The literature on hedonic price indices, such as the adjacent art price index, often uses a logarithmic transformation of the price data to deal with the non-normality. However, this creates the problem of retransforming the predictions back to an economically meaningful scale. This paper...

In the art market there is evidence that arbitrage does not necessarily equalize prices of comparable objects across different cities of sale. The aim of this study is to analyze why the distribution of prices differs between New York (NY) and the Rest of World (RoW). Two questions are...

This paper evaluates the impact of the introduction of global budgeting on dentists’ activity in Taiwan using a unique and rich panel dataset that was created specifically for the task. The panel data for 4424 dentists over 48 months, January 1997 to December 2000, was drawn from the BNHI’s...