Ask Prices, Offers, and Time to Sale in an Online Exchange

By examining an online computer exchange, we find that sellers who place higher nonbinding ask prices have higher outstanding offers and remain on the exchange longer, suggesting a willingness to hold out for higher offers. Additionally, higher ask prices deter buyers from making offers. The results are stronger in thinner market segments, suggesting that gains from waiting for a high price are greater when buyers' tastes are idiosyncratic. These relationships are consistent with models in which buyers engage in costly search and suggest that online exchanges may not eliminate the frictions related to bilateral transactions.     

Evaluation of the Food and Agriculture Sector Criticality Assessment Tool (FASCAT) and the Collected Data

To protect and secure food resources for the United States, it is crucial to have a method to compare food systems’ criticality. In 2007, the U.S. government funded development of the Food and Agriculture Sector Criticality Assessment Tool (FASCAT) to determine which food and agriculture systems were most critical to the nation. FASCAT was developed in a collaborative process involving government officials and food industry subject matter experts (SMEs). After development, data were collected using FASCAT to quantify threats, vulnerabilities, consequences, and the impacts on the United States from failure of evaluated food and agriculture systems. To examine FASCAT's utility, linear regression models were used to determine: (1) which groups of questions posed in FASCAT were better predictors of cumulative criticality scores; (2) whether the items included in FASCAT's criticality method or the smaller subset of FASCAT items included in DHS's risk analysis method predicted similar criticality scores. Akaike's information criterion was used to determine which regression models best described criticality, and a mixed linear model was used to shrink estimates of criticality for individual food and agriculture systems. The results indicated that: (1) some of the questions used in FASCAT strongly predicted food or agriculture system criticality; (2) the FASCAT criticality formula was a stronger predictor of criticality compared to the DHS risk formula; (3) the cumulative criticality formula predicted criticality more strongly than weighted criticality formula; and (4) the mixed linear regression model did not change the rank‐order of food and agriculture system criticality to a large degree.     

Determinants of contraceptive switching behavior in rural Sri Lanka

This study examines the influence of a selected set of determinants of contraceptive method switching in rural Sri Lanka. Of interest is the question of how change in contraceptive practice at the individual level can account for patterns observed at the aggregate level. Based on calendar data on contraceptive use over a 3-year period, collected for more than 3,000 married women in a 1986 survey, the multivariate analysis shows that women who attain all or a significant proportion of their desired fertility tend to switch to more effective methods. Women who experience method failure tend to switch methods, usually to a type that is more effective. The woman's background determinants of age and education have small but significant effects on method switching, whereas the effect of household economic well-being is not significant. There is strong indication that rural couples are practicing contraception in a nonrandom fashion, switching methods in accordance with changes in their fertility motivations and contraceptive experience.