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frequencies. The issue of temporal aggregation is examined in two ways. We initially show that those changes do not seem to have … aggregation on those properties; therefore, the aggregation of economic flows into annual figures is once more found to involve … different frequencies is then investigated from analytical and empirical standpoints. Time aggregation is found to reduce the …
Persistent link: https://www.econbiz.de/10009431210
If there is one thing economists agree on, probably it is that inflation is a monetary phenomenon. Money also is thought to be related to the output level of the economy. The consensus among economists, however, does not go any further, and views differ on the characteristics of the...
Persistent link: https://www.econbiz.de/10009430936
My philosophical case study concerns textbook presentations of the theory of demand. Does this theory contain anything …. But then, the theory implies false factual claims. We can avoid this result by embracing the theory’s normative character … of physics by Oliver Timmer. Applying his ideas to the theory of demand reveals that the statements of this discipline …
Persistent link: https://www.econbiz.de/10009467037
A number of studies have applied non-market valuation techniques to measure the value of cultural goods. Virtually all of these studies are single case applications and rely mostly on stated preferences, such as contingent valuation techniques. We compare the relative value of multiple,...
Persistent link: https://www.econbiz.de/10009477025
This paper presents the methodology used in developing a fully-functional mode choice module capability to be incorporated into the Brisbane Strategic Transport Model (BSTM); capable of estimating mode shares in a multi-modal travel environment. The new mode choice module consists of unique...
Persistent link: https://www.econbiz.de/10009437745
The focal point of the revealed preference (RP) valuation literature, including recreation demand and random utility maximization (RUM) models, has been on eliciting the “use” value associated with environmental amenities; i.e., that portion of value associated with direct use of a resource....
Persistent link: https://www.econbiz.de/10009443101
A hedonic valuation strategy is introduced to estimate the marginal value of sportfishing harvest. The strategy uses market prices, thereby avoiding some of the measurement problems associated with the constructed or proxy prices used in common valuation methods. A charter fee hedonic equation...
Persistent link: https://www.econbiz.de/10009444584
Overall wine consumption in Spain is decreasing while, at the same time,Designation of Origin (DO) wine consumption is increasing gradually. This studyexamines Spanish DO wine consumer behaviour through stated preferences (SP) andrevealed preferences (RP) data. Part-worth utilities are...
Persistent link: https://www.econbiz.de/10009445011
In this article we present results from a study of recreation demandfor southern North Carolina beaches. We combine revealed preference andstated preference data in order to estimate the changes in recreation demandthat might occur with beach nourishment and parking improvements necessaryto...
Persistent link: https://www.econbiz.de/10009446444
In the absence of markets for environmental quality, researchers resort to stated and revealed preference techniques to estimate the benefits of environmental programs. One of the most widely used revealed preference approaches is hedonic property value models, where the value of an...
Persistent link: https://www.econbiz.de/10009450652