A large body of literature suggests willingness-to-pay is overstated in hypothetical valuation questions as compared to when actual payment is required. Recently, "cheap talk" has been proposed to eliminate the potential bias in hypothetical valuation questions. Cheap talk refers to process of...

This research examines selected empirical properties of duality relationships. Monte Carlo experiments indicate that Hessian matrices estimated from the normalised unrestricted profit, restricted profit and production functions yield conflicting results in the presence of measurement error and...

We use data from an Internet and traditional print mail survey to determine student demand for graduate program attributes. Results reveal that students value graduate program ranking more than stipend level, geographic location, or office/computer facilities. Higher ranked programs, as a whole,...