The advantages and disadvantages of genetic modification of organisms in agriculture are reviewed. These relate to the environment, human health, socio-economic effects, population growth, and differential consequences for developed and developing countries. An overall evaluation requires that...

This paper examines the impact of coinsurance exemption for prescription medicines applied to elderly individuals in Spain after retirement. To evaluate this coinsurance change we use a rich administrative dataset that links pharmaceutical consumption and hospital discharge records for the full...

This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...

Wetlands all over the world have been lost or are threatened in spite of various international agreements and national policies. This is caused by: (1) the public nature of many wetlands products and services; (2) user externalities imposed on other stakeholders; and (3) policy intervention...

Unreliable travel times cause substantial costs to travelers. Nevertheless, they are not taken into account in many cost-benefit-analyses (CBA), or only in very rough ways. This paper aims at providing simple rules on how variability can be predicted, based on travel time data from Dutch...

This review considers the role of environmental effects in transport investment appraisal, mainly from the perspective of cost-benefit analysis, the most widely adopted appraisal technique. Although the basic principles of CBA are straightforward, several complications are identified that may...

This paper investigates second-best congestion pricing in a monocentric city characterized by distortionary, rigid regulatory mechanisms in the housing market (building height restrictions, zoning and property taxation). The Pigouvian toll is shown to retain its optimality under any setting with...