There are different views on the specifications of market share models between economists and marketing researchers. The paper made a multi-criteria comparison between the two well-known demand system models, the AIDS and Translog model that are subject to the symmetry and homogeneity...

This paper presents Bayesian methodology for the estimation of a bivariate probit model with an endogenous effect and both parametric linear and flexible semiparametric exogenous effects. The model is prompted by an analysis of the utilisation of health services in Australia using data from the...

This paper develops a new simulation estimation algorithm that is particularly useful for estimating dynamic panel data models with unobserved endogenous state variables. The new approach can deal with the commonly encountered and widely discussed ``initial conditions problem,'' as well as the...

In this paper we compare the size and the power of four cointegration tests in heterogeneous panel data, with both varying intercepts and slopes. These tests are (i) Kao (1999) Tests (both Dickey-Fuller (DF) and augmented Dickey-Fuller (ADF) types of cointegration tests in panel data), (ii)...

We examine in this paper the role of an economy's social interaction structure, defined as a graph. Individuals care about the decisions of their neighbors. We extend the behavioral discrete-response rules along the lines of the interactive discrete choice model of Brock and Durlauf (2001) to...

Abstract It is increasingly recognized that institutional factors such as trade unions do play a dominant role in determining the levels of wages, standard of working conditions. This is more pronounced in the industrial sector of developing economies. The role of labor organizations in the...

Unlike previous studies on major choice of university students, this study considers a university's prestige in their choice of a major field. This study sets up an estimation model for a joint decision about where to go to university (prestigious or non-prestigious) and what major field to...

We describe a two-step algorithm for estimating dynamic games where the agents are assumed to play a Markov Perfect equilibrium. In the first step, the policy functions and the law of motion for the state variables are estimated. In the second step, the remaining structural parameters are...

Recent terrorist attacks such as the attacks on the World Trade Centre in September 2001 have generated new interest in the debate on capital punishment. It has been suggested that support for the death penalty could be higher in the wake of terrorist activity. Using data from the Australian...