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Production capital and technology (i.e., total factor productivity) in US manufacturing are fundamental for understanding output and productivity growth of the US economy but are unobserved at this level of aggregation and must be estimated before being used in empirical analysis. Previously, we developed a method for estimating production capital and technology based on an estimated dynamic structural economic model and applied the method using annual SIC data for 1947-1997 to estimate production capital and technology in US total manufacturing. In this paper, we update this work by reestimating the model and production capital and technology using annual SIC data for 1949-2001 and partly overlapping NAICS data for 1987-2005. [ABSTRACT FROM AUTHOR]

The internet contains billions of documents. We show that document frequencies in large decentralized textual databases can capture the cross-sectional variation in the occurrence frequencies of social phenomena. We characterize the econometric conditions under which such proxying is likely. We also propose using recently-introduced internet search volume indexes as proxies for fundamental locational traits, and discuss their advantages and limitations. We then successfully proxy for a number of economic and demographic variables in US cities and states. We further obtain document-frequency measures of corruption by country and US state and replicate the econometric results of previous research studying its covariates. Finally, we provide the first measure of corruption in American cities. Poverty, population size, service-sector orientation, and ethnic fragmentation are shown to predict higher levels of corruption in urban America. [ABSTRACT FROM AUTHOR]

This paper considers the application of semiparametric methods to estimate propensity scores or probabilities of program participation, which are central to certain program evaluation methods. To evaluate the practical benefits, we first conduct a Monte Carlo study. Second, we use data from the NSW experiment, CPS, and PSID. We compare treatment effect and evaluation bias estimates using propensity scores estimated from parametric logit, semiparametric single index, and semiparametric binary quantile regression models. Our results suggest that it is important to account for very general forms of heterogeneity in (semiparametric) estimation of the propensity score, particularly when the treatment effects vary in an unsystematic manner with the true propensity score. [ABSTRACT FROM AUTHOR]

This study investigates the voluntary allocation of monetary resources to future food consumption by customers of campus cafeterias. A rich dataset allows us to infer social proximity of cafeteria customers and to measure social spillovers in allocation decisions. We show that individuals tend to imitate directly observed behavior and that close social proximity further encourages imitation. [ABSTRACT FROM AUTHOR]

Questions about monetary variables (such as income, wealth or savings) are key components of questionnaires on household finances. However, missing information on such sensitive topics is a well-known phenomenon which can seriously bias any inference based only on complete-case analysis. Many imputation techniques have been developed and implemented in several surveys. Using the German SAVE data, a new estimation technique is necessary to overcome the upward bias of monetary variables caused by the initially implemented imputation procedure. The upward bias is the result of adding random draws to the implausible negative values predicted by OLS regressions until all values are positive. To overcome this problem the logarithm of the dependent variable is taken and the predicted values are retransformed to the original scale by Duan's smearing estimate. This paper evaluates the two different techniques for the imputation of monetary variables implementing a simulation study, where a random pattern of missingness is imposed on the observed values of the variables of interest. A Monte-Carlo simulation based on the observed data shows the superiority of the newly implemented smearing estimate to construct the missing data structure. All waves are consistently imputed using the new method. [ABSTRACT FROM AUTHOR]

Abstract: Investigation of peer effects on achievement with sample survey data on schools may mean that only a random sample of the population of peers is observed for each individual. This generates measurement error in peer variables similar in form to the textbook case of errors-in-variables, resulting in the estimated peer group effects in an OLS regression model being biased towards zero. We investigate the problem using survey data for England from the Programme for International Student Assessment (PISA) linked to administrative microdata recording information for each PISA sample member''s entire year cohort. We calculate a peer group measure based on these complete data and compare its use with a variable based on peers in just the PISA sample. We also use a Monte Carlo experiment to show how the extent of the attenuation bias rises as peer sample size falls. On average, the estimated peer effect is biased downwards by about one third when drawing a sample of peers of the size implied by the PISA survey design. [Copyright &y& Elsevier]

This paper examines productivity and returns to scale under the assumption of monopolistic competition using Japanese firm-level data. Although differentiating products (services) is considered important in firms' strategies and productivity growth, it has not been sufficiently investigated in previous studies. In this paper, we study this issue in two retail trade industries, department stores and supermarkets, applying the model of Melitz (). Our results indicate that the standard production function is not relevant to estimate productivity in imperfectly competitive markets. It also suggests that the market structure should be carefully considered in productivity analysis. In addition, product differentiation has a positive effect on firms' revenue for the supermarkets. Furthermore, the retail trade industries possibly follow increasing returns to scale. Thus, policy measures that promote economies of scale and product differentiation should contribute to further growth in these industries. In addition, the results indicate that the regulatory reform of the retail trade industry in 2000 increased the gap between winners and losers in terms of productivity. [ABSTRACT FROM AUTHOR]

Abstract: Nineteen percent of 1997–98 North Carolina 3rd graders were observed to drop out of high school. A series of logits predict probabilities of dropping out on determinants such as math and reading test scores, absenteeism, suspension, and retention, at the following grade levels: 3rd, 5th, 8th, and 9th. The same cohort and variables are used to estimate benefits to the 15,737 students admitted to a special program ostensibly for academically and intellectually gifted children. I estimate the probability of admission for schoolmates with similar ability in math and reading to be substantially higher for those from upper income households. Finally, I conclude that extending similar resources to an equal number of high-risk students, as determined by their 3rd grade predicted probabilities, would lead to a 25% reduction in the total cohort dropout rate, and that even dividing existing resources between the two groups could cut dropout rates by half that. [Copyright &y& Elsevier]

Abstract: Amongst the many housing markets across the OECD presently experiencing difficulties, the Irish case stands out. Between 2004 and 2007, a significant house price bubble emerged in Ireland, while the real economy was enjoying persistently strong growth rates. The sharp decline in house prices post 2007 coupled with the significant increase in unemployment has generated a combination of difficulties for the Irish residential market. To date, much of the analysis and discussion of the Irish market has tended to focus on either the concept of mortgage repayment distress or potential negative equity. By examining the issue of credit default in the Irish mortgage market, we focus on the interaction between delinquency (repayment distress) and solvency (negative equity). Building on earlier work, which used the Survey on Income and Living Conditions (SILC), we marry existing estimates of repayment distress with estimates of negative equity for a representative sample of Irish households. Using copula modelling we then examine the dependence structure across the distributions of mortgage delinquency and solvency for these households. As a result, we are in a position to estimate the probability that a household experiencing repayment distress might also be in negative equity. [Copyright &y& Elsevier]

We report four repetitions of Falk and Kosfeld's (Am. Econ. Rev. 96(5):1611-1630, ) low and medium control treatments with 476 subjects. Each repetition employs a sample drawn from a standard subject pool of students and demographics vary across samples. We largely confirm the existence of hidden costs of control but, contrary to the original study, hidden costs of control are usually not substantial enough to significantly undermine the effectiveness of economic incentives. Our subjects were asked, at the end of the experimental session, to complete a questionnaire in which they had to state their work motivation in hypothetical scenarios. Our questionnaires are identical to the ones administered in Falk and Kosfeld's (Am. Econ. Rev. 96(5):1611-1630, ) questionnaire study. In contrast to the game play data, our questionnaire data are similar to those of the original questionnaire study. In an attempt to solve this puzzle, we report an extension with 228 subjects where performance-contingent earnings are absent i.e. both principals and agents are paid according to a flat participation fee. We observe that hidden costs significantly outweigh benefits of control under hypothetical incentives. [ABSTRACT FROM AUTHOR]

This study analyses the effects of social capital on the loan repayment behavior of borrowers in Vietnam. In the context of agricultural economics, an innovative data collection approach is used that originates from the field of sociology. A personal network survey is carried out to measure the individual social capital of borrowers. Social capital variables are defined according to tie strength (bonding/bridging) and social distance (linking) between the respondent and his/her network member. Social capital has a significant and positive influence on the rescheduling of loans. However, we find no significant evidence for an effect of social capital on late payment of principal or interest. [ABSTRACT FROM AUTHOR]

In this article we employ the tool of anchoring vignettes to analyze gender differences in self-assessments of health in Europe. We propose and estimate an extension of the basic vignette model for correcting the lack of interpersonal comparability of self-assessments on a categorical scale. Our extension allows for potential correlation in the self-assessments of health on different domains by including an unobservable individual effect, common to all domains but different across individuals, in both the thresholds and the equations for the latent health problems. After applying this model to the SHARE data, we find that vignettes help narrow gender differences in self-assessments of health, although these differences are not entirely eliminated. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Business Economics / Zeitschrift für Betriebswirtschaft is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Abstract: The inferences drawn from the most widely used regression models of subjective welfare are subject to a “frame-of-reference bias,” stemming from non-ignorable heterogeneity in subjective scales, such as what it means to be “rich” or “poor.” To test for this bias, respondents in Tajikistan were asked to rank the economic status of theoretical vignette households, as well as their own. Respondents are found to hold diverse scales, but there is very little bias in either the economic gradient of subjective welfare or most other coefficients of interest. These results provide a foundation for standard survey methods and regression specifications for subjective welfare data. [Copyright &y& Elsevier]

This paper proposes a dual-level inefficiency model for analysing datasets with a sub-company structure, which permits firm inefficiency to be decomposed into two parts: a component that varies across different sub-companies within a firm (internal inefficiency); and a persistent component that applies across all sub-companies in the same firm (external inefficiency). We adapt the models developed by Kumbhakar and Hjalmarsson (J Appl Econom 10:33-47, ) and Kumbhakar and Heshmati (Am J Agric Econ 77:660-674, ), making the same distinction between persistent and residual inefficiency, but in our case across sub-companies comprising a firm, rather than over time. The proposed model is important in a regulatory context, where datasets with a sub-company structure are commonplace, and regulators are interested in identifying and eliminating both persistent and sub-company varying inefficiency. Further, as regulators often have to work with small cross-sections, the utilisation of sub-company data can be seen as an additional means of expanding cross-sectional datasets for efficiency estimation. Using an international dataset of rail infrastructure managers we demonstrate the possibility of separating firm inefficiency into its persistent and sub-company varying components. The empirical illustration highlights the danger that failure to allow for the dual-level nature of inefficiency may cause overall firm inefficiency to be underestimated. [ABSTRACT FROM AUTHOR]

Abstract: While there is an extensive literature on intergenerational transmission of economic outcomes (education, health and income for example), many of the pathways through which these outcomes are transmitted are not as well understood. We address this deficit by analysing the relationship between socio-economic status and child outcomes in university, based on a rich and unique dataset of university students. While large socio-economic differences in academic performance exist at the point of entry into university, these differences are substantially narrowed during the period of study. Importantly, the differences across socio-economic backgrounds in university grade attainment for female students is explained by intermediating variables such as personality, risk attitudes and time preferences, and subject/college choices. However, for male students, we explain less than half of the socio-economic gradient through these same pathways. Despite the weakening socio-economic effect in grade attainment, a key finding is that large socio-economic differentials in the earnings expectations of university students persist, even when controlling for grades in addition to our rich set of controls. Our findings pose a sizable challenge for policy in this area as they suggest that equalising educational outcomes may not translate into equal labour market outcomes. [Copyright &y& Elsevier]

Abstract: This paper presents evidence showing that a libertarian paternalistic intervention having significant but uneven effects on the student procrastination of a coursework assignment. We observe the degree of procrastination in a language course at a Japanese university with individuals’ electronic records of daily activities. With a quasi-experiment that generates variations in the frequency of interventions and the preference of students towards the course, we examine the effects of in-class verbal prompts by an instructor on the timing of task completion. We find that prompts affect behavior, especially when reinforced, but the responsiveness depends on the class preferences and the timing of interventions. [Copyright &y& Elsevier]

Building upon a formerly performed study on port competitiveness, this article discusses the use of a stochastic frontier model as an interesting novel use to test, identify and correct respondents' bias by applying it to competitiveness analysis based on perceptions of senior executives. Measuring the importance of competition determinants of seaports, conventionally analyzed using a SWOT-analysis based on (transport) infrastructure as a prime requirement for port activity growth, is an important issue to port management. However, it seems that the 'institutional' environment of a seaport is also critical in obtaining a competitive advantage. In Haezendonck et al. (2000 and 2001) those port specific advantages and disadvantages were identified using factor analysis and L1-regression on the perceptions of 75 respondents, all senior executives and experts, through a survey. As regards the results of this study, critiques were formulated on the use of perceptions, often biased due to the political lobbying potential of the results. Since respondents often see independent studies as an opportunity to obtain more or early government subsidies, attract new investment projects or at least highlight the attention on their specific problems and demands, they were prone to underestimating the positive impact of the key success factors of the studied seaport compared to its main rivals, in this case major seaports in the so-called Hamburg-Le Havre competitive range. The purpose of this article is to test the assumption that respondents significantly underestimate the positive impact of port specific advantages and to see which of the respondent subgroups within the 75 respondents sample are more responsible than others for this underestimation. In addition, we argue and demonstrate that the use of a stochastic frontier method is appropriate for this matter. Each of 25 considered competition determinants of the original study is decomposed into a noise and 'efficiency' term, based on the Bayesian stochastic frontier model (BSFM). In this article, we find evidence that BSFM could be used to test the 'lobby-effect' or underestimation of the real effect of determinants, that terminal operators as a subgroup of respondents, are more likely to underestimate the key success factors than the subgroup of port experts and that those determinants that are directly related to government action show more underestimation than competitiveness determinants that result from private investments. [ABSTRACT FROM AUTHOR]

Standard innovation surveys do not consider incoming spillovers for non-innovative firms. As a consequence, empirical works may overestimate the absorptive capacity effect, particularly among competitors. The Swiss innovation surveys presented here measure the importance of knowledge for both innovating and non-innovating firms. This original feature enables us to show that knowledge from rivals actually deters manufacturing firms from engaging in R&D activities. We therefore provide stronger evidence that the efficiency effect due to intra-industry spillovers is larger than that generally estimated by data from standard surveys. The R&D based absorptive capacity is weaker than expected, and non-innovative firms as well as non-R&D firms heavily rely on their rivals' knowledge to maintain their technological capacities. [ABSTRACT FROM AUTHOR]

In rural Cameroon, many people have no access to quality healthcare services. This is largely attributed to lack of private out-of-pocket payment to finance healthcare services. A community-based prepayment health insurance scheme may be implemented to improve healthcare access in rural areas. This study examines the determinants of willingness-to-pay for a community-based prepayment healthcare system using a contingent valuation method conducted in rural Cameroon. To mitigate potential hypothetical bias, a consequential script is introduced in the questionnaire. The results indicate age, religion, profession, knowledge of community-based health insurance, awareness of usual practice in rural areas, involvement in association and disposable income are the key determinants of willingness to pay for a prepayment health scheme. On average, willingness to pay for the scheme by rural households is 1011 CFA francs/person/month (2.15 US dollars). The results underlie two important implications: first, there is substantial demand for a community healthcare prepayment scheme by rural poor households in Cameroon; second, rural households are averse to health shocks and hence they are willing to sacrifice monthly premium payments to protect themselves (and their households) from unforeseen health-related risks. If government could engage in social marketing strategies such as mass media campaigns and awareness, this could prove vital for encouraging participation by the rural poor in healthcare prepayment scheme in Cameroon. [ABSTRACT FROM AUTHOR]

Abstract: This paper explores the relationship between the two main dimensions of early-life environment, namely disease burden (measured by infant mortality) and economic conditions (measured by income or consumption per capita), and height and body-mass index (BMI) for six annual cohorts of young Italian men born between 1973 and 1978. By combining micro-level data on height and weight with regional- and province-level information, we are able to link individual height and BMI at age 18 to regional and provincial averages of environmental variables in the year of birth. Our results are consistent with the hypothesis that, in rich low-mortality settings, the negative effects of childhood disease dominate the positive selection effects of mortality. We find that both income and disease matter, although income matters more than disease for height, while the opposite is true for BMI. [Copyright &y& Elsevier]

Abstract: Understanding of structural change is compromised because scholars do not clearly articulate the limits of the classification infrastructure (NAICS or GICS) that shapes empirical analysis. These limits are particularly salient in the study of innovation, an activity that by its nature challenges existing categories. Because innovative industries are often not part of the classification infrastructure, they are invisible in empirical analyses and in government statistics. This paper examines the classification of a population of highly innovative, often small, firms working in gaming devices, packaging, filtration, photonics, imaging, biomedical research and fabless semiconductor design. I find examples of knowledge integration, vertical disintegration and emerging industries that challenge both NAICS and GICS exposing their strengths and weaknesses. [Copyright &y& Elsevier]

There is increasing interest in assessing how sponsored research funding influences the development and trajectory of science and technology. Traditionally, linkages between research funding and subsequent results are hard to track, often requiring access to separate funding or performance reports released by researchers or sponsors. Tracing research sponsorship and output linkages is even more challenging when researchers receive multiple funding awards and collaborate with a variety of differentially-sponsored research colleagues. This article presents a novel bibliometric approach to undertaking funding acknowledgement analysis which links research outputs with their funding sources. Using this approach in the context of nanotechnology research, the article probes the funding patterns of leading countries and agencies including patterns of cross-border research sponsorship. We identify more than 91,500 nanotechnology articles published worldwide during a 12-month period in 2008-2009. About 67% of these publications include funding acknowledgements information. We compare articles reporting funding with those that do not (for reasons that may include reliance on internal core-funding rather than external awards as well as omissions in reporting). While we find some country and field differences, we judge that the level of reporting of funding sources is sufficiently high to provide a basis for analysis. The funding acknowledgement data is used to compare nanotechnology funding policies and programs in selected countries and to examine their impacts on scientific output. We also examine the internationalization of research funding through the interplay of various funding sources at national and organizational levels. We find that while most nanotechnology funding is nationally-oriented, internationalization and knowledge exchange does occur as researchers collaborate across borders. Our method offers a new approach not only in identifying the funding sources of publications but also in feasibly undertaking large-scale analyses across scientific fields, institutions and countries. [ABSTRACT FROM AUTHOR]

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Copyright of AStA Wirtschafts- und Sozialstatistisches Archiv is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Abstract: This paper uses subjects’ diverse self-reported justifications to explain discrepancies between observed heterogeneous behavior and the unique equilibrium prediction in a one-shot traveler''s dilemma experiment. Principal components analysis suggests that iterative reasoning, aspiration levels, competitive behavior, attitudes towards risk and penalties and focal points may be behind different choices. Such reasons are coherent with same subjects’ behavior in other tests and experiments in which these particular issues are prominent, and thus, we identify “types” of subjects. Overall, we conclude that subjects’ self-justifications in complex strategic situations contain informational value which may be used to predict behavior in other situations of economic importance. [Copyright &y& Elsevier]

The aim of this study is to use the Japanese university employee list (published by Kojunsha) to compile a database of teacher transferrals in higher education (HM-DB) at 9 points in time over the 21-year period from 1988 to 2008, and then to use this database to assess and analyze the status of national university teachers immediately before and after assuming office as professors in order to gain some understanding of the transferral mechanisms of teachers at Japan's national universities. From the results of cross-tabulation analysis, it has become clear that a growing proportion of transfers involving the appointment of professors involve movements between very similar universities (transferral blocking phenomenon), and that there is a growing tendency for professorial appointments to involve a migration from universities with a lower share of published research papers to universities with a higher share. Also, by constructing a log-linear model and performing a residual analysis, we have found that although these trends are clearly apparent, they do not yet have a great deal of influence. [ABSTRACT FROM AUTHOR]

We study the estimation of risk preferences with experimental data and focus on the trade-offs when choosing between two different elicitation methods that have different degrees of difficulty for subjects. We analyze how and when a simpler, but coarser, elicitation method may be preferred to the more complex, but finer, one. Results indicate that the more complex measure has overall superior predictive accuracy, but its downside is that subjects exhibit noisier behavior. Our main result is that subjects' numerical skills can help better assess this tradeoff: the simpler task may be preferred for subjects who exhibit low numeracy, as it generates less noisy behavior but similar predictive accuracy. For subjects with higher numerical skills, the greater predictive accuracy of the more complex task more than outweighs the larger noise. We also explore preference heterogeneity and provide methodological suggestions for future work. [ABSTRACT FROM AUTHOR]

Abstract: There is abundant literature in experimental research on decision making under risk, which compares, and ranks subjects’ preferences on the basis of some elicitation method. The present paper performs a similar analysis in order to compare them. Since pricing data lead in many cases to some anomalies (i.e. status quo bias, endowment effect) we examine three mechanisms to elicit price preferences: willingness-to-pay in a second-price auction, willingness-to-accept in a second-price auction, and certainty equivalent elicited with BDM. A Bayesian interpretation of our results suggests that it is not possible to state ex ante the more appropriate elicitation method for a particular subject: for 1/3 of our sample WTP is preferred, for 1/3 of our sample WTA is preferred, and for the remaining 1/3 BDM is preferred. [ABSTRACT FROM AUTHOR]

This article describes the results of a pilot study that tested the feasibility of estimating quantitatively the regional and economic impacts of NSF-supported Engineering Research centers. For regional impacts, we combined estimates of the direct plus indirect and induced economic impacts of ERC expenditures generated from a regional input–output model with estimates of the additional impact on the state due to center-based start-up companies, licensing income from intellectual property produced by the center, the cost savings enjoyed by local firms that had hired center graduates, and advice and consulting to local firms by center faculty. For national economic impact, a suitably modified version of the regional approach was employed, supplemented by use of a consumer surplus model to estimate the net public benefits of newly commercialized technologies based in center research. As the project proceeded, it became clear that efforts to focus solely on economic impacts that could be quantified relatively easily would greatly underestimate the actual national economic impact of ERCs. The types of impacts included and the kinds of data collected from centers and their collaborating companies were therefore expanded in the later case studies. Results of the first three cases are described here; findings from the remaining two studies did not change our overall results or conclusions. The profile of regional and, especially, national economic impact estimates varied widely across the centers studied. Only some of these variations could be attributed to ERC characteristics; most were the result of variations in the amount and type of data that could be obtained from the centers involved and the companies they worked with. We concluded that even the most conscientious and costly data collection efforts would be unlikely to yield comparable data across centers because the accessibility of key data, especially proprietary data, will differ unpredictably from center to center. Further, focusing on narrowly-conceived, quantifiable economic data alone should be avoided in these kinds of impact studies. Doing so distorts the amount and characteristics of actual impacts, many of which—perhaps most of which—cannot feasibly be converted to monetary terms. Such a narrow focus will greatly underestimate the impact of ERC-like centers, masking the much broader and, based on our findings, larger and more significant impacts on society. [ABSTRACT FROM AUTHOR]

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We show how bounds around preferences parameters can be estimated under various levels of assumptions concerning the beliefs of senders in the investment game. We contrast these bounds with point estimates of the preference parameters obtained using non-incentivized subjective belief data. Our point estimates suggest that expected responses and social preferences both play a significant role in determining investment in the game. Moreover, these point estimates fall within our most reasonable bounds. This suggests that credible inferences can be obtained using non-incentivized beliefs. [ABSTRACT FROM AUTHOR]

Copyright of Jahrbuch fur Regionalwissenschaft is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper develops a decomposition algorithm by which a market economy with many households may be solved through the computation of equilibria for a sequence of representative agent economies. The paper examines local and global convergence properties of the sequential recalibration (SR) algorithm. The SR algorithm is then demonstrated to efficiently solve Auerbach–Kotlikoff OLG models with a large number of heterogeneous households. We approximate equilibria in OLG models by solving a sequence of related Ramsey optimal growth problems. This approach can provide improvements in both efficiency and robustness as compared with integrated complementarity-based solution methods. [ABSTRACT FROM AUTHOR]

Copyright of AStA Wirtschafts- und Sozialstatistisches Archiv is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We report results from a validation study of the Nielsen Homescan consumer panel data. We use data from a large grocery retailer to match transactions that were recorded by the retailer (at the store) and by the Homescan panelist (at home). The matched data allow us to identify and document discrepancies between the two data sets in reported shopping trips, products, prices, and quantities. We find that the discrepancies are largest for the price variable, and show that they are due to two effects: the first seems like standard recording errors (by Nielsen or the panelists), while the second is likely due to the way Nielsen imputes prices. We present two simple applications to illustrate the impact of recording differences, and we use one of the applications to illustrate how the validation study can be used to adjust estimates obtained from Nielsen Homescan data. The results suggest that while recording discrepancies are clearly present and potentially impact results, corrections, like the one we employ, can be adopted by users of Homescan to investigate the robustness of their results to such potential recording differences. [ABSTRACT FROM AUTHOR]

Abstract: We examine the effect of household financial indebtedness on psychological well-being using a large household survey of families with children in Britain. Existing studies that find a link between debt and depression tend to utilise small and highly selective samples of people and only self-reported measures of financial stress, responses to which are likely to correlate with subjective measures of health. From additional household data, we can construct a variety of ‘objective’ quantitative measures of financial stress in order to validate self-reported measures. We show that, although there is a positive association between subjective measures of financial well-being and psychological well-being, individuals differ in their psychological response to objective household financial situations. We also examine how the potential simultaneity of financial and psychological health might be handled. [Copyright &y& Elsevier]

This paper provides case study evidence on two relevant issues in estimating the relationship between WTP and income using contingent valuation: (1) the choice of income measure; and (2) the modelling choice. Addressing these issues, a sensitivity analysis is performed on a dataset concerning implementation of the Swedish predator policy. The results show that the estimated income-elasticity of WTP varies between 0.12 and 0.40 for the models estimated. The main conclusion drawn from the analysis is that controlling for the number of adults in the household is important for finding a significant income effect, when the household income measure is used. Besides this finding the empirical analysis finds little support for the hypothesis that the choice of income measure and modelling assumptions significantly influence the overall model fit. [ABSTRACT FROM AUTHOR]

The use of subjective wellbeing (SWB) data in economic analysis has increased dramatically in recent years and has now become mainstream, despite some lingering concerns about the quality of these data. Although the psychology literature to a certain extent has succeeded in addressing the issues of interpersonal, intertemporal and international comparison of SWB data, the issues of cardinality, neutrality and additivity continue to be contentious among economists. This article surveys the existing literature relevant to these issues in an effort to provide clarity and thus assist SWB data users to develop more robust research designs. [ABSTRACT FROM AUTHOR]

Cost efficiency of banks in 20 former socialist emerging economies is analyzed using a latent class stochastic efficiency frontier model that explicitly accounts for unobserved differences in technological regimes due to the heterogeneity of economic environments in which the banks are operating. We find that banking systems in former socialist emerging economies are characterized by three distinct technological regimes. Based on the estimated efficiency scores we group the countries into three categories and provide an intuitive interpretation of these three regimes. [ABSTRACT FROM AUTHOR]

Abstract: Where should experimental economics go next? This paper uses the literature on inequity aversion as a case study in suggesting that we could profit from tightening up our act. [Copyright &y& Elsevier]

We analyse the determinants of non-response to questions on financial items such as income and asset holdings in household surveys. Our data come from a controlled field experiment. As part of the SAVE study – a representative survey conducted in Germany in 2001 – questions on household income and financial assets were administered using different modes (personal interview versus drop-off questionnaire). The data also allow us to investigate the influence of interviewer characteristics on non-response. Our results are in line with predictions derived from models of survey response behaviour that have been developed in survey research and social psychology. [ABSTRACT FROM AUTHOR]

This paper tests for a number of survey effects in the elicitation of expenditure items. In particular, we examine the extent to which individuals use features of the expenditure question to construct their answers. We test whether respondents interpret question wording as researchers intend and examine the extent to which prompts, clarifications and seemingly arbitrary features of survey design influence expenditure reports. We find that over one-quarter of respondents have difficulty distinguishing between ‘you’ and ‘your household’ when making expenditure reports; that respondents report higher pro-rata expenditure when asked to give responses on a weekly as opposed to annual timescale; that respondents give higher estimates when using a scale with a higher midpoint; and that respondents report higher aggregated expenditure when categories are presented in a disaggregated form. In summary, expenditure reports are constructed using convenient rules of thumb and available information, which will depend on the characteristics of the respondent, the expenditure domain and features of the survey question. It is crucial to further account for these features in ongoing surveys. [ABSTRACT FROM AUTHOR]

We report on a data initiative that is designed to address the question of ‘who gets what’ within the household. The data consist of supplements to the Danish Household Expenditure Survey (DHES), which is a traditional nationally representative diary-based survey of expenditures. We collect supplementary data of two kinds for all couples (with or without children) in the survey. The first set of additional information is that respondents report on the intra-household allocation of each item of expenditure recorded in the diary. The allowed assignments are ‘the whole family’, ‘the wife’, ‘the husband’, ‘the children’, ‘others’ and ‘not assignable’. The second addition is an extra set of ‘sociological’ questions concerning household financial management, autonomy and family background. We focus on the survey design and give some descriptive statistics from the survey. We also show how the distribution of expenditure on clothing, which is often used to look at intra-household allocation, is related to the distribution of expenditure on other goods. The paper concludes that it is feasible to collect information on ‘who gets what’ within the household and that some sociological questions provide valuable supplementary information for some issues of interest. [ABSTRACT FROM AUTHOR]

It has traditionally been believed that collecting survey measures of total spending necessarily involved asking a large number of questions, too many for inclusion of a comprehensive spending measure in a general-purpose survey. In this paper, we report on a supplemental survey to the Health and Retirement Study that took up this challenge. We discuss issues that arise when designing a survey module to collect spending data with strict time constraints, describe how the implementation in the Consumption and Activities Mail Survey (CAMS) played out, and elicit anomalies that more detailed analysis of data quality revealed. We report how we addressed some of these anomalies in subsequent waves of CAMS. Other anomalies required conducting some randomised experiments to find what explains the observed patterns. The results highlight the tension between asking about spending using a long time frame, which exacerbates recall bias, versus using a short time frame, which risks relying on an unrepresentative snapshot of a household's spending to proxy the total for the last 12 months. An important complicating factor in deciding which goods should be put into which time frames is that there is substantial heterogeneity in the frequency of spending across households even for the same category of spending. [ABSTRACT FROM AUTHOR]

The article discusses various topics published within the issue including the microdata on expenditure, the data quality in traditional budget and the groundbreaking attempt in collecting information on the allocation household consumption.

In terms of collecting panel expenditure data, there are trade-offs between the demands imposed on respondents and the detail and coverage of data collected. Comprehensive spending data tend to be cross-sectional whilst panel studies include only limited, aggregated expenditure questions. Recently, economists have begun to use detailed, bar-code-level spending data from household panels collected by market research companies. However, there has not been a detailed assessment of the strengths and weaknesses of this collection method or its implications for the recorded data. This paper seeks to fill this gap by providing an in-depth examination of data from one company, Taylor Nelson Sofres (TNS), recording grocery purchases over five years. We assess how far the ongoing demands of participation lead to ‘fatigue’ in respondents' recording of their spending and the implications for household attrition, and we provide a detailed comparison of the expenditure data collected by TNS and the well-established Expenditure and Food Survey (EFS). Broadly, we suggest that problems of fatigue and attrition may not be particularly severe, though there are differences in expenditures that cannot be attributed to demographic or time effects and may be suggestive of survey mode effects. [ABSTRACT FROM AUTHOR]