Associate Professor
of Economics
Contact Information:
Department of Economics
101 Harris Hall
301
d a v i s m c at m s t . e d u (without the spaces and @ to replace at)
573-341-6959
Curriculum Vita:
Courses:
See
Blackboard:
Research:
Selected Publications and Forthcoming Articles
Why
Are Prices Sticky? The Dynamics of
Wholesale Gasoline Prices (with
James D. Hamilton)
Journal of Money, Credit and Banking, February 2004, vol. 36, pp. 17-37
Abstract: The menu-cost
interpretation of sticky prices implies that the probability of a price change
should depend on the past history of prices and fundamentals only through the
gap between the current price and the frictionless price. We find that this prediction is broadly
consistent with the behavior of 9
See a copy
of the paper (pdf).
The
Dynamics of Daily Retail Gasoline Prices
Managerial and Decision Economics, 2007, 28, 713-722.
Abstract: Previous research has analyzed the behavior
of retail gasoline stations in how they adjust their prices. In this paper we analyze the daily movements
in prices of four retail gasoline stations located in
See a working paper
version of the paper (pdf).
Called
up to the Big Leagues: An Examination of the Factors Affecting the Location of
Minor League Baseball Teams
International Journal of Sport Finance, 2006, 1(4), 253-264.
Abstract: In this study we analyze the factors that
determine whether a particular city has a minor league baseball team and the
level at which that team competes. Using
the Generalized Ordered Logit Model we determine that higher population,
personal income and time from nearest major league baseball team all have a
positive effect on the city’s having a minor league baseball team and having
one at a higher level. The finding that
personal income has a positive effect on the level of the baseball team,
combined with past studies suggesting income does not affect minor league
baseball attendance, leads us to conclude that higher income fans cannot take
off more time to attend baseball games but want a higher quality product when
they attend. Rankings of the most
overrepresented and underrepresented cities, based on the model, are presented.
See a copy of
the paper at the journal website.
Environmental
Regulations and the Increasing Seasonality of Gasoline Prices
Applied Economics Letters, Forthcoming
Abstract: We analyze gasoline prices
over the past 27 years and find that there has been an increase in the seasonal
variation since 2000. This finding is attributed to an increase in the
environmental regulations on gasoline during the summer months.
See a working paper version of the paper (pdf).
Income
and the Locations of AAA Minor League Baseball Teams
Atlantic Economic Journal (Anthology),
2007, 35 (3), 371-372
Abstract: We analyze the
factors that are important for determining whether a AAA baseball team exists
in a particular city. After properly
accounting for population in the model, income loses much of its significance
but can not be completely discounted as an important factor.
See a working paper version of the paper (pdf).
A
Winning Proposition: The Economic Impact of Successful NFL Franchises (with Christian
End)
Economic Inquiry, Forthcoming
Abstract: Research
has demonstrated that a Super Bowl victory increases the personal income of the
individuals in the metropolitan area from which the winning teams come (Coates
& Humphreys, 2002). We argue that the economic benefits should extend
beyond just the championship team’s city to the cities of teams who experience
seasonal success and thus the winning percentages of NFL teams were included in
our model. When controlling for sources of bias, winning percentage of
the local professional football team had a significant positive effect on real
per capita personal income. Explanations for these conclusions are
offered from a psychological perspective.
See a working paper version of the
paper (pdf).
The Interaction between Baseball Attendance and
Winning Percentage: A VAR Analysis
(August 2007)
International Journal
of Sport Finance, 2008, 3(1), 58-73.
Abstract: This study examines the importance of team success for
attendance for major league baseball teams.
Winning and attendance go together for most baseball teams, but the
direction of causation is not obvious.
Winning could lead to greater attendance as fans want to see a winner,
while an increase in attendance could lead to greater winning as teams’ have
greater resources to spend on salaries.
This study finds that the direction of causation runs from team success
to greater attendance, and that a sudden increase in fans does not lead to additional
winning in the future. A secondary
result suggests that exogenous shocks to attendance have replicating effects on
attendance as well.
Selected Working Papers
Other Links:
Missouri S&T Department of
Economics
Last Modified: Wednesday ,September 17, 12:17 CDT
URL: http://www.mst.edu/~davismc/
