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Social and Behavioral Sciences Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
Markets, The Environment And Liberty: The Case Of Elephants And Air Quality, Gordon L. Brady, Michael L. Marlow
Markets, The Environment And Liberty: The Case Of Elephants And Air Quality, Gordon L. Brady, Michael L. Marlow
Economics
No Abstract
The Public Demand For Smoking Bans, William J. Boyes, Michael L. Marlow
The Public Demand For Smoking Bans, William J. Boyes, Michael L. Marlow
Economics
Smoking bans are gaining widespread support in the United States and other countries. While supporters argue that bans are necessary to resolve market failures associated with negative externalities, the Coase Theorem predicts that, under various conditions, private markets internalize negative externalities. We examine the smoking issue within the framework of the Coase Theorem and hypothesize that smoking bans misallocate air space resources shared by smokers and nonsmokers. Because smoking bans shift ownership of scarce resources, they are also hypothesized to transfer income from one party (smokers) to another party (nonsmokers). Supporting evidence for these hypotheses is provided by an examination …
Joint And Separate Score Tests For State Dependence And Unobserved Heterogeneity, Sanjiv Jaggia, Pravin K. Trivedi
Joint And Separate Score Tests For State Dependence And Unobserved Heterogeneity, Sanjiv Jaggia, Pravin K. Trivedi
Economics
The paper compares separate, conditional, and joint score tests of duration dependence and unobserved heterogeneity when the null is the exponential model and the alternative is the heterogeneous Weibull model. The score tests based on the conditional score function include the Neyman C(x) test as a special case. An examination of the non-null distribution of the joint test explains when all score tests have low power in the presence of multiple misspecifications. Monte Carlo experiments show that the conditional score tests are superior to the standard separate tests which confound unobserved heterogeneity and duration dependence.