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Tests for the consistency of three-level nested logit models with utility maximization.

Gil-Moltó, María José; Hole, Arne Risa - EconWPA - 2003

This paper provides necessary conditions for testing the local consistency of three-level nested logit models with random utility maximization. We find that for a model with two sub-nests per nest the conditions can lead to a substantial increase in the range of acceptable dissimilarity...

Persistent link: https://www.econbiz.de/10005556267

Are Oligarchs Productive? Theory and Evidence

Gorodnichenko, Yuriy; Grygorenko, Yegor - EconWPA - 2005

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...

Persistent link: https://www.econbiz.de/10005407700

Greed and Grievance in Civil War

Collier, Paul; Hoeffler, Anke - EconWPA - 2004

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 considerably outperforms grievance. Consistent with the greed theory, both …

Persistent link: https://www.econbiz.de/10005407738

Model Selection and Simplification Using Lattices

Antoch, Jaromir; Hanousek, Jan - EconWPA - 2001

). The mathematical lattice theory is used to define a partial ordering over the space of considered models. Several examples …

Persistent link: https://www.econbiz.de/10005407880

Halton Sequences for Mixed Logit

Train, Kenneth - EconWPA - 2001

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...

Persistent link: https://www.econbiz.de/10005407897

Score Tests of Normality in Bivariate Probit Models

Murphy, Anthony - EconWPA - 2005

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.

Persistent link: https://www.econbiz.de/10005407907

Semiparametric Estimation of Willingness to Pay Distributions

An, Mark Yuying - EconWPA - 1996

Persistent link: https://www.econbiz.de/10005407977

A Panel Data Analysis of General Elections Under Multi Party Electoral College

Kumar, Jayesh - EconWPA - 2003

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...

Persistent link: https://www.econbiz.de/10005408210

Socio-economic characteristics, completed fertility, and the transition from low to high order parities in Mexico

Miranda, Alfonso - EconWPA - 2003

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...

Persistent link: https://www.econbiz.de/10005408297

What a Difference a Day Makes: On the Common Market Microstructure of Trading Days

Gerhard, Frank; Hess, Dieter; Pohlmeier, Winfried - EconWPA - 1999

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...

Persistent link: https://www.econbiz.de/10005413054