El estudio de las preferencias es uno de los temas menos tratados por la econometría aplicada. En el presente artículo se pretende realizar una aproximación translogarítimica de las preferencias por medio de la construcción de un Índice de Satisfacción de los Hogares (ISH) con base al...

This paper develops a partial equilibrium model to account for stylized facts about the behavior of oligarchs, politically and economically strong conglomerates in transition and developing countries. The model predicts that oligarchs are more likely than other owners to invest in productivity...

We investigate the causes of civil war, using a new data set of wars during 1960-99. We test a `greed’ theory focusing on the ability to finance rebellion, against a`grievance’ theory focusing on ethnic and religious divisions, political repression and inequality. We find that greed...

This paper shows how to cope with a problem of model selection and simplification using the principle of coherence (Gabriel (1969): A procedure involving testing a set of models ought not accept a model while rejecting a more general model). The mathematical lattice theory is used to define a...

The simulation variance in the estimation of mixed logit parameters is found, in our application, to be lower with 100 Halton draws than with 1000 random draws. This finding confirms Bhat's (1999a) results and implies significant reduction in run times for mixed logit estimation. Further...

A relatively simple and convenient score test of normality in the bivariate probit model is derived. Monte Carlo simulations show that the small sample performance of the bootstrapped test is quite good. The test may be readily extended to testing normality in related models.

We analyze the probability of an incumbents winning in the consecutive election, under the assumption that all individual candidates are equally likely (i.e. random selection) when they are from the same party. We estimate the probability of winning by ruling party. Using Indian panel data from...

The present paper reports a study on the socio-economic determinants of completed fertility in Mexico. Special attention is given to how socio- economic factors such as religion and ethnic group affect the likelihood of transition from low to high order parities. This methodological approach...

This paper analyzes the interday stability of the price process using transaction data. While the vast majority of empirical studies on the microstructure of financial markets rests on the tacit assumption that observed prices are generated by a time-invariant price process, we question this...