A discrete symmetry of a preference relation is a mapping from the domain of choice to itself under which preference comparisons are invariant; a continuous symmetry is a one-parameter family of such transformations that includes the identity; and a symmetry field is a vector field whose...

We develop a nonparametric procedure, called the lattice method, for testing the consistency of contingent consumption data with a broad class of models of choice under risk and under uncertainty. Our method allows for risk loving and elation seeking behavior and can be used to calculate, via...

Using modern methods for analyzing multi-level data, we find that, by and large, citizens of OECD countries are more satisfied with the way democracy works in their country if more environmental policies are in place and if environmental quality is higher. We also document that parents care...

During a time in which the subject of climate change is deemed high on the list of priorities of many governments, it is important to assess to what extent policies in this field are achieving meaningful results. The link between energy usage and global warming is clear and today in the European...

How are market conditions affected by a change in fishery regulations? Who benefits and who loses? The paper discusses the price effects of a reform in the Swedish Baltic cod fishery where vessels using active gear were given annual quotas rather than the previously applied quarterly quotas. We...

This paper examines the distribution of the gasoline tax burden in the presence of increased electric vehicle adoption. Automobile manufacturers and even some states have ambitious goals to phase out gas-powered cars. However, in spite of these plans, the primary source of automobile...

In sub-Saharan Africa (SSA) diets are largely based on cereal or root staple crops. Together with socio-cultural change, economic and demographic growth could boost the demand for meat, with significant environmental repercussions. We model meat consumption pathways to 2050 for SSA based on...

Under the Single Supervisory Mechanism (SSM), introduced in 2014, systemically important euro area banks with combined assets of about 21,000 billion euros are directly supervised by the ECB. We examine from a static and a dynamic perspective how this fundamental shift to unified supervision...

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil prices for the 1986-2009 period. All the estimated structural parameters have the expected sign and are significant at standard test levels. We find that OPEC exercised its...

We provide a detailed portfolio analysis for a financial market with an atomless continuum of assets. In the context of an exact arbitrage pricing theory (EAPT), we go beyond the characterization of the existence of important portfolios (normalized riskless, mean, cost, factor and mean-variance...