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Evaluation with dynamic reference: Sustainable investment
Vinokur, Leon - 2009
The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a status quo). This paper aims to develop a...
Persistent link: https://www.econbiz.de/10010280772
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Long-term consequences of an innovative redundancy-retraining project: The Austrian Steel Foundation
Winter-Ebmer, Rudolf - 2000
In the late 1980s privatization and down-sizing of nationalized steel mills and related firms in the metal industry have lead to large-scale redundancy plans. A special Steel Foundation was created as part of a social plan. This foundation acted like an independent training center, where...
Persistent link: https://www.econbiz.de/10010294522
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Favourable cost-benefit in an early defibrillation program using dual dispatch of ambulance and fire services in out-of-hospital cardiac arrest
Sund, Björn; Svensson, Leif; Rosenqvist, Mårten; … - 2010
Aims: Out-of-hospital cardiac arrest (OHCA) is fatal without treatment and time to defibrillation is an extremely important factor in relation to survival. We performed a cost-benefit analysis of dual dispatch defibrillation by ambulance and fire services in the County of Stockholm,...
Persistent link: https://www.econbiz.de/10012654363
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A Note on High-Speed Rail Investments and Travelers' Value of Time
Hultkrantz, Lars - 2012
High-Speed Rail (HSR) is designed for travelers with high value of time. HSR offer fast and reliable services and good possibilities for work during the journey. Surprisingly, these benefits of HSR investment proposals are often appraised by use of travel-time valuations of people who use...
Persistent link: https://www.econbiz.de/10012654383
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Estimating "Gamma" for Tail-hedge Discount Rates When Project Returns Are Co-integrated with GDP
Hultkrantz, Lars; Mantalos, Panagiotis - 2016
Weitzman (2012, 2013) has suggested a method for calculating social discount rates for long-term investments when project returns are covariant with consumption or other macroeconomic variables, so called "tail-hedge discounting". This method relies on a parameter called "real project gamma"...
Persistent link: https://www.econbiz.de/10012654414
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Should we sustain? And if so, sustain what? Consumption or the quality of life?
Llavador, Humberto; Roemer, John E.; Silvestre, Joaquim - 2012
Sustainability has been largely replaced by discounted utilitarianism in contemporary climate-change economics. Our … approach rejuvenates sustainability by expanding the conception of the quality of life, along the lines of the UN Human … substituting consumption for the quality of life. Our sustainability results carry over. As it should be expected, optimal …
Persistent link: https://www.econbiz.de/10010318844
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The measurement of labour content: A general approach
Yoshihara, Naoki; Veneziani, Roberto - 2013
This paper analyses the theoretical issues related to the measurement of labour content in the context of general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical...
Persistent link: https://www.econbiz.de/10010368166
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A puzzle about the monetary expression of labor time: An equilibrating mechanism or just a coincidence?
Park, Hyun Woong; Rieu, Dong-min - 2018
In this paper, we report a puzzling result about the monetary expressions of labor time (MELTs) of the productive and unproductive sectors. Since part of the aggregate value produced in productive sectors is transferred to unproductive sectors, the productive sector's MELT is a measure of value...
Persistent link: https://www.econbiz.de/10012059902
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The European economic crisis from 2007 onwards in the context of a global crisis of over-production of capital - a Marxian monetary theory of value interpretation
Gander, Sascha - 2019
This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes in-trinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the...
Persistent link: https://www.econbiz.de/10012099421
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Values for cooperative games over graphs and games with inadmissible coalitions
Hellman, Ziv; Peretz, Ron - 2015
We suppose that players in a cooperative game are located within a graph structure, such as a social network or supply route, that limits coalition formation to coalitions along connected subsets within the graph. This in turn leads to a more general study of coalitional games in which there are...
Persistent link: https://www.econbiz.de/10011452613