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are analysed and insights from the theory of industrial organisation are given. Governments intervene in the market for …
Persistent link: https://www.econbiz.de/10002734112
In this paper we specify a linear Cliff and Ord-type spatial model. The model allows for spatial lags in the dependent variable, the exogenous variables, and disturbances. The innovations in the disturbance process are assumed to be heteroskedastic with an unknown form. We formulate a multi-step...
Persistent link: https://www.econbiz.de/10003792846
This paper proposes a novel regularisation method for the estimation of large covariance matrices, which makes use of insights from the multiple testing literature. The method tests the statistical significance of individual pair-wise correlations and sets to zero those elements that are not...
Persistent link: https://www.econbiz.de/10010361374
We study the small sample properties of conditional quantile estimators such as classical and IV quantile regression. First, we propose a higher-order analytical framework for comparing competing estimators in small samples and assessing the accuracy of common inference procedures. Our framework...
Persistent link: https://www.econbiz.de/10012509400
over 2,000 participants. Decision makers allocate a fixed endowment between two receivers. To measure discrimination, we … more pronounced among decision makers who are male, non-migrants, have right-wing political preferences, and live in …
Persistent link: https://www.econbiz.de/10014533789
find a strong positive relationship between changes in attractiveness and changes in the local tourism-related economic … activity, with a positive impact on tourism expenditure and tourism employment, but no effect on total employment. In high … related to tourism and firms in the nontradable sector. We observe no effects on wage growth. We discuss our results in the …
Persistent link: https://www.econbiz.de/10015407788
actions. The resulting decisions may be less, rather than more, risky. Making a decision after acquiring information provides …
Persistent link: https://www.econbiz.de/10003937594
paper we argue that practicality is not the only feature that can be addressed by means of stochastic choice theory. This … theory also offers a powerful framework for developing a more realistic model for labor supply choices, founded on …
Persistent link: https://www.econbiz.de/10009488981
This paper examines a life-cycle cost concept that applies to both manufacturing and service industries in which upfront capacity investments are essential. Borrowing from the energy literature, we refer to this cost measure as the levelized product cost (LC). Per unit of output, the levelized...
Persistent link: https://www.econbiz.de/10010234531
directly measure religious organizations ́power to shape human decision making. We employ an objective measure of voters …
Persistent link: https://www.econbiz.de/10010223454