Academic literature on the topic 'Substitution (Economics) Econometric models'

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Journal articles on the topic "Substitution (Economics) Econometric models"

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Banerjee, Swagata “Ban”, Irfan Y. Tareen, Lewell F. Gunter, Jimmy Bramblett, and Michael E. Wetzstein. "Forecasting Irrigation Water Demand: A Case Study on the Flint River Basin in Georgia." Journal of Agricultural and Applied Economics 39, no. 3 (December 2007): 641–55. http://dx.doi.org/10.1017/s1074070800023324.

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Southeast drought conditions have accentuated the demand for irrigation in the face of restricted water supply. For allocating this supply, Georgia held an auction for withdrawing irrigated acreage. This auction withdrew 33,000 acres from irrigation, resulting in a physical estimate of a 399 acre-feet daily increase in water flow. The actual reduction is driven by crop distributional changes on the basis of economic substitution and expansion effects. In contrast to the physical estimates, an econometric model that considers these effects is developed. The differences between the physical and econometric models result in an increase in the estimate of water savings of around 19% to 24%.
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Oberfield, Ezra, and Devesh Raval. "Micro Data and Macro Technology." Econometrica 89, no. 2 (2021): 703–32. http://dx.doi.org/10.3982/ecta12807.

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We develop a framework to estimate the aggregate capital‐labor elasticity of substitution by aggregating the actions of individual plants. The aggregate elasticity reflects substitution within plants and reallocation across plants; the extent of heterogeneity in capital intensities determines their relative importance. We use micro data on the cross‐section of plants to build up to the aggregate elasticity at a point in time. Interpreting our econometric estimates through the lens of several different models, we find that the aggregate elasticity for the U.S. manufacturing sector is in the range of 0.5–0.7, and has declined slightly since 1970. We use our estimates to measure the bias of technical change and assess the decline in labor's share of income in the U.S. manufacturing sector. Mechanisms that rely on changes in the relative supply of factors, such as an acceleration of capital accumulation, cannot account for the decline.
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Kozinova, A. T. "An econometric analysis of retail turnover in Russia." Economic Analysis: Theory and Practice 19, no. 6 (June 29, 2020): 1133–53. http://dx.doi.org/10.24891/ea.19.6.1133.

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Subject. The article deals with econometric analysis of retail turnover in Russia and its relationship with macroeconomic indicators, like real disposable household income, consumer prices, etc. Objectives. The purpose is to create effective models to analyze the retail turnover in Russia and its relationship with other macroeconomic indicators, taking into account the existence of periods of economic instability. Methods. I apply correlation and regression methods to analyze statistics. To quantify changes in the retail turnover of Russia during the periods of economic instability, I use dummy variables. Results. The Russia’s retail trade turnover index had a reverse and moderate relationship with the consumer price index, direct and strong relationship with the indices of real disposable household income and imports, direct relationship with the manufacturing index. I offer statistically significant regression models of Russia’s retail turnover with the said macroeconomic indicators. Conclusions. The main advantage of models of retail turnover that are built using a large number of observations is a greater number of simultaneously considered factors. The quantitative assessment of retail turnover elasticity by consumer prices confirms the need for inflation targeting by the Central Bank of the Russian Federation. The higher elasticity of retail turnover in manufacturing as compared with the imports denotes the importance of import substitution policy.
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Rupert, Peter, Richard Rogerson, and Randall Wright. "Estimating substitution elasticities in household production models." Economic Theory 6, no. 1 (February 1995): 179–93. http://dx.doi.org/10.1007/bf01213946.

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Anderson, Richard K., and John R. Moroney. "Substitution and Complementarity in C. E. S. Models." Southern Economic Journal 60, no. 4 (April 1994): 886. http://dx.doi.org/10.2307/1060427.

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Banerjee, Swagata “Ban”, and Babatunde A. Obembe. "Econometric Forecasting of Irrigation Water Demand Conserves a Valuable Natural Resource." Journal of Agricultural and Applied Economics 45, no. 3 (August 2013): 557–68. http://dx.doi.org/10.1017/s107407080000506x.

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Natural causes (such as droughts), non-natural causes (such as competing uses), and government policies limit the supply of water for agriculture in general and irrigating crops in particular. Under such reduced water supply scenarios, existing physical models reduce irrigation proportionally among crops in the farmer's portfolio, disregarding temporal changes in economic and/or institutional conditions. Hence, changes in crop mix resulting from expectations about risks and returns are ignored. A method is developed that considers those changes and accounts for economic substitution and expansion effects. Forecasting studies based on this method with surface water in Georgia and Alabama demonstrate the relative strength of econometric modeling vis-à-vis physical methods. Results from a study using this method for ground water in Mississippi verify the robustness of those findings. Results from policy-induced simulation scenarios indicate water savings of 12% to 27% using the innovative method developed. Although better irrigation water demand forecasting in crop production was the key objective of this pilot project, conservation of a valuable natural resource (water) has turned out to be a key consequence.
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Castillo-Manzano, José I., Lourdes López-Valpuesta, Fernando Gonzalez-Laxe, and Diego J. Pedregal. "An econometric analysis of the Spanish fresh fish market." ICES Journal of Marine Science 71, no. 3 (November 14, 2013): 628–35. http://dx.doi.org/10.1093/icesjms/fst186.

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Abstract This article seeks to analyse the factors that determine the dynamics of the balance between supply and demand in the Spanish fresh fish market. For this, the time-series of fresh fish landed in the 1973–2009 period is analysed through an estimation of the series of transfer function models. Among other things, the findings in the Spanish case show a complex relationship between the amount of fish landed and price; a clear substitution relationship between fresh fish and aquaculture; a negative impact of labour costs in a manual labour-intensive sector such as fishing, which in developed countries is being affected by an exodus of manpower to other sectors where there is less uncertainty surrounding labour conditions; the impact of Spain being barred from international fishing grounds a result of the delimitation of exclusive economic zones (EEZs); and the dwindling importance of fisheries traffic as a result of the port devolution process begun in Spain in the early 1990s. The non-significance of a priori key factors, such as the price of oil and Spain's entry into the EEC, can be explained by widespread energy subsidies and contradictions in the objectives of the Common Fisheries Policy, respectively.
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Karney, Daniel H. "General equilibrium models with Morishima elasticities of substitution in production." Economic Modelling 53 (February 2016): 266–77. http://dx.doi.org/10.1016/j.econmod.2015.12.003.

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Castro, Luciano, and Antonio F. Galvao. "Dynamic Quantile Models of Rational Behavior." Econometrica 87, no. 6 (2019): 1893–939. http://dx.doi.org/10.3982/ecta15146.

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This paper develops a dynamic model of rational behavior under uncertainty, in which the agent maximizes the stream of future τ‐quantile utilities, for τ ∈ (0,1). That is, the agent has a quantile utility preference instead of the standard expected utility. Quantile preferences have useful advantages, including the ability to capture heterogeneity and allowing the separation between risk aversion and elasticity of intertemporal substitution. Although quantiles do not share some of the helpful properties of expectations, such as linearity and the law of iterated expectations, we are able to establish all the standard results in dynamic models. Namely, we show that the quantile preferences are dynamically consistent, the corresponding dynamic problem yields a value function, via a fixed point argument, this value function is concave and differentiable, and the principle of optimality holds. Additionally, we derive the corresponding Euler equation, which is well suited for using well‐known quantile regression methods for estimating and testing the economic model. In this way, the parameters of the model can be interpreted as structural objects. Therefore, the proposed methods provide microeconomic foundations for quantile regression methods. To illustrate the developments, we construct an intertemporal consumption model and estimate the discount factor and elasticity of intertemporal substitution parameters across the quantiles. The results provide evidence of heterogeneity in these parameters.
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Hoke, Donald. "British and American Horology: Time to Test Factor-Substitution Models." Journal of Economic History 47, no. 2 (June 1987): 321–27. http://dx.doi.org/10.1017/s0022050700048087.

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This article examines the productivity of American watch manufacturing technology between 1850 and 1900 as representative of the industries collectively known as the American System of Manufactures. It then compares and contrasts products and responses to market events in British and American horology in the nineteenth century. Finally it weighs factor-substitution models which purport to explain the sharply different British and American responses to mechanization, specifically why the American System of Manufactures is indeed American.
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Dissertations / Theses on the topic "Substitution (Economics) Econometric models"

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Adam, Christopher S. "The demand for money, asset substitution and the inflation tax in a liberalizing economy : an econometric analysis for Kenya." Thesis, University of Oxford, 1992. http://ora.ox.ac.uk/objects/uuid:037dcc1e-edff-4096-89cb-6d24a70742d8.

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This thesis develops empirical econometric models of the private sector aggregate demand for real and financial assets in Kenya over the period 1973 to 1990. Single-equation error-correction models of the demand for money are estimated using systems cointegration methods developed by Johansen (1988). The models are found to be statistically stable functions throughout the period, and are capable of encompassing existing studies. Across a range of monetary aggregates, including a Divisia index aggregate for broad money, the models describe demand for money functions in which inflation and illegal foreign currency substitution are significant determinants of money holdings, and where the private sector adjusts rapidly to deviations from its stable longrun equilibrium real money demand. The demand for money is then integrated within a neo-classical model of asset demands, which examines the behaviour of the aggregate private sector asset portfolio in response to changes in relative prices between assets and to external shocks to the economy, principally the 1976-77 coffee boom. A variant of the Almost Ideal Demand System model developed by Deaton and Muellbauer (1980) is estimated for a class of six assets: base money, banking system deposits, government securities, tradable capital, nontradable capital and inventories. The asset substitution model, which also takes an errorcorrection form, and which allows for credit rationing, generates results which are consistent with the earlier demand for money models, where private agents are also denied access to foreign-denominated assets. Using this model, the maintenance of policies of financial repression are shown to cause the private sector to offset inflationary shocks through the accumulation of real assets, principally in the form of non-tradable capital in the construction and property sectors. The evidence from the two models is used to analyze the fiscal effects of the inflation tax and financial repression measures. Policies of financial liberalization are shown to reduce the revenue maximizing rate of inflation (estimated to be 14% per annum) and the implicit tax on domestic holders of government liabilities. This dampens asset substitution in response to inflationary shocks and offsets the adverse effects of "construction-boom" investment on non-tradable capital prices.
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McGarry, Joanne S. "Seasonality in continuous time econometric models." Thesis, University of Essex, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.313064.

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Mavroeidis, Sophocles. "Econometric issues in forward-looking monetary models." Thesis, University of Oxford, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.273303.

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Recently, single equation approaches for estimating structural models have become popular in the monetary economics literature. In particular, single-equation Generalized Method Moments estimators have been used for estimating forward-looking models with rational expectations. Two important examples are found in Clarida, Gali, and Gertler (1998) for the estimation of forward- looking Taylor rules and in Gali and Gertler (1999) for the estimation of a forward-looking model for inflation dynamics. In this thesis, we address the issues of identification which have been overlooked due to the incompleteness of the single-equation formulations. We provide extensions to existing results on the properties of GMM estimators and inference under weak identification, pertaining to situations in which only functions of the parameters of interest are identified, and structural residuals exhibit negative autocorrelation. We also characterize the power of the Hansen test to detect mis specification, and address the issues arising from using too many irrelevant instruments as well as from general corrections for residual autocorrelation, beyond what is implied by the maintained model. In general, we show that the non-modelled variables cannot be weakly exogenous for the parameters of interest, and that they are informative about the identification and mis-specification of the model. Modelling the reduced form helps identify pathological situations in which the structural parameters are weakly identified and the GMM estimators are inconsistent and biased in the direction of OLS.We also ¯nd the OLS bias to be increasing in the number of over-identifying instruments, even when the latter are irrelevant, thus demonstrating the dangers of using too many potentially irrelevant instruments. Finally, with regards to the "New Phillips curve", we conclude that, for the US economy, this model is either un-identified or mis-specified, casting doubts on its utility as a model of in°ation dynamics.
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Kapetanios, George. "Essays on the econometric analysis of threshold models." Thesis, University of Cambridge, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.286704.

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Hall, Stephen George Frederick. "Solving and evaluating large non-linear econometric models." Thesis, Queen Mary, University of London, 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.261290.

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Lu, Maozu. "The encompassing principle and evaluation of econometric models." Thesis, University of Southampton, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.316084.

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Sherrell, Neill. "The estimation and specification of spatial econometric models." Thesis, University of Bristol, 1990. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.281861.

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Wongwachara, Warapong. "Essays on econometric errors in quantitative financial economics." Thesis, University of Cambridge, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.609240.

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Norets, Andriy. "Bayesian inference in dynamic discrete choice models." Diss., University of Iowa, 2007. http://ir.uiowa.edu/etd/148.

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Wang, Wei. "Three Essays on Spatial Econometric Models with Missing Data." The Ohio State University, 2010. http://rave.ohiolink.edu/etdc/view?acc_num=osu1275414562.

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Books on the topic "Substitution (Economics) Econometric models"

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Arrau, Patricio. Intertemporal substitution, risk aversion, and private savings in Mexico. Washington, DC (1818 H St. NW, Washington 20433): International Economics Dept., the World Bank, 1991.

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Collins, William J. Were trade and factor mobility substitutes in history? Cambridge, MA: National Bureau of Economic Research, 1997.

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Collins, W. J. Were trade and factor mobility substitutes in history? Dublin: University College Dublin, Department of Economics, Centre for Economic Research, 1997.

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Hall, Robert Ernest. Substitution over time in work and consumption. Cambridge, MA: National Bureau of Economic Research, 1988.

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Mulligan, Casey B. Substitution over time: Another look at life cycle labor supply. Cambridge, MA: National Bureau of Economic Research, 1998.

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Blonigen, Bruce A. In search of substitution between foreign production and exports. Cambridge, MA: National Bureau of Economic Research, 1999.

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Giovannini, Alberto. Risk aversion and intertemporal substitution in the capital asset pricing model. Cambridge, MA: National Bureau of Economic Research, 1989.

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Arrau, Patricio. Intertemporal substitution in a monetary framework: Evidence from Chile and Mexico. Washington, DC (1818 H Street, NW, Washington 20433): International Economics Dept., the World Bank, 1990.

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Auerbach, Alan J. The significance of federal taxes as automatic stabilizers. Cambridge, MA: National Bureau of Economic Research, 2000.

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Elkhafif, Mahmoud A. T. Exchange rate policy and currency substitution: The case of Africa's emerging economies. Abidjan, Côte d'Ivoire: African Development Bank, 2002.

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Book chapters on the topic "Substitution (Economics) Econometric models"

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Boyer, Marcel, Georges Dionne, and Charles Vanasse. "Econometric Models of Accident Distributions." In Contributions to Insurance Economics, 169–213. Dordrecht: Springer Netherlands, 1992. http://dx.doi.org/10.1007/978-94-017-1168-5_6.

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Muradov, Adalat, Yadulla Hasanli, and Nazim Hajiyev. "Creating Econometric Models: Evaluation and Analysis." In SpringerBriefs in Economics, 21–40. Cham: Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-11494-7_2.

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Kokot, Stefan. "Econometric Analysis of Sequential Trade Models." In Lecture Notes in Economics and Mathematical Systems, 61–92. Berlin, Heidelberg: Springer Berlin Heidelberg, 2004. http://dx.doi.org/10.1007/978-3-642-17115-4_4.

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Lomba, Jaime Terceiro. "Formulation of Econometric Models in State-Space." In Lecture Notes in Economics and Mathematical Systems, 5–16. Berlin, Heidelberg: Springer Berlin Heidelberg, 1990. http://dx.doi.org/10.1007/978-3-642-48810-8_2.

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Lomba, Jaime Terceiro. "Formulation of Econometric Models with Measurement Errors." In Lecture Notes in Economics and Mathematical Systems, 17–23. Berlin, Heidelberg: Springer Berlin Heidelberg, 1990. http://dx.doi.org/10.1007/978-3-642-48810-8_3.

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Lomba, Jaime Terceiro. "Estimation of Econometric Models with Measurement Errors." In Lecture Notes in Economics and Mathematical Systems, 24–48. Berlin, Heidelberg: Springer Berlin Heidelberg, 1990. http://dx.doi.org/10.1007/978-3-642-48810-8_4.

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Faust, Jon, and Ralph Tryon. "Block Distributed Methods for Solving Multi-Country Econometric Models." In Advances in Computational Economics, 229–42. Dordrecht: Springer Netherlands, 1996. http://dx.doi.org/10.1007/978-94-015-8743-3_12.

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Barabás, György. "Implementing No-Derivative Optimizing Procedures for Optimization of Econometric Models." In Computational Economics and Econometrics, 121–35. Dordrecht: Springer Netherlands, 1992. http://dx.doi.org/10.1007/978-94-011-3162-9_8.

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Postiglione, Paolo. "Spatial Panel Regression Models in Agriculture." In Spatial Econometric Methods in Agricultural Economics Using R, 254–73. Boca Raton: CRC Press, 2021. http://dx.doi.org/10.1201/9780429155628-13.

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Kim, Soon-Gwan, and Fred L. Mannering. "Panel Data and Activity Duration Models: Econometric Alternatives and Applications." In Transportation Research, Economics and Policy, 349–73. Boston, MA: Springer US, 1997. http://dx.doi.org/10.1007/978-1-4757-2642-8_14.

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Conference papers on the topic "Substitution (Economics) Econometric models"

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Reiter, Doris F., and Michael J. Economides. "Prediction of Short-term Natural Gas Prices Using Econometric and Neural Network Models." In SPE Hydrocarbon Economics and Evaluation Symposium. Society of Petroleum Engineers, 1999. http://dx.doi.org/10.2118/52960-ms.

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Цвиль, Мария, Mariya Tsvil, Алла Поливанова, Alla Polivanova, Ксения Полянина, and Ksenia Polyanina. "ECONOMETRIC ANALYSIS OF VOLUMES OF IMPORT OF THE REPUBLIC OF BELARUS." In Mathematics in Economics. AUS PUBLISHERS, 2018. http://dx.doi.org/10.26526/conferencearticle_5c24b1d11059b9.08659238.

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The article obtained econometric models of time series in terms of imports of the Republic of Belarus according to quarterly data in the period from 2013 to 2018. Exponential smoothing model and multiplicative model are constructed. Also, a forecast was made of import volumes in terms of value for the 4th quarter of 2018.
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Frischknecht, Bart, Katie Whitefoot, and Panos Papalambros. "Methods for Evaluating Suitability of Econometric Demand Models in Design for Market Systems." In ASME 2009 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. ASMEDC, 2009. http://dx.doi.org/10.1115/detc2009-87165.

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This paper articulates some of the challenges for what has been an implicit goal of design for market systems research: To predict demand for differentiated products so that counterfactual experiments can be performed based on changes to the product design (i.e., attributes). We present a set of methods for examining econometric models of consumer demand for their suitability in product design studies. We use these methods to test the hypothesis that automotive demand models that allow for nonlinear horizontal differentiation perform better than the conventional functional forms, which emphasize vertical differentiation. We estimate these two forms of consumer demand in the new vehicle automotive market, and find that using an ideal-point model of size preference rather than a monotonic model has model fit but different attribute substitution patterns. The generality of the evaluation methods and the range of demand model issues to be explored in future research are highlighted.
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Adámek, Pavel, and Lucie Meixnerová. "Changes and Adaptations of Business Models Caused by the Crisis Scenario." In Seventh International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2021. http://dx.doi.org/10.31410/limen.s.p.2021.9.

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Due to the fast-changing environment caused by the impact of the pandemic, a response to companies’ behavior is inevitable. These pan­demic crisis scenario triggers searching for changes, adjustment, and adap­tation of business models to seek new opportunities for competitive advan­tage. Therefore, the paper aims to analyze, identify and evaluate the impact of a pandemic on a firm´s business model, specifically to changes in its busi­ness elements. The research methodology applies a statistical apparatus mainly the Mann-Whitney U test, using the econometric software EViews for identifying the significance of individual business model elements within national economy sectors and branches before the pandemic and the cur­rent post-pandemic crisis. Data were obtained from 173 Czech and Slovak companies’ owners (executives). The findings represent the perception and view of businesses on the current post-pandemic crisis and their priorities changes in specific elements of business model
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Wang, Wei, Xin-he Zhang, and Gang Sun. "Research on Business Models Innovation Path for Electrical Power Substitution under “Three Types and Two Networks”." In Proceedings of the 2019 3rd International Conference on Education, Economics and Management Research (ICEEMR 2019). Paris, France: Atlantis Press, 2019. http://dx.doi.org/10.2991/assehr.k.191221.035.

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FREIMANIS, Kristaps, and Maija ŠENFELDE. "METHODOLOGY FOR THE ASSESSMENT OF REGULATION COSTS IN THE BANKING MARKET." In International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering". Vilnius Gediminas Technical University, 2021. http://dx.doi.org/10.3846/cibmee.2021.600.

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Purpose – In the field of the economics’ regulation researchers so far have built the conceptual framework showing how the deadweight loss of market failures decrease and costs of the government intervention increase with the increased level of the government intervention. In order to quantify relationships between the level of intervention, intervention costs and the deadweight loss with econometric models it is important to understand how to quantify the regulation costs as a part of intervention costs. The objective of the research presented in this paper is to find the appropriate methodology for the quantification of the regulation costs in the banking market. Research methodology – literature review (regarding theories), mathematical methods for quantification and econometric methods for validation purposes. Findings – research shows that in the assessment of regulation costs three main stakeholders should be included – microprudential regulator, macroprudential regulator and financial regulation’s policy maker. Research presents their cost assessment methodology. Its validation shows that in general methodology works as expected, i.e., higher government intervention levels lead to higher regulation costs, however this general rule has exceptions, which in authors’ view indicates that other factors have an impact on the cost levels. Research limitations – research shows how to assess the costs of main stakeholders based on the publicly available information. More precise view could be obtained if in the cooperation with authorities more details on certain cost items are received. Practical implications – research results will be used to assess all government intervention costs (other positions include compliance costs and other indirect costs) and finalize the quantification of the framework. Quantified framework could be used for more precise policy making regarding the regulation of the banking market. Originality/Value – research shows how to quantify the regulation costs of the banking market as currently there are only conceptual ideas.
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Dehon, Catherine, Philippe Emplit, and Emma Van Lierde. "A case study of learning analytics within a statistics course for undergraduate students in economics." In Decision Making Based on Data. International Association for Statistical Education, 2019. http://dx.doi.org/10.52041/srap.19407.

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Higher education institutions globally face a continuous expansion of their enrolment in which learner success constitutes a major challenge. Therefore, there is growing interest in the analysis of data linked to student learning engagement. Indeed, large amounts of learning-related student data are currently not being fully exploited, while their aggregation and quantitative analysis would definitely be elements valuable to support teachers and students, to optimize students’ learning experience. In this global context, we have applied, in a public university without any academic filter for enrolment, such analysis to virtually tutor first-year undergraduate students in a statistics course. By supporting them in the form of voluntary online self-assessing tests, we examined what were the personal profiles of the students who were using available tests and how they exploited this help. Finally, using econometric models we tried to determine if there was a link between student success and the use of this help.
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Freimanis, Kristaps, and Maija Šenfelde. "Approach of scaling the level of government intervention in the financial market." In 11th International Scientific Conference „Business and Management 2020“. VGTU Technika, 2020. http://dx.doi.org/10.3846/bm.2020.591.

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In the field of the economics’ regulation researchers so far have built the conceptual framework showing how the deadweight loss of market failures decrease and costs of the government intervention in-crease with the increased level of the government intervention. In order to quantify relationships between the level of intervention, intervention costs and the deadweight loss with econometric models it is im-portant to understand how to apply coordinates for the data points to be included in the modelling. The main goal of the research presented in this paper is to find the unit measure for the asis of the independentvariable, i.e. to shape the categorical scale corresponding to the level of intervention.
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Tomić, Srđan, and Luka Latinović. "Leasing of Production Control Processes – PLC as a Service in Industry 4.0." In Seventh International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research. Association of Economists and Managers of the Balkans, Belgrade, Serbia, 2021. http://dx.doi.org/10.31410/limen.2021.263.

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Programmable Logic Controllers (PLCs) represent a settled technol­ogy that is well established and ubiquitous within the automation of indus­trial processes. This technology is a significant automation foundation, and PLCs are expected to be needed in the future, even in the era of Industry 4.0. However, these controllers have to satisfy a variety of requirements in new era production paradigms. This manuscript gives a brief overview of the current state of the practice, explaining the main reasons for the persistence of PLC technology, while further examining the possibility of the shift towards the direction of their replacement by a cloud service. Thereby, the introduction of the service paradigm could also play an important role in future industrial automation. This paper discusses such a concept of production control as a service substitution of the traditional PLCs. Its application would significantly increase flexibility by fulfilling industry 4.0 requirements such as autonomy, interchangeability and reconfigurability, and would allow the creation of new business models that would lease production control processes.
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Reports on the topic "Substitution (Economics) Econometric models"

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Hlushak, Oksana M., Svetlana O. Semenyaka, Volodymyr V. Proshkin, Stanislav V. Sapozhnykov, and Oksana S. Lytvyn. The usage of digital technologies in the university training of future bachelors (having been based on the data of mathematical subjects). [б. в.], July 2020. http://dx.doi.org/10.31812/123456789/3860.

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Abstract:
This article demonstrates that mathematics in the system of higher education has outgrown the status of the general education subject and should become an integral part of the professional training of future bachelors, including economists, on the basis of intersubject connection with special subjects. Such aspects as the importance of improving the scientific and methodological support of mathematical training of students by means of digital technologies are revealed. It is specified that in order to implement the task of qualified training of students learning econometrics and economic and mathematical modeling, it is necessary to use digital technologies in two directions: for the organization of electronic educational space and in the process of solving applied problems at the junction of the branches of economics and mathematics. The advantages of using e-learning courses in the educational process are presented (such as providing individualization of the educational process in accordance with the needs, characteristics and capabilities of students; improving the quality and efficiency of the educational process; ensuring systematic monitoring of the educational quality). The unified structures of “Econometrics”, “Economic and mathematical modeling” based on the Moodle platform are the following ones. The article presents the results of the pedagogical experiment on the attitude of students to the use of e-learning course (ELC) in the educational process of Borys Grinchenko Kyiv University and Alfred Nobel University (Dnipro city). We found that the following metrics need improvement: availability of time-appropriate mathematical materials; individual approach in training; students’ self-expression and the development of their creativity in the e-learning process. The following opportunities are brought to light the possibilities of digital technologies for the construction and research of econometric models (based on the problem of dependence of the level of the Ukrainian population employment). Various stages of building and testing of the econometric model are characterized: identification of variables, specification of the model, parameterization and verification of the statistical significance of the obtained results.
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