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Who should pay for certification?
Stahl, Konrad; Strausz, Roland - 2011
Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer or the seller? Our answer - the seller - follows from a nontrivial analysis revealing a clear intuition. Buyer-induced certification acts as an inspection device,...
Persistent link: https://www.econbiz.de/10010306003
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Price Competition with Information Disparities in a Vertically Differentiated Duopoly
Cavaliere, Alberto - 2004
differentiation, informed consumers exert a positive externality on the purchasers of the high quality good as its price decreases … when the share of informed consumers decreases. Considering also that the price of the low quality good increases with the … with pessimistic consumers we can explain demand collapses and insensitivity to price changes due to consumer suspicions …
Persistent link: https://www.econbiz.de/10011324907
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Monotonic regression based on Bayesian P-splines: an application to estimating price response functions from store-level scanner data
Brezger, Andreas; Steiner, Winfried J. - 2003
its price increases, and therefore one expects a brand's unit sales to be a decreasing function in own price. We follow a … brand of orange juice and show that imposing monotonicity constraints for own- and cross-item price effects improves the …
Persistent link: https://www.econbiz.de/10010266201
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Econometric analysis of volatile art markets
Bocart, Fabian Y. R. P.; Hafner, Christian M. - 2011
expectation. The art price index is a smooth function of time and has a variability that is comparable to the volatility of stock …
Persistent link: https://www.econbiz.de/10010281564
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Welfare analysis using nonseparable models
Hoderlein, Stefan; Vanhems, Anne - 2010
This paper proposes a framework to model empirically welfare effects that are associated with a price change in a … heterogeneous effect of a chance of gasoline price using US consumer data and find very substantial differences in individual …
Persistent link: https://www.econbiz.de/10010288365
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Sequential Matching Estimation of Dynamic Causal Models
Lechner, Michael - 2004
This paper proposes sequential matching and inverse selection probability weighting to estimate dynamic causal effects. The sequential matching estimators extend simple, matching estimators based on propensity scores for static causal analysis that have been frequently applied in the evaluation...
Persistent link: https://www.econbiz.de/10010261808
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Dynamic Treatment Assignment : The Consequences for Evaluations Using Observational Data
Fredriksson, Peter; Johansson, Per - 2004
This paper discusses the evaluation problem using observational data when the timing of treatment is an outcome of a stochastic process. We show that the duration framework in discrete time provides a fertile ground for effect evaluations. We suggest easy-to-use nonparametric survival function...
Persistent link: https://www.econbiz.de/10010261825
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Identification and Estimation of Economic Models of Outmigration Using Panel Attrition
Bellemare, Charles - 2004
Because their departures are difficultly observed, little is known about the performance of immigrants who leave a region and move to another. This paper shows conditions under which the (conditional) outmigration probability, work probability and the expected earnings of outmigrants are...
Persistent link: https://www.econbiz.de/10010261828
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A Structural Labour Supply Model with Nonparametric Preferences
van Soest, Arthur; Das, Marcel; Gong, Xiaodong - 2000
Nonparametric techniques are usually seen as a statistic device for data description and exploration, and not as a tool for estimating models with a richer economic structure, which are often required for policy analysis. This paper presents an example where nonparametric flexibility can be...
Persistent link: https://www.econbiz.de/10010262417
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Nonparametric IV Estimation of Local Average Treatment Effects with Covariates
Frölich, Markus - 2002
In this paper nonparametric instrumental variable estimation of local average treatment effects (LATE) is extended to incorporate confounding covariates. Estimation of local average treatment effects is appealing since their identification relies on much weaker assumptions than the...
Persistent link: https://www.econbiz.de/10010262665