Showing 1 - 10 of 1,899
rather than another.In this paper, we develop a theory for ranking distribution functions. Our theory offers a general … distribution theory for empirical dominance criteria where it is demonstrated that the associated empirical processes converge in …
Persistent link: https://www.econbiz.de/10013061933
In this paper we show that the double Pareto lognormal (DPLN) parameterization provides an excellent fit to the overall … than previous urban growth frameworks that predict a lognormal or a Pareto city size distribution (Zipf's law) …
Persistent link: https://www.econbiz.de/10013110198
This paper develops a micro-founded city systems model with an endogenous number of cities to explore whether local governments establish the optimal city size when production processes involve environmental pollution. Our analysis delivers two key insights. First, if an optimal scheme to...
Persistent link: https://www.econbiz.de/10012925517
We analyze the role of optimal income taxation across different local labor markets. Should labor in large cities be taxed differently than in small cities? We find that a planner who needs to raise revenue and is constrained by free mobility of labor across cities does not choose equal taxes...
Persistent link: https://www.econbiz.de/10013029153
We develop and estimate a panel data model explaining the answers to questions about subjective probabilities, using data from the US Health and Retirement Study. We explicitly account for nonresponse, rounding, and focal point 50 percent answers. Our results indicate that for three of the four...
Persistent link: https://www.econbiz.de/10013136709
Little is known about how gamblers estimate probabilities from multiple information sources. This paper reports on a preregistered study that administered an incentivized Bayesian choice task to n=465 participants (self-reported gamblers and non-gamblers). Our data failed to support our main...
Persistent link: https://www.econbiz.de/10014346673
Asymptotic and bootstrap tests are studied for testing whether there is a relation of stochastic dominance between two distributions. These tests have a null hypothesis of nondominance, with the advantage that, if this null is rejected, then all that is left is dominance. This also leads us to...
Persistent link: https://www.econbiz.de/10014059083
This paper proposes a decomposition of the composition effect, i.e. the part of the observed between-group difference in the distribution of some economic outcome that can be explained by differences in the distribution of covariates. Our decomposition contains three types of components: (i) the...
Persistent link: https://www.econbiz.de/10013109424
Bivariate duration data frequently arise in economics, biostatistics and other areas. In "bivariate frailty models", dependence between the frailties (i.e., unobserved determinants) induces dependence between the durations. Using notions of quadrant dependence, we study restrictions that this...
Persistent link: https://www.econbiz.de/10013055564
This paper analyzes the stability and distribution of ambiguity attitudes using a broad population sample. Using high-powered incentives, we collected six waves of data on ambiguity attitudes about financial markets – our main application – and climate change. Estimating a structural...
Persistent link: https://www.econbiz.de/10014236203