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determine the adequate aggregation level of the mutually exclusive alternatives in the choice set. The specification test …
Persistent link: https://www.econbiz.de/10010403834
Previous literature on the distribution of willingness to pay has focused on its heterogeneity distribution without addressing exact interval estimation. In this paper we derive and analyze Bayesian confidence sets for quantifying uncertainty in the determination of willingness to pay for carbon...
Persistent link: https://www.econbiz.de/10009787468
We analyze a client's choice of contract in auctions where Dutch law firms compete for routine cases. The distinguishing feature here is that lawyers may submit bids with any fee arrangement they prefer: an hourly rate, a fixed fee or a mixed fee, which is a time-capped fixed fee plus an hourly...
Persistent link: https://www.econbiz.de/10010240049
Lone mothers are overrepresented among poor people in many European countries. In 1998, in Norway, a welfare reform increased the amount of benefits and introduced working requirements. Using a quasi-experimental model, Mogstad and Pronzato (2012) find a positive effect of the reform on lone...
Persistent link: https://www.econbiz.de/10009786019
We analyze a client's choice of contract in auctions where Dutch law firms compete for cases. The distinguishing feature is that lawyers may submit bids with any fee arrangement they prefer: an hourly rate, a fixed fee or a \mixed fee," which is a time-capped fixed fee plus an hourly rate for...
Persistent link: https://www.econbiz.de/10010496901
This paper proposes an empirical analysis of the sensitivity of Discrete Choice Model (DCM) to the size of the spatial units used as choice set (which relates to the well-known Modifiable Areal Unit Problem). Job's location choices in Brussels (Belgium) are used as the case study. DCMs are...
Persistent link: https://www.econbiz.de/10011304174
We estimate the incremental financing decision for a sample of some 150Dutch companies for the years 1984 through 1997, thereby distinguishinginternal finance and three types of external finance: bank borrowing, bondissues and share issues. First, we estimate a multinomial logit model...
Persistent link: https://www.econbiz.de/10011327550
What is the effect of funding costs on the conditional probability of issuing a corporate bond? We study this question in a novel dataset covering 5610 issuances by US firms over the period from 1990 to 2014. Identification of this effect is complicated because of unobserved, common shocks such...
Persistent link: https://www.econbiz.de/10011581544
The main objective of this study is to determine the effects of economic and social inequalities on academic success and to test whether the cycle of inequality is active through education. This objective is accomplished using classical and Bayesian discrete choice models for the sample obtained...
Persistent link: https://www.econbiz.de/10015054104
We propose a generic algorithm for numerically accurate likelihood evaluation of a broad class of spatial models characterized by a high-dimensional latent Gaussian process and non-Gaussian response variables. The class of models under consideration includes specifications for discrete choices,...
Persistent link: https://www.econbiz.de/10013036112