Three step process: Each valuation process can - independent of its economic or ecological focus - be subdivided into three stages: The selection of the target object, the determination of the effects to be analyzed and, last but not least, the monetary or non-monetary valuation of these...

At present Germany experiences a shake-up of the hospital industry, following the introduction of a DRG-based hospital budgeting system. Hospital owners re-evaluate their assets and adapt their strategies to the new regulatory environment. Benchmarking studies play a vital role in assessing own...

Estimates of the marginal product of capital can help forecast economic growth, test competing businesscycle theories, and perform cost-benefit analysis. This paper presents annual and quarterly estimatesof the marginal product of capital in the U.S. separately for the residential and...

Überall auf der Welt haben Regierungen Pläne für ultra-schnelle nationale Breitbandnetzeangekündigt. Netzbetreiber, insbesondere Incumbents, scheinen dagegen wenigerbegeistert über groß angelegte Investitionsprogramme in Glasfasernetze zu sein.Wenn sie investieren, scheinen sie mehr auf...

We run a computerised experiment of network formation where allconnections are bene…cial and only direct links are costly. Players simul-taneously submit link proposals; a connection is made only when bothplayers involved agree. We use both simulated and experimentally gen-erated data to test...

Economic evaluation of projects involving changes in mortality risk conventionally assumesthat lives are statistical, i.e., that risks and policy-induced changes in risk are small andsimilar among a population. In reality, baseline mortality risks and policy-induced changes inrisk often differ...

For the first time it has been made possible to merge a German and a Swiss firm-level data set that include detailed information about costs and benefits of apprenticeship training. Previous analyses based only on aggregate data showed that the net costs of training apprentices are substantial...

This paper intends to provide an evaluation of where the economic research onhappiness stands and in which interesting directions it might develop...

For two independent principles of intergenerational equity, the implied discount rate equals the growthrate of real per-capita income, say 2%, thus falling right into the range suggested by the U.S. Office ofManagement and Budget. To prove this, we develop a simple tool to evaluate small policy...