 Economics  Research Publications
Economics  Research Publications
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ItemCharitable Giving in the Laboratory: Advantages of the Piecewise Linear Public Goods GameMenietti, M ; Recalde, M ; Vesterlund, L ; Scharf, K ; Tonin, M (The MIT Press, 2018)The vast majority of US households make significant charitable contributions. When examining the effectiveness of the mechanisms fundraisers use to solicit such funds, it is often essential that researchers elicit or control the donor’s return from giving. While much can be gained from examining data on actual donations, insights on giving increasingly result from laboratory studies. An advantage of the laboratory is that it permits control of the donor’s return from giving and thus facilitates the identification of donor motives as well as their responses to different fundraising or solicitation strategies (see Vesterlund 2016 for a review).

ItemConfidence Intervals for Ratios: Econometric Examples with StataLye, JN ; Hirschberg, JG (Elsevier BV, 2018)Ratios of parameter estimates are often used in econometric applications. However, the test of these ratios when estimated can cause difficulties since the ratio of asymptotically normally distributed random variables have a Cauchy distribution for which there are no finite moments. This paper presents a method for the estimation of confidence intervals based on the Fieller approach that has been shown to be preferable to the usual Delta method. Using example applications in both Stata and R, we demonstrate that a few extra steps in the examination of the estimate of the ratio may provide a confidence interval with superior coverage.

ItemGrading Journals in Economics: The ABCs of the ABDCHirschberg, JG ; Lye, JN ( 20180101)

ItemOpportunities and Challenges for CGE Models in Analysing TaxationFreebairn, J (WILEY, 20180301)

ItemTime series copulas for heteroskedastic dataLoaizaMaya, R ; Smith, MS ; Maneesoonthorn, W (WILEY, 20180401)

ItemA REVIEW OF THE RECENT LITERATURE ON THE INSTITUTIONAL ECONOMICS ANALYSIS OF THE LONGRUN PERFORMANCE OF NATIONSLloyd, P ; Lee, C (WILEY, 20180201)

ItemEnvironmental Water Efficiency: Maximizing Benefits and Minimizing Costs of Environmental Water Use and ManagementHorne, AC ; O'Donnell, EL ; Loch, AJ ; Adamson, DC ; Hart, B ; Freebairn, J (WILEY, 2018)Environmental water management is a relatively new discipline, with concepts, management practice and institutional mechanisms that are still emerging. The efficient and effective use of environmental water to maximize environmental benefits, or environmental water use efficiency, is one such emerging concept. Currently, much of the focus is on allocative efficiency, where the objective is to achieve a better balance between consumptive and environmental water uses in a cost‐effective way. However, this may not provide the most efficient and effective way to manage environmental water in the long term, where managers are seeking productive (or operational) efficiency. Here, the objective is to maximize environmental outcomes relative to the cost of managing the available resource. This paper explores the concept of water use efficiency in the context of environmental water.

ItemSurprised by the Hot Hand Fallacy? A Truth in the Law of Small NumbersMiller, JB ; Sanjurjo, A (Econometric Society, 20181101)We prove that a subtle but substantial bias exists in a common measure of the conditional dependence of present outcomes on streaks of past outcomes in sequential data. The magnitude of this streak selection bias generally decreases as the sequence gets longer, but increases in streak length, and remains substantial for a range of sequence lengths often used in empirical work. We observe that the canonical study in the influential hot hand fallacy literature, along with replications, are vulnerable to the bias. Upon correcting for the bias, we find that the longstanding conclusions of the canonical study are reversed.

ItemPolicy Forum: Cryptocurrencies IntroductionCastelnuovo, E (WILEY, 20181201)

ItemRatios of Parameters: Some Econometric ExamplesLye, J ; Hirschberg, J (WILEY, 20181201)Ratios of parameter estimates are often used in econometric applications. However, constructing confidence intervals (CIs) for these ratios can cause difficulties since the ratio of asymptotically normally distributed random variables are Cauchy distributed and thus have no finite moments. This article presents a method for the estimation of CIs based on the Fieller approach that has been shown to be preferable to the usual Delta method. Using example applications in Stata and R, we demonstrate that a few extra steps in the examination of the estimate of the ratio can provide a CI with superior coverage.