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Do Economic Restrictions Improve Forecasts? AgEcon
Murphy, Elizabeth A.; Norwood, F. Bailey; Wohlgenant, Michael K..
A previous study showed that imposing economic restrictions improves the forecasting ability of food demand systems, thus warranting their use even when they are rejected in-sample. This article evaluates whether this result is due to economic restrictions enhancing degrees of freedom or containing nonsample information. Results indicate that restrictions improve forecasting ability even when they are not derived from economic theory, but theoretical restrictions forecast best.
Tipo: Journal Article Palavras-chave: Demand systems; Economic restrictions; Forecasting; Representative consumer; B4; C1; C3; C5.
Ano: 2004 URL: http://purl.umn.edu/43447
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EX ANTE NON-MARKET VALUATION FOR NOVEL PRODUCT: LITERATURE REVIEW AgEcon
Dofonsou, Sika Gbegbelegbe; Lowenberg-DeBoer, James.
This paper provides a critical review of the literature on non-market valuation methods to estimate the welfare impact of novel products; it is the first study to assess both observed data- and perception-based methods as non-market valuation methods. Observed databased methods include budgets, regression, mathematical programming, and simulation. Perceptions-based methods include the contingent valuation method, choice-based conjoint analysis and experimental methods. Findings imply that the preferred observed data-based method to estimate the ex ante economic impact of a new technology on the welfare of the farm household is a combination of simulation and mathematical programming. The preferred perception-based method for estimating the ex ante impact...
Tipo: Working or Discussion Paper Palavras-chave: Staff working papers; Dept. of Agricultural Economics; Internet publications; Purdue University; Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods; B0; B4; C0; C6; R2.
Ano: 2008 URL: http://purl.umn.edu/6327
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'Green' Preferences as Regulatory Policy AgEcon
Brennan, Timothy J..
We examine the suggestion that if consumers in sufficient numbers are willing to pay the premium to have power generated using low-emission technologies, tax or permit policies become less necessary or stringent. While there are implementation difficulties with this proposal, our purpose is more fundamental: can economics make sense of using preferences as a regulatory instrument? If“"green" preferences are exogenously given, to what extent can or should they be regarded as a substitute for other policies? Even with green preferences, production and consumption of polluting goods continues to impose social costs not borne in the market. Moreover, if green preferences are regarded as a policy instrument, the "no policy" baseline would require a problematic...
Tipo: Working or Discussion Paper Palavras-chave: Environmental regulation; Preference change; Environmental Economics and Policy; Q2; B4; D6.
Ano: 2001 URL: http://purl.umn.edu/10787
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Theoretical frameworks for a productivity and efficiency analysis of agricultural enterprises AgEcon
Lissitsa, Alexej; Babitcheva, Tamara.
Das Hauptziel des vorliegenden "Discussions Paper" ist es, den russischsprachigen Leser mit den theoretischen Grundlagen der Produktivitäts- und Effizienzanalyse der landwirtschaftlichen Unternehmen vertraut zu machen. In der russischsprachigen Literatur wurden und werden bis zu heutigem Zeitpunkt in der Regel bei der Analyse der Effizienz der Unternehmen, die Kennzahlen der Rentabilität verwendet, deren Bedeutungen nach den einzelnen Unternehmen oder ihren Gruppen verglichen werden. In dieser Arbeit erfolgt eine Darstellung der im englischsprachigem Raum weitverbreiteten Methoden zur Effizienz und Produktivitätsanalyse. Die Arbeit ist so aufgebaut, dass zuerst die Unterschiede zwischen der Produktivität und Effizienz aus theoretischen Sicht erklärt und...
Tipo: Working or Discussion Paper Palavras-chave: Produktivität; Effizienz; Indexzahlentheorie; Malmquist; Törnkvist; Fisher Index; Productivity; Efficiency; Index Number Theory; Продуктивность; Эффективность; Теория индексов; Малмквист; Торнквист и Фишер индексы.; Agribusiness; Industrial Organization; Productivity Analysis; Research Methods/ Statistical Methods; B4; C6; D2; O3; O4.
Ano: 2003 URL: http://purl.umn.edu/92170
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Using Experimental Economics to Measure Social Capital and Predict Financial Decisions AgEcon
Karlan, Dean S..
Questions remain as to whether results from experimental economics games are generalizable to real decisions in non-laboratory settings. Furthermore, important questions persist about whether social capital can help solve seemingly missing credit markets. I conduct two experiments, a Trust game and a Public Goods game, and a survey to measure social capital. I then examine whether behavior in the games predicts repayment of loans to a Peruvian group lending microfinance program. Since the structure of these loans relies heavily on social capital to enforce repayment, this is a relevant and important test of the games, as well as of other measures of social capital. I find that individuals identified as "trustworthy" by the Trust game are in fact less...
Tipo: Working or Discussion Paper Palavras-chave: Trust game; Experimental economics; Microfinance; Institutional and Behavioral Economics; B4; C9; D8; O1.
Ano: 2005 URL: http://purl.umn.edu/28429
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