This paper discusses a novel approach to elicit people s preferences for public goods, namely the life satisfaction approach. Reported subjective well-being data are used to directly evaluate utility consequences of public goods. The strengths of this approach are compared to traditional...

This paper analyzes bureaucracy within the context of the politico-economic framework using the rational choice approach. Bureaucracy interacts with various groups of decision-makers, and its influence depends on institutional differences, in particular representative democracy with or without...

In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals' well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...