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Persistent link: https://www.econbiz.de/10011346742
We study identification of preferences in static single-agent discrete choice models where decision makers may be imperfectly informed about the state of the world. We leverage the notion of one-player Bayes Correlated Equilibrium by Bergemann and Morris (2016) to provide a tractable...
Persistent link: https://www.econbiz.de/10014309143
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willingness to pay. Marked preference heterogeneity is an argument against regulation imposing uniformity of contract in Swiss …
Persistent link: https://www.econbiz.de/10002746136
increasing importance in applied work as they allow for taste heterogeneity. This paper discusses the parametrical derivation of …
Persistent link: https://www.econbiz.de/10003900948
This article assesses how the form of the utility function in discrete-choice experiments (DCEs) affects estimates of willingness-to-pay (WTP). The utility function is usually assumed to be linear in its attributes. Non-linearities, in the guise of interactions and higher-order terms, are...
Persistent link: https://www.econbiz.de/10008702182
The usual decomposition of effects in corner solution models into extensive and intensive margins is generally incompatible with a causal interpretation. This paper proposes a decomposition based on the joint distribution of potential outcomes which is meaningful in a causal sense. The...
Persistent link: https://www.econbiz.de/10008702291
and substantial ex ante heterogeneity. …
Persistent link: https://www.econbiz.de/10012583523
. The prevalence of maturity extensions has been hard to reconcile with economic theory. We develop a model of endogenous …
Persistent link: https://www.econbiz.de/10011911551
Persistent link: https://www.econbiz.de/10015326693