A two-stage Rotterdam model is estimated to determine the effects of advertising on the demand for non-alcoholic beverages in the United States. Results suggest that advertising has no effect on the demand for non-alcoholic beverages taken as a group. However, the hypothesis that advertising has...

Advertising can rotate the demand curve if it changes the dispersion of consumers' valuations. We provide an elasticity form measure of the advertising-induced demand curve rotation in five demand models and test for its presence in the US non-alcoholic beverage market. The Almost Ideal Demand...

Model selection and model averaging are popular approaches for handling modeling uncertainties. The existing literature offers a unified framework for variable selection via penalized likelihood and the tuning parameter selection is vital for consistent selection and optimal estimation. Few...

This paper aims to enrich the understanding and modelling strategies for cryptocurrency markets by investigating major cryptocurrencies' returns determinants and forecast their returns. To handle model uncertainty when modelling cryptocurrencies, we conduct model selection for an autoregressive...