Massimiliano Ferraresi, Giuseppe Migali, Leonzio Rizzo
Inter-municipal cooperation is a common way to provide local public services, exploit economies of scale and internalize externalities. However, little is known about possible efficiency gains. We test their existence in terms of local public expenditures reductions, by investigating the Italian experience of municipal unions. We adopt quasi-experimental methodologies using administrative data on municipalities in the Emilia Romagna region. We find that being in a municipal union reduces the total per capita current expenditures by around 5 percent, without affecting the level of local public services. The effect is robust, persistent and increasing up to six years after entrance.
{"title":"Does Intermunicipal Cooperation Promote Efficiency Gains? Evidence from Italian Municipal Unions","authors":"Massimiliano Ferraresi, Giuseppe Migali, Leonzio Rizzo","doi":"10.1111/jors.12388","DOIUrl":"https://doi.org/10.1111/jors.12388","url":null,"abstract":"Inter-municipal cooperation is a common way to provide local public services, exploit economies of scale and internalize externalities. However, little is known about possible efficiency gains. We test their existence in terms of local public expenditures reductions, by investigating the Italian experience of municipal unions. We adopt quasi-experimental methodologies using administrative data on municipalities in the Emilia Romagna region. We find that being in a municipal union reduces the total per capita current expenditures by around 5 percent, without affecting the level of local public services. The effect is robust, persistent and increasing up to six years after entrance.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"118431887","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ride-sharing platforms employ surge pricing to match anticipated capacity spillover with demand. We develop an optimization model to characterize the relationship between surge price and spillover. We test predicted relationships using a spatial panel model on a dataset from Uber’s operation. Results reveal that Uber’s pricing accounts for both capacity and price spillover. There is a debate in the management community on the efficacy of labor welfare mechanisms associated with shared capacity. We conduct counterfactual analysis to provide guidance in regards to the debate, for managing congestion, while accounting for consumer and labor welfare through this online platform.
{"title":"Surge Pricing on a Service Platform Under Spatial Spillovers: Evidence From Uber","authors":"Marcus A. Bellamy, N. Joglekar","doi":"10.2139/ssrn.3261811","DOIUrl":"https://doi.org/10.2139/ssrn.3261811","url":null,"abstract":"Ride-sharing platforms employ surge pricing to match anticipated capacity spillover with demand. We develop an optimization model to characterize the relationship between surge price and spillover. We test predicted relationships using a spatial panel model on a dataset from Uber’s operation. Results reveal that Uber’s pricing accounts for both capacity and price spillover. There is a debate in the management community on the efficacy of labor welfare mechanisms associated with shared capacity. We conduct counterfactual analysis to provide guidance in regards to the debate, for managing congestion, while accounting for consumer and labor welfare through this online platform.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133342747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper deals with unobserved heterogeneity in hedonic price models, arising from missing property and locational characteristics. In specific, commercial real estate is very heterogeneous, and data on detailed property characteristics are often lacking. We show that adding mutually independent property random effects to a hedonic price model results in more precise out-of-sample price predictions, both for commercial multifamily housing in Los Angeles and owner-occupied single family housing in Heemstede, the Netherlands. The standard hedonic price model does not take advantage of the fact that some properties sell more than once. We subsequently show that adding spatial random effects leads to an additional increase in prediction accuracy. The increase is highest for properties without prior sales.
{"title":"Dealing with Unobserved Heterogeneity in Hedonic Price Models","authors":"Marc K. Francke, Alex M. van de Minne","doi":"10.2139/ssrn.3249256","DOIUrl":"https://doi.org/10.2139/ssrn.3249256","url":null,"abstract":"This paper deals with unobserved heterogeneity in hedonic price models, arising from missing property and locational characteristics. In specific, commercial real estate is very heterogeneous, and data on detailed property characteristics are often lacking. We show that adding mutually independent property random effects to a hedonic price model results in more precise out-of-sample price predictions, both for commercial multifamily housing in Los Angeles and owner-occupied single family housing in Heemstede, the Netherlands. The standard hedonic price model does not take advantage of the fact that some properties sell more than once. We subsequently show that adding spatial random effects leads to an additional increase in prediction accuracy. The increase is highest for properties without prior sales.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"5 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120887839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
V. Kopytko, Lyubov Shevchuk, L. Yankovska, Zhanna Semchuk
The field of health improvement and life prolonging develops poorly, despite all the advances in medicine, chemistry and genetic engineering. Among the main problems is the difficulty of using new scientific achievements in other industries due to the rapid development of specialized knowledge, the problem of returning costs for the creation of really effective and the problem of aging population in developed countries. There are problems with data for this methods usage with privacy and security on different levels with regional peculiarities. Effective timing of work on health at the personal level can result as a result of increased time and productivity. But it's difficult for people to allocate their intellectual resources for that, so you have to connect artificial intelligence and machine learning. Big Data model with methods and analysis techniques on different levels for health improvement was suggested. The importance of the level of social networks and its regional aspects for the analysis of health improvement data was identified. Big data processing results implementation and levels of interaction with human with request for changes model was proposed. It consists from two levels of interaction with humans by level of quick reaction and discussion with smart personal assistance. Regional aspects from possible AI implementation in undeveloped countries were analyzed on example of personal level big data for health usage.
{"title":"Big Data, Analyzing and Modelling: New Ways of Health Improvement and Regional Aspects","authors":"V. Kopytko, Lyubov Shevchuk, L. Yankovska, Zhanna Semchuk","doi":"10.22178/POS.37-2","DOIUrl":"https://doi.org/10.22178/POS.37-2","url":null,"abstract":"The field of health improvement and life prolonging develops poorly, despite all the advances in medicine, chemistry and genetic engineering. Among the main problems is the difficulty of using new scientific achievements in other industries due to the rapid development of specialized knowledge, the problem of returning costs for the creation of really effective and the problem of aging population in developed countries. There are problems with data for this methods usage with privacy and security on different levels with regional peculiarities. Effective timing of work on health at the personal level can result as a result of increased time and productivity. But it's difficult for people to allocate their intellectual resources for that, so you have to connect artificial intelligence and machine learning. Big Data model with methods and analysis techniques on different levels for health improvement was suggested. The importance of the level of social networks and its regional aspects for the analysis of health improvement data was identified. Big data processing results implementation and levels of interaction with human with request for changes model was proposed. It consists from two levels of interaction with humans by level of quick reaction and discussion with smart personal assistance. Regional aspects from possible AI implementation in undeveloped countries were analyzed on example of personal level big data for health usage.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"169 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116847461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A major concern with demand side housing subsidies to low-income tenants is the extent to which they may be captured by landlords in the form of higher rents. The Accommodation Supplement (AS) benefit is the largest housing subsidy policy in New Zealand. A 2005 policy change created a new AS-area around central Auckland that resulted in an increase in AS entitlement for residents within the area compared to those outside. In this paper we exploit the natural experiment created by this policy change to evaluate whether the increase in accommodation support for recipients in the new area led to relatively higher rents than paid by recipients outside the boundary. We use administrative data for a sample of AS recipients on either side of the new area boundary over the four-year period spanning the policy change. Our analysis shows that as a result of the policy change, recipients on the inside of the boundary received around $6.81 per week more in total accommodation support in the second year after the policy was implemented. We estimate that weekly rents increased on average about $2.44 more inside the boundary (36 percent of the increase in AS) and, as expected, the impacts were stronger at higher quantiles of the rent distribution. We also find that the rent increases were concentrated among families with children, and present some evidence that this reflected increased spending on housing (which may have reduced over-crowding), rather than a wider increase in rental prices.
{"title":"Do housing allowances increase rents? Evidence from a discrete policy change.","authors":"D. Hyslop, David Rea","doi":"10.2139/ssrn.3477041","DOIUrl":"https://doi.org/10.2139/ssrn.3477041","url":null,"abstract":"A major concern with demand side housing subsidies to low-income tenants is the extent to which they may be captured by landlords in the form of higher rents. The Accommodation Supplement (AS) benefit is the largest housing subsidy policy in New Zealand. A 2005 policy change created a new AS-area around central Auckland that resulted in an increase in AS entitlement for residents within the area compared to those outside. In this paper we exploit the natural experiment created by this policy change to evaluate whether the increase in accommodation support for recipients in the new area led to relatively higher rents than paid by recipients outside the boundary. We use administrative data for a sample of AS recipients on either side of the new area boundary over the four-year period spanning the policy change. Our analysis shows that as a result of the policy change, recipients on the inside of the boundary received around $6.81 per week more in total accommodation support in the second year after the policy was implemented. We estimate that weekly rents increased on average about $2.44 more inside the boundary (36 percent of the increase in AS) and, as expected, the impacts were stronger at higher quantiles of the rent distribution. We also find that the rent increases were concentrated among families with children, and present some evidence that this reflected increased spending on housing (which may have reduced over-crowding), rather than a wider increase in rental prices.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121593051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Beach communities respond to storm risks through shoreline stabilization policies and often rebuild eroding beaches with sand dredged from offshore locations and inlets. Investments in natural capital through beach nourishment are, at least partly, capitalized in coastal property values. We combine data on housing sales between 2008 and 2014 in Dare County, North Carolina with geo-spatial information on the timing and location of the first beach nourishment in the town of Nags Head to estimate the perceived risk-reduction effect, using Hurricane Sandy as a natural experiment. We find that the effect is heterogeneous both within and across nourished and unnourished regions. Triple difference estimates reveal that investment in nourishment results in a price premium of 11.7% to 16.5% for oceanfront homes located in a nourished beach. Converting the average treatment effect of 13.4% from our preferred model to aggregate benefits capitalized by oceanfront homes in Nags Head suggests that the value of beach nourishment exceeds $16 million.
{"title":"Shoreline Defense Against Climate Change and Capitalized Impact of Beach Nourishment","authors":"Y. Qiu, S. Gopalakrishnan","doi":"10.2139/ssrn.3117979","DOIUrl":"https://doi.org/10.2139/ssrn.3117979","url":null,"abstract":"Beach communities respond to storm risks through shoreline stabilization policies and often rebuild eroding beaches with sand dredged from offshore locations and inlets. Investments in natural capital through beach nourishment are, at least partly, capitalized in coastal property values. We combine data on housing sales between 2008 and 2014 in Dare County, North Carolina with geo-spatial information on the timing and location of the first beach nourishment in the town of Nags Head to estimate the perceived risk-reduction effect, using Hurricane Sandy as a natural experiment. We find that the effect is heterogeneous both within and across nourished and unnourished regions. Triple difference estimates reveal that investment in nourishment results in a price premium of 11.7% to 16.5% for oceanfront homes located in a nourished beach. Converting the average treatment effect of 13.4% from our preferred model to aggregate benefits capitalized by oceanfront homes in Nags Head suggests that the value of beach nourishment exceeds $16 million.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133426395","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the Footloose Entrepreneur model with a finite number of equidistant regions, focusing on the analysis of stability of three types of long-run equilibria: agglomeration, dispersion and partial dispersion. We find that, as the number of regions increases, there is more tendency for agglomeration and less tendency for dispersion. In the limit, as the number of regions tends to infinity, agglomeration becomes the unique stable equilibrium. Our conclusions are robust to any dependence of the total number of entrepreneurs and unskilled workers on the number of regions. Numerical evidence suggests that industry cannot disperse evenly among two regions when other regions have no industry. Finally, we introduce region heterogeneity in unskilled labour and obtain a more general condition for stability of agglomeration. We then study the impacts of regional asymmetries and find that having more unskilled workers in the core (or less in the periphery) increases the tendency for agglomeration.
{"title":"The Footloose Entrepreneur Model with a Finite Number of Equidistant Regions","authors":"José M. Gaspar, S. Castro, João Correia-da-Silva","doi":"10.2139/ssrn.3119063","DOIUrl":"https://doi.org/10.2139/ssrn.3119063","url":null,"abstract":"We study the Footloose Entrepreneur model with a finite number of equidistant regions, focusing on the analysis of stability of three types of long-run equilibria: agglomeration, dispersion and partial dispersion. We find that, as the number of regions increases, there is more tendency for agglomeration and less tendency for dispersion. In the limit, as the number of regions tends to infinity, agglomeration becomes the unique stable equilibrium. Our conclusions are robust to any dependence of the total number of entrepreneurs and unskilled workers on the number of regions. Numerical evidence suggests that industry cannot disperse evenly among two regions when other regions have no industry. Finally, we introduce region heterogeneity in unskilled labour and obtain a more general condition for stability of agglomeration. We then study the impacts of regional asymmetries and find that having more unskilled workers in the core (or less in the periphery) increases the tendency for agglomeration.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122250600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Drawing on economic transaction cost theory, this paper explores how blockchain and distributed ledger technology could shift the smart city agenda by altering transaction costs with implications for the coordination of infrastructures and resources. Like the smart city the crypto city utilizes data informatics, but can be coordinated through distributed rather than centralized systems. The data infrastructure of the crypto city can enable civil society to run local public goods and services, and facilitate economic and social entrepreneurship.
{"title":"Blockchains and the Crypto-City","authors":"J. Potts, E. Rennie, Jake Goldenfein","doi":"10.2139/ssrn.2982885","DOIUrl":"https://doi.org/10.2139/ssrn.2982885","url":null,"abstract":"Drawing on economic transaction cost theory, this paper explores how blockchain and distributed ledger technology could shift the smart city agenda by altering transaction costs with implications for the coordination of infrastructures and resources. Like the smart city the crypto city utilizes data informatics, but can be coordinated through distributed rather than centralized systems. The data infrastructure of the crypto city can enable civil society to run local public goods and services, and facilitate economic and social entrepreneurship.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131414902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper calculates the willingness to pay (WTP) of residents for undergrounding utility lines with the hedonic approach. Land price functions are estimated for seven regions in Japan. Estimation is conducted for densely inhabited districts (DIDs), non-DIDs, and the whole region. The estimates confirm positive WTP of a household facing a road with undergrounded utility lines (approximately 5,000 to 9,000 JPY per month) and a household in the neighborhood not facing the road (approximately 3,500 to 7,000 JPY per month), depending on the region and the specified functional form. Further, results indicate that the order of WTP in DID and non-DID differs across regions.
{"title":"Estimating the Willingness to Pay for Undergrounding Utility Lines in Japan with the Hedonic Approach","authors":"Tatsuhito Kono, Kousuke Sega, H. Seya","doi":"10.2139/ssrn.3039997","DOIUrl":"https://doi.org/10.2139/ssrn.3039997","url":null,"abstract":"This paper calculates the willingness to pay (WTP) of residents for undergrounding utility lines with the hedonic approach. Land price functions are estimated for seven regions in Japan. Estimation is conducted for densely inhabited districts (DIDs), non-DIDs, and the whole region. The estimates confirm positive WTP of a household facing a road with undergrounded utility lines (approximately 5,000 to 9,000 JPY per month) and a household in the neighborhood not facing the road (approximately 3,500 to 7,000 JPY per month), depending on the region and the specified functional form. Further, results indicate that the order of WTP in DID and non-DID differs across regions.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122469744","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper proposes a simple and innovative methodology for measuring the incidence of gambling expenditure in countries for which household survey data is unavailable or unreliable. A first application of this methodology is presented by merging data on the geographical location of gambling outlets, together with residents’ socio-economic and demographic characteristics around that location across all of the 1,600 statistical areas in Israel. It was found that the Israel National Lottery (Lotto) and Toto tend to set up significantly more sales points in disadvantaged neighborhoods after controlling for standard list of factors such as population size and composition. The Suit Index is calculated based on the spatial estimation results and yields a measure of -0.42, which implies that the implicit tax associated with gambling is highly regressive.
{"title":"Using Spatial Distribution of Outlets to Estimate Gambling Incidence","authors":"M. Dahan","doi":"10.2139/ssrn.3023786","DOIUrl":"https://doi.org/10.2139/ssrn.3023786","url":null,"abstract":"The paper proposes a simple and innovative methodology for measuring the incidence of gambling expenditure in countries for which household survey data is unavailable or unreliable. A first application of this methodology is presented by merging data on the geographical location of gambling outlets, together with residents’ socio-economic and demographic characteristics around that location across all of the 1,600 statistical areas in Israel. It was found that the Israel National Lottery (Lotto) and Toto tend to set up significantly more sales points in disadvantaged neighborhoods after controlling for standard list of factors such as population size and composition. The Suit Index is calculated based on the spatial estimation results and yields a measure of -0.42, which implies that the implicit tax associated with gambling is highly regressive.","PeriodicalId":410291,"journal":{"name":"ERN: Analytical Models (Topic)","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134437941","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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