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作者：ANTEL, JJ; OHSFELDT, RL; BECKER, ER
作者单位：University of Alabama System; University of Alabama Birmingham; Harvard University
摘要：The effects of various regulations on hospital costs are estimated using a two decade long panel data set which spans the initiation, and in some instances the repeal, of various forms of hospital regulation. The long panel fosters two improvements over previous research. First, as state hospital cost levels may affect states' incentive to regulate, fixed effect estimators alleviate omitted variable bias derived from the states' regulatory discretion. Second, the long panel permits the estimat...
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作者：LEE, LF
作者单位：Hong Kong University of Science & Technology
摘要：This article provides general formulas for the computation of opportunity costs (or forgone earnings) of unchosen alternatives in sample selection models with polychotomous choices. With observed choice probabilities and outcomes of alternatives chosen by some individuals, the opportunity costs for individuals who do not choose those alternatives can be evaluated. For the probability indexed sample selection models with legit choice probabilities, which include the polychotomous choice model o...
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作者：THOMAS, LA
摘要：In many advertising-intensive industries one observes market share persistence, i.e., firms maintaining lead market shares over long periods of time. I hypothesize that firms that have the largest stack of well-established brands, a stock that I term brand capital, are most likely to introduce new products in response to new market information about consumer preferences. Firms with less brand capital delay their introductions until the uncertainty concerning the market size is reduced. I prese...
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作者：SAKELLARIS, P
摘要：This paper studies the responsiveness of firm investment to shocks in the input factor and output prices (the market conditions) by using stock market information on excess returns. The q theory of investment is modified to allow for heterogeneous capital, ex post inflexible technology, and irreversible investment. A structural model linking the excess returns to a firm's equity to the firm's investment history and the evolution of the market conditions is estimated using a panel of U.S. manuf...
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作者：BALTAGI, BH; GRIFFIN, JM
摘要：This paper estimates a dynamic demand model for liquor in the United States using panel data from 43 states. Because of taste changes over time and between states in liquor consumption, purely time series or cross sectional studies do not elicit reliable price elasticity estimates. This study makes the case for pooling and shows how one can control for individual state effects and endogeneity of the regressors using estimators suited for a dynamic demand model. Our results indicate that the lo...
