Showing 1 - 10 of 7,672
This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...
Persistent link: https://www.econbiz.de/10014150712
This study uses the methods of experimental economics to investigate possible causes for the failure of the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are high enough, producers may choose to (partially) ignore the dynamic component of their production...
Persistent link: https://www.econbiz.de/10014186740
winsorizing may induce or exacerbate bias. We term this source of bias Iatrogenic' (or econometrician induced) error. The …
Persistent link: https://www.econbiz.de/10013232932
This paper develops and applies semiparametric econometric methods to estimate the form of selection bias that arises … econometric selection model which represents the bias solely as a function of the probability of participation; and (c) the method … of difference-in-differences. Using data from an experiment on a prototypical social program combined with unusually rich …
Persistent link: https://www.econbiz.de/10013232004
This paper considers causal inference and sample selection bias in non-experimental settings in which: (i) few units in …-treatment characteristics. We propose the use of propensity score matching methods and implement them using data from the NSW experiment … and compare the estimates of the treatment effect obtained using our methods to the benchmark results from the experiment …
Persistent link: https://www.econbiz.de/10013214591
We propose point forecast accuracy measures based directly on distance of the forecast-error c.d.f. from the unit step function at 0 ("stochastic error distance," or SED). We provide a precise characterization of the relationship between SED and standard predictive loss functions, and we show...
Persistent link: https://www.econbiz.de/10012984778
Field experiments rely heavily on self-reported data, but subjects may misreport behaviors, especially sensitive ones …
Persistent link: https://www.econbiz.de/10013017511
In this paper I analyze the relationships among investment, q, and cash flow in a tractable stochastic model in which marginal q and average q are identically equal. After analyzing the impact of changes in the distribution of the marginal operating profit of capital, I extend the model to...
Persistent link: https://www.econbiz.de/10013015553
In three sets of experiments involving over 4,200 subjects, we show that agents motivated to be selfish make systematic …
Persistent link: https://www.econbiz.de/10012857671
Test-based accountability including value-added assessments and experimental and quasi-experimental research in education rely on achievement tests to measure student skills and knowledge. Yet we know little regarding important properties of these tests, an important example being the extent of...
Persistent link: https://www.econbiz.de/10013107477