Всего публикаций в данном разделе: 488
Теоретические подходы к анализу поведения потребителей на рынках с дифференцированным продуктом [статья]
Опубликовано на портале: 22-08-2008А.Л. Хромченко TERRA ECONOMICUS. 2006. Т. 4. № 4. С. 47-59.
В наши дни, когда большинство товарных рынков близки к насыщению, проблема потребительского решения переходит в плоскость выбора между марками одного и того же товара. Набольший же интерес представляет анализ устойчивости такого выбора, то есть эффекта лояльности потребителей к конкретным маркам. Анализу этого вопроса в контексте существующих теоретических представлений и посвящена настоящая статья.
Опубликовано на портале: 22-08-2008Ольга Егоровна Германова, Р. А. Абдуллаев TERRA ECONOMICUS. 2006. Т. 4. № 3. С. 99-111.
Особенности поведения потребителя не ограничиваются координатами «доход – цена», «цена – качество». Необходим более глубокий анализ особенностей с учетом зависимостей «объем потребления – располагаемый доход», графически представляемый кривыми Энгеля; порядка предпочтительности приобретения основных продуктов питания при росте дохода и постоянных (растущих) ценах; изменения маршаллианского потребительского излишка в связи с ростом цен.
Сui prodest? - кому это выгодно? [статья]
Опубликовано на портале: 20-08-2008Сергей Вениаминович Жак TERRA ECONOMICUS. 2006. Т. 4. № 2. С. 66-69.
Вопросы о высоких ценах на газ, бензин и другие нефтепродукты являются одними из самых болезненных. В статье предпринимается попытка на простейших математических моделях ответить на вопрос: кому выгодно держать высокие цены?
Опубликовано на портале: 20-08-2008Ольга Егоровна Германова, Р. А. Абдуллаев TERRA ECONOMICUS. 2006. Т. 4. № 2. С. 48-60.
В исследовании потребительского поведения в качестве исходной используется модель рационального потребителя. В общепринятой трактовке под рациональностью потребителя понимается такое его экономическое поведение, в результате которого приобретается товарный набор, обладающий максимальной полезностью, в противном случае поведение потребителя на рынке характеризуется как нерациональное.
Keeping up with the Schmidts: An Empirical Test of Relative Deprivation Theory in the Neighbourhood Context [статья]
Опубликовано на портале: 24-12-2007Gundi Knies, Simon Burgess, Carol Propper DIW Berlin Discussion Papers. 2007. No. 697.
We test empirically whether people’s life satisfaction depends on their relative income position in the neighbourhood, drawing on a unique dataset, the German Socio-economic Panel Study (SOEP) matched with micro-marketing indicators of population characteristics. Relative deprivation theory suggests that individuals are happier the better their relative income position in the neighbourhood is. To test this theory we estimate micro-economic happiness models for the years 1994 and 1999 with controls for own income and for neighbourhood income at the zip-code level (roughly 9,000 people). There exist no negative and no statistically significant associations between neighbourhood income and life satisfaction, which refutes relative deprivation theory. If anything, we find positive associations between neighbourhood income and happiness in all cross-sectional models and this is robust to a number of robustness tests, including adding in more controls for neighbourhood quality, changing the outcome variable, and interacting neighbourhood income with indicators that proxy the extent to which individuals may be assumed to interact with their neighbours. We argue that the scale at which we measure neighbourhood characteristics may be too large still to identify the comparison effect sought after.
Опубликовано на портале: 17-12-2007Joanna Stavins New England Economic Review. 2002. Q 3 . P. 19-31.
Predictions about a cashless and checkless society have been made for many years, but retail payments transactions made with electronic payment instruments still constitute only a small fraction of all payments made in the United States. This is the case despite differences in cost and despite marketing and educational campaigns conducted by the Federal Reserve and other institutions. One of the reasons the cost differences have little effect is that the differences in cost among payment instruments typically are not evident to consumers, who are charged the same amount regardless of how they pay. This article explores the possibility that consumer characteristics may affect the adoption of electronic payment instruments. Using data from the 1998 Survey of Consumer Finances, the author estimates the effect of several demographic characteristics on the probability of using electronic payments. She finds strong effects of demographic characteristics and of location on consumers’ choices. She suggests that the importance of location may indicate demand-related network effects, although further analysis of the supply side would be needed to test that hypothesis.
Behavioral finance [интернет ресурс]
На данном сайте размещена уникальная подборка материалов по совершенно различным темам, объединенным общим направлением "Поведенческие финансы".
Опубликовано на портале: 03-12-2007Carolyn Sissoko Economics Discussion Papers. 2007. No. 2007-16.
Using the monetary model developed in Sissoko (2007), where the general equilibrium assumption that every agent buys and sells simultaneously is relaxed, we observe that in this environment fiat money can implement a Pareto optimum only if taxes are type-specific. We then consider intermediated money by assuming that financial intermediaries whose liabilities circulate as money have an important identifying characteristic: they are widely viewed as default-free. The paper demonstrates that default-free intermediaries who issue credit lines to consumers can resolve the monetary problem and make it possible for the economy to reach a Pareto optimum. We argue that our idealized concept of financial intermediation is a starting point for studying the monetary use of credit.
A Simple Coase-Like Mechanism that Transfers Control of Government Spending Levels from Politicians to Voters [статья]
Опубликовано на портале: 26-11-2007Philip E. Graves Discussion Paper. 2007. No. 2007-12.
Elected representatives have little incentive to pursue the interests of those electing them once they are elected. This well-known principle-agent problem leads, in a variety of theories of government, to nonoptimally large levels of government expenditure. An implication is that budgetary rules are seen as necessary to constrain politicians’ tax and spending behavior. Popular among such constraints are various Balanced Budget Amendment proposals. These approaches, however, are shown here to have serious limitations, including failure to address the central concern of spending level. An alternative approach is advanced here that relies on a Coase-like mechanism that transfers control of government spending to the voter. Prisoner's dilemma incentives and political competition are seen to be critical to the superiority of the present mechanism to approaches requiring budget balance.
Опубликовано на портале: 26-11-2007Annamaria Fiore, Andrea Morone Discussion Paper. 2007. No. 2007-21.
Seminal models of herd behaviour and informational cascades point out existence of negative information externalities, and propose to ‘destroy’ information in order to achieve social improvements. Although in the last years many features of herd behaviour and informational cascades have been studied, this particular aspect has never been extensively analysed. In this article we try to fill this gap, investigating both theoretically and experimentally whether and to which extent destroying information can improve welfare. Our empirical results show that this decisional mechanism actually leads to a behaviour more consistent with the theory that in turn produces the predicted efficiency gain.
Опубликовано на портале: 26-11-2007Leif Danziger Kiel Working Papers. 2007. No. 1340.
This paper analyzes the optimal adjustment strategy of an inventory-holding firm facing price- and quantity-adjustment costs in an inflationary environment. The model nests both the original menu-cost model that allows production to be costlessly adjusted, and the later model that includes price- and quantity-adjustment costs, but rules out inventory holdings. The firm’s optimal adjustment strategy may involve stockouts. At low inflation rates, output is inversely related to the inflation rate, and the length of time demand is satisfied decreases with the absolute value of the demand elasticity, the storage cost, and the real interest rate.
Всемирное научное наследие. Николай Кондратьев. [интернет ресурс]
Во всемирном научном наследии блистает плеяда российских ученых, которые находились на гребне волны научного творчества, прокладывали новые пути в познании закономерностей развития общества и сами служили яркими образцами гражданского служения своему народу, истинными рыцарями науки. К числу таких ученых, безусловно, относится один из величайших экономистов XX века - Николай Дмитриевич Кондратьев (1892 - 1938).
Опубликовано на портале: 02-11-2007Andrew B. Abel American Economic Review. 1990. Vol. 80. No. 2. P. 38-42.
This paper introduces a utility function that nests three classes of utility functions: (1) time-separable utility functions; (2) "catching up with the Joneses" utility functions that depend on the consumer's level of consumption relative to the lagged cross-sectional average level of consumption; and (3) utility functions that display habit formation. Closed-form solutions for equilibrium asset prices are derived under the assumption that consumption growth is i.i.d. The equity premia under catching up with the Joneses and under habit formation are, for some parameter values, as large as the historically observed equity premium in the United States
Опубликовано на портале: 02-11-2007John Y. Campbell, John H. Cochrane Journal of Political Economy. 1999. Vol. 107. No. 2. P. 205-251.
We present a consumption-based model that explains the procyclical variation of stock prices, the long-horizon predictability of excess stock returns, and the countercyclical variation of stock market volatility. Our model has an i.i.d. consumption growth driving process, and adds a slow-moving external habit to the standard power utility function. The latter feature produces cyclical variation in risk aversion, and hence in the prices of risky assets Our model also predicts many of the difficulties that beset the standard power utility model, including Euler equation rejections, no correlation between mean consumption growth and interest rates, very high estimates of risk aversion, and pricing errors that are larger than those of the static CAPM. Our model captures much of the history of stock prices, given only consumption data. Since our model captures the equity premium, it implies that fluctuations have important welfare costs. Unlike many habit-persistence models, our model does not necessarily produce cyclical variation in the risk free interest rate, nor does it produce an extremely skewed distribution or negative realizations of the marginal rate of substitution
Опубликовано на портале: 02-11-2007Christopher D. Carroll, Jody Overkand, David N. Weil American Economic Review. 2000. Vol. 90. No. 3. P. 341-55.
Saving and growth are strongly positively correlated across countries. Recent empirical evidence suggests that this correlation holds largely because high growth leads to high saving, not the other way around. This evidence is difficult to reconcile with standard growth models, since forward-looking consumers with standard utility should save less in a fast-growing economy because they know they will be richer in the future than they are today. We show that if utility depends partly on how consumption compares to a ‘habit stock’ determined by past consumption, an otherwise-standard growth model can imply that increases in growth can cause increased saving
Are Shirking and Leisure Substitutable? An Empirical Test of Efficiency Wages Based on Urban Economic Theory [статья]
Опубликовано на портале: 28-10-2007Stephen L. Ross, Yves Zenou Department of Economics University of Connecticut:Working papers. 2006. No. 2006-21.
Recent theoretical work has examined the spatial distribution of unemployment using the efficiency wage model as the mechanism by which unemployment arises in the urban economy. This paper extends the standard efficiency wage model in order to allow for behavioral substitution between leisure time at home and effort at work. In equilibrium, residing at a location with a long commute affects the time available for leisure at home and therefore affects the trade-off between effort at work and risk of unemployment. This model implies an empirical relationship between expected commutes and labor market outcomes, which is tested using the Public Use Microdata sample of the 2000 U.S. Decennial Census. The empirical results suggest that efficiency wages operate primarily for blue collar workers, i.e. workers who tend to be in occupations that face higher levels of supervision. For this subset of workers, longer commutes imply higher levels of unemployment and higher wages, which are both consistent with shirking and leisure being substitutable.
Опубликовано на портале: 28-10-2007James J. Heckman IZA Discussion Papers. 2007. No. 2875.
This paper begins the synthesis of two currently unrelated literatures: the human capital approach to health economics and the economics of cognitive and noncognitive skill formation. A lifecycle investment framework is the foundation for understanding the origins of human inequality and for devising policies to reduce it.
The Identification and Economic Content of Ordered Choice Models with Stochastic Thresholds [статья]
Опубликовано на портале: 28-10-2007James J. Heckman, Flavio Cunha, Salvador Navarro NBER Technical Working Papers. 2007. No. 0340.
This paper extends the widely used ordered choice model by introducing stochastic thresholds and interval-specific outcomes. The model can be interpreted as a generalization of the GAFT (MPH) framework for discrete duration data that jointly models durations and outcomes associated with different stopping times. The authors establish conditions for nonparametric identification. They interpret the ordered choice model as a special case of a general discrete choice model and as a special case of a dynamic discrete choice model.
Food Protection for Sale [статья]
Опубликовано на портале: 25-10-2007Rigoberto A. Lopez, Xenia Matschke University of Connecticut, Department of Economics Working Paper. 2005. No. 2005-13R.
This article tests the Protection for Sale (PFS) model using detailed data from U.S. food processing industries from 1978 to 1992 under alternative import demand specifications. All empirical results support the PFS model predictions and previous empirical work qualitatively. Although welfare weights are very sensitive to import demand specification, a surprising result is that we obtain weights between 2.6 and 3.6 for domestic welfare using import slopes or elasticities derived from domestic demand and supply functions. In contrast, results based on import slopes or elasticities from directly specified import demands (including the Armington model) yield the usual, unrealistically large estimates for the domestic welfare weight. We contend that the latter empirical paradox arises mainly because the explanatory variables tend to be extremely large for industries with low import ratios and/or low estimated elasticities or slopes resulting from relatively volatile import prices. The results with derived import parameters point to a much stronger role of campaign contributions within the PFS model than previously found. They also suggest that the commonly-used Armington estimates may not be appropriate for estimating the PFS model.
Опубликовано на портале: 25-10-2007Xenia Matschke Journal of International Economics. 2003. No. 61. P. 209-223.
This paper investigates the equivalence of optimal import tariffs and quotas in a Cournot duopoly model when firms have more information about demand than the domestic government. The author considers a screening model in which the government offers the domestic firm different contracts from which to choose. She shows that the availability and cost of obtaining correct information from the firm depends upon the choice of trade policy instrument. Asymmetric information thus destroys the equivalence of tariffs and quotas, which prevails under complete information, and has a profound impact on how government, firms, and consumers rank different trade policy instruments.