Mixed logit with repeated choices: households' choices of appliance efficiency level

Article Abstract:

Households' choices of appliances under utility-sponsored programs that offer rebates or loans on high-efficiency items were investigated by estimating the mixed or random-parameters logit. Mixed logit models generalize standard logit by allowing the parameter correlated to each observed variable to vary randomly across customers. Empirical results showed that the loans offered on high-efficiency appliances are attractive to some households, although the loans have no significant appeal to households with average tastes.

Household Appliances, Household Appliance Manufacturing, Models, Appliances, Consumer preferences, Home appliances, Personal loans, Households, Logits, Rebates

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On the relationships between consumption, income and wealth

Article Abstract:

Various studies relate real nondurables and services consumption to real income and wealth, with the latter measures obtained by deflating with a price index for total consumption expenditures. An alternative approach that exploits the fact that the ratio of the series has historically been stable in nominal terms and demonstrate that the choice of deflation methodology has important implications for wealth effect estimation and tests of the permanent income hypothesis.

Consumption (Economics), Consumer behaviour, Permanent income theory, Nondurable goods

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Does wealth explain black-white differences in early employment careers?

Article Abstract:

The effect of initial wealth disparity on the differences in early employment careers of black and white people in Mexico is studied. Differences in the labor market environment and in preferences account for racial gaps in wealth. Initial wealth partially accounts for differences in early employment careers.

Employment, Administration of General Economic Programs, Mexico, Jobs & Employment, Economic aspects, Demographic aspects, Distribution (Economics), Distribution of wealth, Report

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