This paper reports an exercise in adversarial collaboration. An adversarial collaboration is an investigation carried out jointly by two individuals or research groups who, having proposed conflicting hypotheses, seek to resolve the issue in dispute. The experiment reported was designed to...

We present the results of an experiment involving established couples, which uses choices between lotteries to test some economic models of household decision-making. Subjects make choices individually and jointly and are asked to make predictions about their partners choices. Income pooling is...

Given the evidence against the unitary model of the household, there is a need to understand the predictions of alternative household models within the context of valuation. This paper derives the relationship between household and individual willingness to pay (WTP) for the non-cooperative...

While a dominated choice involves a situation in which one option clearly dominates another on all relevant dimensions, an asymmetrically dominated choice typically involves more than two options in which at least two options do not dominate each other but one (but not both) of those options...

Economics conventionally assumes that preferences are coherent, i.e. stable, context-independent, and consistent with axioms of rationality. Since these assumptions underpin standard interpretations of cost-benefit analysis (CBA), preference 'anomalies' found in stated preference surveys pose...

This paper proposes a formulation of consumer sovereignty, for use in normative economics, which does not presuppose individuals' preferences to be coherent. The fundamental intuition, that opportunity and responsibility have moral value, is formalised as a responsibility criterion for assessing...