Information systems and the Internet have facilitated the creation ofused-product markets that feature a dramatically wider selection, lowersearch costs, and lower prices than their brick-and-mortar counterpartsdo. The increased viability of these used-product markets has causedconcern among...

Trust is particularly important in online markets to facilitate the transfer of sensitive consumer information to online retailers. In electronic markets, various proposals have been made to facilitate these information transfers. We develop analytic models of hidden information to analyze the...

Information systems and the Internet have facilitated the creation of used product markets that feature a dramatically wider selection, lower search costs, and lower prices than their brick-andmortar counterparts do. The increased viability of these used product markets has caused concern among...

Planned introductions of genetically modified crop varieties can be troublesome to model. Estimation of demand and supply equations is not feasible due to lack of data. Further, specifying demand and supply equations requires calibration to a presumed equilibrium. Depending on the point chosen,...

This paper describes a model for estimating, in a probabilistic framework, expected future consumer surplus from planned new product innovations. The model has been applied to estimations of taxpayer benefits from NASA's New Millenium Program (NMP), which develops new technologies for space...

This analysis presents the determination of an import demand function for the world rice market using annual data from 1994 to 2007. In the specification and analysis of a world rice market import demand function, Ordinary Least Square (OLS), Instrumental Variables (IV) with Generalized Method...

The Daintree Rainforest is a prime attraction for Tropical North Queensland as a touristdestination. Visitation of the rainforest, specifically the Cape Tribulation section, hasincreased rapidly as impediments to self-drive access have been removed. This paperexamines the potential for the local...

Analyzing consumer welfare from observable data, or empirical demand functions has been a very controversial issue in economics. One metric often used is deadweight loss from a tax or price increase. A classic debate in economic history regarding the appropriate methodology for measuring...

The primary goal of this study was to determine the impact of price discriminationon tourism demand. Four objectives were defined with reference to the primaryresearch goal.The first objective was to analyse the concept of price discrimination and relevanttheories by means of a literature study....

This article examines the economic impacts of policy alternatives for addressing allocative inefficiencies among agricultural, urban, and environmental uses of federal water. The Central Valley Project Improvement Act, composed of multiple incentive-based and command-and-control policies, forms...