In models with unobserved taste heterogeneity, distributional assumptions can be placed in two ways: (1) by specifying the distribution of coefficients in the utility function and deriving the distribution of willingness to pay (wtp), or (2) by specifying the distribution of wtp and deriving the...

This paper provides an insight into the antitrust investigationinitiated by the French competition authority, which found that mobileoperators exchanged strategic information and agreed to fix marketshares in years the 2000-2002. The empirical analysis is based on thecomparison of mobile markets...

Although mixed logit models are common in stated preference applications, resulting welfare estimates can be sensitive to minor changes in specification. This can be of critical relevance for policy and welfare analysis, particularly if policymakers are unaware of practical implications. Drawing...

Vaccines against several common foodborne pathogens are being developed and could substantially alter the policy tools available to address foodborne illness. However, little analysis is available to suggest how social welfare would be affected by these new vaccines. To address this void, we use...

Individuals are widely believed to overstate their economic valuation of a good by a factor of two or three. This paper reports the results of a meta-analysis of hypothetical bias in 28 stated preference valuation studies that report monetary willingness-to-pay and that used the same mechanism...

The hotel industry continues embracing loyalty/rewards programs as a major platform to nurture customer relationships as well as reap return business. The reality is that major hotels have been aggressively spending more but achieve less in defending existing customers. We address this void by...

Corporate social responsibility (CSR) has received considerable research attention over the past several decades, including a growing body of work examining consumer responses to firms’ socially-responsible initiatives. Much of this has been of an experimental design, with CSR narrowly focused...