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on Discrete Choice Models |
| By: | Jose Apesteguia; Miguel Ángel Ballester |
| Abstract: | We provide revealed preference foundations to ordered logit, for discrete and continuous decision problems. In both cases, the axiomatizations are based on a simple property that reflects the additivity of cumulative logits. |
| Keywords: | ordered logit, cumulative logit, Revealed Preferences |
| JEL: | C00 D00 |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:1323&r= |
| By: | Piotr Lewandowski; Katarzyna Lipowska; Mateusz Smoter |
| Abstract: | Working from home became widespread during the COVID-19 pandemic, but workers’ and employers’ preferences towards it may diverge when the world of work “returns to normal†. We study workers’ and employers’ willingness to pay for working from home using discrete choice experiments with more than 10,000 workers and more than 1,500 employers in Poland. We randomised wage differences between otherwise identical home- and office-based jobs and between otherwise identical job candidates. We found that demand for working from home was substantially higher among workers than among employers. Most workers would prefer to work from home if offered the same wage for a home-based job as for an office-based job, while most employers would prefer to hire an office-based worker. On average, workers would sacrifice 5.1% of their earnings for the option to work from home, especially for 2-3 days a week (7.3%) rather than five days a week (2.8%). On average, employers expect a wage cut of 40.7% from candidates who want to work from home. This gap in the valuations of WfH reflects mainly the additional effort required from managers, followed by their assessments of productivity loss resulting from WfH, and the discrepancy between employers’ and workers’ valuations of benefits that WfH offers workers. Only among the minority of employers who find that working from home brings productivity gains, managers’ valuation of working from home aligns with workers' willingness to pay for it. |
| Keywords: | working from home, willingness to pay, discrete choice experiment |
| JEL: | J21 J44 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:ibt:wpaper:wp052022&r= |
| By: | Victor Champonnois (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Olivier Chanel (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Costin Protopopescu (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Recurring statistical issues such as censoring, selection and heteroskedasticity often impact the analysis of observational data. We investigate the potential advantages of models based on quantile regression (QR) for addressing these issues, with a particular focus on willingness to pay-type data. We gather analytical arguments showing how QR can tackle these issues. We show by means of a Monte Carlo experiment how censored QR (CQR)-based methods perform compared to standard models. We empirically contrast four models on flood risk data. Our findings confirm that selection-censored models based on QR are useful for simultaneously tackling issues often present in observational data. |
| Keywords: | Censored Quantile Regression,Contingent Valuation,Flood,Monte Carlo Experiment,Quantile Regression,Selection Model,Willingness to Pay |
| Date: | 2022–07–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03739861&r= |
| By: | Jean Peyhardi (IMAG - Institut Montpelliérain Alexander Grothendieck - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2020–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03227808&r= |
| By: | Sean Horan; Vikram Manjunath |
| Abstract: | Lexicographic composition is a natural way to build an aggregate choice function from component choice functions. As the name suggests, the components are ordered and choose sequentially. The sets that subsequent components select from are constrained by the choices made by earlier choice functions. The specific constraints affect whether properties like path independence are preserved. For several domains of inputs, we characterize the constraints that ensure such preservation. |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2209.09293&r= |
| By: | Pantelis P. Analytis; Francesco Cerigioni; Alexandros Gelastopoulos; Hrvoje Stojic |
| Abstract: | People's behavior is informed and influenced by other people's choices. In many online technologies, for instance, aggregate information about the choices of other individuals is encoded in the form of rankings. Such rankings, in turn, have a direct impact on people's future choices. What are the long-term dynamics of these rankings, and do the dynamics depend on specific assumptions about people's behavior? In this paper, we propose a general framework for modeling the dynamics in settings where information about peoples' past choices is recorded as a ranking and influences future choices. We find a general condition for convergence, show that it is satisfied by many important models in economics and beyond, and characterize the possible limits in terms of the choice probabilities. |
| Keywords: | ranking, sequential choice, social learning, social influence, inattention, herding |
| JEL: | D01 D11 D83 |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:1318&r= |
| By: | Chung Shin Fung (Business Healthcare Management, International Medical University, Kuala Lumpur, Malaysia Author-2-Name: Safurah Jaafar Author-2-Workplace-Name: Business Healthcare Management, International Medical University, Kuala Lumpur, Malaysia Author-3-Name: Roslan Mohd Ismail Author-3-Workplace-Name: Business Healthcare Management, International Medical University, Kuala Lumpur, Malaysia Author-4-Name: Azrin Syahida Abd Rahim Author-4-Workplace-Name: Business Healthcare Management, International Medical University, Kuala Lumpur, Malaysia Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:) |
| Abstract: | " Objective - Demands for Urban Retirement Environments have attracted much attention in the industry for senior citizens. This study aimed to examine the socio-demographic profile and antecedent factors influencing adults' decisions and preparedness toward retirement environment facilities in two urban settings. Methodology/Technique - This study uses a quantitative cross-sectional approach using the descriptive-normative survey method with a modified self-administered questionnaire. Data was collected in Greater Kuala Lumpur and Kota Kinabalu. Mail survey respondents returned 369 usable questionnaires yielding a 14.5% response rate. Hypotheses were analyzed using the structural model. Finding - The study found that the urban population was receptive to retirement preparation with financial Planning and health insurance commitments. The majority, 72%, engaged with exercise and 80% with lifelong learning activities and profited from a better health status. In addition, 69% to 72% were more well-prepared to welcome home care and daycare service packages. However, it was a natural preference to accept lower fees up to RM300, even though most hold health insurance plans, and the higher-income respondents with more than RM75,000 annual income showed a willingness to pay between RM1000 to RM5000 for institutional care services. Novelty - This study has examined significant relationships between the level of retirement preparedness, namely the three elements, financial Planning, health insurance, and lifelong Learning, with their socio-demographic profile. It also provides the gaps and potential greenfield versus brownfield areas for investment. The aged care providers and insurance companies have a potential niche market in developing and collaborating using the above elements in developing retirement insurance and investment package strategies. Together they can generate more options to build sustainable retirement environment business agenda. Type of Paper - Empirical" |
| Keywords: | Retirement, Financial Planning, Health Insurance, Lifelong Learning, Technology Advancement |
| JEL: | I11 I12 I13 |
| Date: | 2022–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:gjbssr625&r= |