This paper develops an empirical strategy for testi ng competing hypotheses of expectation regimes when direct measures of expectati ons are unavailable. The procedure takes as given an assumed structural relation ship between expected values of exogeneous variables and a given decision variab...

Suppose one could expend effort to prevent probabilistic transition to an adverse state, and also effort to expedite probabilistic transition to a beneficial state. Bearing in mind that the efforts occur in different states, should these efforts substitute or complement? Two appealing arguments...

The optimal balance between keeping marriages intact, despite spousal conflict, and allowing for divorce is a subject of policy debate in the United States. To explore the tradeoffs, I construct a structural model with information asymmetries, which may generate inefficient outcomes. Parameters...

This paper empirically investigates the determinants of citations based on the publicationof the top 100 most often cited economists. The effects of publication age and author fame onsubsequent citations are found to be positive and significant. Citations are also significantly affectedby...

The remarkable expansion of global wind power capacity in many countries brings forward several key economic questions regarding the performance of impacted electricity markets. Wind forecast uncertainties and rules that penalize scheduling deviations often discourage wind energy producers from...

Choosing the right set of new products to offer is a key driver of profitability. New products often share some design attributes with existing products, thus, firms need to decide which attributes to keep common and which to differentiate. We propose and empirically implement a new methodology...