Search results for "Econometric"
showing 10 items of 3780 documents
Dimensionalidad De La Responsabilidad Social Empresarial Percibida Y Sus Efectos Sobre La Imagen Y La Reputación: Una Aproximación Desde El Modelo De…
2008
ResumenLa literatura de marketing sugiere que las acciones y programas de responsabilidad social empresarial podrían mejorar la imagen y la reputación de las empresas ante los ojos de sus consumidores y ser una importante fuente de ventaja competitiva para las mismas. Sin embargo, poco se sabe acerca las percepciones de estos stakeholders al respecto y sobre sus efectos en dichas variables. Para conocerlos, se llevó a cabo una revisión de la literatura, en donde se planteo un modelo teórico de relaciones estructurales el cual es contrastado empíricamente a través del análisis de su estructura de covarianzas. Para tal objetivo, se utiliza una muestra de 358 consumidores jóvenes de telefonía …
An empirical analysis of online price dispersion in the Italian airline industry
2015
Firms operating in the electronic marketplace set and adjust prices to affect demand and profitability. In service markets, such as airline markets, different prices are commonly offered by diverse firms to accommodate to a variety of market segments having particular sets of consumer attitudes. This variation in prices is the price dispersion and is based on market distinctiveness deriving from customer heterogeneity as well as the peculiar competition in the specific market arena. In this paper we use a panel dataset from the Italian airline market to investigate the role of competition and different online channels in the emergence of price dispersion. Specifically, we examine the unclea…
Growth dynamics and space in Brazil
2003
The authors bring together two strands of the empirical literature and analyze the geography of the regional economic performance of the states of the Brazilian Federation from 1939 to 1998. Using tools from spatial statistics, they examine the spatial dependence of regional per capita income in Brazil during the past six decades. They also examine the role of geography in explaining economic growth patterns using intradistribution dynamic tools based on Markov transition matrices and stochastic kernels in a discrete and a continuous framework. The analyses reveal the existence of two spatial clusters in Brazil, a low-income cluster in the northeast and a high-income cluster in the southea…
Dynamics in stochastic evolutionary models
2016
We characterize transitions between stochastically stable states and relative ergodic probabilities in the theory of the evolution of conventions. We give an application to the fall of hegemonies in the evolutionary theory of institutions and conflict, and illustrate the theory with the fall of the Qing dynasty and the rise of communism in China.
An appraisal of Piero Sraffa's 'The Laws of Returns under Competitive Conditions'
2001
The paper proposes a new interpretation of Sraffa's 1926 Economic Journal article, ‘The Laws of Returns under Competitive Conditions’, according to which the latter derives from the same strategy of research which underlies its 1925 Italian precursor, ‘Sulle relazioni fra costo e quantità prodotta’. Sraffa tested the explanatory power of a Marshallian monopolistic partial equilibrium model and concluded that that model is able to treat one source of variable returns (firm-internal economies); but this articulation of Marshall‘s theory does not substantially improve on the trade-off between logical consistency and empirical relevance which afflicted the theory in its whole. © 2001, Taylor & …
Mass appraisal of residential real estate using multilevel modelling
2016
Mass appraisal, or the automatic valuation of a large number of real estate assets, has attracted the attention of many researchers, who have mainly approached this issue employing traditional econometric models such as Ordinary Least Squares (OLS). However, this method does not consider the hierarchical structure of the data and therefore assumes the unrealistic hypothesis of the independence of the individuals in the sample. This paper proposes the use of the Hierarchical Linear Model (HLM) to overcome this limitation. The HLM also gives valuable information on the percentage of the variance error caused by each level in the hierarchical model. In this study HLM was applied to a large dat…
Forecasting the Equity Risk Premium in the European Monetary Union
2018
This article examines the performance of several variables that could be good predictors of the equity risk premium in the European Monetary Union for a period that spans from 2000 to 2015. In-sample, technical indicators display predictive power, matching or exceeding that of traditional economic forecasting variables. We also find consistent results in the fact that combining information from technical and economic variables improves equity risk premium forecasts, compared to using these variables alone. Nevertheless, out-of-sample exercises do not confirm in-sample results. Economic predictors show stronger out-of-sample forecasting ability than technical indicators, and apart from volum…
Statistical prediction of corrosion front penetration
1997
A statistical method to predict the stochastic evolution of corrosion fronts has been developed. The method is based on recording material loss and maximum front depth. In this paper we introduce the method and test its applicability. In the absence of experimental data we use simulation data from a three-dimensional corrosion model for this test. The corrosion model simulates localized breakdown of a protective oxide layer, hydrolysis of corrosion product and repassivation of the exposed surface. In the long time limit of the model, pits tend to coalesce. For different model parameters the model reproduces corrosion patterns observed in experiment. The statistical prediction method is base…
Modelling agricultural risk in a large scale positive mathematical programming model
2020
International audience; Mathematical programming has been extensively used to account for risk in farmers' decision making. The recent development of the positive mathematical programming (PMP) has renewed the need to incorporate risk in a more robust and flexible way. Most of the existing PMP-risk models have been tested at farm-type level and for a very limited sample of farms. This paper presents and tests a novel methodology for modelling risk at individual farm level in a large scale model, called individual farm model for common agricultural policy analysis (IFM-CAP). Results show a clear trade-off between including and excluding the risk specification. Albeit both alternatives provid…
A parsimonious model for generating arbitrage-free scenario trees
2016
Simulation models of economic, financial and business risk factors are widely used to assess risks and support decision-making. Extensive literature on scenario generation methods aims at describing some underlying stochastic processes with the least number of scenarios to overcome the ‘curse of dimensionality’. There is, however, an important requirement that is usually overlooked when one departs from the application domain of security pricing: the no-arbitrage condition. We formulate a moment matching model to generate multi-factor scenario trees for stochastic optimization satisfying no-arbitrage restrictions with a minimal number of scenarios and without any distributional assumptions.…