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Satisfaction with life is a self-reported measure of the quality of life that has become a critical societal indicator extensively used for the evaluation and comparison of a wide range of trends and policies. This study fuses five cross-sectional travel surveys conducted from 1992 to 2018 across various geographical locations in California. Using the fused sample, we develop generalized ordered logit models to examine the effects of demographic characteristics, travel-related attributes, general and transport-related attitudinal variables, and context-control variables on individuals’ self-reported measures of life satisfaction. We find that longer commute times, mobility limitations, and a tendency to see travel as a waste of time are negatively associated with life satisfaction.<... |
We provide micro foundations for the global production function (GPF) based on the standard microeconomic model, and we develop a parallel probabilistic model with similar properties. The theoretical and probabilistic models of the GPF are integrated in the context of a technology choice problem. We construct a primitive, named the augmented transformation function, to obtain a GPF and its associated joint distribution that includes the output and labor-saving and capital-saving technological innovations. This type of primitive allows us not only to derive the theoretical GPF but also to consistently build a link between the substitutability microparameters (elasticities) and the probabilistic parameters (correlations). |
We present new descriptive evidence on the immigrant-native gap in risk and time preferences in Germany, one of immigrants’ most preferred destination countries. Using the recent waves of the Socio-Economic Panel (SOEP) dataset, we find that the immigrant-native gap in risk preferences has widened for recent immigration cohorts, especially around the time of the 2015 European Refugee Crisis. We attribute the recent widening to decreased assimilation rates of new immigrants caused by reduced integration due to sudden increases in immigrants flows from culturally diverse parts of the world, particularly around the year 2015. |
In response to the unprecedented uncertain rare events of the last decade, we derive an optimal portfolio choice problem in a semi-closed form by integrating price diffusion ambiguity, volatility diffusion ambiguity, and jump ambiguity occurring in the traditional stock market and the cryptocurrency market into a single framework. We reach the following conclusions in both markets: first, price diffusion and jump ambiguity mainly determine detection-error probability; second, optimal choice is more significantly affected by price diffusion ambiguity than by jump ambiguity, and trivially affected by volatility diffusion ambiguity. |
We introduce stochastic loss into a gift exchange game to study how information on intentions affects reciprocity. In one treatment, the respondent observes the amount received and whether a loss occurred, so both the consequential outcome and the sender’s original intention are known. In the other two treatments, information about whether a loss occurred is hidden, and the respondent is only informed of the amount received (outcome) or the amount initially sent (intention). Using both regression-based approaches and non-parametric tests, we find greater reciprocity in the two treatments that reveal intentions. These differences arise even in a simple one-shot setting without reputational benefits and are economically meaningful; they are similar in magnitude to the difference attri... |
The importance of credit in agriculture and technology adoption is well researched, but little is known about its impact on the intensity of climate adaptation strategies (CAS) utilization. To contribute to the literature on climate change, the study examines the impact of credit status on the intensity of CAS utilization with its treatment effects. Unlike previous studies that investigated CAS as binary decisions or multi-class models, the study changed the narrative by measuring the number of CAS adopted and utilized by crop farmers. Farm-level data were collected from 150 crop farmers in Southwest Nigeria using a well-designed questionnaire. Descriptive statistics and the endogenous treatment Poisson regression (ETPR) model were used for the data analysis. |
In this ever-growing competitive banking industry, understanding the effect of electronic banking service quality on customers’ satisfaction and loyalty is the secret to being competitive and successful in the sector. In Ethiopia, measuring service quality in the banking sector is a new paradigm. The primary purpose of this research was to examine the effect of electronic banking (e-Banking) service quality on customer satisfaction in Ethiopia’s emerging banking industry. Data were obtained using a closed-ended structured questionnaire from a total of 385 participants selected using a convenience sampling technique. Frequencies, percentage distributions, group modes, standard deviations, Chi-square correlations, and multinomial logistic regression were employed to analyze the quanti... |
In this work, we focus on the cross-shareholding structure in financial markets. Specifically, we build ad hoc indices of concentration and control by employing a complex network approach with a weighted adjacency matrix. To describe their left and right tail dependence properties, we explore the theoretical dependence structure between such indices through copula functions. The theoretical framework has been tested over a high-quality dataset based on the Italian Stock Market. In doing so, we clearly illustrate how the methodological setting works and derive financial insights. In particular, we advance calibration exercises on parametric copulas under the minimization of both Euclidean distance and entropy measure. |
The analysis of many phenomena requires partitioning societies into groups and studying the extent at which these groups are distributed with different intensities across relevant non-ordered categorical outcomes. When the groups are similarly distributed, their members have equal chances to achieve any of the attainable outcomes. Otherwise, a form of dissimilarity between groups distributions prevails. We characterize axiomatically the dissimilarity partial order of multi-group distributions defined over categorical outcomes. |
This study investigates challenges facing entrepreneurs in Jordan, identifies some of problems specific to SMEs, and offers some solutions to help these companies improve their conditions. This study collected primary data through interviews with entrepreneurs in four start-up companies specialized in diverse fields, including information technology, consulting, training, and e-marketing. This study found many obstacles facing entrepreneurs in Jordan, the most important of which are financial and logistical support, the challenge of distributing work, owning operating experiences, obtaining information, commercial relations, and networking. The results of this study showed that women face greater challenges in relation to financing and investment opportunities. |
