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Empirical welfare analyses often impose stringent parametric assumptions on individuals' preferences and neglect unobserved preference heterogeneity. In this paper, we develop a framework to conduct individual and social welfare analysis for discrete choice that does not suffer from these...
Persistent link: https://www.econbiz.de/10012513281
The paper studies the effect of public transport policies on urban pollution. It uses a quantitative equilibrium model with residential choice and mode choice. Pollution comes from commuting and residential energy use. The model parameters are calibrated to replicate key variables for American...
Persistent link: https://www.econbiz.de/10011717025
In the seminal rational inattention model of Matĕjka and McKay (2015), logit demand arises from the discrete choice of agents who are uncertain about choice payoffs and have access to a flexible, costly information acquisition technology (RI-logit). A notable limitation of this powerful...
Persistent link: https://www.econbiz.de/10014247316
In this paper we consider a competitive economy with flows of materials from extraction via recycling to landfilling … stimulates recycling as expected. But it also increases primary material extraction and - possibly - the total waste flow, and it … reduces the recycling ratio. …
Persistent link: https://www.econbiz.de/10009781631
Recycling waste from used goods can substitute for scarce raw materials and reduce resource dependence. This paper … presents a model of waste collection, recycling and final goods production using raw and recycled materials. Non-recycled waste … recycling firms to compensate for the savings in disposal costs. We study trade between resource poor economies exporting final …
Persistent link: https://www.econbiz.de/10014312550
This paper summarizes the economics perspective on recycling of municipal solid waste. The first section reviews recent … data on recycling rates in the United States and across all OECD countries. The OECD data suggest the average aggregate … recycling rate across member countries appears to have plateaued over the past several decades. Data from the United States on …
Persistent link: https://www.econbiz.de/10015061148
This paper considers the estimation problem of structural models for which empirical restrictions are characterized by a fixed point constraint, such as structural dynamic discrete choice models or models of dynamic games. We analyze the conditions under which the nested pseudo-likelihood (NPL)...
Persistent link: https://www.econbiz.de/10003805996
Persistent link: https://www.econbiz.de/10003598838
This paper develops a model for dynamic binary choice panel data that allows for unobserved heterogeneity to be arbitrarily correlated with covariates. The model is of the exponential type. We derive moment conditions that enable us to eliminate the unobserved heterogeneity term and at the same...
Persistent link: https://www.econbiz.de/10009687207
Dagsvik and Karlström (2005) have demonstrated how one can compute Compensating Variation and Compensated Choice Probabilities by means of analytic formulas in the context of discrete choice models. In this paper we offer a new and simplified derivation of the compensated probabilities....
Persistent link: https://www.econbiz.de/10010234530