The random coefficient autoregressive Markov regime switching model (RCARRS) for estimating optimal hedge ratios, which generalizes the random coefficient autoregressive (RCAR) and Markov regime switching (MRS) models, is introduced. RCARRS, RCAR, MRS, BEKK‐GARCH, CC‐GARCH, and OLS are...

This study investigates the Indian market for GM wheat. First, we address the obvious valuation and acceptance questions for Indian consumers. Then we investigate the extent to which the provision of information about GM wheat has any significant effect on consumers' willingness to pay and the...

Properties can be bought by government agencies, land trusts, or private entities for conservation and preservation purposes, such as farmland preservation, wildlife refuges, other conservation, and cultural and historical preservation. There is variation in the dollars paid per acre across...

This study uses a travel-cost model to analyse the attendance impacts on Major League Baseball (MLB) of the closest substitute MLB team. It is found that the closer two teams are, the lower attendance is at each team relative to two teams that are farther apart. In addition, when a new team...

Although mass-produced beers still represent the vast majority of U.S. beer sales, there has been a significant growth trend in the craft beer segment. This study analyzes the demand for beer as a differentiated product and estimates own-price, cross-price, and income elasticities for beer by...

This study evaluates the effect of a quick-service restaurant (QSR) strategy which changes de-fault calorie-dense menu items to healthier options on children’ menu consumption behaviors. A series of difference-in-differences (DID) models are estimated to compare sales between treat-ment...

Although mass-produced beers still represent the vast majority of U.S. beer sales, there has been a significant growth trend in the craft beer segment. This study analyzes the demand for beer as a differentiated product and estimates own-price, cross-price and income elasticities for beer by...

Using an economic experiment in conjunction with a survey, we analyze whether consumers’ hypothetical willingness-to-pay responses are effective predictors of actual market behavior. We model revealed preferences as a function of socio-demographic characteristics and instrumental variables...

Many economists have estimated hedonic price functions for red and white wine. However, estimating a single hedonic price function imposes the assumption that the implicit prices of the attributes are the same for any red or white wine. We argue that even within these two categories, wines are...