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Thesis (M.Econ)--University of Hong Kong, 2003. / Includes bibliographical references (leaves 26). Also available in print.

This thesis analyzes railway demand and its determinants in the context of regional railway passenger transport in the Czech Republic and Prague suburban railway system. Special attention is devoted to examining the impact of new trains on the demand for the selected route of Jizerskohorské Railway. In particular models, I utilize as estimation procedure and difference-in-differences estimator. Panel data analysis found, in line with other published studies, short-run inelastic nature of demand. In order to increase revenue to railway operator, one must distinguish between a group of dependent and discretionary riders whose elasticity is different. Effect of buying new trains can be substantial, especially on less frequented routes with a greater proportion of private car holders.

The housing market is one of the most important markets for many economic agents. Large differences in the local market across Sweden suggest regional heterogeneity, however. This study aims to answer if the price and income elasticities of demand for small houses vary between different types of Swedish municipalities. This answer is explored in the light of the central place theory and location theory to see if they follow a hierarchal structure across space. To test this empirically, the 290 municipalities were grouped based on the Swedish Association of Local Authority and Regions’ definitions and tested group-wise using a log-log fixed-effect average hedonic price model using data for 2013-2020. The main findings indicate some differences in the estimates of price and income elasticities between different types of municipalities, but mixing results whether they follow a hierarchal relationship. The conclusions changes depending on which scale one measure, which indicate how local the housing market is.

Master of Agribusiness / Department of Agricultural Economics / John Crespi / Hybrid seed corn pricing has increased significantly over the past six or seven years and continues to be a topic of conversation amongst farmers. This issue is also an area of concern for Monsanto. The hybrid corn pricing team at Monsanto is concerned that they price current products at a point to maximize profits while continuing to grow market share. The key is to price at a point that captures all the value of the differentiated products Monsanto offers. The objective for this study is to estimate a demand model for the hybrid seed corn industry. The demand model will allow us to look at many different aspects of the hybrid seed corn industry and also evaluate the own-price and cross-price elasticities. The own-price elasticity is especially important because it will be used to determine if current pricing is revenue or profit-maximizing. A hedonic pricing model was also estimated in this study to complement the demand model. It is important for Monsanto to understand what attributes or traits are significant in pricing and demand.

As many variable pricing projects are still in the implementation stage, long-run driver responses to the variable tolls are largely unknown. This research examined the long-run changes in driver behavior in an existing variable pricing project in Lee County, Florida. Using empirical evidence, it was found that over time the price elasticities of demand on the Lee County toll bridges have decreased from -0.42 to - 0.11 (Midpoint Memorial Bridge) and from -0.31 to -0.06 (Cape Coral Bridge) during the early morning discount period. The elasticities have decreased, but to a lesser extent, during the late morning and early afternoon discount periods. A discount period volume spreading ratio was also developed to analyze these changes. The results from this analysis confirmed the elasticity results. In addition to the empirical analysis of travel patterns discussed above, a telephone survey of drivers was conducted. The survey results indicated that certain driver characteristics such as higher frequency of trips, commute trip purpose, full-time employment status, more people in the household, higher education, and age between 25-34 years, were all indicators that the participant may increase his or her variable pricing usage over time. Other characteristics, including being retired and having a household income less than $16,000, were indicators that the driver may not increase variable pricing participation. Binary logit and semiparametric models were also developed to examine socio-economic and commute characteristics that may influence a driver increasing his or her participation in a variable pricing program. The results from these two variable toll bridges in Lee County indicated a decrease in variable toll price elasticity over time. However, these results may not be typical for variable pricing projects. Factors such as alternative routes, different traveler demographics, traffic congestion levels, and size of the toll discount may influence the results obtained from other variable pricing projects. However, the methodology developed in this research can be applied to other projects in order to determine those toll price elasticities of demand.

This thesis analyzes regulation, prescription and prohibition of drugs in condition of their mutual substitution with other addictive substances in the Czech Republic; thesis investigates prices' and cross-prices' elasticities of substances and their markets. Comparison is made between regulated legal markets of alcoholic beverages and cigarettes, non-prohibitively regulated markets of pharmaceuticals and prohibited markets of illegal drugs. The thesis concludes that the demand for drugs is not price elastic. The demand for drugs is price inelastic but not perfectly price inelastic, as can be deduced based on the concept of A Theory of Rational Addiction developed by Gary S. Becker. The price of drugs, therefore, to some extent affects consumption. This opens the room to influence demand through pricing mechanism. The thesis also verifies The Theory of Economic Regulation developed by George J. Stigler and confirms that due to some substitution relationships between addictive substances it is possible speculate about the interests of producers of alcoholic beverages, cigarettes and pharmaceuticals for prohibition of drugs. Interests of producers of alcoholic beverages and cigarettes confirm their mutually complementary linkages.

Denna uppsats behandlar de relativa prisökningar som skett för snusprodukter i Sverige och vill undersöka om dessa har lett till minskad efterfrågan som nationalekonomisk teori föreslår. Utifrån teori och tidigare forskning har en efterfrågemodell konstruerats för att möjliggöra en statistik undersökning. Variablerna som ingår i modellen är inhämtade från Statistiska centralbyråns prisenhet och Swedish Match AB och inkluderar prisuppgifter för varor, försäljningsstatistik och disponibel inkomst under tidsperioden 1999-2009. Resultaten från regressionsanalyser för tidsseriedata visar på att de ökade priserna har haft en negativ inverkan på efterfrågan på snus under den gällande tidsperioden, men att denna effekt varit förhållandevis liten.

In this study, we apply "the equilibrium price" to investigate the efficiency and the elasticity of Taiwan securities trading market. The "the equilibrium price" of each transaction are used to represent the true price of the security. The intra-daily tick-by-tick data of the Taiwan security market is used to obtain the equilibrium prices. Empirical transaction of the two companies Uni-President Enterprises Corporation and Formosa Plastics Corporation are studied. Time-series models of the equilibrium price and the transaction price are established. The time lengths returning to the equilibrium status are also studied, called the efficiency time. Based on the results, we discuss the efficiency of the two stocks. In order to understand the impact of the efficiency time, linear regression models of the efficiency time are built. Furthermore, the variance ratios of the two stocks are also investigated to study their market efficiency. Finally, the elasticity of demand and the elasticity of supply are studied and their Markov chain models are established. The results show that the two companies stay more time in the inelastic states.

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