Given the large number of choices that consumers make each day it seems likely that they will generally adopt decision strategies that minimize cognitive effort, particularly with low price products such as most items found in a supermarket. One such strategy may be to simply choose what has...

The psychology, the marketing consumer behavior and, to a much smaller extent, the economics literature have long reported evidence that decision makers utilize different decision strategies depending upon many factors (person-specific, task-specific, etc.). Such observations have generally...

Welfare economics is often employed to measure the impact of economic policies or externalities. When demand is characterized by discrete choices, static models of consumer demand are employed for this type of analysis because of the difficulty in estimating dynamic discrete choice models. In...

An important element of resource management and conservation is an understanding of the tradeoffs between marketed products such as timber and measures of environmental quality such as biodiversity. In this paper, we develop an integrated economic – ecological spatial optimization model. The...

This study examines the economic, social and environmental effects of alternative agricultural methods, traded through fair trade mechanisms, on producers in northern Thailand. These effects are compared with those of conventional agriculture and mixed agriculture (where alternative agriculture...

Hypothetical bias arises when values which people say they place on a good or service differ systematically from the values people reveal for the same good or service through actual, binding economic transactions. Studies of hypothetical bias with respect to public goods often use charitable...