This paper investigates the costs and benefits of three ex ante flood management strategies - risk-based insurance, zoning, and subsidized insurance - in an urban economics framework that takes land scarcity into account. In a theoretical setting and in the absence of market failures, risk-based...

Bruno S. Frey illustrates what he perceives to be the inspirational quality of economics and how this differs from the type of economics studied in many academic institutions. He introduces insights into economics from a psychological perspective, dealing with issues such as transformation of...

pt. I. The micro-foundations of economic organization : extending behavioral assumptions on knowledge, interest, and rationality -- pt. II. The constitution of economic organization between interacting and contracting -- pt. III. The shaping of economic organization between design and evolution...

1: Introduction -- 2: Intuitions about Welfare – Under the Constraint of Computability -- 3: Sraffa, Keynes and a New Paradigm -- 4: On the Meaning Maximization Doctrine: An Alternative to the Utilitarian Doctrine -- 5: A Generalization of Sraffa’s Notion of “Viability” in a ‘Land...