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Social and Behavioral Sciences Commons™
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Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
Estimating Dynamic Discrete Choice Models Of Product Differentiation: An Application To Medicare Part D With Switching Costs, Daniel P. Miller, Jungwon Yeo
Estimating Dynamic Discrete Choice Models Of Product Differentiation: An Application To Medicare Part D With Switching Costs, Daniel P. Miller, Jungwon Yeo
Research Collection School Of Economics
This paper proposes an algorithm to estimate dynamic discrete choice models using aggregate market share data. The algorithm achieves a computational advantage by decomposing the complicated mapping between market shares and utility flows into two simpler ones. The first maps observed market shares to mean choice specific values, and the second then maps to mean utility flows. In the application, we estimate switching costs in the Medicare Part D market. Our results indicate a large switching cost of around $1,700, which implies an average welfare loss of $480 as enrollees choose to remain in sub-optimal plans to avoid switching costs.
Making Babies: Getting Into The Mood For Love, Knowledge@Smu
Making Babies: Getting Into The Mood For Love, Knowledge@Smu
Knowledge@SMU
Within a span of 50 years, Singapore had to worry about its fertility rate for two very different reasons. Its development years in the 1960s and 1970s saw a baby boom, with the country’s maternity hospital even earning a place in the Guinness Book of World Records for the largest number of birth in a single maternity facility— a record it held for ten years. However today, the country’s fertility rate has fallen below the replacement rate. SMU professor Norman Li provides a take on this phenomenon.
Finding The Medicine For Healthcare, Knowledge@Smu
Finding The Medicine For Healthcare, Knowledge@Smu
Knowledge@SMU
Health care costs are escalating rapidly in countries with aging populations and is often a source of headache for policymakers. Singapore, which has one of the world’s acclaimed healthcare systems, also faces the same issues of balancing social and economic objectives in its healthcare system. A healthcare expert has now proposed a radical policy shift for the Republic to meet the medical needs of its citizens.
When To Say “I Love You”: Before Or After Sex?, Knowledge@Smu
When To Say “I Love You”: Before Or After Sex?, Knowledge@Smu
Knowledge@SMU
There are no hard and fast rules on when one should say 'I love you', or who should say it first. Yet, the implications either way can be profound. Taking an evolutionary-economics perspective, these words, for men, could be taken as "bids for sexual access". Women, on the other hand, might view it differently, depending on whether the words were uttered before or after sex. SMU associate professor Norman Li examines what it is that romantic partners really mean when they say "love".