A Comparative Analysis of Alternative Univariate Time Series Models in Forecasting Turkish Inflation

Çatık, Abdurrahman Nazif; Karaçuka, Mehmet

doi:10.3846/16111699.2011.620135

“…Evolution of the industry efficiency index over time 20 I also find that an increase of 1% of the observed quality index leads to an increase of the consumer welfare by 2.31%. 21 The argument of asset reallocation from the least efficient to the most efficient firm can also be considered as an argument in favor of concentration during a merger case.…”

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confidence: 88%

“…19 Moreover, this increase in the industry efficiency led to an increase in the consumer welfare during the period 1980-2004. Using the estimates of 20 This means that the increase in efficiency, due to the reallocation of assets from the least efficient to the most efficient firms, had a larger impact on the consumer welfare than a price decrease due to economies of density. This can be essential for merger analysis.…”

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confidence: 99%

Demand Estimation with Selection Bias: A Dynamic Game Approach with an Application to the US Railroad Industry

Coublucq

2011

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The working papers published in the Series constitute work in progress circulated to stimulate discussion and critical comments. Views expressed represent exclusively the authors' own opinions and do not necessarily reflect those of the editor. Terms of use: Documents in ABSTRACTThis paper is motivated by the US freight railroad industry, which is characterized by a major restructuring over the last 30 years. In particular, the number of active firms decreased from 26 in 1978 to seven in 2006 due to several takeover waves. The empirical focus concerns the estimation of a structural demand model for the US railroad industry. Then, the demand estimates are used to compute the evolution of the mark-ups, the quality of the freight services provided, and the consumer surplus. The restructuring of this industry involves significant exit and takeovers. This implies that the data is characterized by an attrition issue, which generates a selection problem. A focus is to provide an estimation algorithm which takes explicitly into account this attrition issue. I find that the algorithm produces more plausible estimates of demand coefficients compared to standard estimation procedures. Moreover, using the model, I recover the evolution of the marginal costs, mark-ups, and the consumer surplus over time. I find that the takeover waves have led to efficiency gains by decreasing the marginal costs, and this was translated into lower prices and an increase in the consumer surplus. Finally, the takeovers have led to a reallocation of assets from the less efficient firms to the most efficient firms, which improved the quality of the freight services provided.

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“…The level of γ follows from comparing (20) and (16). The statement regarding the change in the multiplier when the number of firms changes follows from the derivative of γ B with respect to n.…”

Section: Symmetric Firmsmentioning

confidence: 99%

Optimal Damages Multipliers in Oligopolistic Markets

Baumann¹,

Friehe²

2015

JITE

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The working papers published in the Series constitute work in progress circulated to stimulate discussion and critical comments. Views expressed represent exclusively the authors' own opinions and do not necessarily reflect those of the editor. Terms of use: Documents in Optimal Damages Multipliers in Oligopolistic MarketsFlorian Baumann * Tim Friehe † December 2012Abstract This paper establishes that tort damages multipliers higher than one can be an instrument to induce imperfectly competitive producers to invest in product safety at socially optimal levels. In their selection of product safety levels, producers seek to maximize profits, neglecting the fact that higher investment in product safety increases consumer welfare; the discrepancy between private and social safety incentives can be remedied by setting damages multipliers to values greater than one. We show that the optimal damages multiplier depends on the characteristics of competition, such as the number of firms, the degree of substitutability/complementarity when products are heterogeneous, firms' cost structures, and the mode of competition.

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“…This valuation is uniformly distributed on [0, 1] (and independent of users' platform preferences). 20 Each user gets 20 Note that we assume that users' platform adoption decisions and the usage decisions a new draw from δ for each software product. A user can choose between buying the software, copying it illegally, and not buying any software at all.…”

Section: Examplementioning

confidence: 99%

Piracy in a two-sided software market

Rasch

¹

,

Wenzel

²

2013

Journal of Economic Behavior & Organization

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractThis paper studies the impact of software piracy in a two-sidedmarket setting. Software platforms attract developers and users to maximize their profits. The equilibrium price structure is affected by piracy: license fees to developers are higher with more software protection but the impact on user prices is ambiguous. A conflict between platforms and software developers over software protection may arise: whereas one side benefits from better protection, the other party loses out. Under platform compatibility, this conflict is no longer present.

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A Comparative Analysis of Alternative Univariate Time Series Models in Forecasting Turkish Inflation

Cited by 35 publications

References 21 publications

Demand Estimation with Selection Bias: A Dynamic Game Approach with an Application to the US Railroad Industry

Demand Estimation with Selection Bias: A Dynamic Game Approach with an Application to the US Railroad Industry

Optimal Damages Multipliers in Oligopolistic Markets

Piracy in a two-sided software market

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