At this point in time, there is no generally accepted methodology for explaining and predicting human behavior given a product choice situation. This is true despite the critical importance of such meth odology to marketing, transportation and urban planning. While the social sciences provide numerous theories to be tested and the mathe matical and statistical procedures exist in general to do so, at this point, no single unified theory has emerged. It is generally accepted that to explain product choice behav ior, products must be described in terms of attributes. Using anyone of a number of procedures, it is possible to obtain measurements on the attributes of the products under consideration. However, there is no generally accepted methodology. Given the attribute profiles of two products, in order to explain and predict preference, it is necessary to determine the relative importance of each of the product attributes. Once again, there is no generally accepted methodology. There are two basic approaches: The first, called the attitudinal approach, obtains importance measure ments directly from respondents using one of many scaling techniques; the second, termed the inferential method endeavors to infer impor tances from product preference and attribute data. Since it is gen erally felt that respondents are unwilling and/or unable to provide meaningful importance measurements, the inferential method is most widely accepted."

These essays in honor of Professor Gerhard Tintner are substantive contributions to three areas of econometrics, (1) economic models and applications, . (2) estimation, and (3) stochastic programming, in each of which he has labored with outstanding success. His own work has extended into multivariate analysis, the pure theory of decision-making under un certainty, and other fields which are not touched upon here for reasons of space and focus. Thus, this collection is appropriate to his interests but covers much less than their full range. Professor Tintner's contributions to econometrics through teaching, writing, editing, lecturing and consulting have been varied and inter national. We have tried to highlight them in "The Econometric Work of Gerhard Tintner" and to place them in historical perspective in "The Invisible Revolution in Economics: Emergence of a Mathematical Science. " Professor Tintner's career to date has spanned the organizational life of the Econometric Society and his contributions have been nearly coextensive with its scope. His principal books and articles up to 1968 are listed in the "Selected Bibliography. " Professor Tintner's current research involves the intricate problems of specification and application of stochastic processes to economic systems, particularly to growth, diffusion of technology, and optimal control. As always, he is moving with the econometric frontier and a portion of the frontier is moving with him. IV Two of the editors wrote dissertations under Professor Tintner's sup- vision; the third knew him as a colleague and friend."

The past twenty years have seen an extraordinary growth in the use of quantitative methods in financial markets. Finance professionals now routinely use sophisticated statistical techniques in portfolio management, proprietary trading, risk management, financial consulting, and securities regulation. This graduate-level textbook is intended for PhD students, advanced MBA students, and industry professionals interested in the econometrics of financial modeling. The book covers the entire spectrum of empirical finance, including: the predictability of asset returns, tests of the Random Walk Hypothesis, the microstructure of securities markets, event analysis, the Capital Asset Pricing Model and the Arbitrage Pricing Theory, the term structure of interest rates, dynamic models of economic equilibrium, and nonlinear financial models such as ARCH, neural networks, statistical fractals, and chaos theory.

Each chapter develops statistical techniques within the context of a particular financial application. This exciting new text contains a unique and accessible combination of theory and practice, bringing state-of-the-art statistical techniques to the forefront of financial applications. Each chapter also includes a discussion of recent empirical evidence, for example, the rejection of the Random Walk Hypothesis, as well as problems designed to help readers incorporate what they have read into their own applications

Originating from the International Network for Economic Method conference, hosted by the Erasmus Institute for Economics and Philosophy (EIPE) at the Erasmus University Rotterdam in 2013, this book chooses key themes that reflect on fascinating new developments in the philosophy of economics. Contributions discuss new avenues and debates in important and upcoming areas, such as the philosophy of economic policy making, decision theory, ethics, and new questions in economic methodology. The book offers an excellent insight into cutting edge research in these fields that are about to shape the future of the philosophy of economics. This book was originally published as a special issue of The Journal of Economic Methodology.

Since the 1980s, and especially since the Rio Earth Summit in 1992, there has been a substantial extension in the adoption and use of Environmental Assessment (EA) procedures in developing countries and countries in transition (low and middle income countries). However, few existing texts in environmental assessment or development studies have reflected this trend sufficiently, until this publication. The book is divided into two main parts:

• Part 1: EA Principles, Processes and Practice. EA procedures and practice in low and middle income countries are overviewed in six different regions of the world. They are then examined, in greater detail, in each of the key stages in the EA process.

• Part 2: Country and Institutional Studies of EA Procedures and Practice. This section includes six country studies that cover Chile, Indonesia, Russia, Nepal, Jordan and Zimbabwe. Three institutional studies review EA procedures and practice in the World Bank, the Asian Development Bank, and bilateral development agencies.

This is the first of two volumes containing papers and commentaries presented at the Eleventh World Congress of the Econometric Society, held in Montreal, Canada in August 2015. These papers provide state-of-the-art guides to the most important recent research in economics. The book includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a wide variety of topics, covering both theory and application. These volumes provide a unique, accessible survey of progress on the discipline, written by leading specialists in their fields. The first volume includes theoretical and applied papers addressing topics such as dynamic mechanism design, agency problems, and networks.

It is very useful and timely book as demand forecasting has become a very crucial tool and provides important information for destination on which policy are created and implemented. This is especially important given the complexities arising the aftermath of the Covid19 pandemic. * It looks at novel and recent developments in this field including judgement and scenario forecasting. * Offers a comprehensive approach to tourism econometrics, looking at a variety of aspects. * The authors are experts in this field and of the highest academic calibre.

Originally published in 1981. Discrete-choice modelling is an area of econometrics where significant advances have been made at the research level. This book presents an overview of these advances, explaining the theory underlying the model, and explores its various applications. It shows how operational choice models can be used, and how they are particularly useful for a better understanding of consumer demand theory. It discusses particular problems connected with the model and its use, and reports on the authors' own empirical research. This is a comprehensive survey of research developments in discrete choice modelling and its applications.

Originally published in 1974. This book provides a rigorous and detailed introductory treatment of the theory of difference equations and their applications in the construction and analysis of dynamic economic models. It explains the theory of linear difference equations and various types of dynamic economic models are then analysed. Including plenty of examples of application throughout the text, it will be of use to those working in macroeconomics and econometrics.

This book constitutes the first serious attempt to explain the basics of econometrics and its applications in the clearest and simplest manner possible. Recognising the fact that a good level of mathematics is no longer a necessary prerequisite for economics/financial economics undergraduate and postgraduate programmes, it introduces this key subdivision of economics to an audience who might otherwise have been deterred by its complex nature.

This book is a volume in the Penn Press Anniversary Collection. To mark its 125th anniversary in 2015, the University of Pennsylvania Press rereleased more than 1,100 titles from Penn Press's distinguished backlist from 1899-1999 that had fallen out of print. Spanning an entire century, the Anniversary Collection offers peer-reviewed scholarship in a wide range of subject areas.

The core methods in today's econometric toolkit are linear regression for statistical control, instrumental variables methods for the analysis of natural experiments, and differences-in-differences methods that exploit policy changes. In the modern experimentalist paradigm, these techniques address clear causal questions such as: Do smaller classes increase learning? Should wife batterers be arrested? How much does education raise wages? "Mostly Harmless Econometrics" shows how the basic tools of applied econometrics allow the data to speak.

In addition to econometric essentials, "Mostly Harmless Econometrics" covers important new extensions--regression-discontinuity designs and quantile regression--as well as how to get standard errors right. Joshua Angrist and Jorn-Steffen Pischke explain why fancier econometric techniques are typically unnecessary and even dangerous. The applied econometric methods emphasized in this book are easy to use and relevant for many areas of contemporary social science.An irreverent review of econometric essentials A focus on tools that applied researchers use most Chapters on regression-discontinuity designs, quantile regression, and standard errors Many empirical examples A clear and concise resource with wide applications"

This title, first published in 1984, is a contribution to applied international trade theory. The author explores the specification and estimation of a multisector general equilibrium model of the open economy. The model is formulated with the aim of assessing empirically the effects of three key policy variables on trade flows, domestic prices, and the trade balance. The policy variables with which the author is concerned are the rate of growth of the stock of domestic credit, commercial policy, as represented by tariffs, and, finally, the exchange rate. This title will be of interest to students of economics.

Now in its third edition, Essential Econometric Techniques: A Guide to Concepts and Applications is a concise, student-friendly textbook which provides an introductory grounding in econometrics, with an emphasis on the proper application and interpretation of results. Drawing on the author's extensive teaching experience, this book offers intuitive explanations of concepts such as heteroskedasticity and serial correlation, and provides step-by-step overviews of each key topic. This new edition contains more applications, brings in new material including a dedicated chapter on panel data techniques, and moves the theoretical proofs to appendices. After Chapter 7, students will be able to design and conduct rudimentary econometric research. The next chapters cover multicollinearity, heteroskedasticity, and autocorrelation, followed by techniques for time-series analysis and panel data. Excel data sets for the end-of-chapter problems are available as a digital supplement. A solutions manual is also available for instructors, as well as PowerPoint slides for each chapter. Essential Econometric Techniques shows students how economic hypotheses can be questioned and tested using real-world data, and is the ideal supplementary text for all introductory econometrics courses.

The last decade has brought dramatic changes in the way that researchers analyze economic and financial time series. This book synthesizes these recent advances and makes them accessible to first-year graduate students. James Hamilton provides the first adequate text-book treatments of important innovations such as vector autoregressions, generalized method of moments, the economic and statistical consequences of unit roots, time-varying variances, and nonlinear time series models. In addition, he presents basic tools for analyzing dynamic systems (including linear representations, autocovariance generating functions, spectral analysis, and the Kalman filter) in a way that integrates economic theory with the practical difficulties of analyzing and interpreting real-world data. "Time Series Analysis" fills an important need for a textbook that integrates economic theory, econometrics, and new results.

The book is intended to provide students and researchers with a self-contained survey of time series analysis. It starts from first principles and should be readily accessible to any beginning graduate student, while it is also intended to serve as a reference book for researchers.

Stochastic Limit Theory, published in 1994, has become a standard reference in its field. Now reissued in a new edition, offering updated and improved results and an extended range of topics, Davidson surveys asymptotic (large-sample) distribution theory with applications to econometrics, with particular emphasis on the problems of time dependence and heterogeneity. The book is designed to be useful on two levels. First, as a textbook and reference work, giving definitions of the relevant mathematical concepts, statements, and proofs of the important results from the probability literature, and numerous examples; and second, as an account of recent work in the field of particular interest to econometricians. It is virtually self-contained, with all but the most basic technical prerequisites being explained in their context; mathematical topics include measure theory, integration, metric spaces, and topology, with applications to random variables, and an extended treatment of conditional probability. Other subjects treated include: stochastic processes, mixing processes, martingales, mixingales, and near-epoch dependence; the weak and strong laws of large numbers; weak convergence; and central limit theorems for nonstationary and dependent processes. The functional central limit theorem and its ramifications are covered in detail, including an account of the theoretical underpinnings (the weak convergence of measures on metric spaces), Brownian motion, the multivariate invariance principle, and convergence to stochastic integrals. This material is of special relevance to the theory of cointegration. The new edition gives updated and improved versions of many of the results and extends the coverage of many topics, in particular the theory of convergence to alpha-stable limits of processes with infinite variance.

Financial Economics and Econometrics provides an overview of the core topics in theoretical and empirical finance, with an emphasis on applications and interpreting results. Structured in five parts, the book covers financial data and univariate models; asset returns; interest rates, yields and spreads; volatility and correlation; and corporate finance and policy. Each chapter begins with a theory in financial economics, followed by econometric methodologies which have been used to explore the theory. Next, the chapter presents empirical evidence and discusses seminal papers on the topic. Boxes offer insights on how an idea can be applied to other disciplines such as management, marketing and medicine, showing the relevance of the material beyond finance. Readers are supported with plenty of worked examples and intuitive explanations throughout the book, while key takeaways, 'test your knowledge' and 'test your intuition' features at the end of each chapter also aid student learning. Digital supplements including PowerPoint slides, computer codes supplements, an Instructor's Manual and Solutions Manual are available for instructors. This textbook is suitable for upper-level undergraduate and graduate courses on financial economics, financial econometrics, empirical finance and related quantitative areas.

The book, Sustainability and Resources: Theoretical Issues in Dynamic Economics, presents a collection of mathematical models dealing with sustainability and resource management.The focus in Part A is on harvesting renewable resources, while Part B explores the optimal extraction of exhaustible resources. Part C introduces models dealing with uncertainty. Some are descriptive models; others have deep roots in intertemporal welfare economics. The tools of dynamic optimization developed in the 1960s are used in a formal, rigorous presentation to address wide-ranging issues that have appeared in academic research as well as policy debates on the world stage.The book also provides a self-contained treatment that is accessible to advanced undergraduate and graduate students, who are interested in dynamic models of resource allocation and social welfare, resource management, and applications of optimization theory and methods of probability theory to economics. For researchers in dynamic economics, it will be an invaluable source for formal treatment of substantive macroeconomic issues raised by policymakers. The part dealing with uncertainty and random dynamical systems (largely developed by the author and his collaborators) exposes the reader to contemporary frontiers of research on stochastic processes with novel applications to economic problems.

This Open Access Brief presents the KAPSARC Global Energy Macroeconometric Model (KGEMM). KGEMM is a policy analysis tool for examining the impacts of domestic policy measures and global economic and energy shocks on the Kingdom of Saudi Arabia. The model has eight blocks (real sector, fiscal, monetary, external sector, price, labor and wages, energy, population, and age cohorts) that interact with each other to represent the Kingdom's macroeconomy and energy linkages. It captures New Keynesian demand-side features anchored to medium-run equilibrium and long-run aggregate supply. It applies a cointegration and equilibrium correction modeling (ECM) methodology to time series data to estimate the model's behavioral equations in the framework of Autometrics, a general-to-specific econometric modeling strategy. Hence, the model combines 'theory-driven' approach with 'data-driven' approach. The Brief begins with an introduction to the theoretical framework of the model and the KGEMM methodology and then walks the reader through the structure of the model and its behavioral equations. The book closes with simulations showing the application of the model. Providing a detailed introduction to a cutting-edge, robust predictive model, this Brief will be of great use to researchers and policymakers interested in macroeconomics, energy economics, econometrics, and more specifically, the economy of Saudi Arabia.

This book is the first of its kind to systematically analyze and apply Lim Chong Yah's S-Curve Hypothesis to the various facets of economic growth and economic transition. By augmenting the mathematical and economical sophistication of the hypothesis, this book extends the S-Curve hypothesis to provide further insight into economic growth and transition.

It also utilizes a construction of a stochastic growth model to provide the microeconomic foundation for the S-Curve hypothesis. This model resolves the puzzle of why some developing countries experience economic take-off, while others do not. The book analyzes and extends discussion on the S-Curve, and also applies the S-Curve hypothesis to predict long-term growth in Japan and Singapore. It serves as an excellent resource for people interested in Lim's growth theory.

Market Analysis for Real Estate is a comprehensive introduction to how real estate markets work and the analytical tools and techniques that can be used to identify and interpret market signals. The markets for space and varied property assets, including residential, office, retail, and industrial, are presented, analyzed, and integrated into a complete understanding of the role of real estate markets within the workings of contemporary urban economies. Unlike other books on market analysis, the economic and financial theory in this book is rigorous and well integrated with the specifics of the real estate market. Furthermore, it is thoroughly explained as it assumes no previous coursework in economics or finance on the part of the reader. The theoretical discussion is backed up with numerous real estate case study examples and problems, which are presented throughout the text to assist both student and teacher.

Including discussion questions, exercises, several web links, and online slides, this textbook is suitable for use on a variety of degree programs in real estate, finance, business, planning, and economics at undergraduate and MSc/MBA level. It is also a useful primer for professionals in these disciplines.

Table of Contents

PART A: INTRODUCTION 1. Market Analysis In Perspective 2. Real Estate Economics PART B: METROPOLITAN GROWTH ANALYSIS 3. Metropolitan Growth Patterns 4. Analyzing Metropolitan Economies PART C: ANALYZING RESIDENTIAL REAL ESTATE MARKETS 5. Residential Real Estate Markets 6. Macroeconomic Analysis of Residential Real Estate Markets: Accounting Techniques 7. Macroeconomic Analysis of Residential Real Estate Markets: The Basics of the Econometric Approach 8. Macroeconomic Analysis of Residential Real Estate Markets: Applying the Econometric Approach 9. Analyzing Residential Projects: A Micro Perspective 10. Analysis of Residential Real Estate Markets: An Example PART D: ANALYZING THE MARKET FOR RETAIL SPACE 11. Retail Markets and Retail Market Studies 12. Analyzing the Market for Retail Space 13. Analyzing the Market for Retail Space: Synthesis and Market Studies PART E: OFFICE MARKET ANALYSIS 14. The Market for Office Space 15. Office Market Analysis: A Macro Perspective 16. Micro Analysis of Office Markets 17. Office Market Analysis: Synthesis and Market Studies PART F: INDUSTRIAL MARKET ANALYSIS 18. Industrial Space Market PART G: DATA SOURCES 19. Data Sources for Real Estate Market Analysis