A common approach to dealing with missing data is to estimate the model on the common subset of data, by necessity throwing away potentially useful data. We derive a new probit type estimator for models with missing covariate data where the dependent variable is binary. For the benchmark case of...

There is a large literature estimating Arrow-Pratt coefficients of absolute and relative risk aversion. A striking feature of this literature is the very wide variation in the reported estimates of the coefficients. While there are often legitimate reasons for these differences in the estimates,...

There are relatively few known demand systems that are theoretically satisfactory and practically implementable. This paper considers the possibility of deriving more complex demand systems from simpler known ones by considering sums and products of the component indirect utility functions, an...

Evaluations of programmes — for example, labour market interventions such as employment schemes and training courses — usually involve comparison of the performance of a treatment group (recipients of the programme) with a control group (non-recipients) as regards some response (gaining...

The idea that probability distribution functions could provide appropriate mathematical forms for utility functions representing risk aversion is of respectable antiquity. But the relatively few examples that have appeared in the economics literature have displayed quite restrictive risk...

When “income” in a system of demand equations is defined as total expenditure, actual expenditure on any commodity must lie between zero and income, or equivalently, budget shares must lie between zero and one. But models for expenditures or shares are often the sum of deterministic...

This paper reviews the international literature on house price indices, looking at the basic methodologies employed, the variables chosen for the indices and the functional forms used. Ideas are sought for future improvements to an Irish index and tentative assessments are made of how Irish...

The idea that probability distribution functions could provide appropriate mathematical forms for utility functions representing risk aversion is of respectable antiquity. But the relatively few examples that have appeared in the economics literature have displayed quite restrictive risk...