Mostrando recursos 1 - 9 de 9

  1. A Censored Random Coefficients Model for the Detection of Zero Willingness to Pay

    Reichl, Johannes; Frühwirth-Schnatter, Sylvia
    In this paper we address the problem of negative estimates of willingness to pay. We find that there exist a number of goods and services, especially in the fields of marketing and environmental valuation, for which only zero or positive WTP is meaningful. For the valuation of these goods an econometric model for the analysis of repeated dichotomous choice data is proposed. Our model restricts the domain of the estimates of WTP to strictly positive values, while also allowing for the detection of zero WTP. The model is tested on a simulated and a real data set. (author's abstract)

  2. A Censored Random Coefficients Model for the Detection of Zero Willingness to Pay

    Reichl, Johannes; Frühwirth-Schnatter, Sylvia
    In this paper we address the problem of negative estimates of willingness to pay. We find that there exist a number of goods and services, especially in the fields of marketing and environmental valuation, for which only zero or positive WTP is meaningful. For the valuation of these goods an econometric model for the analysis of repeated dichotomous choice data is proposed. Our model restricts the domain of the estimates of WTP to strictly positive values, while also allowing for the detection of zero WTP. The model is tested on a simulated and a real data set.

  3. A Censored Random Coefficients Model for the Detection of Zero Willingness to Pay

    Reichl, Johannes; Frühwirth-Schnatter, Sylvia
    In this paper we address the problem of negative estimates of willingness to pay. We find that there exist a number of goods and services, especially in the fields of marketing and environmental valuation, for which only zero or positive WTP is meaningful. For the valuation of these goods an econometric model for the analysis of repeated dichotomous choice data is proposed. Our model restricts the domain of the estimates of WTP to strictly positive values, while also allowing for the detection of zero WTP. The model is tested on a simulated and a real data set.

  4. Is WTP an Attitudinal Measure?: Empirical Analysis of the Psychological Explanation for Contingent Values

    Ryan, Anthony M.; Spash, Clive L.
    Contingent valuation has been given a psychological interpretation, by Kahneman and colleagues, that claims willingness to pay bids represent psychological attitudes rather than personal economic valuations. Evidence reported here shows the need to qualify the role of this attitudinal explanation. In contradiction to the attitudinal hypothesis, the decision to bid zero or positive appears to represent a complex psychological appraisal. Furthermore, evidence of bid clustering on currency denominations implies fundamental differences concerning how people respond to a monetary scale. Whether interpreted as charitable contributions or imprecise welfare estimates there are serious implications for how economists interpret and use stated preference responses. (authors' abstract)

  5. How Effective is European Merger Control?

    Duso, Tomaso; Gugler, Klaus; Yurtoglu, Burcin B.
    This paper applies an intuitive approach based on stock market data to a unique dataset of large concentrations during the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and decision abnormal returns. Under a set of four maintained assumptions, merger control might be interpreted to be effective if rents accruing due to the increased market power observed around the merger announcement are reversed by the antitrust decision, i.e. if there is a negative relation between announcement and decision abnormal returns. To clearly identify the events' competitive effects, we explicitly control for the market expectation about the outcome of...

  6. Graphs of Given Order and Size and Minimum Algebraic Connectivity

    Biyikoglu, Türker; Leydold, Josef
    The structure of connected graphs of given size and order that have minimal algebraic connectivity is investigated. It is shown that they must consist of a chain of cliques. Moreover, an upper bound for the number of maximal cliques of size 2 or larger is derived. (author's abstract)

  7. The Community Structure of R&D Cooperation in Europe. Evidence from a social network perspective

    Barber, Michael J.; Fischer, Manfred M.; Scherngell, Thomas
    The focus of this paper is on pre-competitive R&D cooperation across Europe, as captured by R&D joint ventures funded by the European Commission in the time period 1998-2002, within the 5th Framework Program. The cooperations in this Framework Program give rise to a bipartite network with 72,745 network edges between 25,839 actors (representing organizations that include firms, universities, research organizations and public agencies) and 9,490 R&D projects. With this construction, participating actors are linked only through joint projects. In this paper we describe the community identification problem based on the concept of modularity, and use the recently introduced label-propagation algorithm to...

  8. Total Rewards: Präferieren Mitarbeiter monetäre oder non-monetäre Vergütungsressourcen?

    von Poswik, Julia Anette
    Die Dissertation setzt sich mit dem Thema der Vergütung aus einer Perspektive des sozialen Austauschs auseinander. Vergütung wird als das Bereitstellen von monetären und non-monetären Ressourcen durch einen Arbeitgeber definiert. Es werden vier Ressourcenklassen identifiziert, durch welche eine Organisation ihre Mitarbeiter entlohnen kann: Monetäre Vergütung und Nebenleistungen, Arbeitsbedingungen, Karrieremöglichkeiten und Wertschätzung durch das organisationale Umfeld. Die verschiedenen Vergütungsfaktoren und ihre Facetten werden aus wirtschaftspsychologischer, wirtschaftssoziologischer und arbeitsökonomischer Perspektive diskutiert und in Beziehung zu individuellen Merkmalen gesetzt. Im empirischen Teil der Studie wird quantitativ untersucht, ob Arbeitnehmer im tertiären Sektor monetäre vor nonmonetären Vergütungsfaktoren und -facetten präferieren und wie diese Präferenzen...

  9. A spatial Mankiw-Romer-Weil model: Theory and evidence

    Fischer, Manfred M.
    This paper presents a theoretical growth model that extends the Mankiw-Romer-Weil [MRW] model by accounting for technological interdependence among regional economies. Interdependence is assumed to work through spatial externalities caused by disembodied knowledge diffusion. The transition from theory to econometrics leads to a reduced-form empirical spatial Durbin model specification that explains the variation in regional levels of per worker output at steady state. A system of 198 regions across 22 European countries over the period from 1995 to 2004 is used to empirically test the model. Testing is performed by assessing the importance of cross-region technological interdependence, and measuring direct and indirect (spillover) effects of...

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