Statistical models can characterize relationships among aspects of economic behavior, and comprehensive econometric models are often used to guide public policy decisions. Several RAND researchers are skilled in the use of econometric models and use them to help explain how economic and political decisions may affect, for instance, military purchasing, agricultural production, and vehicle ownership patterns.
REPORT
Together this and two companion monographs demonstrate a method, model, and simulation that the U.S. Army can use to analyze and manage portfolios at any stage of the research and development process. This monograph expands and applies RAND's portfolio analysis and management (PortMan) method to address the problem of selecting Army engineering and manufacturing development projects in order to develop affordable systems.
JOURNAL ARTICLE
This study assesses, from a Swedish societal perspective, the cost effectiveness of interferon β-1b (IFNB-1b) after an initial clinical event suggestive of multiple sclerosis (MS) (ie, early treatment) compared with treatment after onset of clinically definite MS (CDMS) (ie, delayed treatment).
JOURNAL ARTICLE
Previous empirical literature has found a sharp decline in consumption during the first years of retirement, implying that individuals do not save enough for their retirement. This phenomenon is called the retirement consumption puzzle.
JOURNAL ARTICLE
The purpose of this paper is to study identification and estimation of causal effects in experiments with multiple sources of noncompliance.
REPORT
One tool the Air Force is using to improve its logistical support to the warfighter is purchasing and supply-chain management (PSCM). Is PSCM doing what it was intended to do? If so, how well? Are other factors influencing its intended outcomes? The authors have developed an econometric model that helps examine all these things. While data availability and quality can be a challenge, the model may also be useful in other contexts.
JOURNAL ARTICLE
This paper compares multinomial logit, ordered logit, and ordered probit car ownership models through a number of formal evaluation measures and empirical analysis of three data sets, with results.
JOURNAL ARTICLE
It is shown how the usual two-step estimator for the standard sample selection model can be seen as a method of moments estimator. Furthermore, it is shown that from the MM formulation, it is straightforward to derive various specification tests, in particular tests for selection bias, equivalence with the censored regression model, normality, homoskedasticity, and exogeneity.
JOURNAL ARTICLE
The introduction of Medicare Part D has generated interest in the cost of providing drug coverage to the elderly.
JOURNAL ARTICLE
Dans une economie avec contraintes de liquidite, les individus ont plus de difficultes a creer leur entreprise faute d'un financement suffisant de la part des banques.
JOURNAL ARTICLE
Monopolies appear throughout health care markets, as a result of patents, limits to the extent of the market, or the presence of unique inputs and skills. In the health care industry, however, the deadweight costs of monopoly may be small or even absent.
JOURNAL ARTICLE
Findings suggest that the marginal cost of an outpatient ED visit is higher than is generally believed. Hospitals thus need to carefully review how EDs fit within their overall operations and cost structure and may need to pay special attention to policies and procedures that guide the delivery of nonurgent care through the ED.
JOURNAL ARTICLE
Many methods for modeling skewed health care cost and use data have been suggested in the literature.
JOURNAL ARTICLE
This manuscript reviews a collection of recent energy scenarios from a policy and planning perspective and compares these scenarios quantitatively with respect to US energy consumption, energy efficiency, and carbon content of the fuel mix in 2020.
JOURNAL ARTICLE
The paper extends and replicates part of the analysis by Barsky et al.
JOURNAL ARTICLE
Estimates and predictions are not sensitive to the modeling approaches chosen, although the ZINB model out performs the two-part models in terms of out-of-sample prediction.
JOURNAL ARTICLE
This paper overviews an economic approach to modeling drug use, addiction and gateway effects, emphasizing the potential of this method for identifying causal links in consumption.
JOURNAL ARTICLE
Policymakers need to keep in mind that there is not a one-size fits all strategy for discouraging smoking among young people.
JOURNAL ARTICLE
This paper addresses the interplay between health and labor market behavior in the later part of the working life.
JOURNAL ARTICLE
Flat capitation (uniform prospective payments) makes enrolling healthy enrollees profitable to health plans.