W. David Walls

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Recent Publications (2020 onward)

• F. Wei, W. D. Walls and X. Zheng.  "Fuel efficiency, power trading, and emissions leakage from driving electric vehicles: Evidence from Chinese provinces."  Energy Policy, Volume 198, March 2025, 114473.  https://doi.org/10.1016/j.enpol.2024.114473
• F. Wei, W. D. Walls, X. Zheng, and G. Li.  "Evaluating environmental benefits from driving electric vehicles: The case of Shanghai."   Transportation Research Part D: Transport and Environment, Volume 119, 2023, 103749.  https://doi.org/10.1016/j.trd.2023.103749  
• G. Li, W. D. Walls and X. Zheng. "Differential license plate pricing and electric vehicle adoption in Shanghai, China." Transportation Research Part A: Policy & Practice, Volume 172, 2023, 103672.   https://doi.org/10.1016/j.tra.2023.103672
• L. Guo, W. D. Walls and X. Zheng.  "Waste import bans and environmental quality: Evidence from China's electronic waste disposal towns."  Environmental and Resource Economics, 85:65--108, 2023.  https://doi.org/10.1007/s10640-022-00756-0
• W. D. Walls and X. Zheng.  "Fracking and structural shifts in oil supply."  The Energy Journal, 43(3):1--32, 2022.  https://doi.org/10.5547/01956574.43.3.wwal
• W. D. Walls and X. Zheng.  "Environmental regulation and safety outcomes: Evidence from Canadian energy pipelines."  Resource and Energy Economics, 64, May 2021.  https://doi.org/10.1016/j.reseneeco.2020.101215
• A. Hadida, J. Lampel, W. D. Walls, and A. Joshi,.  "Hollywood studio film-making in the age of Netflix: A tale of two institutional logics." Journal of Cultural Economics, 45(2):213--238, June 2021.  Available online at https://doi.org/10.1007/s10824-020-09379-z
• W. D. Walls and J. McKenzie.  "Black swan models for the entertainment industry with an application to the movie business."  Empirical Economics, 59(6):3019--3032, December 2020.  Available online at https://doi.org/10.1007/s00181-019-01753-x
• W. D. Walls and W. Zhang.  "Applied models of heavy tails and skewness in energy prices with an application to electricity price risk." In, S. Goutte and D.K.Nguyen, editors, Handbook of Energy Finance, Chapter 8, pp. 185-213. World Scientific, 2020.  https://doi.org/10.1142/9789813278387_0008
• W. D. Walls and A. During.  "The Presidential Amnesty Programme of 2009 and Nigerian oil production: A disaggregate econometric analysis."  OPEC Energy Review, 44(1):27-42, March 2020.  https://doi.org/10.1111/opec.12168
• W. D. Walls and X. Zheng.. "Pipeline capacity rationing and crude oil price differentials: The case of western Canada."  The Energy Journal, 41(1): 241-258, January 2020.  https://doi.org/10.5547/01956574.41.1.wwal

Most Cited Publications

https://scholar.google.ca/citations?user=sH0CFK0AAAAJ&hl=en

Selected Publications on Entertainment Industry Economics

1. A. De Vany and W. D. Walls.  "Bose-Einstein dynamics and adaptive contracting in the motion-picture industry."  The Economic Journal, November 1996.  Available at https://www.jstor.org/stable/2235197
2. A. De Vany and W. D. Walls.  "The market for motion pictures: Rank, revenue, and survival."  Economic Inquiry, 1997.  Available at http://dx.doi.org/10.1111/j.1465-7295.1997.tb01964.x
3. A. De Vany and W. D. Walls.  "Uncertainty in the movie industry: Does star power reduce the terror of the box office?"  Journal of Cultural Economics, November 1999.  Available at http://dx.doi.org/10.1023/A:1007608125988
4. A. De Vany and W. D. Walls.  " Does Hollywood make too many R-rated movies? Risk, stochastic dominance, and the illusion of expectation."  Journal of Business, 2002.  Available at http://dx.doi.org/10.1086/339890
5. A. De Vany and W. D. Walls.  "Motion picture profit, the stable Paretian hypothesis, and the curse of the superstar."  Journal of Economic Dynamics and Control, March 2004.  Available at  http://dx.doi.org/10.1016/S0165-1889(03)00065-4
6. W. D. Walls.  "Modeling movie success when `nobody knows anything':  Conditional stable-distribution analysis of film returns."  Journal of Cultural Economics, vol. 29, no. 3, August 2005.  Available at http://dx.doi.org/10.1007/s10824-005-1156-5
7. W. D. Walls. "Modeling heavy tails and skewness in film returns."  Applied Financial Economics, vol. 15, November 2005.  Available at http://dx.doi.org/10.1080/0960310050391040
8. A. De Vany and W. D. Walls.  "Estimating the effects of movie piracy on box-office revenue."  Review of Industrial Organization, July 2007.  Available at http://dx.doi.org/10.1007/s11151-007-9141-0
9. W. D. Walls.  "Economics of motion pictures."   In L. Blume and S. Durlauf, editors, The New Palgrave Dictionary of Economics.  Volume 5, second edition, Palgrave Macmillan Ltd., London, pp. 787-791, 2008.  Available at  https://link.springer.com/referenceworkentry/10.1007/978-1-349-58802-2_1139
10. W. D. Walls.  "Cross-country analysis of  movie piracy."  Applied Economics, May 2008.  Available online at http://dx.doi.org/10.1080/13504850600707337
11. W. D. Walls.  "Superstars and heavy tails in recorded entertainment:  Empirical analysis of the market for DVDs."   Journal of Cultural Economics,34(4):261-279, November 2010.  Available online at http://dx.doi.org/10.1007/s10824-010-9125-z
12. W. D. Walls and J. McKenzie.  "The changing role of Hollywood in the global movie market."  Journal of Media Economics, 25(4):198-219, December 2012.  Available online at http://dx.doi.org/10.1080/08997764.2012.729544
13. W. D. Walls.  "Bestsellers and blockbusters: Movies, music, and books."  Chapter 8 in V. Ginsburgh and D. Throsby, editors, Handbook of the Economics of Art and Culture, Volume 2, North-Holland, Amsterdam, pp. 185-214, 2013. Available online at:  https://doi.org/10.1016/B978-0-444-53776-8.00008-8
14. J. McKenzie and W. D. Walls.  "File sharing and film revenues: Estimates of sales displacement at the box office."  The B.E. Journal of Economic Analysis & Policy, 16(1):25-57, January 2016.  Available online at https://doi.org/10.1515/bejeap-2015-0004
15. W. D. Walls and J. McKenzie.  "Black swan models for the entertainment industry with an application to the movie business."  Empirical Economics, 59(6):3019--3032, December 2020.  Available online at https://doi.org/10.1007/s00181-019-01753-x
16. A. Hadida, J. Lampel, W. D. Walls, and A. Joshi,.  "Hollywood studio film-making in the age of Netflix: A tale of two institutional logics." Journal of Cultural Economics, 45(2):213--238, June 2021.  Available online at https://doi.org/10.1007/s10824-020-09379-z 
     

Selected Publications on Energy Economics

1. A. De Vany and W. D. Walls.  "Pipeline access and market integration in the natural gas industry: Evidence from cointegration tests."  The Energy Journal, 1993.  https://www.jstor.org/stable/41322524
2. W. D. Walls.  "A cointegration rank test of market linkages with an application to the US natural gas industry."  Review of Industrial Organization, 1994. http://dx.doi.org/10.1007/BF01035658
3. A. De Vany and W. D. Walls.  "Open access and the emergence of a competitive natural gas market."  Contemporary Economic Policy, 1994.  http://dx.doi.org/10.1111/j.1465-7287.1994.tb00425.x
4. A. De Vany and W. D. Walls.  "Natural gas industry transformation, competitive institutions and the role of regulation:  Lessons from open access in US natural gas markets."  Energy Policy, 1994.    http://dx.doi.org/10.1016/0301-4215(94)90051-5
5. W. D. Walls.  "Price convergence across natural gas fields and city markets."  The Energy Journal, 1994.  https://www.jstor.org/stable/41322566
6. A. De Vany and W. D. Walls.  "Network connectivity and price convergence: Gas pipeline deregulation."  Research in Transportation Economics, 1994. https://doi.org/10.1016/S0739-8859(09)80003-6
7. W. D. Walls.  "An econometric analysis of the market for natural gas futures."  The Energy Journal, 1995. https://www.jstor.org/stable/41322586
8. A. De Vany and W. D. Walls.  The Emerging New Order in Natural Gas: Markets versus Regulation.  Quorum Books, 1995.  https://books.google.ca/books/about/The_Emerging_New_Order_in_Natural_Gas.html?id=ESAK3Xw6CqYC&redir_esc=y  
9. A. De Vany and W. D. Walls.  "The law of one price in a network:  Arbitrage and price dynamics in natural gas city gate markets."  Journal of Regional Science, 1996.  http://dx.doi.org/10.1111/j.1467-9787.1996.tb01118.x
10. A. De Vany and W. D. Walls.  "Price dynamics in a network of decentralized power markets."  Journal of Regulatory Economics, 1999.   http://dx.doi.org/10.1023/A:1008083026348
11. W. D. Walls.  "Volatility, volume, and maturity in electricity futures."  Applied Financial Economics, 1999.  http://dx.doi.org/10.1080/096031099332357
12. F. Rusco and W. D. Walls.  "Competition in a repeated spatial auction market with an application to timber sales."  Journal of Regional Science, 1999.  http://dx.doi.org/10.1111/0022-4146.00143
13. A. De Vany and W. D. Walls.  "Cointegration analysis of spot electricity prices: Insights on transmission efficiency in the western US."  Energy Economics, 1999.  http://dx.doi.org/10.1016/S0140-9883(99)00019-5
14. C. Bausell, F. Rusco, and W. D. Walls.  "Lifting the Alaskan oil export ban: An intervention analysis."  The Energy Journal, 2001.  https://www.jstor.org/stable/41322931   
15. W. Schrade and W. D. Walls.  "Holding companies, market liquidity, and the development of the electric power industry."  Journal of Energy and Development, 32(1):1-14, Autumn 2006.  https://www.jstor.org/stable/24812845
16. W. D. Walls and F. Rusco.  "Price effects of boutique motor fuels:  Federal environmental standards, regional fuel choices, and local gasoline prices."  The Energy Journal,  28(3):145-163, July 2007. https://www.jstor.org/stable/41323113
17. W. D. Walls, F. Rusco, and J. Ludwigson.  "Power plant investment in restructured markets."  ENERGY---The International Journal, 32(8):1403-1413, August 2007.  http://dx.doi.org/10.1016/j.energy.2006.11.002
18. F. Rusco and W. D. Walls.  "Per-unit bidding rules and buyer under-performance in natural resource sales."  Applied Economics Letters, 15(2):79-83, February 2008.  http://dx.doi.org/10.1080/13504850600705901
19. W. D. Walls.  "Natural gas and electricity markets."  In L. Hunt and J. Evans, editors, International Handbook on the Economics of Energy, Chapter 20, pp. 456-470, Edward Elgar, 2009.  http://www.e-elgar.co.uk/Bookentry_main.lasso?id=12764
20. W. D. Walls.  "Petroleum refining industry in China."  Energy Policy, 38(5):2110-2115, May 2010.   http://dx.doi.org/10.1016/j.enpol.2009.06.002
21. M. Kendix and W. D. Walls.  "Oil industry consolidation and refined product prices:  Evidence from US gasoline terminals."  Energy Policy, 38(7):3498-3507, July 2010.  http://dx.doi.org/10.1016/j.enpol.2010.02.023
22. M. Kendix and W. D. Walls.  "Estimating the impact of refinery outages on petroleum product prices."  Energy Economics, 32(6):1291-1298, November 2010.  http://dx.doi.org/10.1016/j.eneco.2010.05.016
23. M. Kendix, F. Rusco and W. D. Walls.  "Biofuels policy and the US market for motor fuels: Empirical analysis of ethanol splashing."  Energy Policy, 39(7):3999-4006, July 2011.  http://dx.doi.org/10.1016/j.enpol.2010.12.045
24. G. Leung, R. Li and W. D. Walls.  "Transitions in the Chinese market for refined petroleum products."  OPEC Energy Review, 36(3):349-373, September 2012.  http://dx.doi.org/10.1111/j.1753-0237.2012.00215.x
25. A. Zavaleta, W. D. Walls and F. W. Rusco.  "Refining for export and the convergence of petroleum product prices." Energy Economics, 47:206-214, January 2015.  http://dx.doi.org/10.1016/j.eneco.2014.11.007
26. W. D. Walls and X. Zheng.  "Shale oil boom and the profitability of U.S. petroleum refiners."  OPEC Energy Review, 40(4):337--353, December 2016.  https://doi.org/10.1111/opec.12089
27. W. D. Walls and X. Zheng.. "Pipeline capacity rationing and crude oil price differentials: The case of western Canada."  The Energy Journal, 41(1): 241-258, January 2020.  https://doi.org/10.5547/01956574.41.1.wwal
28. W. D. Walls and A. During.  "The Presidential Amnesty Programme of 2009 and Nigerian oil production: A disaggregate econometric analysis."  OPEC Energy Review, 44(1):27-42, March 2020.  https://doi.org/10.1111/opec.12168
29. W. D. Walls and W. Zhang.  "Applied Models of Heavy Tails and Skewness in Energy Prices with an Application to Electricity Price Risk." In, S. Goutte and D.K.Nguyen, editors, Handbook of Energy Finance: Theories, Practices and Simulations, Chapter 8, pp. 185-213. World Scientific, 2020.  https://doi.org/10.1142/9789813278387_0008
30. W. D. Walls and X. Zheng.  "Environmental regulation and safety outcomes: Evidence from Canadian energy pipelines."  Resource and Energy Economics, 64, May 2021.  https://doi.org/10.1016/j.reseneeco.2020.101215
31. W. D. Walls and X. Zheng.  "Fracking and structural shifts in oil supply."  The Energy Journal, 43(3):1--32, 2022.  https://doi.org/10.5547/01956574.43.3.wwalF.
32. Wei, W. D. Walls and X. Zheng.  "Fuel efficiency, power trading, and emissions leakage from driving electric vehicles: Evidence from Chinese provinces."  Energy Policy, Volume 198, March 2025, 114473.  https://doi.org/10.1016/j.enpol.2024.114473

Selected Publications on Transportation Economics

1. A. De Vany and W. D. Walls.  "Network connectivity and price convergence: Gas pipeline deregulation."  Research in Transportation Economics, 1994. https://doi.org/10.1016/S0739-8859(09)80003-6
2. F. Rusco and W. D. Walls.  Clearing the Air:  Vehicular Emissions Policy for Hong Kong.  Chinese University Press, Hong Kong, 1995.  https://books.google.com/books/about/Clearing_the_Air.html?id=QxVphRG7uoIC&redir_esc=y
3. F. Rusco and W. D. Walls.  "Vehicular emissions and control policies in Hong Kong."  Contemporary Economic Policy, 1995.  https://doi.org/10.1111/j.1465-7287.1995.tb00711.x
4. F. Rusco and W. D. Walls.  "An economic analysis of vehicle control policy in Hong Kong."  International Journal of Transport Economics, 1995.  https://www.jstor.org/stable/42747337
5. W. D. Walls.  "Vehicle controls and petrol demand in Hong Kong."  Journal of Energy and Development, 1996.  https://www.jstor.org/stable/pdf/24808804
6. A. De Vany W. D. Walls.  "Open access to rail networks."  Transportation Quarterly, 51(2):73-78, Spring 1997. https://babel.hathitrust.org/cgi/pt?id=mdp.39015047411684&view=1up&seq=245
7. W. D. Walls and J. J. Wang.  "Population and employment patterns in Hong Kong: A density function approach."  Asian Geographer, 16(1-2):103-114, 1997.  https://doi.org/10.1080/10225706.1997.9684027
8. W. D. Walls.  "Automobile usage in Hong Kong."  International Journal of Transport Economics, 1998.  https://www.jstor.org/stable/42747545
9. F. Rusco and W. D. Walls.  "Red bus, green bus: Driver incentives, market organization, safety, and sorting."  Research in Transportation Economics, volume 6, 2001. https://doi.org/10.1016/S0739-8859(01)80009-3
10. W. D. Walls and C. Woudsma.  "Forecasting freight transport demand in Alberta using dirty data and flawed models."  Proceedings of the 39th Canadian Transportation Research Forum, U of Saskatchewan Press, volume 1, pp. 361-375, 2004.
11. F. Rusco and W. D. Walls.  "Transit system performance and industrial economics: Learning from Hong Kong maxicabs and Philippine jeepneys."  Proceedings of the Eighth International Conference on Applications of Advanced Technology in Transportation Engineering (AATTE), American Society of Civil Engineers Press, pp. 187-192, 2004.  https://doi.org/10.1061/40730(144)35
12. F. Rusco and W. D. Walls.  "Choice of driver contract in road transport."  Journal of the Eastern Asia Society for Transportation Studies, volume 6, pp. 3915-3924, 2005. https://doi.org/10.11175/easts.6.3915
13. F. Rusco and W. D. Walls.  "Pricing incremental reductions in vehicular emissions through motor fuel regulation."  Proceedings of the Ninth International Conference on Applications of Advanced Technology in Transportation (AATT), American Society of Civil Engineers Press, pp. 846-851, 2006. https://doi.org/10.1061/40799(213)136
14. J. D. Hunt and W. D. Walls.  "Robust analysis of discrete choice in transport with an application to Alberta cyclists."  Proceedings of the 11th HKSTS, pp. 363-369, 2006.  https://citeseerx.ist.psu.edu/document?repid=rep1&type=pdf&doi=0c79b5433bdabd20e87e26e64cc674e8fa9a4f9a
15. W. D. Walls and L. Yuan.  "Highway subfranchising and tolling competition."  Journal of Transport Economics and Policy, 49(1):115-132, Janurary 2015.  Available online through JSTOR:  https://www.jstor.org/stable/jtranseconpoli.49.1.0115
16. G. Li, W. D. Walls and X. Zheng. "Differential license plate pricing and electric vehicle adoption in Shanghai, China." Transportation Research Part A: Policy & Practice, Volume 172, 2023.   https://doi.org/10.1016/j.tra.2023.103672
17. F. Wei, W. D. Walls, X. Zheng, and G. Li.  "Evaluating environmental benefits from driving electric vehicles: The case of Shanghai."   Transportation Research Part D: Transport and Environment, Volume 119, 2023, 103749.  https://doi.org/10.1016/j.trd.2023.103749  
18. F. Wei, W. D. Walls and X. Zheng.  "Fuel efficiency, power trading, and emissions leakage from driving electric vehicles: Evidence from Chinese provinces."  Energy Policy, Volume 198, March 2025, 114473.  https://doi.org/10.1016/j.enpol.2024.114473 

Selected Publications on Other Topics

1. H. Gensler and W. D. Walls.  “The effect of welfare on labor force participation: The case of low income female household heads.” International Journal of Sociology of the Family, 25(1):81–89, Spring 1995.  https://www.jstor.org/stable/23029763 
   Reprinted in M. Das and V. Gupta, editors, Feminine Role in Global Society. Vedams Books, New Delhi, 1995.
2. H. Gensler and W. D. Walls.  Labour-supply impacts of effective welfare programme parameters: A reanalysis.”  Applied Economics, 27(5):461–467, May 1995. https://doi.org/10.1080/00036849500000152
3. K. Busche and W. D. Walls.  Proportional justice versus efficient deterrence in Hong Kong criminal sentencing.”  Hong Kong Law Journal, 25(2):180–190, Spring 1995. http://hdl.handle.net/10722/132934
4. H. Gensler and W. D. Walls.  “Husbands, wives and welfare: The effect of welfare guarantees and taxes on family labor supply”  International Journal of Sociology of the Family, 25(2):115–124, Autumn 1995. https://www.jstor.org/stable/23029668 
   Reprinted in M. Das and V. Gupta, editors, Changing Family Roles and Feminism. Vedams Books, New Delhi, 1996.
5. H. Gensler and W. D. Walls.  “Labor force and welfare program participation: The effects of welfare.” American Journal of Economics and Sociology, 56(2):229–241, April 1997. https://www.jstor.org/stable/3487261
6. K. Busche and W. D. Walls.  "Probability and utility estimates for Asian horse track gamblers."  Singapore Economic Review, 1999.
7. K. Busche and W. D. Walls.  "Decision costs and betting market efficiency."  Rationality and Society, 2000. https://doi.org/10.1177/104346300012004006
8. K. Busche and W. D. Walls.  "Breakage and betting market efficiency: evidence from the horse track."  Applied Economics Letters, 2001.  https://doi.org/10.1080/13504850010021154
9. B. Adams, F. Rusco, and W. D. Walls.  "Professional bettors, odds-arbitrage competition, and betting market equilibrium."  Singapore Economic Review, 2002. https://doi.org/10.1142/S021759080200033X
10. K. Busche and W. D. Walls.  "Breakage, turnover, and betting market efficiency: New evidence from Japanese horse tracks."  In L. Vaughan-Williams, editor, The Economics of Gambling, Routledge, 2003. https://www.taylorfrancis.com/chapters/edit/10.4324/9780203986936-12/breakage-turnover-betting-market-ef%EF%AC%81ciency-new-evidence-japanese-horse-tracks-david-walls-kelly-busche
11. K. Busche and W. D. Walls.  "The behavior of Alberta Gamblers: Evidence from the tote at Northlands Park."  Gambling Research, 2004.  https://search.informit.org/doi/10.3316/INFORMIT.981261885927956
12. W. D. Walls and P. Harvey.  "Modeling gambling demand in a laboratory casino: Discovering the importance of individual-specific effects."  In L. Vaughan-Williams, Information Efficiency in Betting and Financial Markets, Cambridge University Press, 2005.  https://www.cambridge.org/core/books/abs/information-efficiency-in-financial-and-betting-markets/modelling-gambling-demand-in-a-laboratory-casino-discovering-the-importance-of-individualspecific-effects/26019BD956FBD1CAB5939BF85126E4D2