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Identification and estimation of hedonic models

Ekeland, Ivar; Heckman, James J.; Nesheim, Lars - 2003

This paper considers the identification and estimation of hedonic models. We establish that in an additive version of the hedonic model, technology and preferences are generically identified up to affine transformations from data on demand and supply in a single hedonic market. For a very...

Persistent link: https://www.econbiz.de/10011509453

A theory of price adjustment under loss aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010341721

Comparing the effectiveness of employment subsidies

Brown, Alessio J. G.; Merkl, Christian; Snower, Dennis J. - 2010 - October 2010 (this final and revised version)

This paper provides a theoretical and quantitative analysis of various types of wellknown employment subsidies. Two important questions are addressed: (i) How should employment subsidies be targeted? (ii) How large should the subsidies be? We consider measures involving targeting workers with...

Persistent link: https://www.econbiz.de/10011451838

Cooperation, motivation and social balance

Bosworth, Steven; Singer, Tania; Snower, Dennis J. - 2016

This paper examines the reflexive interplay between individual decisions and social forces to analyze the evolution of cooperation in the presence of "multi-directedness," whereby people's preferences depend on their psychological motives. People have access to multiple, discrete motives....

Persistent link: https://www.econbiz.de/10011452082

Quadratic labor adjustment costs, business cycle dynamics and optimal monetary policy

Lechthaler, Wolfgang; Snower, Dennis J. - 2011 - revised January 2011

We build quadratic labor adjustment costs into an otherwise standard New-Keynesian model of the business cycle and show that this increases output persistence in a similar vein as other models of labor market frictions. Furthermore, it is demonstrated that quadratic labor adjustment costs imply...

Persistent link: https://www.econbiz.de/10011452084

Identity-driven cooperation versus competition

Snower, Dennis J.; Bosworth, Steven - 2016

This paper seeks to extend the domain of identity economics by exploring motivational foundations of in-group cooperation and out-group competition. On this basis, we explore the reflexive interaction between individual economic decisions and social identities in response to technological change...

Persistent link: https://www.econbiz.de/10011452091

The interplay of economic, social and political fragmentation

Bosworth, Steven; Snower, Dennis J. - 2019

This paper examines how skill-biased growth can generate economic fragmentation (income disparities) that give rise to social fragmentation (the adoption of increasingly incompatible social identities and values), which generate political fragmentation (the adoption of increasingly incompatible...

Persistent link: https://www.econbiz.de/10012120280

Estimation of dynamic discrete choice models by maximum likelihood and the simulated method of moments

Eisenhauer, Philipp; Heckman, James J.; Mosso, Stefano - 2014

We compare the performance of maximum likelihood (ML) and simulated method of moments (SMM) estimation for dynamic discrete choice models. We construct and estimate a simplified dynamic structural model of education that captures some basic features of educational choices in the United States in...

Persistent link: https://www.econbiz.de/10010418037

The generalized Roy model and the cost-benefit analysis of social programs

Eisenhauer, Philipp; Heckman, James J.; Vytlacil, Edward - 2014

The literature on treatment effects focuses on gross benefits from program participation. We extend this literature by developing conditions under which it is possible to identify parameters measuring the cost and net surplus from program participation. Using the generalized Roy model, we...

Persistent link: https://www.econbiz.de/10010424826

Estimation of dynamic discrete choice models by maximum likelihood and the simulated method of moments

Eisenhauer, Philipp; Heckman, James J. - 2014

Persistent link: https://www.econbiz.de/10010424834