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Benefit-Cost Analysis of Environmental Projects: A Plethora of Systematic Biases

Graves, Philip E. - CESifo - 2010

There are many reasons to suspect that benefit-cost analysis applied to environmental policies will result in policy decisions that will reject those environmental policies. The important question, of course, is whether those rejections are based on proper science. The present paper explores...

Persistent link: https://www.econbiz.de/10008511597

Public-Good Valuation and Intrafamily Allocation

Strand, Jon - CESifo - 2004

I derive values of marginal changes in a public good for two-person households, measured alternatively by household member i’s willingness to pay (WTP) for the good on behalf of the household, WTPi(H), or by the sum of individual WTP values across family members, WTP(C). Households are assumed...

Persistent link: https://www.econbiz.de/10005181474

The Value of a Statistical Life under Ambiguity Aversion

Treich, Nicolas - CESifo - 2008

We show that ambiguity aversion increases the value of a statistical life as soon as the marginal utility of wealth is higher if alive than dead. The intuition is that ambiguity aversion has a similar effect as an increase in the perceived baseline mortality risk, and thus operates as the...

Persistent link: https://www.econbiz.de/10005406403

Measuring Time and Risk Preferences: Realiability, Stability, Domain Specificity

Wölbert, Eva; Riedl, Arno - CESifo - 2013

reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of … these characteristics over time and across situations. We find high reliability and that individual characteristics are …

Persistent link: https://www.econbiz.de/10010681226

The New Stylized Facts about Income and Subjective Well-Being

Sacks, Daniel W.; Stevenson, Betsey; Wolfers, Justin - CESifo - 2013

In recent decades economists have turned their attention to data that asks people how happy or satisfied they are with their lives. Much of the early research concluded that the role of income in determining well-being was limited, and that only income relative to others was related to...

Persistent link: https://www.econbiz.de/10010877842

Wages, Rents, Unemployment, and the Quality of Life

Wrede, Matthias - CESifo - 2012

Combining a spatial equilibrium model with a matching unemployment model, this paper analyzes the regional quality of life when wages, rents, and unemployment risk compensate for local amenities and disamenities. In particular, the paper shows for quasi-linear utility that the effects of any...

Persistent link: https://www.econbiz.de/10010546957

Honeybee Economics - Implications for Ecology Policy

Kanniainen, Vesa; Lehtonen, Tuula; Mellin, Ilkka - CESifo - 2013

For thousands of years, humans have known the value of honeybees in agriculture. Their pollination services are crucial for the mankind, the Global ecosystem and food production. The recently documented decline of the honeybee colonies in the world is alarming and may threaten the whole living...

Persistent link: https://www.econbiz.de/10010640654

Subjective Well-Being, Income, Economic Development and Growth

Sacks, Daniel W.; Stevenson, Betsey; Wolfers, Justin - CESifo - 2010

most countries around the world. Turning to the relationship between countries, we show that average life satisfaction is … higher in countries with greater GDP per capita. The magnitude of the satisfaction-income gradient is roughly the same …-being. Finally, studying changes in satisfaction over time, we find that as countries experience economic growth, their citizens …

Persistent link: https://www.econbiz.de/10008671708

Is the Welfare State Sustainable? Experimental Evidence on Citizens' Preferences for Redistribution

Neustadt, Ilja; Zweifel, Peter - CESifo - 2010

The sustainability of the welfare state ultimately depends on citizens’ preferences for income redistribution. They are elicited through a Discrete Choice Experiment performed in 2008 in Switzerland. Attributes are redistribution as GDP share, its uses (the unemployed, old-age pensioners,...

Persistent link: https://www.econbiz.de/10008511616

Measuring the Consumption Value of Higher Education

Alstadsæter, Annette - CESifo - 2009

This paper argues that the consumption value of education is an important motivation for the educational choice. While controlling for ability, we document that individuals are willing to forego substantial future wage returns in order to acquire a particular type of higher education. We...

Persistent link: https://www.econbiz.de/10008533984