This paper examines the cost structure particularly cost elasticities, returns to scale, marginal cost of production, technological progress, demand for factor of production, and factor substitution in publicly owned State Transport Undertakings (STUs) in India. To examine these issues, a translog cost function is estimated jointly with factor share equations subject to required coefficient res...

We test the Becker-Murphy model of rational addiction with New Zealand credit card debt data. Our results clearly favour the rational addiction model over the myopic, backward-looking model. The estimated short-run and long-run price elasticities are-0.58 and-2.32 respectively, and the estimated rate of time-preference is 6.7% per quarter.

The potential for structural change in southern stumpage market models has impacts on not only our basic understanding of those markets, but also on harvest, inventory and price projections, and related policy. In this paper, we test for structural change in both sawtimber and pulpwood softwood stumpage markets in the U.S. South over the period 19501994. Test results strongly reject structural ...

This study examines the substitution effect between fixed-line and mobile telephony while controlling for the consumption externality associated with telephone networks. A dynamic demand model is estimated using a global telecommunications panel dataset comprised of 56 countries from 1995–2000. Estimation results show the presence of a substantial substitution effect. Additionally income and ow...

In this paper we present an empirical analysis of the residential demand for electricity using annual aggregate data at the state level for 48 US states from 1995 to 2007. Earlier literature has examined residential energy consumption at the state level using annual or monthly data, focusing on the variation in price elasticities of demand across states or regions, but has failed to recognize o...