An economic analysis of fakes differs substantially from the legal and the art historic views which both tend to propose repressive policies against imitations. But there are large economic benefits from copying. In particular, the "propagation effect" yields utility to both consumers and...

An economic analysis of fakes differs substantially from the legal and the art historic views which both tend to propose repressive policies against imitations. But there are large economic benefits from copying. In particular, the "propagation effect" yields utility to both consumers and...

This paper presents a proposal to deal with cultural overtourism causing substantial negative e!ects. They burden the local population, tourists, and the natural environment by overcrowding, vandalism, and pollution. While at present tourism is suppressed by governments due to the COVID-19...

This paper presents a proposal to deal with cultural overtourism causing substantial negative e!ects. They burden the local population, tourists, and the natural environment by overcrowding, vandalism, and pollution. While at present tourism is suppressed by governments due to the COVID-19...

The negative external effects caused by Cultural Overtourism were evident at various cultural sites, especially in Europe. However, the exogenous shock of a pandemic and the consequences of governmental interventions resulted in a situation of worldwide Undertourism. It is to be expected that...

The burning of fossil fuels not only causes CO2 emissions but at the same time impairs local environmental quality such as ambient air quality. The present paper analyzes the possible distortion arising from international trade in CO2 emissions when local externalities persist. It is...

Over the last decades, empirical research on subjective well-being in the social sciences has provided a major new stimulus to the discourse on individual happiness. Recently this research has also been linked to economics where reported subjective wellbeing is often taken as a proxy measure for...

Over the last decades, empirical research on subjective well-being in the social sciences has provided a major new stimulus to the discourse on individual happiness. Recently this research has also been linked to economics where reported subjective wellbeing is often taken as a proxy measure for...

This paper intends to provide an evaluation of where the economic research on happiness stands and in which interesting directions it might develop. First, the current state of the research on happiness in economics is briefly discussed. We emphasize the potential of happiness research in...

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...