Bootstrap of a linear model with AR-error structure

We consider a linear model with autoregressive error structure. It is shown that with probability one the distribution of the two-stage GLS estimator admits a bootstrap approximation. In a simulation study it is demonstrated that the bootstrap outperforms the normal approximation if the innovation variables are heavily correlated.     

I. Allgemeine Wirstchaftslehre

Ohne Zusammenfassung     

Are consumers heterogeneous in their preferences for odd and even prices? Findings from a choice-based conjoint study

While marketing theories provide some justification for the common practice of setting 9-ending prices, the results of empirical studies are not conclusive on the effects of odd pricing. Nearly all empirical studies have been conducted at the aggregate consumer level, thereby implicitly assuming that consumers respond to odd prices homogeneously. In this research, we analyze consumers' preferences for 9-ending versus 0-ending prices at the individual level. Our findings suggest that some consumers strongly prefer 9-ending prices, whereas other consumers favor 0-ending prices. We further address the existence of level effects and investigate the influence of consumer characteristics on preferences for odd prices.