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on Marketing |
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Issue of 2010‒04‒24
two papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Friedrich Geiecke; Mark Trede |
| Abstract: | The recent introduction of new derivatives with future dividend payments as underlyings allows to construct a direct test of rational bubbles. We suggest a simple, new method to calculate the fundamental value of stock indices. Using this approach, bubbles become observable. We calculate the time series of the bubble component of the Euro-Stoxx 50 index and investigate its properties. Using a formal hypothesis test we find that the behavior of the bubble is compatible with rationality. |
| Keywords: | brand equity, price premium, hedonic regression, Bayesian estimation, dynamic linear model |
| JEL: | A |
| Date: | 2010–03 |
| URL: | http://d.repec.org/n?u=RePEc:cqe:wpaper:1310&r=mkt |
| By: | Yamamura, Eiji |
| Abstract: | Using Japanese panel data for 2006-2009, this study attempts to examine how the pass rate of law school student taking the new bar examination influences the number of applicants for the law school in the following years. The major finding is that the higher the law school student pass rate, the greater the number of applicants for the law school becomes. Furthermore, the positive effect of the pass rate is larger for a prestigious university’s law school than for other schools. It follows that the “brand” and the school’s current performance are complementary in increasing demand for places in the law school. |
| Keywords: | brand; law school; Japan; demand |
| JEL: | K40 A23 |
| Date: | 2010–04–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:22036&r=mkt |