This paper provides an empirical analysis of the role of intergovernmental relations on a country's effort to enforce the objectives of an international environmental agreement on an open access resource. Intergovernmental interaction allows signatory countries to observe compliance behavior of...

This paper estimates the individual willingness to pay (WTP) for the option to exercise risk-taking. We use data of 69 Austrian Ski resorts and 3,637 reported ski accidents and apply the hedonic market method. Our results suggest that the individual WTP for a hypothetical increase in the...

Within the last decades an increasing number of people practice risky sports in their leisure time. Although there exists a vast number of economic literature on risk-taking behavior, an estimation of the individual willingness to pay (WTP) for the option to exercise risk-taking is missing....

This article addresses the mediating effect of corruption on the influence of stringency of environmental regulation on firms' voluntary environmental performance. Using panel data from adoption of the EU Eco-Management and Audit Scheme (EMAS) across European Union countries from 1995 to 2011,...

This paper analyses the effect of the West Sumatra public asset insurance program on short-term economic recovery after the September 2009 West Sumatra Earthquake. We use satellite data on yearly differences in nighttimelight intensity as a proxy for economic activity, to investigate the effect...

We study the effects of economic shocks on civil conflict at the subnational level using a panel dataset of 5689 administrative regions from 53 African countries with yearly observations from 1992 to 2010. We find that economic shocks, measured by nighttime light intensity and instrumented by...

This paper argues that life satisfaction data can be used to value natural disasters. We discuss the strengths of this approach, compare it to traditional methods and apply it to estimate and monetize utility losses caused by floods in 16 European countries between 1973 and 1998. Using combined...