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Registros recuperados: 48 | |
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Karuaihe, Raphael N.; Wang, H. Holly; Young, Douglas L.. |
Weather constitutes the major source for production risk in agriculture. Weather index can be used construct crop insurance that demand less information and can avoid moral hazard and adverse selection problems. Based on mean-variance model, theoretical results on the optimal insurance coverage and its impact from risk preference, basis risk, and premium loading are derived, which are quite consistent to the empirical results from the expected utility model. Using South Africa corn data, we investigate growers' demand and efficiency of alternative hypothetical weather index crop insurance programs. In contrast to previous work that suggests that a single-variable weather index suffices to develop an insurance contract, this study shows that the insured... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty; C51; C61; G22; Q14. |
Ano: 2006 |
URL: http://purl.umn.edu/25378 |
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Moschini, GianCarlo. |
The notion of indirect separability is exploited to derive a new multistage demand system. The model allows a consistent parameterization of demand relations at various budgeting stages and it fulfills the requirement of flexibility while satisfying separability globally. Two propositions are derived to characterize flexible and separable functional forms, which lead to the specification of a flexible and separable translog (FAST) demand system. The model is particularly attractive for modeling large complete demand systems, and is illustrated with an application to Canadian food demand. |
Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods; D11; D12; C51. |
Ano: 2000 |
URL: http://purl.umn.edu/18514 |
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Merlo, Antonio. |
In this paper we structurally estimate a game-theoretic model of government formation in a multiparty parliamentary democracy. We focus on the timing and the terms of government agreements in the context of a multilateral stochastic model of sequential bargaining with complete information (Merlo and Wilson (1194, 1995)) where efficient delays may occur in the unique equilibrium. Besides showing that our model yields a good fit to the data on the duration of negotiations over government formation as well as government durations in postwar Italy, we use our estimates to quantify the advantage to proposing and to conduct policy experiments to evaluate the effects of changes in the bargaining procedure. We show that the gains from proposing tend to be quite... |
Tipo: Working or Discussion Paper |
Palavras-chave: Noncooperative bargaining; Delay; Government formation; Structural estimation; Duration models.; Political Economy; C41; C51; C73; C78; D72. |
Ano: 1996 |
URL: http://purl.umn.edu/7476 |
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Dreger, Christian; Schumacher, Christian. |
This paper discusses a large-scale factor model for the German economy. Following the recent literature, a data set of 121 time series is used via principal component analysis to determine the factors, which enter a dynamic model for German GDP. The model is compared with alternative univariate and multivariate models. These models are based on regression techniques and considerably smaller data sets. Out-of-sample forecasts show that the prediction errors of the factor model are smaller than the errors of the rival models. However, these advantages are not statistically significant, as a test for equal forecast accuracy shows. Therefore, the efficiency gains of using a large data set with this kind of factor models seem to be limited. Diese Arbeit... |
Tipo: Working or Discussion Paper |
Palavras-chave: Factor models; Principal components; Forecasting accuracy; International Development; E32; C51; C43. |
Ano: 2002 |
URL: http://purl.umn.edu/26321 |
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Staus, Alexander. |
This article analyses dealer satisfaction data in the agricultural technology market in Germany. The dealers could rate their suppliers in the ’overall satisfaction’ and in 38 questions which can be summarized in 8 dimensions. An ordinal regression model which is also known as the proportional odds model is used to analyse the ordinal scaled rating of the dealers. The ordinal regression model is a well examined method in econometric theory, but many authors prefer using a linear regression model due to better interpretation, even the assumptions of a linear regression do not fit the data. Since the estimated coefficients of an ordinal regression model can not be properly interpreted we show other methods for a better insight of the relationship of the... |
Tipo: Working or Discussion Paper |
Palavras-chave: Keywords: ordinal regression; Dealer satisfaction; Interpretation; Agricultural and Food Policy; Marketing; C25; C51; Q13. |
Ano: 2007 |
URL: http://purl.umn.edu/98632 |
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Registros recuperados: 48 | |
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