This paper examines consumer preferences for Internet bandwidth, focusing on technical ability and urban/rural location as sources of preference heterogeneity. An economic model is outlined that shows that ability decreases ...
With the ?discovery? of scanner data by statistical agencies and researchers comes a wealth of new information upon which price index calculations can be based. Old problems, such as the appearance and disappearance of ...
In recent decades, U.S. foreign trade grew much faster than GDP, but there is no consensus why. Notably lacking is an understanding of the role of multinational corporations (MNCs), which mediate over half of world trade. ...
Stewart, M.; Bridges, J. F; Van Gool, K.; King, M.(Springer Science and Business Media Inc, 2005)
Portfolio theory is central to the analysis
of risk in many areas of economics but is
seldom used appropriately in health economics.
This contribution examines the use
of portfolio theory in the context of cost-effec ...
Intra-firm trade in intermediates between U.S. multinational parents (MNCs) and their Canadian manufacturing affiliates increased dramatically in the 1984 1995 period (i.e., it roughly doubled). Tariff and transport ...
It is proposed to sample antithetically rather than randomly from the posterior density in Bayesian inference using Monte Carlo integration. Conditions are established under which the number of replications required with ...
Abstract: In this paper the concept of approximate slope, introduced by R. R. Bahadur, is used to make asymptotic global power comparisons of econometric tests. The approximate slope of a test is the rate at which the ...
In finance and economics the key dynamics are often specified via stochastic differential equations (SDEs) of jump-diffusion type. The class of jump-diffusion SDEs that admits explicit solutions is rather limited. ...
Keane, Michael; Runkle, D(Federal Reserve Bank of Minneapolis, 1989)
his paper discusses at an undergraduate level how forecast rationality can be tested. It explains that forecasters should correctly use any relevant information they knew in making their predictions. It shows that forecast ...
Keane, Michael; Runkle, De(Univ Chicago Press, 1998)
This paper develops generalized method-of-moments tests for the rationality of earnings per share forecasts made by individual stock analysts. We fail to reject the hypothesis of rationality as long as we take into account ...
Given the large number of food choices that consumers make each day it seems likely that they will adopt decision strategies that minimize cognitive effort. We develop a conceptual and empirical model of habitual choice, ...
Bird, Ronald; Mccrae, M; Beggs, J(Australian Economic Papers, 1987)
This paper examines the attitudes of gamblers to risk as displayed by their betting behaviour on horse races. Although traditional economic theory assumes that individuals are averse to risk, numerous authors (e.g. Ali ...
Background Antineoplastic drugs for cancer are often associated with adverse events, which influence patients' physical health, quality of life and survival. However, the modelling of adverse events in cost-effectiveness ...
Keane, Michael; Roemer, Je(Elsevier Science Sa, 2009)
The inter-generational correlation of education in the U.S. is tremendous. For instance, in PSID data from 1990, young males with college-educated parents had a 70% chance of attending college. But those with high school ...
This paper considers a discrete-time model of a financial market with one risky asset and one risk-free asset, where the asset price and wealth dynamics are determined by the interaction of two groups of agents, fundamentalists ...
The dynamics of a financial market with heterogeneous agents are analyzed under different market architectures. We start with a tractable behavioral model under Walrasian market clearing and simulate it under different ...
Objective: Abdominal aortic aneurysms (AAAs) are associated with generalized arterial dilation, torturosity, and altered matrix composition, which suggests a generalized systemic weakness throughout the entire vasculature. ...