The well-known study by Ferraro and Taylor (2005) on the understanding of opportunity cost has sparked considerable debate. This paper addresses one specific aspect of the question, namely the issue of units of measurement when converting goods to dollars for comparison purposes. Results...

The paper proposes a simple framework for the evaluation of anti-poverty programs based on single means differences, FGT poverty measures and stochastic dominance theory. A Treatment Effect Curve (TEC) is derived and its use illustrated with simulated data

Following the recent generalization of social choice in the literature on judgment aggregation, we extend the analysis of freedom of choice from sets of alternatives to sets of opinions. We establish the analogue of the cardinality based freedom of choice measure and suggest an alternative...

We present a straightforward proof of Arrow's Theorem. Our approach avoids some of the complexities of existing proofs and is meant to be transparent and easily followed.

The willingness to accept – willingness to pay disparity raises questions about accepted economic theory. Plott and Zeiler (2005) have suggested that the disparity is the result of subject misconception about experimental procedures and, in an experiment designed to control for subject...

Some properties that strengthen the Pigou-Dalton transfer principle have been introduced in the literature, such as the diminishing transfer principle, and its positional version, the principle of positional transfer sensitivity. These principles state that social evaluation function should be...

We ask how the strength of the link from values and attitudes and to pro-environmental behaviour varies across different consumption domains. We base our analysis on a survey of the Norwegian population, focusing on values, attitudes, and pro-environmental behaviour relating to waste, food,...

There is much interest among Economists using both theoretical and empirical approaches regarding subjective measures of well being. The present study is an attempt in this direction and it examines if there is a relationship between happiness of people and environmental degradation. We did...

The point of departure of this paper is that players in a contest may have mixed motives. On one hand, players have the interest of winning the contest and taking the prize. On the other hand, they could be better off taking part in a contest which implies some cooperative behaviour. This paper...

This paper extends the Hall-Roeger methodology in order to investigate the market structure and to measure the degree of market power in the Greek food and beverages manufacturing industry over the period 1984–2007 at the three-digit SIC level. The present paper also estimates the net and...