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and quite inconsistent empirical support of the theory. More importantly, none of this work addresses important questions …
Persistent link: https://www.econbiz.de/10012460927
This paper documents the trends in the life-cycle profiles of net worth and housing equity between 1983 and 2004. The net worth of older households significantly increased during the housing boom of recent years. However, net worth grew by more than housing equity, in part because other assets...
Persistent link: https://www.econbiz.de/10012464953
We model early expectations about the value and technological importance ('quality') of a patented innovation as a latent variable common to a set of four indicators: the number of patent claims, forward citations, backward citations and family size. The model is estimated for four technology...
Persistent link: https://www.econbiz.de/10012471439
This paper proposes a Bayesian method of performance evaluation for investment managers. We begin with a flexible set …
Persistent link: https://www.econbiz.de/10012471727
-used econometric evaluation estimators and relate them to the requirements of a comprehensive cost-benefit analysis. We present … evidence on how the inference from the most commonly used econometric evaluation estimator is modified when the direct costs of …
Persistent link: https://www.econbiz.de/10012472265
This paper considers the statistical and economic justification for one widely-used method of adjusting data from social experiments to account for dropping-out behavior due to Bloom (1984). We generalize the method to apply to distributions not just means, and present tests of the key...
Persistent link: https://www.econbiz.de/10012474066
illness can significantly increase the value of statistical life, helping to reconcile theory with empirical findings that …
Persistent link: https://www.econbiz.de/10012480708
This paper compares the structural approach to economic policy analysis with the program evaluation approach. It offers …
Persistent link: https://www.econbiz.de/10012462546
This paper outlines a new framework for gauging the properties of quasi-experimental estimates of the willingness to pay (WTP) for changes in environmental and other non-market amenities. As a rule, quasi-experimental methods cannot offer alternative hypotheses to judge the quality of their...
Persistent link: https://www.econbiz.de/10012463692
randomized controlled trials (RCTs) to accumulate credible knowledge of what works, without over-reliance on questionable theory …-based evaluation of projects is unlikely to lead to scientific progress in the understanding of economic development. I welcome recent … trends in development experimentation away from the evaluation of projects and towards the evaluation of theoretical …
Persistent link: https://www.econbiz.de/10012463957