|
on Discrete Choice Models |
| By: | Lara-Pulido, José Alberto (Universidad Iberoamericana, Centro Transdisciplinar Universitario para la Sustentabilidad (CENTRUS)); Martinez-Cruz, Adan (CERE - the Center for Environmental and Resource Economics) |
| Abstract: | Teleworking from home during the COVID-19 pandemic has faced challenges specific to cities of emerging economies -e.g. lack of access to internet. This paper points out that these challenges may be overcome if teleworking is performed from a shared office located within reasonable commuting time from a worker's home. In November and December 2019, a sample of office workers in Mexico City was presented to a discrete choice experiment (DCE) describing alternatives under which they may choose teleworking two days a week from a shared office. Commuting time to shared offices is an attribute taking four values -within 15 minutes, 30 minutes, 45 minutes, or 60 minutes walking distance from a worker's home. Availability of spaces to park bikes is another attribute. The price attribute is described as the amount that would be cut from worker's monthly paycheck. Based on random parameter logit specifications, willingness to pay (WTP) for teleworking from a shared office two days a week is estimated at (2019) MXP 1,460 (USD 76.68) on a monthly basis. Average value of one-hour of commuting time is estimated at MXP 73.75 (USD 3.87). Average WTP for bike parking is MXP 280 (USD 14.07) on a monthly basis. |
| Keywords: | Teleworking; near-home shared office; value of commuting time; value of bike parking; discrete choice experiment; Mexico City. |
| JEL: | R39 R41 |
| Date: | 2021–01–11 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:slucer:2021_002&r=all |
| By: | Gair, J. R.; Iyer, S.; Velu, C. |
| Abstract: | We examine a number of probabilistic choice models in which people might form their beliefs to play their strategies in a game theoretic setting in order to propose alternative equilibrium concepts to the Nash equilibrium. In particular, we evaluate the Blavatskyy model, Returns Based Beliefs (RBB) model, Quantal Response Equilibrium (QRE) model, Boundedly Rational Nash Equilibrium (BRNE) model and the Utility Proportional Beliefs (UPB) model. We outline the foundational axioms for these models and fully explicate them in terms of probabilistic actions, probabilistic beliefs and their epistemic characterizations. We test the model predictions using empirical data and show which models perform better under which conditions. We also extend the Blavatskyy model which was developed to consider games with two actions to cases where there are three or more actions. We provide a nuanced understanding of how different types of probabilistic choice models might predict better than others. |
| Keywords: | Subjective Probabilities, Decision Making, Cooperation |
| Date: | 2021–01–04 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:2102&r=all |
| By: | V A Hajivassiliou; Frédérique Savignac; Frédérique Savignac |
| Abstract: | We develop novel methods for establishing coherency conditions in Static and Dynamic Limited Dependent Variables (LDV) Models. We propose estimation strategies based on Conditional Maximum Likelihood Estimation for simultaneous LDV models without imposing recursivity. Monte-Carlo experiments confirm substantive Mean-Squared-Error improvements of our approach over other estimators. We analyse the impact of financing constraints on innovation: ceteris paribus, a firm facing binding finance constraints is substantially less likely to undertake innovation, while the probability that a firm encounters a binding finance constraint more than doubles if the firm is innovative. A strong role for state dependence in dynamic versions of our models is also established. |
| Keywords: | Financing Constraints, Innovation, Dynamic Limited Dependent Variable Models, Joint Bivariate Probit Model, Econometric Coherency Conditions, State Dependence |
| JEL: | C51 C52 C15 |
| Date: | 2019–10 |
| URL: | http://d.repec.org/n?u=RePEc:cep:stiecm:606&r=all |
| By: | Christina Appiah-Nimo (Department of Management and Marketing Faculty of Management and Economics Tomas Bata University in Zlin, Czechia. Author-2-Name: Gloria K.Q. Agyapong Author-2-Workplace-Name: Department of Marketing and Supply Chain Management School of Business University of Cape Coast, Ghana Author-3-Name: Daniel Ofori Author-3-Workplace-Name: Department of Marketing and Supply Chain Management School of Business University of Cape Coast, Ghana Author-4-Name: Author-4-Workplace-Name: 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 - Based on the theory of planned behaviour, this study empirically investigated and significantly validated the relationship among hedonistic buying orientation, utilitarian buying orientation, pro-environmental orientation. and willingness to patronise green hotels. Methodology/Technique - This quantitative study used the survey technique in data collection among hotel customers. 208 online surveys were gathered for data analysis. Sem-pls was used to analyse the hypothesised objectives. Findings - The findings indicated that pro-environmental values, hedonistic buying orientation and utilitarian buying orientation all have a positive and significant relationship with their willingness to patronise green hotels. Novelty - The value of this study lies in the novel use of consumer buying orientation as a predictive factor of consumers' willingness to patronise green hotels, and to the best of the authors knowledge, it is among the first to empirically test such relationship. This study is useful to key stakeholders in the hospitality sector and managers of hotels to understand consumers pro-environmental patronage. Type of Paper - Empirical. |
| Keywords: | Consumer buying orientation; willingness to patronise green hotel; pro-environmental value. |
| JEL: | M31 M39 |
| Date: | 2020–12–31 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jmmr261&r=all |
| By: | Ainsworth, Robert (University of Florida); Dehejia, Rajeev (New York University); Pop-Eleches, Cristian (Columbia University); Urquiola, Miguel (Columbia University) |
| Abstract: | This paper examines the roles that information and preferences play in determining whether households choose schools with high value added. We study Romanian school markets using administrative data, a survey, and an experiment. The administrative data show that, on average, households could select schools with 1 s.d. worth of additional value added. This may reflect that households have incorrect beliefs about schools' value added, or that their preferences lead them to prioritize other school traits. We elicit households' beliefs and find that they explain less than a fifth of the variation in value added. We then inform randomly selected households about the value added of the schools in their towns. This improves the accuracy of households' beliefs and leads low-achieving students to attend higher-value added schools. We next estimate households' preferences and predict their choices under the counterfactual of fully accurate beliefs. We find that beliefs account for 18 (11) percent of the value added that households with low- (high-) achieving children leave unexploited. Interestingly, for households with low-achieving children, the experiment seems to have affected both beliefs and preferences. This generates larger effects on choices than would be predicted via impacts on beliefs alone. |
| Keywords: | value added, information intervention, preferences |
| JEL: | I2 C93 D8 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13980&r=all |