Showing 1 - 10 of 168
Leisure activities such as local recreation trips usually take place in discrete blocks of time that are surrounded by time devoted to other commitments. It can be costly to transfer time between blocks to allow for longer outings. These observations affect the value of time within those blocks...
Persistent link: https://www.econbiz.de/10005034549
This paper is aimed to assess, with two lab experiments, to what extent Kőszegi and Rabin's (2006) model of expectations-based reference-dependent preferences can explain Knetsch's (1989) endowment effect. Departing from past work, we design an experiment that treats the two goods (a mug and a...
Persistent link: https://www.econbiz.de/10008805021
We analyze the economic returns to different postsecondary degrees in Chile. We posit a schooling decision model with unobserved ability, observed test scores and labor market outcomes. We benefit from administrative records to carry out our empirical strategy. Our results show positive average...
Persistent link: https://www.econbiz.de/10010969379
Background. In Spain's "MIR" system of allocating residency training positions, medical school graduates are ranked according to their performance on a national exam and then sequentially choose from the remaining available training slots. We studied how changes in the MIR system might address...
Persistent link: https://www.econbiz.de/10010969452
This paper uses a structural model of school choice and academic achievement to study the demand for charter schools in Boston, Massachusetts, with an emphasis on comparative advantage in school choice. I combine an optimal portfolio choice model of charter school application and attendance...
Persistent link: https://www.econbiz.de/10010950882
Many economic decisions involve a binary choice - for example, when consumers decide to purchase a good or when firms decide to enter a new market. In such settings, agents' choices often depend on imperfect expectations of the future payoffs from their decision (expectational error) as well as...
Persistent link: https://www.econbiz.de/10010951018
Social and economic networks are ubiquitous, serving as contexts for job search, technology diffusion, the accumulation of human capital and even the formulation of norms and values. The systematic empirical study of network formation - the process by which agents form, maintain and dissolve...
Persistent link: https://www.econbiz.de/10010951162
While measurement error in the dependent variable does not lead to bias in some well-known cases, with a binary dependent variable the bias can be pronounced. In binary choice, Hausman, Abrevaya and Scott-Morton (1998) show that the marginal effects in the observed data differ from the true ones...
Persistent link: https://www.econbiz.de/10010951180
We study the Medicare Part D prescription drug insurance program as a bellwether for designs of private, non-mandatory health insurance markets, focusing on the ability of consumers to evaluate and optimize their choices of plans. Our analysis of administrative data on medical claims in Medicare...
Persistent link: https://www.econbiz.de/10010951181
Although independent unobserved heterogeneity--variables that affect the dependent variable but are independent from the other explanatory variables of interest--do not affect the point estimates or marginal effects in least squares regression, they do affect point estimates in nonlinear models...
Persistent link: https://www.econbiz.de/10010951343