Showing 1 - 10 of 157
This paper proposes a quantile regression estimator for a heterogeneous panel model with lagged dependent variables and … the time series dimension of the panel is large. We present an application to the evaluation of Time-of-Use pricing using …
Persistent link: https://www.econbiz.de/10012908711
We develop novel forecasting methods for panel data with heterogeneous parameters and examine them together with …-sectional (N) and time (T) dimensions and varying degrees of parameter heterogeneity. We investigate conditions under which panel …
Persistent link: https://www.econbiz.de/10013292495
There is limited public discourse and understanding about the history and science of weather and climate intervention …, climate-related geoengineering is steadily gaining support as a means of combatting rising global temperatures. With climate … climate intervention with the aim of answering the question: Why aren’t more economists interested in evaluating weather and …
Persistent link: https://www.econbiz.de/10012872068
I propose a new conceptual framework to disentangle the impacts of weather and climate on economic activity and growth …: A stochastic frontier model with climate in the production frontier and weather shocks as a source of inefficiency. I … variability. The climate effect is larger that the weather effect …
Persistent link: https://www.econbiz.de/10013239329
Changes in product characteristics on the extensive margin are an important and hitherto neglected dimension of quality change. Standard techniques for quality-adjusting price indices cannot handle such changes satisfactorily, which leads to an economically and statistically significant bias in...
Persistent link: https://www.econbiz.de/10012891565
We focus on the housing market and examine why nonlocal home buyers (NLBs) pay 15 percent more for houses than local home buyers (LBs). We estimate a housing demand model that returns heterogeneous willingness to pay parameters for housing attributes. Our results show that NLBs are willing to...
Persistent link: https://www.econbiz.de/10012832077
We use four incentivized representative surveys to study the endowment effect for lotteries in 4,000 U.S. adults. We replicate the standard finding of an endowment effect–the divergence between Willingness to Accept (WTA) and Willingness to Pay (WTP), but document three new findings. First, we...
Persistent link: https://www.econbiz.de/10014290110
We document individual willingness to fight climate change and its behavioral determinants in a large representative … sample of US adults. Willingness to fight climate change – as measured through an incentivized donation decision – is highly … well as universal moral values positively predict climate preferences. Moreover, we document systematic misperceptions of …
Persistent link: https://www.econbiz.de/10013219074
Researchers frequently use variants of the Becker-DeGroot-Marschak (BDM) mechanism to elicit willingness to pay (WTP). These variants involve numerous incentive-irrelevant design choices, some of which carry advantages for implementation but may deteriorate participant comprehension or trust in...
Persistent link: https://www.econbiz.de/10013244245
This paper develops a revealed-preference approach that uses budget constrain discontinuities to price workplace safety. We track hourly workers who face the decision of how many hours to work at varying levels of Covid-19 risk and leverage state-specific discontinuities in unemployment...
Persistent link: https://www.econbiz.de/10013311704