Hypothesis testing for arbitrary bounds

I derive a rigorous method to help determine whether a true parameter takes a value between two arbitrarily chosen points for a given level of confidence via a multiple testing procedure which strongly controls the familywise error rate. For any test size, the distance between the upper and lower bounds can be made smaller than that created by a confidence interval. The procedure is more powerful than other multiple testing methods that test the same hypothesis. This test can be used to provide an affirmative answer about the existence of a negligible effect.     

PLANNING AND TACTICAL FACTORS IN THE PROJECT IMPLEMENTATION PROCESS

It has been a well-recognized axiom in project management research that the project implementation process can be greatly facilitated by addressing a variety of project critical success factors. It is argued here that critical factors often fall into two distinct sub-groups: those related to initial project planning and those concerned with subsequent tactical operationalization. A field study was conducted to explore changes in the perceived importance of project planning and tactical factors across four stages in the project life cycle. The sample consisted of 408 managers currently involved in projects. It was found that the relative importance of planning and tactical factors varies across the project life cycle. Further, the perceived importance of these factors is contingent upon the type of success measure employed. When an efficiency success measure is used, planning factors are initially perceived to be of high importance but are overtaken by tactical issues as the project progresses through its life cycle. When ‘external’ success measures (perceived value of the project and client satisfaction) are employed, project planning factors dominate tactics throughout the project's life cycle. Finally, implications for managers are developed and directions for future research are discussed.     

GMM estimation of a maximum entropy distribution with interval data

We develop a generalized method of moments (GMM) estimator for the distribution of a variable where summary statistics are available only for intervals of the random variable. Without individual data, one cannot calculate the weighting matrix for the GMM estimator. Instead, we propose a simulated weighting matrix based on a first-step consistent estimate. When the functional form of the underlying distribution is unknown, we estimate it using a simple yet flexible maximum entropy density. Our Monte Carlo simulations show that the proposed maximum entropy density is able to approximate various distributions extremely well. The two-step GMM estimator with a simulated weighting matrix improves the efficiency of the one-step GMM considerably. We use this method to estimate the U.S. income distribution and compare these results with those based on the underlying raw income data.     

Spatial and temporal patterns of demand for hotel accomodation: Time series analysis in Yorkshire and Humberside,UK

This article is concerned with the identification and interpretation of spatial-temporal patterns of demand for hotel accomodation. Time-series factor analysis is applied to a set of monthly hotel-occupancy series recorded by the Yorkshire and Humberside Tourist Board (YHTB) for 101 hotels in Yorkshire and Humberside, UK, from April 1982 to March 1983. Three major temporal components of expressed demand for hotel accomodation (reference curves) are identified, reflecting differences in occupancy level, the intensity of seasonal fluctuations, and the length of season. The hotels are differentiated, and then grouped, on the basis of their individual parameters on the three reference curves. The spatial-temporal patterns identified form the basis of continuing research which aims to aid the formulation of appropriate marketing and development policies for the hotel industry.     

The Campus Parking Game: A Demonstration of Price Discrimination and Efficiency

This article presents a classroom game that allows students to directly experience the welfare improvements that can result from price discrimination. The demonstration uses a very familiar decision-making scenario, campus parking, to introduce the concept of price discrimination as well as reinforce the concepts of opportunity cost, consumer surplus, and search costs. This game can be used in a variety of classes, including principles, intermediate theory, industrial organization, or environmental economics, and can be conducted in a 50-minute class period with follow-up discussion in the next class.     

Labor supply in urban China

Using labor supply responses from 10,560 urban Chinese workers, two-stage least squares estimations identify positive compensated wage effects and negative income effects that are, for the most part, statistically significant. The gross wage effects are mostly positive but they indicate relatively low uncompensated labor supply elasticities. The compensated wage effects are much larger; these may be important in assessing the labor market consequences of reform policies that monetize non-pecuniary benefits. The significance of labor supply responses depends on individual responsibilities within the family; the effects are largest for women and non-household heads. Journal of Comparative Economics 31 (4) (2003) 795–817.