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| Pennings, Joost M.E.; Garcia, Philip; Irwin, Scott H.. |
| Heterogeneity, i.e., the notion that individuals respond differently to economic stimuli, can have profound consequences for the interpretation of behavior and the formulation of agricultural policy. This paper compares and evaluates three grouping techniques that can be used to account for heterogeneity in financial behavior. Two are well established: company-type grouping and cluster analysis. A third, the generalized mixture regression model, has recently been developed and is worth considering as market participants are grouped such that their response to the determinants of economic behavior is similar. We evaluate the grouping methods in a hedging framework by assessing their ability to reflect relationships consistent with theory. The empirical... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Economic behavior; Heterogeneity; Hedging; Methods; Risk and Uncertainty; A10; B40; C1; D0; G0; L2; Q13. |
| Ano: 2011 |
URL: http://purl.umn.edu/114787 |
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| Jacobs, Dirk; Rea, Andrea. |
| Schematically one can distinguish two traditions related to ethnic statistics in Europe. In France, Germany and most southern European countries, the dominant statistical categorisations merely distinguish individuals on the basis of their nationality. In contrast, most northern European countries have been producing data on the ethnic and/or foreign origin of their populations. Belgium is caught somewhere in between these two traditions. The French speaking part of Belgium tends to follow the French tradition of refusing ethnic categorisation, while the Flemish (the Dutch speaking part) try to copy the Dutch model in distinguishing allochthones and autochthones. This contribution wants to offer an analysis of the construction of ethnic categories as... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Ethnic Categorisation; Statistics; Allochthones; Netherlands; Belgium; Labor and Human Capital; B40. |
| Ano: 2006 |
URL: http://purl.umn.edu/12103 |
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| Brennan, Timothy J.. |
| Residential consumers remain reluctant to choose new electricity suppliers. Even the most successful jurisdictions, four U.S. states and other countries, have had to adopt extensive consumer education procedures that serve largely to confirm that choosing electricity suppliers is daunting. Electricity is not unique in this respect; numerous studies find that consumers are generally reluctant to switch brands, even when they are well-informed about product characteristics. If consumers prefer not to choose, opening regulated markets can reduce welfare, even for some consumers who do switch, as the incumbent can exploit this preference by raising price above the formerly regulated level. Policies to open markets might be successful even if limited to... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Electricity markets; Deregulation; Consumer choice; Residential markets; Consumer/Household Economics; L94; L51; D11; B40. |
| Ano: 2005 |
URL: http://purl.umn.edu/10573 |
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