The aim of this study was to compare hypothetical and real willingness to pay (WTP) in an experimental setting by eliciting WTP for a private good, a box of chocolates. The experimental subjects were randomly divided into two groups. One group received an open-ended hypothetical WTP question and...

The effect of extended trading hours in Hong Kong stocks, resulting from the development of the SEAQ International London market in such stocks, is considered here. This market, which opens shortly after the close of the Hong Kong market, appears to have produced some modulation in the mean and...

This paper analyses trade union membership with respect to the Association of University Teachers representing academic and related staff in the 'old' UK higher education sector. It therefore negates the difficulties encountered with prior cross-sectional research concerning unionized and...

The standard approach to seasonality uses quarterly data and shift dummies to allow for intercept variation. The model presented here includes a distinct festive dummy and is thus more precise

An unrecognized problem is examined in a frequently used method for decomposing earnings functions in the measurement of discrimination. The conventional method decomposes changes in the log of the geometric mean of the distribution, as opposed to the correct quantity, which is the change in the...

Brady, Assane and Karstensson in their earlier paper (1994) in this journal estimated a translog cost model of college and university health centres. They reported economies of scale estimates, as well as mean value elasticity estimates for factor demands and substitutions. In this comment, we:...

This paper investigates the direct and indirect effects of budget deficit on inflation in Greece for the period 1957-93. The empirical analysis employs tests of cointegration, as suggested by Johansen and Juselius, as pretests for Granger tests of causality. The empirical evidence suggests that...

The Lucas supply curve is tested using EEC price expectational data. The tests failed to find any evidence of a positively sloped aggregate supply curve due to worker and producer misperception.

In this paper, we have investigated the deterrent effects of sanctions and severity of punishment on crime rates based on the experience of Hong Kong. The effects of socio-economic variables such as unemployment rate, poverty, number of illegal immigrants, and total population on crime rates are...

Internal rates on return to investment in higher secondary, university and non-university higher education in Belgium (1992) are presented. Private, social and fiscal returns are distinguished. Private and social returns are low for secondary education, but substantially higher than long-run...