New firm survival: new results using a hazard function

Article Abstract:

An examination of the post-entry performance of over 12,000 manufacturing companies established since 1976 via the hazard duration model showed that an establishment's inherent characteristics affect its risk exposure. The companies' chances for survival were also associated with their technological and market structure environments. Audretsch's 1991 study of new-company survival, which addressed survival rates at the industrial instead of the business level, failed to draw this conclusion.

Research, New business enterprises, Startups, Business failures

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Estimating social welfare using count data models: an application to long-run recreation demand under conditions of endogenous stratification and truncation

Article Abstract:

A negative binomial recreation demand model is developed to make truncation and endogenous stratification adjustments in the experimental data on long-run demands for hiking trails. Results show that hiking enthusiasts were willing to pay $0.28 for a yearly hike in Pacific Northwest trails. The hiking trails in the Cascade Mountains were valued at $1.148 million annually, based on aggregated data of the state's population.

Supply and demand, Recreation, Trails

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