Article history: Received 7 August 2008 Received in revised form 23 April 2009 Accepted 28 April 2009 Available online 5 May 2009

For decades, economists have used the hedonic model to estimate demands for the implicit characteristics of differentiated commodities. The traditional cross-sectional approach can recover marginal willingness to pay for characteristics, but has faltered over a difficult endogeneity problem for non-marginal welfare measures. I show that when marginal prices can be reliably estimated, and when p...

This paper considers a random coefficients panel data model with individualspecific intercepts (or fixed effects). The identification of the distribution of random slope coefficients is established in two settings: when random slope coefficients are conditionally independent from individual-specific intercepts; and when individual-specific intercepts are allowed to depend on random slope coeffi...

This paper proposes estimators for a class of panel duration models with induced dependent censoring and fixed effects which may appear nonadditively in the model. No parametric assumptions are made about the distribution of the random error. The dependent censoring implies that the usual differencing approach common in fixed-effects models will lead to disproportionate weighting of the errors,...

Event-history studies of recurrent events are often conducted in fields such as demography, epidemiology, medicine, and social sciences (Cook and Lawless, 2007, The Statistical Analysis of Recurrent Events. New York: Springer-Verlag; Zhao et al., 2011, Test 20, 1-42). For such analysis, two types of data have been extensively investigated: recurrent-event data and panel-count data. However, in ...

A nonparametric lack-of-fit test is proposed to check the adequacy of the presumed parametric form for the regression function in Tobit regression models by applying Zheng’s device with weighted residuals. It is shown that testing the null hypothesis for the standard Tobit regression models is equivalent to test a new null hypothesis of the classic regression models. An optimal weight function ...

The thought experiment methodology is a recently developed technique for qualitative reasoning. Thought experiments involve four main steps: (i) simplification of the original problem, (ii) solution of the simplified problem, (iii) conjecture the result of the original problem based on the solution of the simplified version, arid finally (iv) verification that the conjecture is correct. This me...

In this paper, we examine case studies from three different areas of insurance practice: health care, workers’ compensation, and group term life. These different case studies illustrate how the broad class of panel data models can be applied to different functional areas and to data that have different features. Panel data, also known as longitudinal data, models are regression-type models that...

Static fixed effects estimation of life satisfaction often gives rise to serial correlation in the residuals, indicating omitted dynamics. Rather than correcting standard errors, “to make them robust,” this study explores dynamic panel analysis incorporate otherwise dynamics into models. The utilizes System General Method Moments approach analysis. results indicate that overall is largely (thou...

aim : this study compared pr and nb in predicting hcv patient costs. the objective of this study was to predict the direct cost of the hcv patient in iran. background : hepatitis c virus (hcv) is a common and expensive infectious disease in iran. cost associated with hcv and its complications has not been well characterized. analysis of cost data is important in providing consistent information...