Housing Demand in Germany and Japan Paper in memoriam of Stephen Mayo

The nested logit model h s become an important tool for the empirical n lysis of discrete outcomes.There is some confusion about its speci fication of the outcome prob bilities.Two m jor v riants show up in the liter ture.This paper compares both nd finds th t one of them (called random...

National housing markets differ in many aspects, making cross-national studies a fascinating subject. This article sheds light on housing demand in Germany and Japan. The primary task undertaken is to separate cross-national differences in the structure of housing demand by differing preferences...

Der Abbau der Schwankungsreserve war in jüngster Zeit wieder einmal Gegenstand der politischen Diskussionen zur Stabilisierung des Rentenversicherungsbeitragssatzes. Im folgenden wird die Funktion der Schwankungsreserve näher untersucht und berechnet, in welchem Umfang sie vorgehalten werden...

The nested logit model has become an important tool for the empirical analysis of discrete outcomes. There is some confusion about its specification of the outcome probabilities. Two major variants show up in the literature. This paper compares both and finds that one of them (called random...