In public goods experiments, stochastic choice, censoring, and motivational heterogeneity allow experimentalists to differ over the extent of unselfishness, and whether it is reciprocal or altruistic. These problems are addressed econometrically by estimating a finite mixture model to isolate...

This paper investigates a model utilising the term structure of interest rates to predict output growth and recession in the UK. In contrast to previous literature, information retrieved from the whole yield curve is used rather than just the yield spread. Using di↵erent methods, our...

We design a socially-efficient water tariff in the institutional context of England, where water metering is largely optional and non-metered households are levied proportional to the rateable value (RV) of their property. Within this context, it is theoretically demonstrated that: the larger...

Experimental data on social preferences present a number of features that need to be incorporated in econometric modelling. We explore a variety of econometric modelling approaches to the analysis of such data. The approaches under consideration are: the Random Utility approach (in which it is...

Spousal correlation in risk attitude is estimated using data from the German Socio-Economic Panel over the period 2004–2009. We apply the bivariate panel ordered probit model to the analysis of the simultaneous determination of the male’s and the female’s risk attitude, using the survey...

In time series macroeconometric models, the first difference in the logarithm of a variable is routinely used to represent the rate of change of that variable. It is often overlooked that the assumed approximation is accurate only if the rates of change are small. Models of hyper-inflation are a...

Data from a risky choice experiment are used to estimate a fully parametric stochastic model of risky choice. As is usual with such analyses, Expected Utility Theory is rejected in favour of a form of Rank Dependent Theory. Then an estimate of the risk aversion parameter is deduced for each...

Unlike previous cross-section studies which test predictions from the theory of industrial structure, we do not make an ex ante assumption about the geographical market at which competition takes place. We develop an econometric technique that endogenously determines whether the EU or member...

In time series macroeconometric models, the first difference in the logarithm of a variable is routinely used to represent the rate of change of that variable. It is often overlooked that the assumed approximation is accurate only if the rates of change are small. Models of hyper-inflation are a...

In public goods experiments, stochastic choice, censoring and motivational heterogeneity give scope for disagreement over the extent of unselfishness, and whether it is reciprocal or altruistic. We show that these problems can be addressed econometrically, by estimating a finite mixture model to...