The paper compares the empirical performance of two recently suggested techniques for estimating Multinomial Probit (MNP) models. The application concerns the choice of the first practice location of general practitioners in Quebec (Canada). Regional similarities are accounted for by modeling...

In this article, the authors estimate a spatial autoregressive multinomial probit model of the choice of location by general practitioners for establishing their initial practice. This model allows them to account for potential interdependencies among location choices. The model is used to...

This paper provides evidence that workers' compensation insurance (WC) affects not only the occurrence but also the composition of reported injuries. In our theoretical approach, WC is the source of two interrelated moral hazard problems: underprovision of accident-preventing efforts by the...

Purpose: This paper aims to answer the question: What are the impacts of implementing in-state procurement preference policies on the economy of the state of South Carolina? Design/methodology/approach: Toevaluate the impacts, the following six economic indicators were analyzed: jobs, personal...

This study examines the role of elections in determining electricity prices in Quebec. The legislation governing Hydro-Quebec is used to develop a model incorporating its stated policy objectives and the partisan interests of the governing party. Bayesian methods are used to incorporate...

We make use of a recently developed method to estimate the intertemporal marginal rate of substitution consistent with the fluctuations of asset return data from the Toronto Stock Exchange. These estimates are then used to evaluate various parametric specifications for preferences often used in...

Researchers who wish to estimate factor demands using flexible functional forms may now choose from several candidates supplied by the theoretical literature. Unfortunately, the criteria for a priori model selection are not clear. This paper adopts the use of Bayesian methods and argues that...

This paper looks at the empirical consequences of inappropriately using a representative firm to mimic the aggregate investment decisions of a group of heterogeneous firms faced with costs of adjusting capital inputs. Improper aggregation generates a bias with two important consequences: (1) an...