|The Development and Estimation of a Latent Choice Multinomial Logit Model with Application to Contingent Valuation
||We offer a new approach to investigate hypothetical bias in contingent valuation using a latent choice multinomial logit model. To develop this model, we extend Dempster, Laird, and Rubin’s 1977 work on the expectations maximization algorithm to the ...
|The Dilemma of Choosing Talent: Michael Jordans are Hard to Find
||This article explores the dilemma of choosing talent using NBA data from
1987 to 2003. We find there is much uncertainty in selecting talent.
If superstars are found, they are usually identified early. However, more
false positives exist than corr...
|Does Don't Know Mean No? Analysis of ‘Don't Know’ Responses in Dichotomous Choice Contingent Valuation Questions
||The 'don't know' response option in contingent valuation dichotomous choice questions is analysed using data from both willingness to pay and willingness to accept studies. An empirical analysis is conducted to determine whether respondents are stati...
|Early Entry in the NBA Draft: The Influence of Unraveling, Human Capital, and Option Value
||In an influential article, “Unraveling in Matching Markets,” Li and Rosen (1998) note that
the first 7 picks, and 17 among 29 first-round selections, of the 1997 National Basketball
Association (NBA) draft were not college seniors. By 2004, the fir...
|Exit Discrimination in Major League Baseball: 1990-2004
||Using a panel study of annual Major League Baseball (MLB) data (1990- 2004), we do not find
evidence that race affects the career duration of black hitters. Our findings are inconsistent with
results from a study by Jiobu (1988) who used 1971 - 198...
|Exit Discrimination in the NBA: A Duration Analysis of Career Length
||Using a panel study of annual NBA data (1989-99), evidence of exit discrimination on career length in the NBA is not found. This result is inconsistent with results from data in the 1980s but is consistent with more recent findings that have measured...
|Green Vs. Green: Measuring the Compensation Required to Site Electrical Generation Windmills In a Viewshed
||Proponents of wind power note that wind is a green energy source. Yet locating electrical generating windmills has become difficult in some localities because of potential negative externalities. We address why the NIMBY syndrome may arise when choos...
|Locating Hazardous Waste Facilities: The Influence of NIMBY Beliefs
||The 'Not-In-My-Backyard' (NIMBY) syndrome is analyzed in economic decision making. Belief statements that reflect specific NIMBY concerns are subjected to factor analysis and the structure reveals two dimensions: tolerance and avoidance. Tolerance re...
|Measuring the Economic Benefits of Saginaw Bay Coastal Marsh with Revealed and Stated Preference Methods
||We estimate the economic benefits of Saginaw Bay coastal marsh with the travel cost and contingent valuation methods. The travel cost method is based on revealed preferences: actual recreation behavior. Using a sample of the general population of Mic...
|Nepotism or Family Tradition? A Study of NASCAR Drivers
||Of the drivers who raced National Association for Stock Car Auto Racing (NASCAR)
cup series in 2005, 23 out of 76 had family connections. Family career following is
not unique to NASCAR, it is common in many careers such as law, politics, business,...
|The New NBA Collective Bargaining Agreement, the Median Voter Model, and a Robin Hood Rent Redistribution
||In this article, it is suggested that the new collective bargaining agreement (CBA) in the
National Basketball Association (NBA) redistributes rents from the superstars back to the
median voters. In particular, it is suggested that portions of the ...
|Positive Assortative Mating and Spouses as Complementary Factors of Production: A Theory of Labour Augmentation
||This article develops a model of intellectual labour augmentation to explain
both the marriage wage premium and educational assortative mating. We
suggest that husbands and wives are complementary factors of production
where a spouse’s education a...
|Public Funding of Professional Sports Stadiums: Public Choice or Civic Pride
||Abstract not available
|Retail competition in electricity supply—Survey results in North Carolina
||Residential retail competition in electricity supply was introduced in many countries and some US states as part of electricity industry deregulation. Following problems in the electricity market in California in 2000/2001 many US states, including N...
|The Role of Social Distrust in Risk-Benefit Analysis: A Study of the Siting of a Hazardous Waste Disposal Facility
||Distrust of social institutions is becoming an important component of risk communication and policy analysis. To assess the impact of social distrust on decision making, we examine the role of distrust of information sources on the willingness to acc...
|Testing for Non-Response And Sample Selection Bias in Contingent Valuation: Analysis of a Combination Phone/Mail Survey
||We use a combination phone/mail survey to test for possible sample biases in contingent valuation. We find no sample selection bias hut do find non-response bias. We show how failure to correct for non-response bias distorts aggregate benefit estimat...
|Time on Camera: An Alternative Explanation of NASCAR Tournaments
||National Association for Stock Car Auto Racing’s (NASCAR) monetary reward
structure uses a linear payout for races, with a nonlinear payout for the season
long tournament. The authors suggest that the season long nonlinear payout is
magnified by t...
|Using Contingent Valuation to Measure the Compensation Required to Gain Community Acceptance of a LULU: The Case of a Hazardous Waste Disposal Facility
||The contingent valuation (CV) method was used to measure the compensation required for the siting of a hazardous waste disposal facility. Previous studies using the CV method were examined to determine the importance of subjective risk assessment. A ...
|The Value of Public Goods Generated by a Major League Sports Team: The CVM Approach
||This article reports an application of the contingent valuation method to measure the value
of public goods generated by a professional sports team, the Pittsburgh Penguins of the
National Hockey League. The data and analysis indicate that a major ...
|The Willingness To Pay to Remove Billboards and Improve Scenic Amenities
||We use the contingent valuation method to measure the amount citizens are willing to pay to improve scenic mountain-view amenities through the removal of billboards. Our approach addresses both the perceived property rights as well as the perceptions...