The value of preventing a fatality or (saving) a statistical life is an important question in health economics as well as environmental economics. This paper reviews and adds new insights to several of the issues discussed in the literature. For example, how do we define the value of a...

The value of preventing a fatality or (saving) a statistical life is an important question in health economics as well as environmental economics. This paper reviews and adds new insights to several of the issues discussed in the literature. For example, how do we define the value of a...

This paper discusses how to evaluate a large project when there is a substitute. The new large project causes discrete price adjustments in the substitute market. For example, a new high-speed rail may shift the demand curve for flight tickets to the left and reduce their price, in turn shifting...

Large data centers enjoy government support in many countries. These centers are not laborintensive, but energy-intensive, thus tending to push up electricity prices and possibly crowding out labor-intensive firms. In addition, when owned by multinational companies, profits are difficult to tax...

In this note we discuss two alternative ways of undertaking a social cost-benefit analysis. One approach is the conventional one where benefits and costs are expressed in monetary units. The other approach uses an environmental asset as the payment vehicle. The properties of the two approaches...

Conventional cost-benefit rules typically assume that the alternative to the project under evaluation is “doing nothing” or “business as usual”. In this note we contrast this approach to one where the alternative is to provide another environmental good or service. We show that this...

In this note we discuss two alternative ways of undertaking a social cost-benefit analysis. One approach is the conventional one where benefits and costs are expressed in monetary units. The other approachuses an environmental asset as the payment vehicle. The properties of the two approaches...

In analysis of atemporal models, comparative statics experiments are typically carried out, often employing envelope properties, such as Roy's identity, Hotelling's lemma and Shephard's lemma, in order to simplify the analysis. In analysis of dynamic models, such experiments are seldom...

In this study we report an attempt to measure the value adult Swedes impute to an increased survival probability at high ages. A rating scale between the worst possible quality of life (=3D1) and the best possible quality of life (=3D10) is used to indicate the quality of life a person expects...

In this study we report an attempt to measure the WTP of car owners for a reduction of the probability of being killed in a traffic accident. One group of respondents is offered a safety device to be installed in their car, while another group is offered a public safety program (improved road...