This paper uses an original panel dataset with posted prices and sales to estimate a dynamic demand. We find that consumers become more price sensitive as time to departure nears which is consistent with having lower valuations. This result provides empirical support to a key theoretical...

Using Lorenz-type curves, means tests, ordinary least squares, and locally weighted regressions (LWR), we examine the relative burdens of whites, blacks, and Hispanics in Georgia from road and air traffic noise. We find that whites bear less noise than either blacks or Hispanics and that blacks...

Traffic congestion contributes to longer travel times and increased travel time variability. We account for the dynamic nature of travellers' choices, by deriving a closed-form solution for the costs of travel time variability. The resulting travel delay cost function is linear in the mean...

We propose an econometric procedure to test for the presence of overconfidence using data collected by ranking experiments. Our approach applies the techniques from the moment inequality literature. Although a ranking experiment is a typical way to collect data for the analysis of...

In this paper we introduce a test for the normality assumption in the sample selection model. The test is based on a generalization of a semi-nonparametric maximum likelihood method. In this estimation method, the distribution of the error terms is approximated by a Hermite series, with...

The paper considers a SUTSE model embedded in a dynamic framework to estimate an energy cost share model for the Italian economy in an evolutionary environment. This is achieved by allowing stochastic seasonal and trend components in the long-run specification and constructing an error...

Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact in the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between...

Drawing on a panel of German survey data spanning 1997-2013, this paper identifi es the correlates of non-recreational bicycling, focusing specifically on the roles of bicycle paths and fuel prices. Our approach conceptualizes ridership as a two stage decision process comprising the discrete...

The main purpose of this survey paper is to consider the attempts that have been made to apply economic theory and empirical methods to the analysis of electricity markets, and to evaluate them in light of theoretical considerations and empirical evidence. We describe the key features of the...