Person: Vásquez Lavín, Felipe
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Vásquez Lavín
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Felipe
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Publication Discrete-continuous models of residential energy demand:(2024) Hanemann, Michael; Labandeira, Xavier; Labeaga, José M.; Vásquez Lavín, FelipeThis paper reviews forty years of research applying econometric models of discrete-continuous choice to analyze residential demand for energy. The review is primarily from the perspective of economic theory. We examine how well the utility-theoretic models developed in the literature match data that is commonly available on residential energy use, and we highlight the modeling challenges that have arisen through efforts to match theory with data. The literature contains two different formalizations of a corner solution. The first, by Dubin and McFadden (1984) and Hanemann (1984), models an extreme corner solution, in which only one of the discrete choice alternatives is chosen. While those papers share similarities, they also have some differences which have not been noticed or exposited in the literature. Subsequently, a formulation first implemented by Wales and Woodland (1983) and extended by Kim et al. (2002) and Bhat (2008) models a general corner solution, where several but not all of the discrete choice alternatives are chosen. Seventeen papers have employed one or another of these models to analyze residential demand for fuels and/or energy end uses in a variety of countries. We review issues that arose in these applications and identify some alternative model formulations that can be used in future work on residential energy demand.Publication Understanding the role of institutions and economic context on entrepreneurial value creation choice(2023) Díaz Tautiva, Julián Andrés; Salvaj, Erica; Vásquez Lavín, Felipe; Ponce, Roberto D.Research background: The observable discrepancies in entrepreneurship activity across countries have motivated both researchers and policymakers to comprehend the sources of these variations. Certain scholars have suggested that the answer to this empirical puzzle lies in the macrolevel processes that influence entrepreneurial endeavours. Purpose of the article: As the understanding of macrolevel processes that shape entrepreneurial behaviour is limited, this research aims to answer how institutions and the economic context influence entrepreneurial value creation choices (i.e., for-profit, non-profit, and mixed). Methods: Using a cross-country sample of 7,891 entrepreneurs in 58 countries, we employ a multilevel ordered probit to evaluate a novel conceptual framework. Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices. Findings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. Our findings have implications for public policy development.Publication Estimating residential water demand under systematic shifts between Uniform Price (UP) and Increasing BlockTariffs (IBT)(2024) Chovar Vera, A. M.; Vásquez Lavín, Felipe; Ponce, Roberto D.We evaluate whether changing from a uniform price (UP) to an increasing block tariff (IBT) changes people's behavior. We exploit a unique setting in which the price scheme moves back and forth yearly from UP to IBT. We discuss the effectiveness of IBT in reducing summer consumption. This issue is relevant to many countries and policymakers interested in designing tariff structures. There is no evidence of how the same consumer may react to systematically switching from one tariff structure to another yearly. We estimate the residential water demand and its price elasticity using a generalized least squared random effect model for the UP and the discrete/continuous choice model for the IBT. In addition, we split the sample between low and highconsumption groups. For the low consumption group unaffected by the tariff change, the elasticity in the nonsummer months is higher (more elastic) than in the summer. Consumers in this group reduce their elasticity from nonsummer to summer months (- 0.299 vs. - 0.071, respectively) and increase their consumption by 13%. The high consumption group increased its summer consumption, but only by 8.7%, and contrary to the first group, its elasticity increased significantly (from - 0.299 to - 0.568). The high‐consumption group is indeed affected by the change in tariff. From a policy perspective, this implies that the IBT structure is relevant. However, if the policy seeks to promote conservation, it needs to be adjusted to a lower decile of the water consumption distribution to affect a more significant portion of the population.Publication Female underperformance hypothesis revisited: methodological review and empirical testing.(2023) Ibañez, María José; Vásquez Lavín, Felipe; Ponce, Roberto D.Comparison between the performance of female and male-managed firms has long been a subject of research interest. Although the argument is that firms run by women have lower performance than those run by men, there is no agreement on the effects of managerial gender on companies’ financial outcomes. This study conducts a methodological review of quantitative research on the relationship between female business leadership and firm performance from 2010 to 2020. This review identifies the most frequently used dependent and explanatory variables and econometric models in the literature. Most studies have not considered endogeneity bias in their model specifications; therefore, these results could be biased and unreliable. We select empirical models to test the female underperformance hypothesis using a sample of Chilean firms. Our findings suggest that managers’ gender does not significantly affect business performance when endogeneity is addressed. Our methodological review reveals a significant gap in the research on female managers and firm performance in the Latin American context, and the empirical test provides new evidence in this vein.Publication Evaluando las condiciones de racionalidad y plausibilidad en la valoración de conservar la biodiversidad de un país megabiodiverso: El caso del Manu en Perú(2023) Dávila, José; Vásquez Lavín, Felipe; Orihuela, Carlos Enrique; Ponce, Roberto D.; Lavado-Solis, Karol; Paredes-Vilca, Oscar; Mogollón Ñañez, Raymundo; Díaz, SabrinaSegún la NOAA, los resultados de una valoración económica son aplicables como política pública si cumplen dos condiciones: racionalidad y plausibilidad. En el presente estudio, se realiza la valoración económica de conservar la biodiversidad del Parque Nacional del Manu en Perú (país megabiodiverso), a partir de tres representaciones: especies, hábitat y funcionalidad. Se identificó la presencia de sensibilidad al alcance en la mayor parte de atributos empleados. Al incluir características socioeconómicas se identificó que el género y los niveles salariales afectan las preferencias. Los resultados muestran que las especies de flora amenazada y la funcionalidad cumplen con ambas condiciones.Publication Use of medical services in Chile: How sensitive are the results to different econometric models?(2022) Chovar Vera, Alejandra; Vásquez Lavín, Felipe; Paraje Pisoni, Guillermo; Barrientos Cifuentes, ManuelBackground We compared different econometric specifications to model the use of medical services in Chile, focussing on visits to general practitioners and specialist physicians. Methods The evaluated models are the Poisson, Negative Binomial, Zero Inflated Poisson and Negative Binomial, two-step Hurdle model, sample-selection Poisson, and Latent Class model. These models were estimated using Chilean data for the years 2009 and 2015, separated by gender. Results Unlike previous literature that supported the use of the latent class model, our results show that the latent class model is not always the model with the best goodness of fit. Furthermore, the model with the best fit is not necessarily the model with the best predictive power. For instance, depending on the year and medical services, either the latent class model or the sample-selection Poisson model performs better than the other models. The results also show that the selection of the econometric model may have implications for the estimated influence that variables such as age, income, or affiliation to the public versus private sector have on the use of medical services. Conclusion Using Chilean data, we have tested that the selection of an econometric method to model the use of medical services is not a problem with a unique answer. We recommend performing a sensitivity analysis of goodness of fit and predictive power between gender, healthcare services, or different years of datasets in future applications to be sure about the best model specification in each context.Publication Understanding the role of personal experiences and contextual variables in shaping risk reduction preferences(2023) Barrientos, Manuel; Vásquez Lavín, Felipe; Rosales, Constanza; Bratti , LunaThis article explores how preferences for risk reduction during the COVID-19 pandemic are influenced by personal experiences and contextual variables such as having a close friend or relative who has been infected by the virus (closeness), the severity of the illness (severity), people’s own perceptions of being in a risky group (risk group), change in employment status due to the pandemic (employment situation), and vaccination status (vaccination status and altruistic vaccination). We conducted a choice experiment (CE) in Chile, Colombia, and Costa Rica. The attributes of the experiment were risk reduction, latency, and cost. Then, we estimated a mixed logit model to capture preference heterogeneity across the countries. The attributes presented in the CE were statistically significant, with the expected sign in each country. The variables closeness and employment situation presented homogeneous behavior in each country; however, severity, risk group, and vaccination status showed mixed results. We found that preferences were more heterogeneous for the attributes of the CE than for the personal experiences and contextual variables. Understanding the impact of these variables is essential for generating more effective risk reduction policies. For instance, methodologies such as the value of statistical life base their calculations on society’s valuation of risk reduction. We provide evidence that the preferences for risk reduction vary due to the everyday situations that individuals face in the context of the pandemic. The latter may cause distortions in the values used to evaluate policies aimed at mitigating the outbreak.Publication Firm heterogeneity and innovation strategy decisions(2024) Guzmán Cofre, Cristian; Vásquez Lavín, Felipe; Sanchez Henriquez, FernandoResearch on innovation strategy has focused on dichotomic (yes or no) options and the determinants of technological (product and process) innovations. This paper includes a variety of innovation strategies to extend the Crepon–Duguet–Mairesse model suggested by Cr´epon et al. (1998). We extend the study of innovation strategy to nontechnological innovations (organizational and marketing), encompassing all possible combinations of innovative alternatives for the firm (16 strategies). Furthermore, we use a panel of four waves (2009–2010, 2011–2012, 2013–2014, and 2015–2016) of the Chilean innovation survey, which allows us to consider endogeneity using a fixed-effect multinomial logit model. Our results show the relevance of R&D spending per employee in all innovation strategies. Skilled employees positively affect organizational innovation strategies, and medium and large firms are more likely to choose strategies involving process and organizational innovation. The choice of innovation strategy is relevant to a firm’s productivity. The coefficient increases monotonically from simple to semi-complex to complex strategies, all of which are positive and statistically significant. This study’s results seem more plausible than those found in previous literature.Publication Evaluación del impacto en la productividad de cultivos de café y cacao con sistemas agroforestales en los departamentos de Amazonas y San Martín, Perú(2024) Guzmán Castillo, Wagner; Orihuela, Carlos Enrique; Vásquez Lavín, Felipe; Arévalo López, Luis AlbertoNo existe claridad sobre el impacto en la productividad de diversos cultivos agrícolas con Sistemas Agroforestales (SAF). El presente estudio tuvo como objetivo cuantificar el cambio en la productividad de los cultivos café y cacao en fincas con y sin SAF en la Amazonia Peruana. Para ello, empleamos la metodología del emparejamiento de puntaje de propensión. Los resultados muestran un incremento de la productividad para cultivos con cacao, pero una disminución en cultivos con café. Concluimos que amerita generar información y estudios para proponer SAF compatibles con mejoras en productividad a través de acciones conjuntas entre actores.Publication The economics impacts of long-run droughts: Challenges, gaps, and way forward(2023) Fernández , Francisco J.; Vásquez Lavín, Felipe; Ponce, Roberto D.; Garreaud , René; Hernández, Francisco; Link , Oscar; Zambrano, Francisco; Hanemann, MichaelQuantifying drought's economic impacts has been key for decision-making to build future strategies and improve the development and implementation of proactive plans. However, climate change is changing drought frequency, intensity, and durability. These changes imply modifications of their economic impact, as longer droughts result in greater cumulative economic losses for water users. Though the longer the drought lasts, other factors also play a crucial role in its economic outcomes, such as Infrastructure capacity (IC), the Amount of Water in Storage (AWS) in reservoirs and aquifers, and short- and long-term responses to it. This study proposes and applies an analytical framework for the economic assessment of long-run droughts, assessing and explaining central Chile megadrought economic effects through the factors that begin to influence the economic impact level in this setting. High levels of both IC and the AWS, as well as short- and long-term responses of water users, allow for high resilience to long-run droughts, tolerating extraordinary water disruption in its society with relatively low total economic impacts. Despite this adaptability, long-term droughts bring places to a water-critical threshold where long-term adaptation strategies may be less flexible than short-term strategies, escalating the adverse economic effects. This fact suggests that the economic evaluation of megadrought needs to focus on future tipping points (substantial water scarcity). The tipping point depends on the IC, how water users manage the AWS, and adaptation strategies. Establishing the tipping point should be a priority for future interdisciplinary research.