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| Registros recuperados: 10 | |
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| Hanemann, W. Michael; Nauges, Celine. |
| We propose a detailed analysis of heterogeneity in households’ responses to water conservation programs (price increase, voluntary and mandatory conservation) during periods of water shortage. Using a unique dataset covering water consumption of all residential users in Los Angeles (California) during the drought (1988-1992), we show that households generally were responsive to the conservation measures but that the magnitude of households’ responses varies depending on the instrument and on households’ characteristics, in particular the size of their lot. Price elasticity is estimated between –0.29 and –0.47 in the high season (June-October), and between 0 and –0.19 in the low season (November-May). Results suggest that the voluntary conservation program... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Water conservation; Residential use; Heterogeneity in behavior; Panel data; Resource /Energy Economics and Policy; C23; D12; Q25. |
| Ano: 2006 |
URL: http://purl.umn.edu/7158 |
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| Dubois, Pierre; Nauges, Celine. |
| We propose a structural empirical approach à la Levinsohn and Petrin (2003) to disentangle the effect of experts’ grades from the effect of unobserved quality on the pricing of experience goods. Using a panel data set of 108 châteaux selling wine on the Bordeaux ‘en primeur’ market, we provide some empirical validation for the theoretical result that the price set by wine producers is used as a signal for wine quality. We confirm that experts’ grades affect producers’ choice of ‘en primeur’ price above the effect of unobserved wine quality. Our empirical results also show that failing to control for endogeneity caused by the omission of unobserved leads to over-estimate the influence of experts’ grades on the ‘en primeur’ price. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Quality signaling; Wine price; Wine market; Expert ratings; Demand and Price Analysis; Industrial Organization. |
| Ano: 2007 |
URL: http://purl.umn.edu/37320 |
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| Koundouri, Phoebe; Nauges, Celine. |
| In the estimation of production functions, ignoring risk considerations can cause inefficient estimates, while biased parameter estimates arise in the presence of sample selection. In the presence of uncertainty and selection bias, the latter introduced by the endogeneity of qualitative characteristics of inputs in crop choice, we show that correcting for risk considerations (a la Just and Pope, 1978, 1979) but not selection bias, can produce incorrect inferences in terms of risk behavior. The arguments raised in this study have estimation and policy implications for stochastic production analysis applied to all goods whose qualitative characteristics can affect sample selection. |
| Tipo: Journal Article |
Palavras-chave: Crop choice; Production risk; Sample selection; Production Economics. |
| Ano: 2005 |
URL: http://purl.umn.edu/30977 |
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| Registros recuperados: 10 | |
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