In this article we develop alternative ways to compare asset pricing models when it is understood that their implied stochastic discount factors do not price all portfolios correctly. Unlike comparisons based on x2 statistics associated with null hypotheses that models are correct, our measures of model performance do not reward variability of discount factor proxies. One of our measures is des...

We present a survey design that generalizes static conjoint experiments to elicit inter-temporal adoption decisions for durable goods. We show that consumers’ utility and discount functions in a dynamic discrete choice model are jointly identified using data generated by this specific design. In contrast, based on revealed preference data, the utility and discount functions are generally not jo...

The e↵ectiveness of monetary promotions has been well reported in the literature to a↵ect shopping decisions for products in real life experience [3]. Nowadays, e-commerce retailers are facing more fierce competition on price promotion in that consumers can easily use a search engine to find another merchant selling an identical product for comparing price. We study e-commerce data — shopping r...

INTRODUCTION Inflammatory autoimmune diseases (rheumatoid arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis, psoriasis, and psoriatic arthritis) have a considerable impact on patients' quality of life and healthcare budgets. Biosimilar infliximab (Remsima(®)) has been authorized by the European Medicines Agency for the management of inflammatory autoimmune diseases based on...

Suppose that consumers incur fixed shopping costs and choose stores according to advertised discounts. Then, the extent to which a store will discount advertised items should increase with the profit from other regularly-priced items. Bookstores customarily advertise discounts on bestsellers. Among conventional bookstores, we found that the bestseller discount systematically increased with the ...

The ordering model between single supplier and multi-retailers under the circumstance of non-cooperation supply chain is discussed in this paper, an improved linear price discount strategy is also provided. This strategy considers two situations of incremental discount and decremental discount at the same time. Moreover, Stackelberg game model of both parties’ order on supply and demand is give...

Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per capita in the distant future is zero (assuming that humans do not die out). Substituting in the Rams...

The perishable product’s dynamic pricing with quantity discount strategy is studied. The seller uses two-period dynamic price during the whole sale period and introduces quantity discount in second sale period in order to improve the seller’s profit. The mathematic model expressions are obtained by assuming that consumer’s reservation price draws from a uniform distribution and the price discou...

Heterogeneity in the Production of Human Capital We derive a tractable nonlinear earnings function which we estimate separately for each individual in the NLSY79 data. These estimates yield five important parameters for each individual: three ability measures (two representing the ability to learn and one the ability to earn), a rate of skill depreciation, and a time discount rate. In addition,...