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The vehicle value externality
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2025.112200
Gernot Sieg , Berthold U. Wigger
{"title":"The vehicle value externality","authors":"Gernot Sieg ,&nbsp;Berthold U. Wigger","doi":"10.1016/j.econlet.2025.112200","DOIUrl":"10.1016/j.econlet.2025.112200","url":null,"abstract":"<div><div>This paper introduces the vehicle value externality as a previously unacknowledged cost of car traffic. Unlike established externalities such as emissions or congestion, the vehicle value externality arises from the impact of vehicle value on accident damages. By developing a model linking insurance premiums to this externality and applying it to German car traffic data, we estimate the annual aggregate cost at 10 billion euros in 2021.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112200"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143134589","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
International competition laws and trade credit financing
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2024.112097
Adelaide Dak-Adzaklo
{"title":"International competition laws and trade credit financing","authors":"Adelaide Dak-Adzaklo","doi":"10.1016/j.econlet.2024.112097","DOIUrl":"10.1016/j.econlet.2024.112097","url":null,"abstract":"<div><div>Using a novel dataset of country-level competition laws across 34 countries, I examine and find a significant positive impact of competition laws on the access and provision of trade credit financing. A wide variety of robustness tests corroborate. In cross-sectional analysis, I find that the effect of competition laws on trade credit is stronger for financially constrained firms, and firms in countries with poorer institutional environments. My finding has important implications for both research and practice.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112097"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165726","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The interaction between personalized pricing and multi-item purchases: A random utility model approach
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2024.112113
Qiuyu Lu , Noriaki Matsushima
{"title":"The interaction between personalized pricing and multi-item purchases: A random utility model approach","authors":"Qiuyu Lu ,&nbsp;Noriaki Matsushima","doi":"10.1016/j.econlet.2024.112113","DOIUrl":"10.1016/j.econlet.2024.112113","url":null,"abstract":"<div><div>We construct a duopolistic random utility model to investigate the effect of personalized pricing on consumers and firms, allowing consumers to purchase from both firms. Under an exponential distribution, personalized pricing always benefits firms but can either benefit or harm consumer welfare.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112113"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143165737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Two-part tariff, demand uncertainty and double marginalization: An experiment
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2025.112171
Olivier Bonroy, Alexis Garapin, Nicolas Pasquier
{"title":"Two-part tariff, demand uncertainty and double marginalization: An experiment","authors":"Olivier Bonroy,&nbsp;Alexis Garapin,&nbsp;Nicolas Pasquier","doi":"10.1016/j.econlet.2025.112171","DOIUrl":"10.1016/j.econlet.2025.112171","url":null,"abstract":"<div><div>In an uncertain demand environment, the per-unit price of a two-part tariff can have insurance properties, insofar as it transfers risk from risk-averse downstream firms to less risk averse upstream firms, and compensation properties insofar as it compensates downstream firms for lessened attractiveness of trade. Both properties have opposite effects such as the first one can increase double marginalization and the second one can mitigate it. This paper provides experimental evidence of both properties.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112171"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
On the uniqueness of the mixed equilibrium in the Tullock contest
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2025.112166
Christian Ewerhart
{"title":"On the uniqueness of the mixed equilibrium in the Tullock contest","authors":"Christian Ewerhart","doi":"10.1016/j.econlet.2025.112166","DOIUrl":"10.1016/j.econlet.2025.112166","url":null,"abstract":"<div><div>It is shown that the two-player Tullock contest admits precisely one equilibrium in randomized strategies.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112166"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Corporate carbon emissions and financial performance: A flexible copula-based model to address non-random sample selection
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2025.112188
Luca Zanin
{"title":"Corporate carbon emissions and financial performance: A flexible copula-based model to address non-random sample selection","authors":"Luca Zanin","doi":"10.1016/j.econlet.2025.112188","DOIUrl":"10.1016/j.econlet.2025.112188","url":null,"abstract":"<div><div>We examine the relationship between corporate carbon emissions and financial performance indicators among European-listed companies in the most polluting sectors from 2010 to 2022. We use a flexible copula-based model within a GAMLSS (Generalised Additive Models for Location, Scale, and Shape) framework to address potential non-random sample selection (Wojtyś et al., 2018). We highlight that neglecting to account for sample selection bias — only analysing firms that disclose their emissions — can lead to biased covariate estimates. Furthermore, the flexibility of the chosen approach in modelling covariate-response relationships helps in identifying complex behavioural patterns that traditional linear methods often overlook. The findings enhance the understanding of the factors affecting corporate carbon emissions. This information is crucial for policymakers and corporate governance, as it helps identify business conditions associated with lower (higher) emissions.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112188"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The true gender pay gap: Accounting for the distribution of unpaid labour
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2024.112144
Louisa Roos
{"title":"The true gender pay gap: Accounting for the distribution of unpaid labour","authors":"Louisa Roos","doi":"10.1016/j.econlet.2024.112144","DOIUrl":"10.1016/j.econlet.2024.112144","url":null,"abstract":"<div><div>This paper proposes a novel method to measure gender pay gaps, incorporating paid and unpaid labour. Decomposition analysis using Swiss labour force data attributes a sizable and persistent share of this pay gap to segregation across paid and unpaid work.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112144"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Investment and endogenous efficiency in a contest
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2024.112131
Derek J. Clark , Tapas Kundu , Tore Nilssen
{"title":"Investment and endogenous efficiency in a contest","authors":"Derek J. Clark ,&nbsp;Tapas Kundu ,&nbsp;Tore Nilssen","doi":"10.1016/j.econlet.2024.112131","DOIUrl":"10.1016/j.econlet.2024.112131","url":null,"abstract":"<div><div>Contests are ubiquitous but do not happen in a vacuum. Rivals can prepare themselves for the contest to improve their ultimate chance of victory. Two contestants with different prize values play an all-pay auction and can invest to improve the efficiency of their own effort in the contest. We show that at most one player will invest, and that two asymmetric pure-strategy equilibria exist depending upon the identity of the investor. If the high-value player invests, then investment reinforces the initial asymmetry; investment by the low-value player turns the tables on the initially advantaged rival. The investment opportunity moves competition away from the contest, resulting in less expected contest effort than would occur without investment.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112131"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The real cost channel and the Phillips Curve for China
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2024.112160
He Nie , Jiarui Yao , Haoan Wang
{"title":"The real cost channel and the Phillips Curve for China","authors":"He Nie ,&nbsp;Jiarui Yao ,&nbsp;Haoan Wang","doi":"10.1016/j.econlet.2024.112160","DOIUrl":"10.1016/j.econlet.2024.112160","url":null,"abstract":"<div><div>Recent evidence indicates that the Phillips Curve (PC) has flattened, as shown by a decline in its slope. Concurrently, significant fluctuations and an upward trend in China’s real interest rates have widened the divergence from nominal interest rates. Motivated by these observations, we estimate the PC incorporating the real cost channel, which captures the effect of real interest rates on firms’ marginal costs. Using macroeconomic data for China, we find that the real cost channel contributes to explaining the flattening of the PC for China. Furthermore, the influence of the real cost channel on the PC has intensified in recent years.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112160"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166163","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Wastefulness in sequential school choice with public and private schools
IF 2.1 4区 经济学
Economics Letters Pub Date : 2025-02-01 DOI: 10.1016/j.econlet.2024.112141
Tommy Andersson , Umut Dur , Sinan Ertemel , Onur Kesten
{"title":"Wastefulness in sequential school choice with public and private schools","authors":"Tommy Andersson ,&nbsp;Umut Dur ,&nbsp;Sinan Ertemel ,&nbsp;Onur Kesten","doi":"10.1016/j.econlet.2024.112141","DOIUrl":"10.1016/j.econlet.2024.112141","url":null,"abstract":"<div><div>Using data from the Swedish municipality of Botkyrka, this paper quantifies the trade-off between non-wastefulness and truthfulness in sequential admission systems for public and private schools. The results show that minimizing seat waste while preserving truthfulness is possible by restricting first-round applications to either private or public schools, depending on which type of school that is expected to have fewer applicants. These findings offer practical insights for improving the efficiency of real-world sequential school admission systems.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"247 ","pages":"Article 112141"},"PeriodicalIF":2.1,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143166175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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