To deter entry into new product markets, firms most often use the creation of product loyalty through advertising and the preemption of markets through numerous and broad patents. Filling all product niches, making the results for highly profitable division, and advertising are used most...

Recent survey validation studies suggest that measurement error in earnings data is pervasive and violates classical measurement error assumptions and, therefore, may bias estimation of cross-section and longitudinal earnings models. The authors model the structure of earnings measurement error...

When land markets are incomplete, parcels can be scaled to make control compatible with use and to internalize externalities. The authors show that an arbitrage-proof equilibrium implies an increasing and strictly concave relationship between the value and size of land parcels. Undeveloped land...

Mixed logit models, also called random-parameters or errorcomponents logit, are a generalization of standard logit that do not exhibit the restrictive "independence from irrelevant alternatives" property and explicitly account for correlations in unobserved utility over repeated choices by each...