A measure of probability changes in probit and logit dichotomous models is proposed based of the efficient use of sampling information, specifically using the average of the derivatives, as opposed to the traditional practice of calculating the derivative at the mean value. The two strategies...

Using data on 'spread' betting odds for rugby league football this study shows that handicap odds are unbiased and efficient predictors of match results and that, as a proxy for match uncertainty of outcomes, the handicap value is a significant determinant of attendance.

The invariance interpretation of the Coase Theorem is examined using the mobility behaviour of all offensive players (hitters) in Major League Baseball (MLB) who played from 1949 to 1992. Results indicate that while the institution of the rookie draft did not affect the mobility of players, the...

This paper examines the behaviour of the Chinese official CPI relative to a market-based index. The empirical results indicate that the official index underestimates the actual inflation rate and that the bias is time-varying. The biasedness of the official index is attributed to covert price...

This paper utilizes techniques from combinatorics to derive a closed form solution for an estimator of that portion of a Hirschman-Herfindahl index which measures concentration for that segment of the market with unattributed market share. This index makes more complete use of sample information...

This paper presents estimates of a reduced-form unemployment equation for the UK using annual data from 1958 to 1992. It extends previous work by using modern time series econometrics, by focusing on variables that bring about fluctuations around the natural rate as well as variables that...

This alternative method of analysis applies the generalized method of moments developed by Hansen to the conditional restrictions implied by the Fisher effect. This approach has some advantages, i.e. it is robust to the non-normality of the error term, it is unnecessary to formulate the expected...

The rent-sharing literature and the agency literature both predict a link between pay and performance. The rent-sharing literature relies on short-term market power to explain this link, while the agency literature bases its prediction on the importance of incentives in principal-agent...

Within the framework of traditional economic theory a charitable contribution is considered a consumption good. As such, the demand for giving is affected by changes in the price of giving and current income. Moreover, changes in wealth, expected future income, and 'habits' may affect giving....