Optical scanning of the Universal Product Code in supermarkets provides a new level of detail and completeness in household panel data and makes possible the construction of more comprehensive brand choice models than hitherto possible. A multinomial logit model calibrated on 32 weeks of purchases of regular ground coffee by 100 households shows high statistical significance for the explanatory...

This study examines the impact of oil price volatility on macroeconomic variables of the economy of Pakistan. We employed the Glosten, Jagannathan and Runkle (GJR) and Vector Autoregressive (VAR) models. The outcomes of the GJR model show the symmetric effect of oil price shock on conditional variance. Whereas Impulse Response Functions (IRFs) show the hostile effect on the employment and the o...

This paper addresses the issue of price negotiation between a municipality and a private water utility operator, and its implications for residential water demand estimation. Because negotiated price may depend on municipality’s specific characteristics, competing forms of price endogeneity have to be considered when using panel data. The impact of variables such as average income, housing and ...

The paper examines automobile price differences in the Single Market for the 1993-98 period. The absolute law of one price is strongly rejected, but there is some convergence to its relative version. Two sets of explanations are considered: (i) price-setting in segmented markets and (ii) arbitrage barriers. The role of price-setting variables is seriously overestimated when arbitrage factors ar...

This paper examines the competitiveness of winner-take-all price competition in homogeneous product oligopoly environments where underlying buyer demands and/or firms’ costs need not be continuous. Our analysis is motivated by the observation that a variety of economic settings have these features. For example, in 1996 an Ivy League university solicited bids from several vendors for its initiat...

The dynamic and complex relationship among economic variables has attracted the researchers, policy makers and business people alike. This study is an attempt to test the dynamic relationship among gold price, stock returns, exchange rate and oil price. All these variables have witnessed significant changes over time and hence, it is absolutely necessary to validate the relationship periodicall...

BACKGROUND Vaccination programs often organize subsidies and public relations in order to obtain high uptake rates and coverage. However, effects of subsidies and public relations have not been studied well in the literature. In this study, the demand function of pneumococcal vaccination among the elderly in Japan is estimated, incorporating effects of public relations and subsidy. METHODS Us...

Land use in a city has a unique structure, mostly due to the interactions between its spatial configuration and functions, developing into a patchwork of functional regions of various forms. Land price can be seen as one of the indices reflecting these advancements in spatial structure and land use. Through an analysis of the influences of spatial configuration and land use on the formation of ...