Data on willingness-to-pay (WTP) collected from contingent valuation surveys are usuallycensoredat zero. Insuch cases, ordinary least squares estimationof the WTP equation produces inconsistent parameter estimates. The maximum likelihood estimation of the Tobit model, which is widely used in...

The technology-based start-ups have emerged as important drivers of innovative activity across many industries. For these start-ups, the initial public offering (IPO) has been used as a measure for performance and leads to an influx of capital that enables these firms to implement their ideas....

E-mail is an efficient communication tool, but at the same time it is an efficient vehicle for Internet pollution in the form of spam—unsolicited, bulk e-mailings. Spam is a global phenomenon, and debate about possible means of controlling it is lively. Spammers impose a negative externality...