Choice of utility function form: its effect on classification of risk preferences and the prediction of farmer decisions

In applications of expected utility analysis, researchers are confronted with a choice among several utility functional forms. Subjective utility values and probability distributions for price and yield were elicited from Sri Lankan producers of minor export crops. Exponential quadratic and cubic utility functions were estimated. The choice of functional form was found to affect both the classification of risk attitudes and the prediction of harvesting strategy. The exponential function was the best predictor of harvesting strategy because it was the best predictor of mature harvesting. All three functions were equally poor predictors of premature harvesting.     

Food Aid Disincentives: the Tunisian Experience

An econometric model is used to assess the short‐term (impact), interim, and cumulative effects of food aid on the economy of Tunisia for the period 1960–92. Food aid displaced neither domestic production nor commercial imports of food grains. Rather, food aid provided incentives to promote growth through its income and policy effects. Food aid provided increased public revenue that enabled the government to take an active role in domestic pricing, preventing disincentive prices and promoting domestic production. The results indicate a positive role for food aid when disincentive effects are managed through public policies.     

Dynamics and Long-run Structure in U.S. Meat Demand

Empirical analysis, based on a general dynamic Almost Ideal Demand System, shows the commonly used autoregressive and partial adjustment processes are restrictive to meat demand data. This study derives a linear specification in levels form to investigate dynamics in a general framework. Merging a long-run steady state structure with short-run dynamics results in consistent and robust long-run demand elasticities Une analyse empirique, basée sur un systéme dynamique général de demande quasi optimale, montre que les mécanismes courants d'ajustement autorégressif et d'ajustement partiel ont un effect restrictif sur l'évaluation des données de la demande de viande. Les auteurs proposent une spécifcation linéaire par niveaux pour examiner la dynamique du cadre général. La combinaison d'une structure stable de longue durée avec une dynamique de courte période a produit des élasticités cohérentes et solides de la demande à long terme     

The Bias Due to Omitting Income When Estimating Demand Functions

This paper obtains an expression of the bias when relevant explanatory variables are omitted in seemingly unrelated regression (SUR) models. A simple demand system is provided to illustrate the direction of the bias terms when a variable is omitted.
L'article permet d'exprimer le biais qui résulterait de l'omission de variables explicatives pertinentes dans des modéles de régression sans corrélation apparente (SUR). Le système de demande simple qui est présente ici met en évidence le sens des éléments de biais lorsqu'on omet une variable.     

Selection of Nonnested Demand Models

This paper applies the likelihood dominance criterion (LDC), a new method of model selection developed by Pollak and Wales (1991), to four popular demand equation systems, using a set of seasonally adjusted quarterly Canadian data series. the results indicate that the almost ideal demand system (AIDS) dominates various alternative demand systems. the LDC method is useful in assisting demand analysts in selecting the proper demand specification. the paper also includes tests for unit roots and cointegration and, based on these tests, an error corrections model is estimated and tested against the popular but not theoretically plausible linear approximate almost ideal demand system.     

Web 2.0, social capital and work performance in service companies: the employees’ view

Web 2.0 networks have provoked a revolution in the last years due to their capacity to modify human relationships, particularly in business contexts. Social capital, as a crucial intangible asset embedded in Web 2.0 networks, can be extremely helpful to build and optimize personal and organizational power or resources. This exploratory study empirically analyzes the use of Web 2.0 networks for work-related purposes under a new perspective: the perception of Spanish service companies’ employees. Results show a reasonable employee use of Web 2.0 applications with work-related purposes, and identify the main benefits from them and relevant differences in their use.