Along the standard measures of price dispersion, this paper proposes a new method, the residual variance model, to examine the levels of price and price variation within and across 10 kinds of physically identical products on eBay UK. The results find that the price levels and price dispersions...

This paper investigates household decisions, and optimal taxation in an overlapping generations model in which individual utility depends on a weighted average of consumption of ones peers — a “keeping up with the Joneses” consumption externality. In contrast to representative agent...

The present paper examines a long-run relationship between the energy, bioenergy and food prices. In the recent years the bioenergy production has increased significantly around the world. The increase has been driven by rising energy prices as well as by environmental policies aiming at...

We enquiry about the effects of first and second order stochastic dominance shifts of the distribution of the consumers’ willingness to pay, within the standard model of a market with network externalities and hump-shaped demand curve. This issue is analyzed in the polar cases of perfect...

Using individual-level data for China, Korea, and Japan for 2006, this research examines how life satisfaction for married males and females in East Asian countries is influenced by the age of their children. Our results show (1) the life satisfaction of females who have a child younger than 12...

In this study, using scanner data, collected from super-market transactions in 2009, we estimate an eight equations simultaneous model with a 3SLS routine, with the objective to empirically analyze the Grappa market structure. Results show that the supply side of the Grappa market is...

This work provides a new way to analyze of the effect of electoral system and corruption: through its degree of proportionality. It seems the correct way to consider them because their proportionality degree varies under the same PR, plurality and mixed system. Results show that those degrees of...

We explore how participation in social networking sites (SNS) such as Facebook and Twitter affects the most economically relevant aspect of social capital, trust. We use measures of trust in strangers (or social trust), trust in neighbours and trust in the police. We address endogeneity in the...

This is the first paper that estimates the global land use change impact of growth of the bioenergy sector. Applying time-series analytical mechanisms to fuel, biofuel and agricultural commodity prices and production, we estimate the long-rung relationship between energy prices, bioenergy...

It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the precision of public information or withholding it. The latter seems to be unrealistic. Thus, the issue is not whether central bank should disclose or not its information, but...