Results 161 to 170 of about 13,312 (255)

Graph‐Laplacian modeling of spatiotemporal effects for house price estimation

open access: yesReal Estate Economics, EarlyView.
Abstract Many variables involve the modeling of spatial effects, and their dynamics over time. This article presents a linear model in which spatiotemporal random effects are modeled by graph‐Laplacians. A graph‐Laplacian flexibly encodes adjacency in both space and time, in our case not depending on unknown parameters. The graph‐Laplacian can be input
Willem P Sijp, Marc K. Francke
wiley   +1 more source

Demand Estimation with Text and Image Data

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT We propose a demand estimation approach that leverages unstructured data to infer substitution patterns. Using pre‐trained deep learning models, we extract embeddings from product images and textual descriptions and incorporate them into a mixed logit demand model.
Giovanni Compiani   +2 more
wiley   +1 more source

Preemptive Entry and Technology Diffusion: The Market for Drive‐In Theaters

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT This article studies entry preemption in new industries. We first test a key prediction of dynamic entry games: Entry preemption is most relevant in intermediate‐sized markets, where firms face highest uncertainty about future entry. Using US drive‐in theater market (1945–1957) data, we find robust evidence for this non‐monotonic relationship ...
Ricard Gil   +3 more
wiley   +1 more source

Output Quality, Productivity, and Demand: Evidence from the Chinese Steel Industry

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT Unobserved objective output quality complicates the analysis of firm productivity and demand because higher‐quality products entail higher costs but offer greater consumption benefits. Using a panel of firms with output quality data, we decompose quantity‐based productivity into fundamental productivity and the costs of quality, and separate ...
Jing Li, Shengyu Li, Hongsong Zhang
wiley   +1 more source

The Incidence of Coarse Certification: Evidence From the ENERGY STAR Program

open access: yesThe RAND Journal of Economics, EarlyView.
ABSTRACT A coarse certification provides simple but incomplete information. Its rationale is to help consumers trade off dimensions of quality that are complex and lack salience. In imperfectly competitive markets, it may induce excess bunching at the certification requirement, crowd out quality, and facilitate price discrimination. Who will ultimately
Sébastien Houde
wiley   +1 more source

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