Showing papers on "Proxy (statistics) published in 1980"
TL;DR: A reexamination of data used by Berry to study housing prices in Chicago is presented in this article, where detailed data on 275 single-family houses are used to test the proposition that the tax assessment on improvements is a good proxy for the attributes of the houses.
12 citations
7 citations
TL;DR: In this article, the authors examine the errors in estimates of seller-concentration caused by incorrect calculations of market-shares and the fault on which they focus is the failure to take account of international trade.
Abstract: SELLER-CONCENTRATIONplays a major role in most theories of market-behavior and market-performance. As a result, most empirical studies of industrial organization include a variable representing the degree of seller-concentration in relevant markets. Unfortunately, seller-concentration cannot be measured easily: Market-boundaries are difficult to identify, and marketshares of particular firms are difficult to calculate. Therefore, most concentration variables are mere proxies for true seller-concentration. The quality of research on seller-concentration hinges on the quality of the proxy selected. Except in the context of antitrust Jitigation, where marketboundaries are always subjected to exegesis, little is known regarding the accuracy of popular proxies for seller-concentration.' In this article, I shall examine the errors in estimates of seller-concentration caused by incorrect calculations of market-shares. The fault on which I shall focus is the failure to take account of international trade.2 In effect, I shall be exploring the suitability of producer-concentration as a proxy for seller-concentration.3 Whether or not producer-concentration should be employed as a proxy for seller-concentration is essentially an empirical question. The relevant facts include the degree to which producerand seller-concentration tend to diverge in magnitude, as well as the degree to which variations across markets in seller-concentration correlate closely with corresponding variations in
5 citations
TL;DR: In this article, the authors developed a putty-putty and clay-clay investment expenditure models which would provide datum lines from which the impact of modelling financial factors could be viewed.
Abstract: This paper arises from a problem encountered in the author's work on modelling investment expenditures of Industrial and Commercial Companies (see Anderson (1978a)). An attempt was made to develop conventional putty-putty and clay-clay investment expenditure models which would provide datum lines from which the impact of modelling financial factors could be viewed. For brevity only the results pertaining to a putty-putty model will be reported though similar results for a clay-clay model have also been obtained (see Anderson (1978b)). If, for simplicity, it is assumed that the rate of capital deterioration and the long run rate of interest are assumed constant over the sample period, a simple putty-putty model may be written as: - =l(L) Qt __t
4 citations
2 citations
2 citations