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This paper describes a semiparametric Bayesian method for analyzing duration data. The proposed estimator specifies a complete functional form for duration spells, but allows flexibility by introducing an individual heterogeneity term, which follows a Dirichlet mixture distribution. I show how...
Persistent link: https://www.econbiz.de/10010276176
This paper describes a semiparametric Bayesian method for analyzing duration data. The proposed estimator specifies a complete functional form for duration spells, but allows flexibility by introducing an individual heterogeneity term, which follows a Dirichlet mixture distribution. I show how...
Persistent link: https://www.econbiz.de/10005703270
unification. In particular, we deduce an Equivalent Variation measure from a logarithmic demand function and a budget constraint …
Persistent link: https://www.econbiz.de/10013024447
We introduce a Bayesian instrumental variable procedure with spatial random effects that handles endogeneity, and spatial dependence with unobserved heterogeneity. We find through a limited Monte Carlo experiment that our proposal works well in terms of point estimates and prediction. Then, we...
Persistent link: https://www.econbiz.de/10013015657
We study how multi-attribute product choices are affected by peer influence. We propose a two-stage conjoint based approach to examine three behavioral mechanisms of peer influence. We find that when faced with information on peer choices, consumers update their attribute preferences in a...
Persistent link: https://www.econbiz.de/10014044565
Electricity demand is modeled as a time-varying parameters (TVP) vector autoegression with or without imposing …
Persistent link: https://www.econbiz.de/10014193091
Estimating demand for wide assortments of differentiated goods requires the specification of a demand system that is … parameters within a log-linear demand system where the number of price elasticity parameters grows quadratically in the number of … elasticities and demand predictions can be improved by imposing shrinkage to higher-level group effects rather than zero …
Persistent link: https://www.econbiz.de/10013231133
external demand forecast faster than is currently possible. The external demand forecast helps to forecast exports and, through … with the help thereof - their external demand, relying on BVAR models and using monthly time series (confidence indices … than on the rolling sample. The forecast of external demand is also more accurate if we use the whole sample. The most …
Persistent link: https://www.econbiz.de/10011817352
We propose a demand estimation method that allows for a large number of zerosale observations, rich unobserved … an empirical application of air travel demand. …
Persistent link: https://www.econbiz.de/10014496506
We propose an approach to modeling and estimating discrete choice demand that allows for a large number of zero sale … empirical application of air travel demand where product-level sales are sparse. We find considerable variation in demand over … time. Periods of peak demand feature both larger market sizes and consumers with higher willingness to pay. This amplifies …
Persistent link: https://www.econbiz.de/10013312178