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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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Capturing the zero: A new class of zero-augmented distributions and multiplicative error processes
Hautsch, Nikolaus; Malec, Peter; Schienle, Melanie - 2011
We propose a novel approach to model serially dependent positive-valued variables which realize a non-trivial proportion of zero outcomes. This is a typical phenomenon in financial time series observed at high frequencies, such as cumulated trading volumes. We introduce a flexible point-mass...
Persistent link: https://www.econbiz.de/10010308578
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Fast nonparametric classification based on data depth
Lange, Tatjana; Mosler, Karl; Mozharovskyi, Pavlo - 2012
A new procedure, called DD-procedure, is developed to solve the problem of classifying d-dimensional objects into q Ï 2 classes. The procedure is completely nonparametric; it uses q-dimensional depth plots and a very efficient algorithm for discrimination analysis in the depth space [0, 1]q ....
Persistent link: https://www.econbiz.de/10010311009
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Nonparametric analysis of treatment effects in ordered response models
Boes, Stefan - 2007
This paper deals with the identification of treatment effects when the outcome variable is ordered. If outcomes are measured ordinally, previously developed methods to investigate the impact of an endogenous binary regressor on average outcomes cannot be applied as the expectation of an ordered...
Persistent link: https://www.econbiz.de/10010315542
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Convex treatment response and treatment selection
Boes, Stefan - 2010
This paper analyzes the identifying power of weak convexity assumptions in treatment effect models with endogenous selection. The counterfactual distributions are constrained either in terms of the response function, or conditional on the realized treatment, and sharp bounds on the potential...
Persistent link: https://www.econbiz.de/10010315574
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Count data models with unobserved heterogeneity: An empirical likelihood approach
Boes, Stefan - 2007
As previously argued, the correlation between included and omitted regressors generally causes inconsistency of standard estimators for count data models. Using a specific residual function and suitable instruments, a consistent generalized method of moments estimator can be obtained under...
Persistent link: https://www.econbiz.de/10010315597