This paper is a reply to Barry Ickes' critique of my paper “Trust versus Illusion: What is Driving Demonetization in Russia?” in which I show that the data reject Barry Ickes' Virtual Economy explanation of barter in Russia in favor of an institutional explanation based on the lack of trust. JEL Classification: D20, G30, O10, P30

We prove the existence of a private value allocation for an economy with differential information where the commodity space may be infinite dimensional, and there is a continuum of states. We also discuss the existence, non-existence, and properties of two alternative value allocation concepts. JEL classification: D8; D82; C7; C71; C72

The objective of this paper is to analyze the Spanish demand for meat taking into account the consumer’s concern about the relationship between food diet and health. This concern is forcing food demand analysts to assume that consumer utility is a function of nutrients instead of simply the food products themselves. Nevertheless, these utility function arguments are not produced in the marketpl...

This paper estimates the demand for nature based tourist visits to Zambia and the willingness of international tourists to pay to visit Zambia using a single site individual travel cost model. The model estimated is corrected for both truncation of the dependent variable and endogenous stratification that arises due to on-site sampling. We find a negative binomial specification provides stable ...

Observed choices in Social Dilemma Games usually take the form of bounded integers. We propose a doubly-truncated count data framework to process such data. We compare this framework to past approaches based on ordered outcomes and truncated continuous densities using Bayesian estimation and model selection techniques. We find that all three frameworks (i) support the presence of unobserved het...

Treatment Evaluation with Multiple Outcome Periods under Endogeneity and Attrition This paper develops a nonparametric methodology for treatment evaluation with multiple outcome periods under treatment endogeneity and missing outcomes. We use instrumental variables, pre-treatment characteristics, and short-term (or intermediate) outcomes to identify the average treatment effect on the outcomes ...

Tax Evasion and Social Interactions The paper extends the standard tax evasion model by allowing for social interactions. In Manski’s (1993) nomenclature, our model takes into account social conformity effects (i.e., endogenous interactions), fairness effects (i.e., exogenous interactions) and sorting effects (i.e., correlated effects). Our model is tested using experimental data. Participants ...

A stochastic frontier production function is defined for panel data on firms, in which the non-negative technical inetGciency effects are assumed to be a function of firm-specific variables and time. The inefficiency effects are assumed to be independently distributed as truncations of normal distributions with constant variance, but with means which are a linear function of observable variable...

This paper uses Chinese urban data to investigate two important issues regarding city size distribution: the nature in which cities of different size grow relative to each other, and which distribution is the best approximation of city size distribution. First, we examine how cities of different sizes grow relative to each other. While most empirical literatures suggest that relative size and r...

o ne of the effective strategies for economic development of clusters is the conduct of networking activities by cluster members. indeed, the majority of cluster members are micro and small enterprises, so, should attempt to overcome their inherent constraints and influence the market through networking activities. in addition, these enterprises lack an intra-firm research and development unit ...