To explore the distinction between state dependence and heterogeneity in repeated decisions, this paper combines a Mixed Logit model with a state dependence parameterization from the marketing literature to study fishing location choices of commercial sea urchin divers in California. It examines implications of ignoring either effect and finds in all cases that true state dependence is an impor...

Building upon the works of Anscombe and Amuann [Ann. Math. Stat. 34 (1963) 199] and Karni and Schmeidler [An expected utility theory for state-dependent preferences. Working Paper 48-80, Foerder Institute for Economic Research, Tel Aviv University], we develop a general axiomatic theory of quantifiable beliefs—a form of probabilistic sophistication that does not preclude state-dependent prefere...

I estimate the influence of political parties on state Tax Burdens over a 40-year period (1960– 2000). Holding constant a large number of state and voter characteristic variables, I find that: (i) Tax Burdens are higher when Democrats control the state legislature compared to when Republicans are in control. (ii) The political party of the governor has little effect after controlling for partis...

We describe the complete factorization of the tenth and eleventh Fermat numbers. The tenth Fermat number is a product of four prime factors with 8, 10, 40 and 252 decimal digits. The eleventh Fermat number is a product of five prime factors with 6, 6, 21, 22 and 564 decimal digits. We also note a new 27-decimal digit factor of the thirteenth Fermat number. This number has four known prime facto...

Can one define and test the hypothesis of (un)bounded rationality in stochastic choice tasks without endorsing Bayesianism? Similar to the state specificity of assets, we rely on state-specific goal formation. In a given choice task, the list of state-specific goal levels is optimal if one cannot increase the goal level for one state without having to decrease that for other states. We show tha...

‘‘New Tigers” (including city commercial banks) outperform state-owned commercial banks burdened with non-performing loans from unprofitable state-owned enterprises. We study whether this is solely due to superior corporate governance (multiple shareholders versus total government ownership) or also to the favorable environment (the New Tigers target affluent China, while state-owned commercial...

Heterogeneity, State Dependence and Health We investigate the evolution of health over the life-cycle. We allow for two sources of persistence: unobserved heterogeneity and state dependence. Estimation indicates that there is a large degree of heterogeneity. For half the population, there are modest degrees of state dependence. For the other half of the population, the degree of state dependenc...

abstract the aim of this study is of the effect of structural changes in higher education on changes of output in sistan and baluchestan province using structural decomposition analysis (sda). the input-output tables of this region for the period 2006-2011 have been employed as the database of the model. the structural changes were decomposed into two factors: changes in share of specific secto...