The overestimation of willingness-to-pay (WTP) in hypothetical responses is a well-known finding in the literature. Various techniques have been proposed to remove or, at least, reduce this bias. Using about 30,000 responses on WTP for a variety of power mixes from a panel of 6,500 German...

Using household travel diary data collected in Germany between 1997 and 2012, we employ an instrumental variable (IV) approach that enables us to consistently estimate both fuel price and efficiency elasticities at once. The aim is to gauge the relative impacts of fuel economy standards and fuel...

Zum Stromverbrauch der in privaten Haushalten verbreiteten Elektrogeräte gibt es wenig empirische Evidenz. Um diese Lücke zu schließen, wird im folgenden Beitrag ein ökonometrisches Modell geschätzt, das auf Basis der Daten einer detaillierten Erhebung zum Stromverbrauch und zur...

This note investigates the pass-through of global Brent oil notations to fuel prices across the oligopoly of retail majors in Germany. We assemble a high-frequency panel data set that encompasses millions of price observations and allows us to distinguish effects by brand. Upon establishing a...

Discrete-continuous models have become a common technique for addressing selectivity biases in data sets with endogenously partitioned observational units. Alternative two-stage approaches have been suggested by LEE (1983), DUBIN and MCFADDEN (1984), and DAHL (2002), all of which capture the...

Using household travel diary data collected in Germany between 1997 and 2012, we employ an instrumental variable (IV) approach to estimate fuel price and efficiency elasticities. The aim is to gauge the relative impacts of fuel economy standards and fuel taxes on distance traveled. We fi nd that...

This note attempts to reconcile a range of primary methods for dealing with price asymmetry, such as the approaches proposed by Tweeten and Quance (1969), Wolffram (1971) and Houk(1977). Using Wolffram's stylized example, we first illustrate that the notion of asymmetry can be captured in a...

The overestimation of willingness-to-pay (WTP) in hypothetical responses is a wellknown finding in the literature. Various techniques have been proposed to remove or, at least, reduce this bias. Using responses from a panel of about 6,500 German households on their WTP for a variety of power...

Die Überschätzung der Zahlungsbereitschaft in rein hypothetischen Entscheidungssituationen ist ein in der Literatur wohlbekanntes Phänomen. Zur Eliminierung dieser Verzerrung wurden verschiedene Methoden vorgeschlagen, unter anderem der sogenannte Cheap-Talk-Ansatz und das...

Seit dem Jahr 2000 haben sich die Strompreise für private Haushalte praktisch verdoppelt. Von steigenden Stromkosten sind nicht zuletzt Millionen von armutsgefährdeten Haushalten betroffen. Vor diesem Hintergrund untersucht der vorliegende Beitrag exemplarisch für einige Haushaltstypen mit...