Measuring the Economic Effect of Global Warming on Viticulture Using Auction,Retail, and Wholesale Prices

In this paper we measure the effect of year-to-year changes in the weather on wine prices and winery revenue in the Mosel Valley in Germany in order to determine the effect that climate change is likely to have on the income of wine growers. A novel aspect of our analysis is that we compare the estimates based on auction, retail, and wholesale prices. Although auction prices are based on actual transactions, they provide a thick market only for high quality, expensive wines and may overestimate climate’s effect on farmer revenues. Wholesale prices, on the other hand, do provide broad coverage of all wines sold and probably come closest to representing the revenues of farmers. Overall, we estimate a 1°C increase in temperature would yield an increase in farmer revenue of about 30%.     

Social factors and company location decisions: Technology,quality of life and quality of work life concerns

A number of factors must be considered in facility location decisions. Recent research on job design suggests that the effects jobs may have on quality of work life and quality of life in general should be considered in facility location decisions in addition to other normal factors. The present study was designed to examine quality of work life and quality of life factors of residents in a low income and low education area. The intent was to determine what types of jobs might have the most positive effect on people in this type of region. Data were collected from 409 households in a low income/education region. The results showed that people from this region were as satisfied with their quality of work life and quality of life as people in other regions with better jobs, higher incomes, and better general life situations. Results are discussed in light of facility location decisions and types of jobs having the most positive impact.     

A review of estimates of the schooling/earnings relationship, with tests for publication bias

In this paper we provide an analytical review of previous estimates of the rate of return on schooling investments and measure how these estimates vary by country, over time, and by estimation method. We find evidence of reporting (or “file drawer”) bias in the estimates and, after due account is taken of this bias, we find that differences due to estimation method are much smaller than is sometimes reported, although some are statistically significant. We also find that estimated returns are higher in the US and they have increased in the last two decades.     

Efficiencies brewed: pricing and consolidation in the US beer industry

Merger efficiencies provide the primary justification for why mergers of competitors may benefit consumers. Surprisingly, there is little evidence that efficiencies can offset incentives to raise prices following mergers. We estimate the effects of increased concentration and efficiencies on pricing by using panel scanner data and geographic variation in how the merger of the brewers Miller and Coors was expected to increase concentration and reduce costs. All else equal, the average predicted increase in concentration led to price increases of 2%, but at the mean this was offset by a nearly equal and opposite efficiency effect.     

ROUNDTABLE DISCUSSION ON IMMIGRATION

This article is based upon presentations at the closing session of the 14th International Conference of the Western Economic Association International (WEAI), hosted by the Newcastle Business School, University of Newcastle, Australia, January 11–14, 2018. The panellists are: Orley Ashenfelter, Daniel L. McFadden, Abigail Payne, Jason Potts, Robert Gregory, and Wade Martin. (JEL J6)     

Empirical analysis of motives underlying individual contributions to charity

Conclusion The direct benefits motive underlying charitable contributions has been extensively used as the dominant assumption in charity literature. Indded, it is theoretically simpler to assume independent rather than interdependent utility functions. This study does not justify exclusive assumption of direct benefits motive in theoretical or empirical analysis. Both indirect benefits and Kantian motives are implied by this study. While a clear cut dominance of one motive is not indicated in these results (and not surprising due to the cross-section, aggregate state data used), there is little or no support for the direct benefits motive. The existence of indirect and Kantian motives are indicated by the data.Future research into charitable behavior should take note of these findings, either to develop methodologies able to unambiguously discuss the motives, or to incorporate and provide more than simple acknowledgement of indirect benefits and Kantian motives.