Description innovation is universally recognized as an important source of economic growth. Patents may be considered as a potential measure of innovation. As such, patents may alter isoquant maps, and measuring their elasticities is both intuitively and empirically appealing. This book...

This volume presents straightforward, innovative research on the estimation of demand systems and the measurement of consumer preferences. Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians....

Across the globe every nation wrestles with how it will pay for, provide, regulate and administer its healthcare system. Health economics is the field of economics that deals with every one of those issues and the difficult issue of allocating resources where the allocation can literally mean...

In this paper we consider estimation of demand systems with flexible functional forms, allowing an error term with a general conditional heteroskedasticity function that depends on observed covariates, such as demographic variables. We propose a general model that can be estimated either by...

In this paper we provide an alternative approach to analyze the demand for international tourism in the Balearic Islands, Spain, by using a neural network model that incorporates time-varying conditional volatility. We consider daily air passenger arrivals to Palma de Mallorca, Ibiza and Mahon,...

This paper examines some of the economic and econometric issues that arise in attempting to measure the degree of concentration in an industry and its dynamic evolution. A general axiomatic basis is developed. We offer new measures of concentration over aggregated periods of time and provide a...