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determination of an optimal rights structure results. It is further shown that an efficiency analysis based on a "naive" cost … endogeneity of preferences. The endogeneity of preferences in turn can make the cost-benefit analysis contradictory. In a welfare …
Persistent link: https://www.econbiz.de/10011309548
(e.g., related to an individual's altruism, fairness perceptions, concerns for efficiency, and political views). By …
Persistent link: https://www.econbiz.de/10014444043
that the welfare functions traditionally used in climate economics are ill-equipped to deal with climate catastrophes in … which population size changes. Drawing on recent work in population ethics I propose an alternative welfare framework with … normatively desirable properties, which has the effect of dampening the contribution of catastrophes to welfare. …
Persistent link: https://www.econbiz.de/10010199723
Using the concept of Inequity Aversion we derive in a Moral Hazard setting several results which differ from conventional contract theory. Our three key insights are: First, inequity aversion plays a crucial role in the design of optimal contracts. Second, there is a strong tendency towards...
Persistent link: https://www.econbiz.de/10011514018
Climate change is an externality since those who emit greenhouse gases do not pay the long-term negative consequences of their emissions. In view of the resulting inefficiency, it has been claimed that climate policies can be evaluated by the Pareto principle. However, climate policies lead to...
Persistent link: https://www.econbiz.de/10012817856
Policies and explicit private incentives designed for self-regarding individuals sometimes are less effective or even counterproductive when they diminish altruism, ethical norms and other social preferences. Evidence from 51 experimental studies indicates that this crowding out effect is...
Persistent link: https://www.econbiz.de/10003872219
higher social welfare. A substantial empirical literature establishes that workers reciprocate gifts in the form of higher … hypotheses and confirms the behavioral and welfare implications. …
Persistent link: https://www.econbiz.de/10011701529
We study the evolution of interest about climate change between different actors of the population, and how the interest of those actors affect one another. We first document the evolution individually, and then provide a model of cross influences between them, that we then estimate with a VAR....
Persistent link: https://www.econbiz.de/10013358947
An important element for the public support of policies is their perceived justice. At the same time most policy … their own risk preferences. The observed allocations are consistent with four different views of justice under uncertainty. …
Persistent link: https://www.econbiz.de/10009766681
We examine whether belief-based preferences - caring about what transgressors believe - play a crucial role in punishment decisions: Do punishers want to make sure that transgressors understand why they are being punished, and is this desire to affect beliefs often prioritized over distributive...
Persistent link: https://www.econbiz.de/10012166019