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Intermedia Substitutability and Market Demand by National Advertisers

Silk, Alvin J.; Klein, Lisa R.; Berndt, Ernst R. - 2021

We assess substitutable and complementary relationships among eight national advertising media classes, as well as the magnitude of their own-price elasticities. We use a translog demand model, whose parameters we estimate by three-stage least squares, based on 1960-94 annual U.S. data.We find...

Persistent link: https://www.econbiz.de/10013218304

Market Size Matters

Campbell, Jeffrey R.; Hopenhayn, Hugo Andrés - 2021

This paper characterizes the effects of market size on the size distribution of establishments for thirteen retail …, and in four industries the dispersion of establishment sizes depends on market size. Models of competition in which … competition is tougher in larger markets can reproduce the positive effect of market size on establishments' average size …

Persistent link: https://www.econbiz.de/10013226157

Leveraging Lotteries for School Value-Added : Testing and Estimation

Angrist, Joshua D.; Hull, Peter; Pathak, Parag A.; … - 2021

Conventional value-added models (VAMs) compare average test scores across schools after regression-adjusting for students’ demographic characteristics and previous scores. This paper tests for VAM bias using a procedure that asks whether VAM estimates accurately predict the achievement...

Persistent link: https://www.econbiz.de/10013224955

A New Approach to the Valuation of Intangible Capital

Cummins, Jason G. - 2012

estimates can also be obtained by ignoring the possibility that the stock market overstates the value of intangible …

Persistent link: https://www.econbiz.de/10013102059

The Under-Reporting of Transfers in Household Surveys : Its Nature and Consequences

Meyer, Bruce D. - 2010

High rates of understatement are found for many government transfer programs and in many datasets. This understatement has major implications for our understanding of economic well-being and the effects of transfer programs. We provide estimates of the extent of under-reporting for ten transfer...

Persistent link: https://www.econbiz.de/10013152093

The Quality of Ideas : Measuring Innovation with Multiple Indicators

Lanjouw, Jean Olson; Schankerman, Mark - 2021

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/10013217927

Newer Need Not Be Better : Evaluating the Penn World Tables and the World Development Indicators Using Nighttime Lights

Pinkovskiy, Maxim - 2016

Nighttime lights data are a measure of economic activity whose error is plausibly independent of the measurement errors of most conventional indicators. Therefore, we can use nighttime lights as an independent benchmark to assess existing measures of economic activity (Pinkovskiy and...

Persistent link: https://www.econbiz.de/10012992665

The Long-Term Consequences of Teacher Discretion in Grading of High-Stakes Tests

Diamond, Rebecca - 2016

We examine the long-term consequences of teacher discretion in grading of high-stakes tests. Bunching in Swedish math test score distributions reveal that teachers inflate students who have “a bad test day,” but do not to discriminate based on immigrant status or gender. By developing a new...

Persistent link: https://www.econbiz.de/10012993229

Do Good Reports Mean Higher Prices? The Impact of Hospital Compare Ratings on Cardiac Pricing

Dor, Avi - 2016

Previous research found that the initiation of Hospital Compare (HC) quality reporting had little impact on patient outcomes. However little is known about its impact on hospital prices, which may be significant since insurers are positioned to respond to quality information when engaging...

Persistent link: https://www.econbiz.de/10012978527

Aggregation of Consumer Ratings : An Application to Yelp.Com

Dai, Daisy - 2012

Because consumer reviews leverage the wisdom of the crowd, the way in which they are aggregated is a central decision faced by platforms. We explore this "rating aggregation problem" and offer a structural approach to solving it, allowing for (1) reviewers to vary in stringency and accuracy, (2)...

Persistent link: https://www.econbiz.de/10013097277