El estudio de las preferencias es uno de los temas menos tratados por la econometría aplicada. En el presente artículo se pretende realizar una aproximación translogarítimica de las preferencias por medio de la construcción de un Índice de Satisfacción de los Hogares (ISH) con base al...

Using nonparametric methods, the paper examines the specification of a model to evaluate the distribution of willingness-to-pay (WTP) for travel time savings from binomial choice data from a simple time-cost trading experiment involving four public transport modes. A formulation in preference...

The paper presents an analysis of the income elasticity of the value of travel time savings (VTTS). It expands on previous micro-econometric estimates of the VTTS on binary choice experimental data by accounting for income taxes, for the dependence of trip length on income and for the stochastic...

This paper provides necessary conditions for testing the local consistency of three-level nested logit models with random utility maximization. We find that for a model with two sub-nests per nest the conditions can lead to a substantial increase in the range of acceptable dissimilarity...

In this note we study the implications on a bivariate normal Roy Model of two sets of monotonicity hypotheses proposed recently by Manski and Pepper (2000). In that simple context, we show that these hypotheses imply strong restrictions on the correlations structure between the decision and the...

This paper investigates the time between transactions on financial markets. It is assumed that the interval between transactions is a random variable and the relationship between the probability to observe a transaction at each instant of time and the type of the previous trade is investigated....

This paper considers the job satisfaction of academics using a detailed dataset of over two thousand academics from ten English higher education institutions. The results of our analysis suggest that one would be wrong to consider one single measure of job-satisfaction. Academics appear to be...

This paper compares generalized method of moments (GMM) and simulated maximum likelihood (SML) approaches to the estimation of the panel probit model. Both techniques circumvent multiple integration of joint density functions without the need to restrict the error term variance- covariance...

This paper develops a partial equilibrium model to account for stylized facts about the behavior of oligarchs, politically and economically strong conglomerates in transition and developing countries. The model predicts that oligarchs are more likely than other owners to invest in productivity...

We investigate the causes of civil war, using a new data set of wars during 1960-99. We test a `greed’ theory focusing on the ability to finance rebellion, against a`grievance’ theory focusing on ethnic and religious divisions, political repression and inequality. We find that greed...