Оценка функции спроса на театральные постановки: эмпирический анализ
Government-subsidized theatres in Russia aim to increase both revenue and number of tickets sold. Achievement of such a goal is closely connected with study of theatre tickets demand function focusing on the estimation of price elasticity of demand. Previous papers studied price elasticity of demand for theatrical performances provide controversial results. Estimates of price elasticity varies with countries, theatres, segments of theatre audience and even with level of data aggregation. Ticket sales and price data aggregation at the national level or theatre level typically does not allow to control for the differences in produced cultural goods quality. Incorrect control or ignoring of a theatre, performances and seats quality leads to a problem of omitted variables and bias in price elasticity estimates. In this paper we employ disaggregated ticket sales data for four seasons of Perm opera and ballet theatre and estimate the price effect on the theatrical demand for various performance types and seats in the hall. We use censored quantile regression to estimate the parameters of theatre demand function. We reveal the weak elasticity of demand for Perm opera and ballet theatre. We also show that ignoring the limited capacity of the theatre hall, characteristics of performances and seats quality leads to biased estimates of demand function parameters.
The paper presents the structural model of decision-making process on the residential mortgage market. We empirically estimates key drivers of mortgage borrowing, underwriting, and default process by jointly using market-level monthly data and loan-level data from regional branch of Agency of Home Mortgage Lending (AHML). The multistep estimation procedure allows correcting for sample selection bias and endogeneity and provides consistent parameter estimates. Obtained results shows that risk preferences are changing during the time and AHML borrowers are relatively high risky.
Projects and reforms targeting infrastructure services can affect consumer welfare through changes in the price, coverage, or quality of the services provided. The benefits of improved service quality—while significant—are often overlooked because they are difficult to quantify. This article reviews methods of evaluating the welfare implications of changes in the quality of infrastructure services within the broader theoretical perspective of welfare measurement. The study outlines the theoretical assumptions and data requirements involved, illustrating each method with examples that highlight common methodological features and differences. The article also presents the theoretical underpinnings and potential applications of a new approach to analysing the effects of interruptions in the supply of infrastructure services on household welfare.
This conference proceeding includes selected full papers from the 11th EBES Conference – Ekaterinburg. We have accepted papers among resubmitted full papers after the conference ended. In this proceeding you will find a snapshot of topics that are presented in the conference. As expected, our conference has been an intellectual hub for academic discussion for our colleagues in the areas of economics, finance, and business. Participants found an excellent opportunity for presenting new research, exchanging information and discussing current issues. We believe that this conference proceeding and our future conferences will improve further the development of knowledge in our fields.
This paper deals with the problem of language of Theatre of Cruelty. Theatre of Cruelty is a theatrical project and metaphysical revolution proposed by Antonin Artaud in 1929-1936. It was not merely a suggestion of a new theater, but an attempt to bring back the global meaning to the world lost in the process of separation from culture. Artaud is trying to build a new language as a way of changing the world within the theater. This article discusses the semantics and syntax of Theatre of Cruelty, as an independent language, and presents the analysis of the semantics of the language through the analysis proposed by Gilles Deleuze.
This paper models household demand for childcare and mothers' labour force participation in Romania. The model estimates the effects of the price of childcare, mothers' wages, and household characteristics on household behaviour with respect to childcare and maternal employment. We find that both the maternal decision to become employed and the decision to use out-of-home care are sensitive to the price of childcare. A decrease in the price of care can increase the number of working mothers and thus can reduce poverty in some households. We also find that the potential market wage of the mother has a significant positive effect on the decision to purchase market care and on the decision to engage in paid employment. The level of household non-wage income has little effect on maternal employment and on the demand for childcare.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.