This article examines basic features of ranked Conjoint-data, analyzes the adequacy of evaluation methods and proposes improvements for better utilizing the information provided by ranked data. It is shown that commonly used goodness-of-fit measures provide inadequate proxy measures for...

CJ-Analysen werden in der Marktforschung eingesetzt, um metrische Nutzenfunktionen zu ermitteln. Sofern die Eingabedaten in Form einer Rangordnung vorliegen, ist bei der Auswertung eine Skalentransformation vorzunehmen. Am Beispiel einer Conjoint-Anwendung wird aufgezeigt, daß hieraus deutliche...

This paper develops a rigorous econometric framework to investigate the structure of codependence between random variables and to test whether it changes over time. Our approach is based on the computation - over both a test and a benchmark period - of the conditional probability that a random...

This paper argues that forecast estimators should minimise the loss function in a statistical, rather than deterministic, way. We introduce two new elements into the classical econometric analysis: a subjective guess on the variable to be forecasted and a probability reflecting the confidence...

Consider an observed binary regressor D and an unobserved binary variable D*, both of which affect some other variable Y. This paper considers nonparametric identification and estimation of the effect of D on Y , conditioning on D* = 0. For example, suppose Y is a person's wage, the unobserved D...

How do people learn? We assess, in a distribution-free manner, subjects' learning and choice rules in dynamic two-armed bandit (probabilistic reversal learning) experiments. To aid in identification and estimation, we use auxiliary measures of subjects' beliefs, in the form of their...

It is widely admitted that the inverse problem of estimating the distribution of a latent variable X* from an observed sample of X, a contaminated measurement of X*, is ill-posed. This paper shows that measurement error models for self-reporting data are well-posed, assuming the probability of...

A method for treating Contingent Valuation data obtained from a polychotomous response format designed to accommodate respondent uncertainty is developed. The parameters that determine the probability of indefinite responses are estimated and used to truncate utility distributions within a...

In recent years there has been increasing concern about the identification of parameters in dynamic stochastic general equilibrium (DSGE) models. Given the structure of DSGE models it may be difficult to determine whether a parameter is identified. For the researcher using Bayesian methods, a...

Based on new, exceptionally informative and large German linked employer-employee administrative data, we investigate the question whether the omission of important control variables in matching estimation leads to biased impact estimates of typical active labour market programs for the...