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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...
Persistent link: https://www.econbiz.de/10009442000
Prices for nearly all basic commodity rose at unprecedented rates throughout early 2008, only to fall nearly as fast as financial markets and global economies began to collapse. Rising food prices in 2008 led to concerns that commodity price spikes would lead to more general food inflation, but...
Persistent link: https://www.econbiz.de/10009446101
El crecimiento de los tipos de interés pagados por la deuda pública española desde 2008 y la disrupción del mercado interbancario han generado preocupación por sus efectos sobre la competencia del mercado de depósitos bancarios en España. Combino un modelo logit anidado de la oferta de...
Persistent link: https://www.econbiz.de/10012530429
Extract:Australia's domestic airline markets became deregulated on November 1, 1990. A sole new entrant, Compass … Airlines, first flew passengers a month later. A little over one year later, Compass was grounded by its creditors, on December … airlines) blamed Compass management, for the opportunities lost. But all parties probably now agree that there have been …
Persistent link: https://www.econbiz.de/10009441599
paper examines how efficiency has shaped the global airline industry, over the period from 1995 until 2005 to determine … whether a correlation exists between the level of efficiency and airline performance. The findings highlight the imperative …
Persistent link: https://www.econbiz.de/10009457358
I develop and structurally estimate an equilibrium model of the college market. Students, who are heterogeneous in both abilities and preferences, make college application decisions, subject to uncertainty and application costs. Colleges observe only noisy measures of student ability and set up...
Persistent link: https://www.econbiz.de/10009439060
Discrete choice models are widely used in studies of recreation demand. They have proven valuable when modeling situations where decision makers face large choice sets and site substitution is important. However, when the choice set faced by the individual becomes very large (on the order of...
Persistent link: https://www.econbiz.de/10009444726
This article extends the Berry, Levinsohn, Pakes (1995) model to include retail services by Boston supermarkets in an equilibrium model of breakfast cereals and then tests alternative vertical pricing games between manufacturers and supermarkets to ascertain who’s got the pricing power....
Persistent link: https://www.econbiz.de/10009444860
For over the last thirty years the multinomial logit model has been the standard in choice modeling. Development in econometrics and computational algorithms has led to the increasing tendency to opt for more flexible models able to depict more realistically choice behavior. This study compares...
Persistent link: https://www.econbiz.de/10009446136
¿Están las decisiones de portada de los periódicos basadas en las posibles complementariedades entre las noticias? Este trabajo estudia la elección de noticias de portada hecha por los editores de los mayores periódicos impresos de Estados Unidos. Se documenta que las portadas están...
Persistent link: https://www.econbiz.de/10012532138