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Resource economists are often asked to value a proposed change at one, and only one, recreational site; the model we develop and estimate is applicable for those cases. The application is valuing the elimination of fish consumption advisories on a large bay on Lake Michigan. The model is minimal but complete: complete in that the choice set is not restricted, minimal in that only two conditional indirect utility functions are estimated. It is utility-theoretic and one does not have to collect characteristic data on all of the other fishing sites in the region. Data include the number of trips each individual currently takes to Green Bay, answers to "would you prefer to fish Green Bay under conditions A or B?" and how often each angler says they would fish Green Bay under different sets of conditions. 相似文献
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Xie KefanChen Gang Desheng Dash WuCuicui Luo Wu Qian 《International Journal of Production Economics》2011,134(1):78-86
It is well-known that some cognitive factors such as opportunity perception and risk perception influence entrepreneurial risk-based decision-making (RBDM). This paper proposes some rules of entrepreneur's risk decision-learning to address this RBDM taking cognitive factors into consideration. The learning mechanisms of entrepreneurial team's RBDM is derived based on entrepreneur's perception evolution. The paper employs a system dynamics model to analyze the entrepreneurial team's risk decision-learning. A case study is conducted to demonstrate the entrepreneurial RBDM process with cognitive factors. 相似文献
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We study the Bank of Korea’s interest rate setting behaviour using an array of constrained ordered choices models, where the Monetary Policy Committee revises the target policy interest rate only when the current market interest rate deviates from the optimal rate by more than certain threshold values. Our models explain changes in the monetary policy stance well for the monthly frequency Korean data since January 2000. We find important roles for the output gap and the foreign exchange rate in understanding the Bank of Korea’s rate decision-making process. We also implement out-of-sample forecast exercises with September 2008 (Lehman Brothers Bankruptcy) for a split point. We demonstrate that out-of-sample predictability improves greatly for the rate cut and the rate hike decisions using SE-adjusted inaction bands. 相似文献
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Hyunduk Suh 《新兴市场金融与贸易》2016,52(9):1985-2000
The Korean government implemented money market reform after the global financial crisis, aiming to develop the repurchase agreement (RP, repo) market. In this article, I analyze the reform and its effects on money markets. Results show that the reform strengthened the functionality of the RP market and the monetary policy transmission channel to it. The error correction model indicates that although the adjustments to the equilibrium occurred through the call rate during the global financial crisis, they were processed through the RP rate in later periods. The ability of the RP rate to inform market liquidity conditions has improved. 相似文献
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This paper analyzes travelers' choice behavior by using combined revealed preference/stated preference (RP/SP) survey data on work-trip mode choice in Shanghai, taking into consideration different scales across the two data sources. Several versions of a multinomial choice model are specified and estimated. The estimation results suggest that the utility function with money cost divided by income by equivalence scale be chosen as the preferred model. Based on the preferred model, values of time and sample aggregate elasticities of choice probabilities are calculated. The results show that values of “in-vehicle time” and “out-of-vehicle time” are 64 and 82% of the sample mean wage, and that in terms of elasticities, “in-vehicle time”, “out-of-vehicle time” and “money cost” are the most important attributes for bus, subway and taxi passengers, respectively. The conditional elasticities given low, middle and high income levels indicate that bicycles seem to be an inferior good for all income levels. Bus and subway transport are inferior goods for people at middle and high income levels but normal goods for those at a low income level. Taxis are a normal good only for low income levels; for middle and high income levels, they are a luxury good. The results obtained may be used for transportation policymaking in Shanghai. 相似文献
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李正义 《山西经济管理干部学院学报》2010,18(2):136-137
在英语学习中,发音十分重要。本文从一个侧面谈了英语发音与普通话的关系,指出了如何借助普通话来学好英语、说好英语,变"哑巴英语"为"喇叭英语"。 相似文献
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Mara Thiene Riccardo Scarpa Luigi Galletto Vasco Boatto 《Agricultural Economics》2013,44(4-5):523-536
We report the results of a study based on revealed and stated preference data on choice of Prosecco wines in retail stores close to the origin of production in Northern Italy. Emphasis is placed on ability to reconcile the utility structure of stated preference data with that underlying revealed preference data. We extend the analysis to cover nonattendance of key attributes, such as price and certification of origin, while controlling for the large range of brand effects. 相似文献
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