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Merva, Mary

Institutional profile
Professor Mary P. Merva, who joined JCU in 1994, received BA degrees in both Geography and Economics from California State University, Long Beach in 1982. She went on to complete a Master of Arts in Economics at Rutgers University, where she subsequently obtained a PhD in Economics in 1989. While studying at Rutgers, she was invited in 1985 to teach economics for a year in the graduate school of Jilin University in the People’s Republic of China. After receiving her doctorate, she accepted a position at the University of Utah, where she taught economics at both the undergraduate and graduate levels. At the University of Utah, she was awarded the prestigious Superior Teaching Award from the College of Social and Behavioral Science. She also participated in the development of a televised economics course that was broadcast in the state of Utah for nearly a decade. In 1993, Professor Merva relocated with her family to Rome, Italy. In 2006, Professor Merva earned the right to hold the Chartered Financial Analyst (CFA®) designation. Her research area is in applied economics, where she has published a number of influential articles. She teaches in the areas of economics, finance, and quantitative methods. Professor Merva has nearly two decades of experience in accreditations and institutional assessment of educational programs, both with U.S. accrediting agencies such as MSCHE and AACSB, and the QAA for the U.K. Professor Merva served as Dean of Academic Affairs from 2007 to 2021. In 2010, she was promoted to Vice President of Academics, a position that she continues to hold.

Publication Search Results

Now showing 1 - 9 of 9
  • PublicationOpen Access
    Asymmetric Information, Big Data, and Algorithmic Economic Decision-Making: A Simple Lesson on the Consequences for Statistical Discrimination and Civil Liberties
    (2025) Merva, Mary
    The information age of big data has increased the use of predictive data analytics for decision-making, leading to complex societal and legal debates with respect to statistical discrimination and the protection of civil liberties. This paper presents a simple pedagogic narrative in the context of asymmetric information. Students walk through a predictive-algorithmic decision-making process by a principal and agent. A simple predictive algorithm is constructed that leads to statistical discrimination and incentivizes principals to acquire more information confronting civil liberties of the right to privacy and protection from unnecessary surveillance. The lesson can be applied to labor, financial, and insurance markets.
  • PublicationMetadata only
    Effective Information, Political Structure and Economic Growth
    (2021) Merva, Mary; Stoian, Adrian; Costagli, Simona
    Digital transformation of information led us to reconsider Hayek’s (American Economic Review, 35, 519–530) insight on a fuller use of information and re-classify political structures based on their information protection policies. This allows us to link the accumulation of information with the political structure to frame their joint impact on economic growth. We develop a model of ‘effective information’ beginning with information production and absorption and then allowing for its political propagation based on the degree of information protection. Using data from 40 countries, we find: (i) effective information and its spillovers contribute to an increase in productivity; and (ii) reductions in information protection bring larger increases in effective information as economies near an ‘information-technology frontier’ contributing to economic growth divergence.
  • PublicationMetadata only
    Economic Outcomes and Mental Health
    (2000) Merva, Mary; Fowles, Richard
  • PublicationMetadata only
    Grades as Incentives: A Quantitative Assessment with Implications for Study Abroad Programs
    (2003) Merva, Mary
    The problem under investigation is to examine if grades motivate students and, if so, by how much. This article uses a unique data set of 436 students enrolled in an American university located in Europe composed of approximately 50% study-abroad students and 50% degree-seeking students to examine whether there is a significant difference in semester grade point average (GPA) outcomes between students whose grades are averaged into their cumulative GPA with those who take courses on a pass/fail basis. Using linear regression models controlling for academic ability as well as other relevant variables, the study finds that students whose grades are averaged into their cumulative GPA are estimated to have an increase in the mean semester GPA of .36 points, or 11.4% above the average. For study-abroad students who take courses on a pass/fail basis, the results suggest that academic incentives are adversely affected by this grade transfer policy.
  • PublicationMetadata only
    Wage Inequality and Criminal Activity: An Extreme Bounds Analysis for the United States, 1975–1990
    (1996) Fowles, Richard; Merva, Mary
    The past decades in the United States have been characterized by a widening in the distribution of wage income. While much research has attempted to uncover the causes of these earnings trends, much less is known about their impact upon social and economic factors. This study examines evidence for links between changes in distribution of wage income and criminal activity. Using extreme bounds analysis in conjunction with ordinary least squares regression, the study shows that robust results linking wage inequality and crime are obtainable across a rich set of model specifications for the violent crimes of murder and assault. No evidence is found linking wage inequality with the crimes of robbery and burglary. Results are inconclusive for larceny/theft, motor vehicle theft, and forcible rape. These results should be viewed as a first stage in examining the link between wage inequality and criminal activity. Research into the specific behavioral complexities underlying these relationships should be considered to affirm these results.
  • PublicationOpen Access
    Measuring information as an expanding resource: Information production and its TFP-information absorption ecosystem “multiplier”
    (Elsevier, 2024) Merva, Mary; Costagli, Simona
    Indices to measure the extent and penetration of information in an economy are static measures. Information, however, is a dynamic, expanding resource. Information is produced when data from digital computers articulate with human-generated systems where they are transformed into information. Economic information is effective when it fuels technological innovations contributing to total factor productivity (TFP) growth. This paper develops a theoretical model to measure effective economic information (EEI) as a dynamic process. Using systemic design thinking, design systems in data value chains are embedded within their TFP-information absorption ecosystem. The system’s characteristics of human capital, economic, institutional, and regulatory factors determine the quality and amount of EEI produced. The EEI measurement model uses differential equations allowing for the dynamic expansion of information to include information-knowledge spillovers. Empirical tests for EEI on TFP for EU countries show that EEI is the key driver for TFP growth, while IT investment alone is only a necessary condition. EEI-type measures direct policy attention towards improving TFP-information absorption ecosystems and supporting the adaption of design processes that are more suitable for their TFP-information absorption ecosystems. Both are necessary to connect IT investment to TFP growth.