Ensuring quality in higher education through student fees1

The article questions the myth of inequality and elitism on the grounds of tuition fees in higher education. It argues that the key to a successful transformation in higher education lies in the ability to provide ‘high quality products,’ driven by independent charges or fees and an equitable loan finance system. Unless these conditions are met, the author predicts an overcrowded university system and falling academic standards.     

Has Dodd–Frank affected bank expenses?

Journal of Regulatory Economics - This paper examines the potential effects of the Dodd–Frank Act of 2010 on banks’ noninterest expenses. Using data on U.S. bank holding companies from...     

Process,goal, and social interaction differences in recreation: What makes an activity substitutable

Abstract

In the present study two recreational activities, deer hunting and goose hunting, both similar in form, are compared. The study shows that the activity with the fewest perceived substitutes, deer hunting, also showed higher mean ratings on items measuring the importance of various elements of the experience, such as the process of participation, the goal of the activity, and the social interaction that accompanies the activity by the participants. Deer hunters also reported greater participation in the activity by peers and were more likely to be introduced to the activity by a family member. It is argued that these differences in the importance of the elements of the experiences influence the perceived substitutability of a recreational activity.     

Sample bias in contingent valuation: A comparison of the correction methods

Abstract

This article compares various methods for correcting contingent valuation aggregate benefits when the sample is known to be biased. A sample is defined as the population, and response rates are simulated on the basis of a measure of salience. The simulated response rates suffer from nonresponse bias and selection bias. Coefficient and benefit estimates that result from weighting and self‐selection correction approaches are compared with the true coefficient and benefit estimates. Our results indicate that at both low and high response rates the standard approach leads to bias, and either correction approach will reduce the bias in coefficient and benefit estimates.     

Das Wiederholungsparadoxon

In this paper we discuss how repetition of a single statement affects its perceived credibility. Using an experimental design, our results support previous psychological studies on the “truth-effect”, which have shown that repeated messages are considered more credible than non-repeated messages. In addition, our study sheds light on the unanswered question why the truth-effect vanishes or reverses if statements are repeated too often. Analysis strongly points to a parallel, indirect negative effect, caused by participants showing reactance as a consequence of repetition.     

Variable Selection in Cross‐Section Regressions: Comparisons and Extensions

Cross‐section regressions often examine many candidate regressors. We use multiple testing procedures (MTPs) controlling the false discovery rate (FDR) — the expected ratio of false to all rejections — so as not to erroneously select variables because many tests were performed, yielding a simple model selection procedure. Simulations comparing the MTPs with other common model selection criteria demonstrate that, for conventional tuning parameters of the selection procedures, only MTPs consistently control the FDR, but have slightly lower power. In an empirical application to growth, MTPs and PcGets/Autometrics identify similar growth determinants, which differ somewhat from those obtained by Bayesian Model Averaging.