The computation of opportunity costs in polychotomous choice models with selectivity

Article Abstract:

A general method for computing opportunity costs for sample selection models with polychotomous choices is given. Opportunity costs for individuals who did not choose alternatives are derived by measuring observed choice probabilities and the results of alternatives chosen by some individuals. The formulas can be used in empirical studies.

Measurement

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On the effect of opportunity cost on international reserve holdings

Article Abstract:

Most studies have failed to estimate the effect of opportunity cost of the demand for reserves because this is not measured as the difference between the real rate of return on capital and on reserves. Using 1968-88 data for Israel, proper estimation of this cost reveals the vital role it plays as a determinant of reserve demand.

Foreign exchange reserves

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A composite cost function for multiproduct firms with an application to economies of scope in banking

Article Abstract:

The log-quadratic input price structure is combined with a quadratic output structure in a new model called the composite cost function. The composite cost function being proposed is applicable for multiproduct firms where economies of scope, product specific economies of scale and subadditivity are to be examined.

Models, Banking industry, Economic aspects, Economies of scale, Costs, Industrial, Industrial costs

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