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on Discrete Choice Models |
| By: | Fuchsman, Dillon (Sinquefield Center for Applied Economic Research, Saint Louis University); McGee, Josh (University of Arkansas); Zamarro, Gema (University of Arkansas) |
| Abstract: | Many states have recently made or are considering changes to their teacher retirement systems. However, little is known about how teachers value various elements of their retirement benefits versus other aspects of their jobs and compensation. To help alleviate this gap, we use a discrete choice stated preferences experiment embedded in a nationally representative survey of teachers to estimate their willingness-to-pay for various retirement plan characteristics and other non-salary job components. We find that teachers would be indifferent between a traditional pension and alternative retirement plan designs if the alternatives were paired with 2 to 3 percent salary increases. Our results indicate that experience is a significant mediator of retirement plan preferences. While more experienced teachers are willing to pay more to keep their traditional pension plans, inexperienced teachers do not have strong preferences around retirement plan type. However, teachers’ willingness-to-pay for traditional pension plans is less than their willingness-to-pay for many other elements of their compensation, including the value of retirement benefits, retirement age, salary growth, healthcare coverage, and Social Security enrollment. |
| Keywords: | teacher pensions; stated preferences; discrete choice experiment |
| JEL: | I20 J33 |
| Date: | 2021–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:ris:sluecr:2020_003&r= |
| By: | Steinke, Marek; Trautmann, Stefan |
| Abstract: | Both research and anecdotal evidence suggest that people care about long-run environmental outcomes, but often fail to act sustainably, endangering environmental stability. For a large population sample, we show that people substantially value the environment intrinsically, i.e., even after their own and their kin’s lifespan. Willingness-to-pay for very long-run environmental benefits not experienced by the respondent is similar to that of short-run benefits, experienced by the respondent. However, adding a cooperation problem through uncertainty about other people’s preferences significantly decreases participants’ willingness-to-pay for both time frames, with respondents being pessimistic about others’ willingness to contribute. |
| Date: | 2021–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:awi:wpaper:0706&r= |
| By: | Matias D. Cattaneo; Paul Cheung; Xinwei Ma; Yusufcan Masatlioglu |
| Abstract: | We introduce an Attention Overload Model that captures the idea that alternatives compete for the decision maker's attention, and hence the attention frequency each alternative receives decreases as the choice problem becomes larger. Using this nonparametric restriction on the random attention formation, we show that a fruitful revealed preference theory can be developed, and provide testable implications on the observed choice behavior that can be used to partially identify the decision maker's preference. Furthermore, we provide novel partial identification results on the underlying attention frequency, thereby offering the first nonparametric identification result of (a feature of) the random attention formation mechanism in the literature. Building on our partial identification results, for both preferences and attention frequency, we develop econometric methods for estimation and inference. Importantly, our econometric procedures remain valid even in settings with large number of alternatives and choice problems, an important feature of the economic environment we consider. We also provide a software package in R implementing our empirical methods, and illustrate them in a simulation study. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2110.10650&r= |
| By: | Boaitey, Albert K.; Lai, Yufeng |
| Keywords: | Marketing, Agribusiness, Agricultural and Food Policy |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:313991&r= |
| By: | Jung, Hyojae; Chung, Chanjin |
| Keywords: | Agribusiness, Research Methods/Statistical Methods, Marketing |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:314035&r= |
| By: | Bassem Haidar (LGI - Laboratoire Génie Industriel - CentraleSupélec - Université Paris-Saclay); Maria Teresa Aguilar Rojas |
| Abstract: | Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) offer a promising choice to replace fossil-fuel dependent Internal Combustion Engine Vehicles with a low-emission transport solution. To overcome barriers hindering the purchasing activity, governments, automotive manufacturers, and charging infrastructure operators have deployed market-boosting initiatives. Here, we analyze the influence of socio-demographic, technical, and economic factors on the BEV and PHEV markets, separately, in French departments from 2015 to 2019, using fixed-and random-effects panel data regressions. We find BEV/PHEV models numbers and the gasoline price positively associated with both BEV and PHEV adoption. Contrary to slow-and-normal charger density, fast, ultrafast chargers and financial incentives boost the BEV market. Regarding the PHEV model, only fast charger density had a significant and negative influence on the sales from all charging powers densities. Based on the results, policy recommendations are discussed for the automotive industry, the charging operator, and the local authorities. |
| Keywords: | Charging Infrastructure,Electric Vehicle,Incentives,Panel Data Modelling,Technology Adoption |
| Date: | 2021–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03364044&r= |
| By: | Klitzka, Michael; He, Jianan; Schiereck, Dirk |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:128973&r= |
| By: | Wang, Hong Holly; Moon, Dong Whoi |
| Keywords: | Environmental Economics and Policy, Institutional and Behavioral Economics, Food Consumption/Nutrition/Food Safety |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:314066&r= |
| By: | William Griffiths; Duangkamon Chotikapanich; Gholamreza Hajargasht |
| Abstract: | Formulas are derived for the Gini, Theil and Pietra coefficients for a population-weighted mixture of double Pareto-lognormal distributions; they are applied to South America for two years. Results are also provided for the special case Pareto-lognormal and lognormal distributions. The formulas are useful for measuring regional or global inequality in large-scale projects that utilise double Pareto-lognormal distributions or their special cases. |
| Keywords: | Gini coefficient, Theil index, Pietra index |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:msh:ebswps:2021-14&r= |
| By: | Renato Soeiro; Alberto Pinto |
| Abstract: | The partition of society into groups, polarization, and social networks are part of most conversations today. How do they influence price competition? We discuss Bertrand duopoly equilibria with demand subject to network effects. Contrary to models where network effects depend on one aggregate variable (demand for each choice), partitioning the dependence into groups creates a wealth of pure price equilibria with profit for both price setters, even if positive network effects are the dominant element of the game. If there is some asymmetry in how groups interact, two groups are sufficient. If network effects are based on undirected and unweighted graphs, at least five groups are required but, without other differentiation, outcomes are symmetric. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2110.05891&r= |
| By: | Jean-Pierre Florens; Anna Simoni |
| Abstract: | This paper studies the role played by identification in the Bayesian analysis of statistical and econometric models. First, for unidentified models we demonstrate that there are situations where the introduction of a non-degenerate prior distribution can make a parameter that is nonidentified in frequentist theory identified in Bayesian theory. In other situations, it is preferable to work with the unidentified model and construct a Markov Chain Monte Carlo (MCMC) algorithms for it instead of introducing identifying assumptions. Second, for partially identified models we demonstrate how to construct the prior and posterior distributions for the identified set parameter and how to conduct Bayesian analysis. Finally, for models that contain some parameters that are identified and others that are not we show that marginalizing out the identified parameter from the likelihood with respect to its conditional prior, given the nonidentified parameter, allows the data to be informative about the nonidentified and partially identified parameter. The paper provides examples and simulations that illustrate how to implement our techniques. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2110.09954&r= |
| By: | Islam, Afrin; McCluskey, Jill J. |
| Keywords: | Food Consumption/Nutrition/Food Safety, Health Economics and Policy, Research Methods/Statistical Methods |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:313903&r= |
| By: | Wukuang Cun; M. Hashem Pesaran |
| Abstract: | This paper develops and solves a spatiotemporal equilibrium model in which regional wages and house prices are determined jointly with location-to-location migration flows. The agent’s optimal location choice and the resultant migration process are shown to be Markovian, with the transition probabilities across all location pairs given as non-linear functions of wage and housing cost differentials, endogenously responding to migration flows. The model can be used for the analysis of spatial distribution of population, income, and house prices, as well as for the analysis of the entire dynamic process of shock spill-over effects in regional economies through location-to-location migration. The model is estimated on a panel of 48 mainland U.S. states and the District of Columbia over the training sample (1976-1999) and is shown to fit the data well over the evaluation sample (2000-2014). The estimated model is then used to analyse the size and speed of spatial spill-over effects by computing spatiotemporal impulse responses of positive productivity and land-supply shocks to California, Texas, and Florida. The sensitivity of the results to migration elasticity, housing depreciation rate and local land supply conditions is also investigated. |
| Keywords: | location choice, joint determination of migration and house prices, spatiotemporal impulse responses, land-use deregulation, counterfactual exercise, population allocation, productivity and land supply shocks, California, Texas and Florida |
| JEL: | E00 R23 R31 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_9343&r= |