We characterize axiomatically a stochastic choice model, the consistent-mistakes model (CMM), that describes an error-prone decision maker's choices. In contrast to random utility models, CMMs generate closed-form choice probability. Under the axioms, we uniquely identify from the choices an...

In standard economic growth theory it is assumed that labor force follows exponential growth, a not realistic assumption. As described in [4] the growth of natural populations is more accurately depicted by a logistic growth law. In this paper we analyze how the Ramsey growth model is affected...

Despite its relevance for agricultural production, biodiversity and landscape aesthetics, grazing livestock is rarely considered in research on public landscape preferences. This paper studies public preferences for pasture usage in Germany by the means of a discrete choice experiment. The...

Purpose – The purpose of this paper is to examine the influence of entrepreneurial orientation (EO) dimensions on firm performance in the tourism sector. The goal is twofold: on the one hand, the paper aims to test whether EO dimensions are still significant determinants of performance after...

We estimate business cycle regime switching logit models for G7 countries to determine the effect of duration of the current business cycle phase and of foreign recessions on the likelihood that expansions and recessions come to an end. With respect to expansions in a G7 country, we find that...