000, $20,000, and $5,000. Robin has 50/100/25 liability coverage. What amount, if any, would not be covered by her insurance an..
Getz Minerals Inc. is confronted with the decision of building a processing plant. The options they are considering are build a large plant, build a small pant or do nothing. Getz Minerals has the option of conducting its own marketing research surve..
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Is there anything that Wal-Mart has done or is now doing in its drive to enter Africa and other international markets that could legitimately be considered as “unethical” by its stakeholders? Why or why not?
Direct marketers are very good at determining the effectiveness of their programs. Many direct marketers now measure the impact of program on the consumer funnel. Explain how direct marketers measure effectiveness, and how they now use consumer funne..
Imagine that you are working as a strategist in an industry in your country. (Bahrain, Jordan, Oman, Kuwait, Saudi Arabia, Lebanon, Egypt or Sudan) You have been asked to critically analyze the strategy adopted by any two firms doing similar busi..
To build a sustainable business that is profitable, scalable, and capable of delivering service excellence every day, organizations must recognize that "Your Can't be Good at Everything." (a) Explain the meaning and why this approach has helped organ..
From the case study, create a nonmonetary strategy that could reduce the amount of turnover experienced by WWW. Support your position with evidence or examples.
Explain the logic behind how MRP's gross-to-net calculations are processed. What input files are included in this process?
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