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on Discrete Choice Models |
| By: | Patrick Carlin; Brian E. Dixon; Kosali I. Simon; Ryan Sullivan; Coady Wing |
| Abstract: | Two discrete choice experiments conducted early in the Covid-19 vaccination campaign show that people dramatically undervalue the Covid-19 vaccine, relative to benchmarks implied by the value of a statistical life (VSL). Our first experiment found that median willingness to pay (WTP) for initial vaccination is around $50, only 2 percent of the WTP implied by standard VSL calculations. Our second experiment found the median person was willing to accept (WTA) about $200 to delay the second dose, only 32 percent of the WTA implied by standard VSL calculations. While standard economic models imply that vaccines are undervalued because of their large externalities, we interpret the finding that WTP estimates are well below the VSL benchmarks as evidence that internalities play a substantial role. This evidence that people undervalue even the private benefits of vaccination suggests that there may be a role for government beyond conventional efforts to correct externalities. |
| JEL: | H0 I0 I12 I18 I28 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:30118&r= |
| By: | Wong, Stephen D. PhD; Shaheen, Susan A. PhD; Martin, Elliot PhD; Uyeki, Robert |
| Abstract: | Climate change and environmental problems have spurred new strategies to reduce fossil fuel consumption in transportation. Two important strategies include a rapid transition to green energy and the replacement of internal combustion vehicles with electric vehicles (EVs). However, the increasing demand for electricity by EVs, especially from time-dependent green sources of energy (e.g., solar, wind), will likely overload the grid at peak hours. Rather than build costly infrastructure improvements for distribution and generation, smart charging programs for EVs could defer charging to off-peak times and better match demand with supply. Yet, little is currently known about people’s willingness to participate in a program and relinquish control of charging to a third party. |
| Keywords: | Engineering |
| Date: | 2022–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:itsrrp:qt98z4b5rr&r= |
| By: | Elliot Lipnowski; Doron Ravid |
| Abstract: | An agent acquires a costly flexible signal before making a decision. We explore the degree to which knowledge of the agent's information costs helps predict her behavior. We establish an impossibility result: learning costs alone generate no testable restrictions on choice without also imposing constraints on actions' state-dependent utilities. By contrast, for most utility functions, knowing both the utility and information costs enables a unique behavioral prediction. Finally, we show that for smooth costs, most choices from a menu uniquely pin down the agent's decisions in all submenus. |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2205.10434&r= |
| By: | Hohage, Thorsten; Maréchal, Pierre; Simar, Léopold (Université catholique de Louvain, LIDAM/ISBA, Belgium); Vanhems, Anne |
| Abstract: | We use mollification to regularize the problem of deconvolution of random variables. This regularization method offers a unifying and generalizing framework in order to compare the benefits of various filter-type techniques like deconvolution kernels, Tikhonov or spectral cut- off methods. In particular, the mollifier approach allows to relax some restrictive assumptions required for the deconvolution kernels, and has better stabilizing properties compared to spectral cutoff or Tikhonov. We show that this approach achieves optimal rates of convergence both for finitely and infinitely smoothing convolution operators under Besov and Sobolev smoothness assumptions on the unknown probability density. The qualification can be arbitrarily high depending on the choice of the mollifier function. We propose an adaptive choice of the regularization parameter using the Lepskii method and we provide simulations to compare the finite sample properties of our estimator with respect to the well-known regularization methods. |
| Keywords: | Deconvolution ; nonparametric estimation ; inverse problems ; regularization ; mollification |
| Date: | 2022–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:aiz:louvad:2022011&r= |
| By: | Asenova, Stefka (Université catholique de Louvain, LIDAM/ISBA, Belgium); Segers, Johan (Université catholique de Louvain, LIDAM/ISBA, Belgium) |
| Abstract: | We study the joint occurrence of large values of a Markov random field or undirected graphical model associated to a block graph. On such graphs, containing trees as specialcases, we aim to generalize recent results for extremes of Markov trees. Every pair ofnodes in a block graph is connected by a unique shortest path. These paths are shownto determine the limiting distribution of the properly rescaled random field given that a fixed variable exceeds a high threshold. When the sub-vectors induced by the blocks follow Hüsler–Reiss extreme value copulas, the global Markov property of the original field induces a particular structure on the parameter matrix of the limiting max-stable Hüsler–Reiss distribution. The multivariate Pareto version of the latter turns out to be an extremal graphical model according to the original block graph. Moreover, thanks to these algebraic relations, the parameters are still identifiable even if some variables are latent. |
| Keywords: | Markov random field ; graphical model ; block graph ; multivariate extremes ; tail dependence ; latent variable ; Hüsler–Reiss distribution ; conditional independence |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:aiz:louvad:2022013&r= |
| By: | Estelle Michinov (LP3C - EA1285 - Laboratoire de Psychologie : Cognition, Comportement, Communication - UBS - Université de Bretagne Sud - UBO - Université de Brest - UR2 - Université de Rennes 2 - UNIV-RENNES - Université de Rennes - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest); Caroline Ruiller (CREM - Centre de recherche en économie et management - CNRS - Centre National de la Recherche Scientifique - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - UNICAEN - Université de Caen Normandie - NU - Normandie Université); Frédérique Chedotel (GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - INSTITUT AGRO Agrocampus Ouest - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Virginie Dodeler (LP3C - EA1285 - Laboratoire de Psychologie : Cognition, Comportement, Communication - UBS - Université de Bretagne Sud - UBO - Université de Brest - UR2 - Université de Rennes 2 - UNIV-RENNES - Université de Rennes - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest); Nicolas Michinov (LP3C - EA1285 - Laboratoire de Psychologie : Cognition, Comportement, Communication - UBS - Université de Bretagne Sud - UBO - Université de Brest - UR2 - Université de Rennes 2 - UNIV-RENNES - Université de Rennes - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest) |
| Abstract: | With the COVID-19 pandemic, governments implemented successive lockdowns that forced employees to work from home (WFH) to contain the spread of the coronavirus. This crisis raises the question of the effects of mandatory work from home on employees' well-being and performance, and whether these effects are the same for all employees. In the present study, we examined whether working at home may be related to intensity, familiarity with WFH, employees' well-being (loneliness at work, stress, job satisfaction, and work engagement) and creativity (‘subjective' and ‘objective'). We also examined whether the psychological profile of employees, combining preference for solitude and associated personality variables from the Big Five, may influence the effects of WFH. The data were collected via an online survey from November 13th to December 15th 2020 among 946 employees from various organizations during the second lockdown in France. In addition to identifying two distinctive psychological profiles for employees having to WFH, results revealed that those with a "Solitary" profile reported higher loneliness at work, higher levels of stress, and lower levels of job satisfaction and work engagement than those with an "Affiliative" profile. It was also found that employees with a "Solitary" profile perceived themselves as less creative and produced objectively fewer ideas than individuals with an "Affiliative" profile. The present study suggests the necessity to distinguish the profiles of teleworkers and to offer a stronger support for the less affiliative employees when working from home. |
| Keywords: | COVID-19,work-from-home,well-being,creativity,preference for solitude,big-five dimensions |
| Date: | 2022–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03671607&r= |
| By: | James G. MacKinnon; Morten {\O}rregaard Nielsen; Matthew D. Webb |
| Abstract: | Methods for cluster-robust inference are routinely used in economics and many other disciplines. However, it is only recently that theoretical foundations for the use of these methods in many empirically relevant situations have been developed. In this paper, we use these theoretical results to provide a guide to empirical practice. We do not attempt to present a comprehensive survey of the (very large) literature. Instead, we bridge theory and practice by providing a thorough guide on what to do and why, based on recently available econometric theory and simulation evidence. To practice what we preach, we include an empirical analysis of the effects of the minimum wage on labor supply of teenagers using individual data. |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2205.03285&r= |
| By: | Nobuyuki Hanaki; Takahiro Hoshino; Kohei Kubota; Fabrice Murtin; Masao Ogaki; Fumio Ohtake; Naoko Okuyama |
| Abstract: | This paper compares the results of an experiment conducted both in the laboratory and online with participants recruited from the same subject pool using the Trustlab platform. This platform has been used to obtain incentivized and internationally comparable behavioral economics measures of altruism, cooperation, reciprocity, trust, and trustworthiness, employing representative samples in many countries. We find little significant difference between the results from sessions conducted in the laboratory and online. While the existing literature shows that the choice between laboratory and online experiments can cause differences in results in some cases, our findings support the hypothesis that they do not cause differences in the behavioral economics measures when using the Trustlab platform. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:dpr:wpaper:1168r&r= |
| By: | Yamna Erraach (Innov'com, Sup'com, University of Carthage Ariana, Tunis, Tunisia); Fatma Jaafer (Université de Carthage - University of Carthage); Ivana Radić (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Mechthild Donner (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro - Montpellier SupAgro - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | Product labeling is a way to inform consumers and increase their awareness about sustainability attributes of products. It guarantees the use of specific production conditions, promotes market incentives and highlights environmental, social and/or ethical product attributes. This study provides a literature review of sustainability labels on olive oil including consumer attitudes and behavior towards this product. Results show that consumers have positive attitudes towards olive oil carrying sustainability labels and are willing to pay more for olive oil carrying those labels. However, the major drivers of this behavior are far from being related to sustainability. This insight jeopardizes the main objective of those labels and suggests more clarifications about the information delivered by them. More in-depth investigations are needed about the drivers of consumer behavior towards olive oil carrying sustainability labels. |
| Keywords: | olive oil,attitudes,consumer behavior,sustainability,labels |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03476649&r= |