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The milk addiction paradox refers to an empirical finding in which commodities that are typically considered to be non … and when using aggregate data, and it suggests that the AR(2) model typically used in the addiction literature is prone to … produce spurious result in favor of rational addiction. Using both simulated and real data, we show that the milk addiction …
Persistent link: https://www.econbiz.de/10012198438
We consider optional TOU (time-of-use) pricing for residential consumers as an alternative to a single TOU or flat rate structure offered by a publicly regulated electricity supplier. A general equilibrium model is developed and used to explore and quantify the effects of optional pricing on...
Persistent link: https://www.econbiz.de/10011688056
We investigate the relationship between the individual and household indirect utility functions in the context of a collective household model. Our analysis produces new results that explain how the rule governing the distribution of resources among household members is related to the...
Persistent link: https://www.econbiz.de/10011856707
We consider optional TOU (time-of-use) pricing for residential consumers as an alternative to a single TOU or flat rate structure offered by a publicly regulated electricity supplier. A general equilibrium model is developed and used to explore and quantify the effects of optional pricing on...
Persistent link: https://www.econbiz.de/10012961646
We introduce a Bayesian instrumental variable procedure with spatial random effects that handles endogeneity, and spatial dependence with unobserved heterogeneity. We take into account the endogeneity through a system of simultaneous equations where a conditional correlation between the...
Persistent link: https://www.econbiz.de/10013024447
We propose novel tools for the analysis of individual welfare on the basis of aggregate household demand behavior. The method assumes a collective model of household consumption with the public and private nature of goods specified by the empirical analyst. A main distinguishing feature of our...
Persistent link: https://www.econbiz.de/10012941952
Exit, Voice, and Loyalty (A.O. Hirschman 1970) is a theoretical concept derived from the work of Albert O. Hirschman (1970) which is focused on two essential options in organizatios and products decline, being exit and voice.The basis concept is as follows: members of an organization, whether...
Persistent link: https://www.econbiz.de/10014050822
Studies of inequality often ignore resource allocation within the household. In doing so they miss an important element of the distribution of welfare that can vary dramatically depending on overall environmental and economic factors. Thus, measures of inequality that ignore intra household...
Persistent link: https://www.econbiz.de/10013053293
We introduce a Bayesian instrumental variable procedure with spatial random effects that handles endogeneity, and spatial dependence with unobserved heterogeneity. We find through a limited Monte Carlo experiment that our proposal works well in terms of point estimates and prediction. Then, we...
Persistent link: https://www.econbiz.de/10013015657
constructed where individuals choose whether to use opioids recreationally, knowing the probabilities of addiction and dying …-college educated that summarize the transitions into and out of opioid addiction as well as to a deadly overdose. The structural model …
Persistent link: https://www.econbiz.de/10013382024