The following paper outlines a new econometric model designed to capture both the temporal and spatial dynamics of housing prices. The paper combines existing spatial econometric techniques with a model that allows parameters to evolve over time. In addition, we provide an empirical application...

The objective of this study is to determine if there is a dominant free riding activity which can be identified and used as the basis for measuring free riding, or if multiple free riding actions and/or behaviors coexist within large collective action organizations. The study uses a confirmatory...

We compare the ability of three preference elicitation methods (hypothetical choices, non-hypothetical choices, and non-hypothetical rankings) and three discrete-choice econometric models (the multinomial logit, the independent availability logit, and the random parameter logit) to predict...

Using a series of hurdle choice models, this study considers both nay-saying and yeah-saying to alternatives offered in a conjoint experiment. These behaviors are characterized by respondents persistently choosing the no-choice alternative or choosing at least one of the non-empty options...

This paper explores the economics of input decision by a firm facing production uncertainty. It relies on a state-contingent approach to production uncertainty. First, the paper develops a methodology to specify and estimate cost-minimizing input decisions under a state-contingent technology....

The study evaluates the gains of avoiding data-dependent specification search on an estimation sample in an application to discrete choice models. We incorporate data splitting, the process by which the total available sample is randomly split in two or more sub-samples with the first...

Economic theory is replete with causal hypotheses that are scarcely tested because economists are generally constrained to work with observational data. This article describes the use of causal inference methods for testing a hypothesis that one random variable causes another. Contingent on a...

This essay develops a new method to diagnose inconsistency in dichotomous choice contingent valuation with follow-up questions: in particular, downward bias in the mean WTP. It is shown that the previous methods aimed to explain this inconsistency in responses have ignored statistical...

The functional specification of mean-standard deviation approach is examined under location and scale parameter condition. Firstly, the full set of restrictions imposed on the mean-standard deviation function under the location and scale parameter condition are made clear. Secondly, the...

This paper describes two problems when testing the efficiency of intra-household allocations. First, using Monte Carlo simulations I show that the test proposed for efficiency in consumption has a high type-II error, leading to a false acceptance of the hypothesis. Second, I show it is possible...