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Who Counts in Evaluating the Effects of Air Pollution Policies on Households? Non-Market Valuation in the Presence of Dependencies

Smith, V. Kerry; Evans, Mary F.; Poulos, Christine - National Bureau of Economic Research (NBER) - 2009

Individuals who are likely to realize the largest benefits from improvements in air quality often depend on other members of their households to make time or monetary contributions to their care. The presence of these dependency relationships among household members poses challenges for benefit...

Persistent link: https://www.econbiz.de/10005085384

Valuing a Homeland Security Policy: Countermeasures for the Threats from Shoulder Mounted Missiles

Smith, V. Kerry; Mansfield, Carol; Clayton, Laurel - National Bureau of Economic Research (NBER) - 2008

This paper reports estimates for the ex ante tradeoffs for three specific homeland security policies that all address a terrorist attack on commercial aircraft with shoulder mounted missiles. Our analysis focuses on the willingness to pay for anti-missile laser jamming countermeasures mounted on...

Persistent link: https://www.econbiz.de/10005718171

Estimating the General Equilibrium Benefits of Large Policy Changes: The Clean Air Act Revisited

Smith, V. Kerry; Banzhaf, Spencer; Sieg, Holger; Walsh, … - National Bureau of Economic Research (NBER) - 2000

This paper reports the first comprehensive approach for measuring the general equilibrium willingness to pay for large changes in air quality. It is based on a well defined locational equilibrium model. The approach allows estimation of households' indirect utility function and the underlying...

Persistent link: https://www.econbiz.de/10005720605

Do Citizens Want the Truth about Terrorist Threats Regardless of the Consequences?

Smith, V. Kerry; Mansfield, Carol; Klaiber, H. Allen - National Bureau of Economic Research (NBER) - 2010

This paper proposes the use of consumers' preferences in formulating policies for keeping secret information about terrorist activities and threats that might compromise future security. We report the results from two surveys indicating that people have clear preferences for full disclosure of...

Persistent link: https://www.econbiz.de/10008548804

The New Economics of Equilibrium Sorting and its Transformational Role for Policy Evaluation

Smith, V. Kerry; Kuminoff, Nicolai V.; Timmins, Christopher - National Bureau of Economic Research (NBER) - 2010

Households "sort" across neighborhoods according to their wealth and their preferences for public goods, social characteristics, and commuting opportunities. The aggregation of these individual choices in markets and in other institutions influences the supply of amenities and local public...

Persistent link: https://www.econbiz.de/10008565078

The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis

Lerner, Josh; Schoar, Antoinette; Kerr, William R. - National Bureau of Economic Research (NBER) - 2010

This paper documents the role of angel funding for the growth, survival, and access to follow-on funding of high-growth start-up firms. We use a regression discontinuity approach to control for unobserved heterogeneity between firms that obtain funding and those that do not. This technique...

Persistent link: https://www.econbiz.de/10008628350

Patent Protection and Innovation Over 150 Years

Lerner, Josh - National Bureau of Economic Research (NBER) - 2002

The paper seeks to understand the impact of the patent system on innovation by examining shifts in the strength of … patent protection across sixty countries and a 150-year period. An examination of 177 policy changes reveals that … strengthening patent protection appears to have few positive effects on patent applications by entities in the country undertaking …

Persistent link: https://www.econbiz.de/10005714749

Fear of Rejection? Tiered Certification and Transparency

Farhi, Emmanuel; Lerner, Josh; Tirole, Jean - National Bureau of Economic Research (NBER) - 2008

The sub-prime crisis has shown a harsh spotlight on the practices of securities underwriters, which provided too many complex securities that proved to ultimately have little value. This uproar calls attention to the fact that the literature on intermediaries has carefully analyzed their...

Persistent link: https://www.econbiz.de/10005718220

Private Equity and Long-Run Investment: The Case of Innovation

Lerner, Josh; Stromberg, Per; Sørensen, Morten - National Bureau of Economic Research (NBER) - 2008

-term performance. We investigate 495 transactions with a focus on one form of long-term activities, namely investments in innovation as … standard measures of patent quality, we find that patents granted to firms involved in private equity transactions are more …

Persistent link: https://www.econbiz.de/10005774804

Contractibility and the Design of Research Agreements

Lerner, Josh; Malmendier, Ulrike - National Bureau of Economic Research (NBER) - 2005

We analyze how variations in contractibility affect the design of contracts in the context of biotechnology research agreements. A major concern of firms financing biotechnology research is that the R&D firms might use the funding to subsidize other projects or substitute one project for...

Persistent link: https://www.econbiz.de/10005580417