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Chin Wei Yang,S, N, Sohng,John A, Fox 서울대학교 경제연구소 2005 Seoul journal of economics Vol.18 No.3
Well-known in the literature, a profit tax on an unregulated monopoly will not alter the optimal position of price and output. Given that unregulated monopoly is few and far in between, it has little practical relevance. This paper presents for the first time a paradox: A profit tax can indeed alter the optimal price and output and as such may lead to a welfare improvement in the case of a rate-of-return-regulated monopoly. In addition, it does not require extraneous assumptions of increasing returns to scale and/or very convex demand curve.
Hypothetical Bias and Substitutes in Stated Preference Survey: The Case of Irradiated Meat
이지용,John A. Fox,Rodolfo M. Nayga, Jr.,한두봉 한국농업경제학회 2018 農業經濟硏究 Vol.59 No.3
We examine whether allowing field substitutes to be simultaneously valued with a good of interest in a hypothetical valuation survey moderates behavioral bias between hypothetical statements and actual behaviors. We use a within-sample experiment and compare values in a hypothetical survey with values in a non-hypothetical experimental auction. Especially, we test whether a common calibration function exists for the good of interest with and without the presence of substitutes. We then estimate each calibration function and compare calibration factors. We find that hypothetical bias differs with and without the presence of substitutes and allowing the field substitutes to be simultaneously valued with the product of interest in a hypothetical valuation survey reduces hypothetical bias. Our results suggest that considering substitutes in the application of stated preference survey can help identify the true underlying demand conditions.
Hypothetical Bias and Substitutes in Stated Preference Survey: The Case of Irradiated Meat
( Ji Yong Lee ),( John A. Fox ),( Rodolfo M. Nayga Jr ),( Doo Bong Han ) 한국농업경제학회 2018 KOREAN JOURNAL OF AGRICULTURAL ECONOMICS(KJAT) Vol.59 No.3
We examine whether allowing field substitutes to be simultaneously valued with a good of interest in a hypothetical valuation survey moderates behavioral bias between hypothetical statements and actual behaviors. We use a within-sample experiment and compare values in a hypothetical survey with values in a non-hypothetical experimental auction. Especially, we test whether a common calibration function exists for the good of interest with and without the presence of substitutes. We then estimate each calibration function and compare calibration factors. We find that hypothetical bias differs with and without the presence of substitutes and allowing the field substitutes to be simultaneously valued with the product of interest in a hypothetical valuation survey reduces hypothetical bias. Our results suggest that considering substitutes in the application of stated preference survey can help identify the true underlying demand conditions.