منابع مشابه
Eco-Labeling Strategies and Price-Premium: The Wine Industry Puzzle
Although there is increasing use of eco-labeling, conditions under which eco-labels can command price premiums are not fully understood. In this article, we demonstrate that the certification of environmental practices by a third party should be analyzed as a strategy distinct from—although related to—the disclosure of the eco-certification through a label posted on the product. By assessing ec...
متن کاملEco-Labeling Strategies: The Eco-Premium Puzzle in the Wine Industry
Eco-labeling signals that a product has been eco-certified. While there is increasing use of eco-labeling practices, there is still little understanding of the conditions under which eco-labels can command price premiums. In this paper, we argue that the certification of environmental practices by a third party should be analyzed as a strategy distinct from although related to the advertisement...
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Recent tests of stochastic dominance of several orders proposed by Linton, Maasoumi and Whang (2003) are applied to reexamine the equity premium puzzle. An advantage of this nonparametric framework is that it provides a means to assess whether the existence of a premium is due to particular cardinal choices of either the utility function or the underlying returns distribution, or both. The appr...
متن کاملThe Wage Premium: A Puzzle
In this paper, I present evidence that the premium for a college education is essentially uncorrelated with the business cycle and that the average hours worked by college graduates are less volatile than those worked by nongraduates. Business cycle theory is then shown to be inconsistent with these observations when endogenous utilization and skill acquisition are incorporated. Abstracting fro...
متن کاملThe Equity Premium a Puzzle*
Restrictions that a class of general equilibrium models place upon the average returns of equity and Treasury bills are found to be strongly violated by the U.S. data in the 1889-1978 period. This result is robust to model specification and measurement problems. We conclude that, most likely, an equilibrium model which is not an Arrow-Debreu economy will be the one that Simultaneously rationali...
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ژورنال
عنوان ژورنال: CFA Digest
سال: 2005
ISSN: 0046-9777,1938-3320
DOI: 10.2469/dig.v35.n3.1729