New insights into the nonlinearity of the ECB Taylor Rule

We apply a non-parametric procedure, Multiple Adaptive Regression Splines (MARS), to endogenously select the best multiple threshold model for the European Central Bank (ECB) Taylor Rule (TR). MARS offers the advantage of not excluding simpler models if they better fit the data. On monthly data from 1/2000 to 9/2016, the TR exhibits thresholds for both…

Converting Parkinson-Specific Scores into Health State Utilities to Assess Cost-Utility Analysis

Objectives. The aim of this study was to compare the Parkinson’s Disease Questionnaire-8 (PDQ-8) with three multi-attribute utility (MAU) instruments (EQ-5D-3L, EQ-5D-5L, and 15D) and to develop mapping algorithms that could be used to transform PDQ-8 scores into MAU scores. Methods. A cross-sectional study was conducted. A final sample of 228 evaluable patients was included…

Reducing preference reversals: The role of preference imprecision and nontransparent methods

Preferences elicited with matching and choice usually diverge (as characterised by preference reversals), violating a basic rationality requirement, namely, procedure invariance. We report the results of an experiment that shows that preference reversals between matching (Standard Gamble in our case) and choice are reduced when the matching task is conducted using nontransparent methods. Our results…

Latin American cycles: Has anything changed after the Great Recession?

This paper analyzes the evolution of growth cycles and business cycles in Latin America from 1980 to 2013 by using monthly industrial production. Focusing on both synchronization and other cyclical features, we find evidence of significant cyclical links between the countries of the region, which seem to be highly integrated in this period. Notably, we…

Improving scope sensitivity in contingent valuation: Joint and separate evaluation of health states

We present data of a contingent valuation survey, testing the effect of evaluation mode on the monetary valuation of preventing road accidents. Half of the interviewees was asked to state their willingness to pay (WTP) to reduce the risk of having only 1 type of injury (separate evaluation, SE), and the other half of the…

Bankruptcy Problems with two References: An Impartial Compromise

ABSTRACT Pulido et al. (Annals Oper Res 158:133–141, 2008) present an extension of the classical bankruptcy problem (O’Neill in Math Social Sci 2:345–371, 1982) where the involved agents have, apart from the claims vector, an additional reference vector. To analyze this extended problem, they propose the extreme and the diago- nal approaches, both of them…

Risk-taking attitudes of people who seek health care: an exploratory approach through lottery games using generalized estimating equations

Fundamento: La caracterización de la actitud ante el riesgo puede ser útil en la planificación de las intervenciones sanitarias. El objetivo fue estudiar la actitud ante el riesgo de una población que demanda cuidados de salud y evaluar la capacidad de un juego de loterías para evidenciar dicha actitud. Métodos: Estudio multicéntrico transversal. Se recogieron…

Techno-economic implications of the mass-market uptake of mobile data services: Requirements for next generation mobile networks

ABSTRACT The growth of the mobile data services market is no longer dependent on push strategies from suppliers. On the contrary, demand is now driving the market to the extent that it will not be easy for mobile operating companies to cope up with the demand to come in the near future. Operators are forced…

A note on the SG(m) Test

ABSTRACT López et al. (Reg Sci Urban Econ 40(2–3):106–115, 2010) introduce a nonparametric test of spatial dependence, called SG(m). The test is claimed to be consistent and asymptotically Chi-square distributed. Elsinger (Reg Sci Urban Econ 43(5):838–840, 2013) raises doubts about the two properties. Using a particular counterexample, he shows that the asymptotic distribution of the…