The cell phone effect on motor vehicle fatality rates: A Bayesian and classical econometric evaluation

This paper examines the potential effect of cell phones on motor vehicle fatality rates normalized for other driving related and socioeconomic factors. The model used is non-linear so as to address both life-taking and life-saving attributes of cell phones. The model is evaluated using classical methods along with Bayesian Extreme Bounds Analysis (EBA). The use of both classical and Bayesian methods diminishes the model and parameter uncertainties which afflict more conventional modeling methods which rely on only one of the two methods. The results indicate the presence of both life-taking and life-saving attributes of cell phones on motor vehicle fatality rates depending on the volume of cell phone subscribers in existence.     

Incentives and public inputs

Considered in this paper is a mechanism to coordinate the decision to provide a public input to a group of firms designed to overcome the ‘free rider’ problem. The coordinating agent relies on information communicated by the firms and it is shown that the mechanism provides an incentive for each firm to send truthful information so that an optimal quantity of the public input will be provided.     

Mean-variance vs. stochastic dominance some empirical findings on efficient sets

The study attempts to shed additional light on the issue of the costs and benefits of using the mean-variance criterion as opposed to stochastic dominance criteria for investment decisions. Relevant probabilities which facilitate measurement of these costs and benefits are identified. The mean-variance criterion is shown to be useful to some extent in identifying potentially optimal portfolios. However, it is shown that the informationally less demanding mean-variance criterion admits two types of errors: (i) including portfolios that no expected utility maximizing risk averters would choose, and (ii) excluding portfolios which some risk averters would find optimal. The empirical investigation also indicates that although the composition of the efficient sets appears to be unstable over time, the relationships between the efficient sets are persistent over time.     

Further evidence of the determinants of industrial research and development using single and simultaneous equation models

This paper provides empirical evidence in favor of the Schumpeterian hypothesis using single equation models. A simultaneous equation model is then developed which examines the interaction of R & D, growth and profitability.     

The cell phone effect on pedestrian fatalities

This paper examines the impact of cell phone usage on pedestrian fatalities in the United States using econometric models and specification error tests. The model makes use of a polynomial specification so as to allow for potential life-saving and life-taking effects of cell phones. The results indicate that when cell phones were first introduced they had an adverse effect on pedestrian safety, but after a critical number of cell phones was reached, the life-saving effect dominated over the life-taking effect. However, as the number of phones continued to increase, the life-taking effect once again dominated over the life-saving effects.