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airline industry. We consider an airline's choices of quality and price as dynamic decisions that trade off current cash flows … for future revenue. We examine how airline mishandled baggage, on-time performance and pricing are related to financial … distress and bankruptcy, controlling for the endogeneity of financial distress and bankruptcy. We find that an airline …
Persistent link: https://www.econbiz.de/10013122187
Amenities that vary across cities are typically valued using either a hedonic model, in which amenities are capitalized into wages and housing prices, or a discrete model of household location choice. In this paper, we use the 2000 Public Use Microdata Sample (PUMS) to value climate amenities...
Persistent link: https://www.econbiz.de/10012919134
Conventional hedonic techniques for estimating the value of local amenities rely on the assumption that households move freely among locations. We show that when moving is costly, the variation in housing prices and wages across locations may no longer reflect the value of differences in local...
Persistent link: https://www.econbiz.de/10013249384
There are two salient facts about health care in low and middle-income countries; 1) the private sector plays an important role and 2) the care provided is often of poor quality. Despite these facts we know little about what drives quality of care in the private sector and why patients continue...
Persistent link: https://www.econbiz.de/10013323878
The entry of High-Speed Railways (HSR) represents a disruptive competition to airlines, particularly for short- to … entry on the quality of service provided by airlines as proxied by their on-time performance, and to identify the channels … of HSR leads to significant reductions in the mean and variance of travel delays on the affected airline routes. Second …
Persistent link: https://www.econbiz.de/10013307654
Models of consumer behavior play a key role in modern empirical Industrial Organization. In this paper, I survey some of the models used in this literature. In particular, I discuss two commonly used demand systems: multi-stage budgeting approaches and discrete choice models. I motivate their...
Persistent link: https://www.econbiz.de/10013136543
We consider identification of nonparametric random utility models of multinomial choice using "micro data," i.e., observation of the characteristics and choices of individual consumers. Our model of preferences nests random coefficients discrete choice models widely used in practice with...
Persistent link: https://www.econbiz.de/10013151134
The widely-used estimator of Berry, Levinsohn and Pakes (1995) produces estimates of consumer preferences from a discrete-choice demand model with random coefficients, market-level demand shocks and endogenous prices. We derive numerical theory results characterizing the properties of the nested...
Persistent link: https://www.econbiz.de/10013159520
Electric vehicles offer the promise of reduced environmental externalities relative to their gasoline counterparts. We combine a theoretical discrete-choice model of new vehicle purchases, an econometric analysis of the marginal emissions from electricity, and the AP2 air pollution model to...
Persistent link: https://www.econbiz.de/10013020710
In this paper, we study the identification and estimation of a dynamic discrete game allowing for discrete or continuous state variables. We first provide a general nonparametric identification result under the imposition of an exclusion restriction on agent payoffs. Next we analyze large sample...
Persistent link: https://www.econbiz.de/10013023350