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on Discrete Choice Models |
| By: | Clive L. Spash (CSIRO Sustainable Ecosystems, Australia) |
| Abstract: | This paper explores the contingent valuation method for environmental valuation. Issues are raised over the validity of the approach as a method of assessing the underlying preferences of individuals. An alternative interpretation is given to the method as a means of exploring underlying motivation in a rich vein of social psychological research. |
| Keywords: | stated preferences, environmental values, social psychology |
| JEL: | B4 D46 D11 D6 Q26 |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:cse:wpaper:2008-04&r=dcm |
| By: | Spencer, Christopher; Harris, Mark; Brooks, Robert |
| Abstract: | Even in the face of a continuously changing economic environment, interest rates often remain unadjusted for long periods. When rates are moved, the norm is for a series of small unidirectional discrete basis-point changes. To explain these phenomena we suggest a two-equation system combining a “long-run” equation explaining a binary decision to change or not change the interest-rate, and a “shortrun” one based on a simple monetary policy rule. We account for unobserved heterogeneity in both equations, applying the model to unique unit-record level data on the voting preferences of Bank of England Monetary Policy Committee (MPC) members. |
| Keywords: | Interest rates; voting; discrete data; ordered models; inflated outcomes; monetary policy committee |
| JEL: | E5 C2 |
| Date: | 2007–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:8509&r=dcm |
| By: | Jeffrey J. Green (Department of Economics, Ball State University); Courtenay C. Stone (Department of Economics, Ball State University); Abera Zegeye (Department of Economics, Ball State University); Thomas A. Charles (Department of Economics, Ball State University) |
| Abstract: | Because statistical analysis requires both familiarity with and the ability to use mathematics, students typically are required to take one or more prerequisite math courses prior to enrolling in the business statistics course. Despite these math prerequisites, however, students find it extremely difficult to learn business statistics. In this study, we use an ordered probit model to examine the effect of alternative prerequisite math course sequences on the grade performance of 1,684 business and economics statistics students at a large Midwestern university. In addition, we show how the imposition of a minimum grade requirement of C- for the math prerequisite course would impact student success in the business statistics course. Although several studies have examined the impact of different math skills on student success in business and economics statistics courses, our study is the first to provide a detailed analysis of the impact of different prerequisite math course sequences on student performance in business statistics. Our study shows that, other things the same, taking more math credit hours, taking math courses that emphasize calculus, and imposing a minimum grade of C- on the prerequisite math course have significantly positive impacts on student grade performance in the business and economics statistics course. |
| Keywords: | introductory business statistics; math prerequisites; math topics; student performance; minimum prerequisite math grade requirement. |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:bsu:wpaper:200802&r=dcm |