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Technical change is inherently unobservable and has conventionally been represented by proxy variables, from simple time trends to more sophisticated knowledge stock variables. This paper follows Lambert and Shonkwiler (1995) in modelling technical change as a stochastic unobservable variable...
Persistent link: https://www.econbiz.de/10005484555
This paper employs a latent variable approach to isolate the effects of changing tastes on the share of total meat expenditure on different categories of meat products in Greece during the period 1965–1995. We find that changes in the relative expenditure on different categories of meat cannot...
Persistent link: https://www.econbiz.de/10009455696
Technical change is inherently unobservable and has conventionally been represented by proxy variables, from simple time trends to more sophisticated knowledge stock variables. This paper follows Lambert and Shonkwiler (1995) in modelling technical change as a stochastic unobservable variable...
Persistent link: https://www.econbiz.de/10009455698
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We introduce a modified conditional logit model that takes account of uncertainty associated with mis-reporting in revealed preference experiments estimating willingness-to-pay (WTP). Like Hausman "et al". ["Journal of Econometrics" (1988) Vol. 87, pp. 239-269], our model captures the extent and...
Persistent link: https://www.econbiz.de/10005682174