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Bidding to give in the Field: Door-to-Door Fundraisers had it right from the Start
Onderstal, Sander; Schram, Arthur J.C.; Soetevent, … - Tinbergen Institute - 2011
approached about 4500 households, each participating in either an all-pay auction, a lottery, a non-anonymous voluntary … contribution mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households competed for a prize in the all-pay auction … and the lottery. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory …
Persistent link: https://www.econbiz.de/10009003388
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Inverse Adverse Selection: The Market for Gems
Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - Tinbergen Institute - 2011
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10008838639
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Auctions under Payoff Uncertainty: The Case with Heterogeneous Bidder-Aversion to Downside Risk
Hu, Audrey; Zou, Liang - Tinbergen Institute - 2008
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights … entails a lower reserve price, a higher expected revenue, and higher expected utilities for at least some or all bidders than …
Persistent link: https://www.econbiz.de/10005136943
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Biases in Willingness-To-Pay Measures from Multinomial Logit Estimates due to Unobserved Heterogeneity
Berg, Vincent van den; Kroes, Eric; Verhoef, Erik T. - Tinbergen Institute - 2010
It is a common finding in empirical discrete choice studies that the estimated mean relative values of the coefficients (i.e. WTP's) from multinomial logit (MNL) estimations differ from those calculated using mixed logit estimations, where the mixed logit has the better statistical fit. However,...
Persistent link: https://www.econbiz.de/10008838538
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Omitted Variables and Misspecified Disturbances in the Logit Model
Cramer, J.S. - Tinbergen Institute - 2005
In binary discrete regression models like logit or probit the omis- sion of a relevant regressor (even if it is orthogonal) depresses the re- maining <font face="Symbol">b</font> coefficients towards zero. For the probit model, Wooldridge (2002) has shown that this bias does not carry over to the effect of the regressor...
Persistent link: https://www.econbiz.de/10005136884
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Ordering the Preference Hierarchies for Internal Finance, Bank Loans, Bond and Share Issues
Haan, Leo de; Hinloopen, Jeroen - Tinbergen Institute - 2002
We estimate the incremental financing decision for a sample of some 150 Dutch companies for the years 1984 through 1997, thereby distinguishing internal finance and three types of external finance: bank borrowing, bond issues and share issues. First, we estimate a multinomial logit model which...
Persistent link: https://www.econbiz.de/10005137064
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The Anatomy of Subjective Well-being
Praag, B.M.S. van; Frijters, P.; Ferrer-i-Carbonell, A. - Tinbergen Institute - 2002
This paper contributes to the literature on subjective well-being (SWB) by taking into account different aspects of life, called domains, such as health, financial situation, job, leisure, housing, and environment. We postulate a two-layer model where individual total SWB depends on the...
Persistent link: https://www.econbiz.de/10005137176
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The Design of (De)centralized Punishment Institutions for Sustaining Co-operation
Kosfeld, Michael; Riedl, Arno - Tinbergen Institute - 2004
In this paper we discuss experimental evidence for two different institutional approaches to a possible resolution of the fundamental conflict between social welfare maximization and individual utility maximization. The basic workhorse for modelling this conflict is the voluntary contribution of...
Persistent link: https://www.econbiz.de/10005137197
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The Attractiveness of Temporary Employment to Reduce Adjustment Costs
Graaf-Zijl, Marloes de - Tinbergen Institute - 2005
In this paper I determine the importance of adjustment costs in employers hiring decisions. Temporary work arrangements offer potential ways to avoid adjustment costs. I estimate employers willingness to pay for the characteristics of these work arrangements. I distinguish regular contracts,...
Persistent link: https://www.econbiz.de/10005137210
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Using Happiness Surveys to value Intangibles; the Case of Airport Noise
Praag, Bernard M.S. van; Baarsma, B.E. - Tinbergen Institute - 2004
sum of hedonic house price differentials and a residual cost component. The residual costs are assessed from a survey …
Persistent link: https://www.econbiz.de/10005137235