Energy prices have exhibited significant volatility in recent years. For example, natural gas pricesranged from $4 to $15 per MM BTU's in calendar years 2005 through 2011. Future prices are uncertainbut are likely to retain a high level of volatility. This volatility complicates analysis of...

A range of empirical approaches to representing preference heterogeneity have emerged in choice modelling. Researchers have been able to explore the differences which selection of a particular approach makes to welfare measures in a particular dataset, and indeed have been able to implement a...

Despite the vital role of the utility function in welfare measurement, the implications of working with incorrect utility specifications have been largely neglected in the choice experiments literature. This paper addresses the importance of specification with a special emphasis on the effects...

Despite the vital role of utility functional form in welfare measurement, the implicationsof working with incorrect utility specifications have not been examined in the choiceexperiments (CE) literature. This paper addresses the importance of the specification ofboth non-monetary attributes and...

In this study we examine the widely used Brock, Dechert and Scheinkman (BDS) test when applied to the logarithm of the standardized residuals of an estimated GARCH(1,1) model as a test for the adequacy of this speci?cation. We review the conditions derived by De Lima (1996, Econometric Reviews,...

In this study we examine the widely used Brock, Dechert and Scheinkman (BDS) test when appliedto the logarithm of the standardized residuals of an estimated GARCH(1,1) model as a test for theadequacy of this speci?cation. We review the conditions derived by De Lima (1996, Econometric Reviews,15,...

Correctly measuring a country’s national income and its growth is essential to the understanding of various aspects of the country’s economy both at present and in the future. The measurement issue is even more important for economies like China whose size-based economic-political power is...

Rationale The revision to the Annual and Quarterly National Accounts figures by the National Statistics Institute in September was more extensive than in previous years and has altered the interpretation of some aspects of Spanish economic developments since the pandemic. Takeaways •The new...

There is increasing agreement that understanding complexity is important for project management because of difficulties associated with decision-making and goal attainment which appear to stem from complexity. However the current operational definitions of complex projects, based upon size and...