The effects of a policy measure often reach the consumer only after one or more intermediatesteps, for instance because the measure lowers the cost of an input for an industry producinga consumer good. This paper is concerned with the question how to measure such indirect effectscorrectly under...

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...

Donor agencies and recipient governments want to assess the effectiveness of aid-supported sector policies. Unfortunately, existing methods for impact evaluation are designed for the evaluation of homogeneous interventions (‘projects’) where those with and without ‘treatment’ can be...

This paper analyzes the impact of a leading entrepreneurship education program on college students’ entrepreneurship competencies and intentions using an instrumental variables approach in a difference-in-differences framework. We exploit that the program was offered to students at one...

The Ramsey rule for the consumption rate of discount assumes a transfer of money of a (representative) agent at one point in time to the same agent at another point in time. Climate policy (implicitly) transfers money not just over time but also between agents. I propose three alternative...

This model of policy evaluation has been developed to identify factors that cause policy outcomes to diverge from the intended results. In this model the explanatory factors may be inherent to the conceptual and institutional framework to which policy makers adhere, or they may be ‘real...

Local policy makers seek ways to deal with abandoned industrial heritage in their jurisdictions. Much is demolished, but in some cases considerable investments are made to preserve the cultural aspects of industrial sites. The renewal plans are usually designed to stimulate urban renewal in the...

We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) in which the unique equilibrium satisfies lexicographic welfare maximization. When we relax assumptions on consumption sets and preferences slightly, equilibria other than lexicographic welfare...

This paper has a twofold objective. First, we develop a new method to assess the monetary valuefor individuals of external effects. The method makes use of an ordinal index of life satisfaction asscored by individual respondents who are subjected in varying intensity to the external effect....

This discussion paper resulted in a publication in <I>Transportation Research Part B: Methodological</I> (2011). Vol. 45(10), pages 1545-1559.<P> This paper analyses the cost of access travel time variability for air travelers. Reliable access to airports is important since it is likely that the cost of...</p></i>