Showing 1 - 10 of 8,567
the impact of the weather on purchasing decisions. We find that the choice to purchase a convertible, a 4-wheel drive, or … a vehicle that is black in color is highly dependent on the weather at the time of purchase in a way that is … inconsistent with classical utility theory. Similarly, we find that the hedonic value that a swimming pool and that central air add …
Persistent link: https://www.econbiz.de/10012460449
and less affected by travel cost shocks. We propose a simple theory of storability/durability of a sector's output as a …
Persistent link: https://www.econbiz.de/10012455066
We use newly-available Indian panel data to estimate how the returns to planting-stage investments vary by rainfall … when there is no skill. We show, using an IV strategy in which the Indian government forecast of monsoon rainfall serves as … estimated. Using the full rainfall distribution and our profit function estimates, we find that Indian farmers on average under …
Persistent link: https://www.econbiz.de/10012459327
.S. President, cold weather in Manhattan, global warming, the El Niño phenomenon, atmospheric pressure in the Arctic, the …
Persistent link: https://www.econbiz.de/10012460596
Miguel, Satyanath and Sergenti (2004) use rainfall variation as an instrument to show that economic growth is … negatively related to civil conflict in sub-Saharan Africa. In the reduced form regression they find that higher rainfall is … associated with less conflict. Ciccone (2010) claims that this conclusion is 'erroneous' and argues that higher rainfall levels …
Persistent link: https://www.econbiz.de/10012462196
an unusual weather pattern depend crucially on actuarial models for determining event (e.g., default) probabilities. In …
Persistent link: https://www.econbiz.de/10012470623
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10012467161
Popular wisdom holds that publishers revise college textbooks mainly to kill off the secondary market for used books. While this behavior might be profitable if consumers are myopic, uninformed or have high short-run discount rates (that exceed the publishers'), neoclassical authors have noted...
Persistent link: https://www.econbiz.de/10012467258
I suppose that consumers see a firm as fair if they cannot reject the hypothesis that the firm is somewhat benevolent towards them. Consumers that can reject this hypothesis become angry, which is costly to the firm. I show that firms that wish to avoid this anger will keep their prices rigid...
Persistent link: https://www.econbiz.de/10012467772
This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing information. These consumers rationally choose to only sporadically update their information and re-compute their optimal consumption plans. In between updating dates, they remain...
Persistent link: https://www.econbiz.de/10012467804