A space-time filter is set forth for spatial panel data situations that include random effects. We propose a general spatial dynamic specification that encompasses several spatiotemporal models previously used in the panel data literature. We apply the model to the case of highway induced travel...

Bayesian hypothesis testing of a precise null hypothesis suffers from a paradox discovered by Jeffreys (1939), Lindley (1957) and Bartlett (1957). This paradox appears to indicate that the usual priors, both proper and improper, are inappropriate for testing precise null hypotheses, and lead to...

We compare hedonic price models estimated with spatial statistics in order to examine the impacts of four different types of neighborhood spatial association: age, education, income and racial clustering. Using Getis and Ord’s (1995) Z(Gi*) as an indicator of spatial clustering, we estimate...

A space-time filter structure is introduced that can be used to accommodate dependence across space and time in the error components of panel data models that contain random effects. This general specification encompasses several more specific space-time structures that have been used recently...

Mills (2008) examines an alternative procedure for testing precise hypotheses based on specifying a set of precise alternative hypotheses. Mills shows that this method resolves several problems with the standard procedure, particularly the Jeffreys-Lindley-Bartlett paradox, and has desirable...

We examine the effects of a systematic increase in the agents operating costs in a standard agency setting with moral hazard. We identify conditions under which the agent benefits from the increase in his costs. Perhaps more surprisingly, we show that the principal and he agent can both benefit...

Changes in land use patterns impact significantly environmental conditions as well as economic and social welfare. These changes are influenced by socio-economic as well as pedo-climatic factors. A good understanding of how these factors influence land use patterns would provide new dimensions...

Previous research has established that people bid more for houses in high-performing school districts. But what is it about school outcomes that drive house prices: the parents, the peers, or the school inputs? We study the extent that house values are affected by each of the components of an...

We investigate when identical agents will be treated asymmetrically in a simple team setting. Asymmetric treatment is optimal when the agents individual contributions to team performance are complements. Symmetric treatment of identical agents is optimal when the agents contributions are...

We demonstrate the value of equal pay policies in teams, even when team members have distinct abilities and make different contributions to team performance. A commitment to compensate all team members in identical fashion eliminates the incentive that each team member otherwise has to sabotage...