Group Research Projects
Research Groups
As might be expected, there was no uniquely optimal solution to the general-equilibrium assignment problem. I've stumbled through the role of central planner as well as I could, but not everyone could get his or her #1 choice of topic and/or partners. Here are the research group topics and assignments. There are five groups with four or five members each.
Bookstore merchandise pricing. (Jayanth Shankar, Carter Thomas, Tyler Thompson, Nico Villareal) Homer's Hut and the Reed Bookstore seem to have considerable monopoly power in selling to Reed students. Choose a small selection of commonly purchased goods (a few office supplies and/or food items) available there and compare their prices to those available from nearby off-campus vendors. Be sure to include some "impulse purchase" items as well as some that are more expensive and would justify fairly careful consideration before buying. What do you find? Does Homer's or the bookstore seem to be using its monopoly power to charge monopoly prices? Are there differences between pricing policies on different kinds of goods? How do you explain your results?
Coffee. (Jordan Alexander, Lydia Kerns, Helena Pedrotti, Ross Robinson, Toni Scarcello) There are many places to buy coffee on or near the Reed campus. Your research task is to figure out what determines the prices charged by various coffee sources. You should pick two or three basic coffee varieties (latte, cappuccino, etc.) and collect price information from a variety of coffee shops within a couple of miles of Reed. Be sure also to collect information about the size of the serving. How is the price per ounce related to whether the shop is a chain or independent, the location of the shop, the presence or absence of seating for on-site consumption, the selection of other menu items available, hours of operation and other factors that you think might matter?
Airline prices. (Adam Casey, Florin Feier, Mateo Ochoa, Rohan Unny-Law, Mark Walth) Collect information on the mileage flown, number of daily flights (on weekdays), the range of prices of coach class tickets, and the number of airlines which provide service on flights between Portland and a selection of cities around the country. Compare your findings across destinations. To what extent do ticket prices reflect differences in the costs of operating the flights? Do you see any patterns in fares according to whether the destination is large or small, close or distant, served by many airlines or a few, etc.?
Organic produce. (Manny Gallegos, Theo Landsman, Erin Vezeroglu, Daniel Zuniga) Many grocery stores and produce stands offer a choice of "regular" or "organic" produce. Your task is to sample the vegetable outlets within a few miles of the Reed campus and compare the selection, prices, and apparent quality of organic vs. regular produce. How does each store define "organic"? Are the definitions consistent? How much more does organic produce cost? Are there differences in the relative prices among stores? Are there factors that could explain these differences? Are large supermarkets more or less expensive than small stands or specialty stores?
Pizza. (Isabelle Bouffard, Jed Grabman, Mark Jarrett, Charlie McIntyre, Stephanie Radoslovich) Pizza is a most popular food among college students. Reed students have many choices, some cheap and some more expensive. Many of the pizza vendors in Southeast Portland deliver to Reed for free. Your task is to investigate the market for pizzas faced by a Reed student. How much do prices vary? Are there observable variations in characteristics of the product that explain this price variation (perhaps delivery, waiting time for delivery of pizza, size, amount of cheese and other toppings used, real vs. artificial cheese, "quality" however you measure it)? How do Reed students respond to this variation?
Assignment
The result of your project will be presented by one or more group members at a special class session from 1 to 2:30pm on Friday, December 13 in Vollum 120 (during the reading period). You must also turn in a short report summarizing your research methods and findings electronically (email a pdf) before the final class session on Wednesday, December 11. Reports will be posted on the Moodle site when they are turned in so that others can read them.
Since you are all new to the process of economic research, it may be somewhat difficult for you to formulate your thoughts into a "testable hypothesis" and then to recognize what regimen of data collection and analysis would test it. You are encouraged to formulate a tentative research plan, then to confer with the instructor in person or by email before you get too far into the research.
Your presentation should begin by posing the question(s) that your research was intended to answer. You should then describe the data you collected, how these data were analyzed, and how you drew your conclusions. Presentations may use computer projection (Powerpoint?) and will be 10 minutes in length, plus some time for questions.