1. Completely demoralized by a rejection from one respected journal. Too depressing to tell. But anyway, the bottomline is, the reviewers are not happy with the use of only-first-stage hedonic model with attitude as anchor. They also allude that my use of embedding tehnique is not really strong to claim novelty. Others are related to endogeneity, bias from variable omission, etc. I have an impression that one of the reviewers is a pure econometrician. He/she is bothered by the use of terms like "instrumental variable", "calibration", etc. for referring things not necessarily in econometric context.

2. The day as it is ending sadly:: Breakfast: Panera's house blend coffee, cinnamon roll. Lunch: pizza topped with chicken, pinneaple, apple, and pesto. Dinner: indomie, egg, vegetable "egg"rolls, tangerine. Work: completing tables, agonizing with the rejection. Readings: Chicago Tribune (Get Fuzzy: Satchel the dog got christmas gift, a bug. He's so happy), Wall Street Journal (a short bio of an extremist-turned-moderate -- very biased report).