This study presents a framework to analyze how uncertainty about product attributes affects consumers' WTP for brand name products over generic ones, incorporating key elements of a random utility model and product attribute models. We found that in comparison to electronics, clothing, and...

The study examines the least-cost option of conserving landraces in-situ by the development of market friction instruments. The empirical examination is comprised of two closely-related studies on eggplant production and consumption sectors of India. An examination of the cost and return...

This paper combines the Becker family production model with a cooperative bargaining model to analyze power distribution within the family. Family consumption decisions are often made by one person, but for several people, suggesting traditional decision theory is inadequate. Using data gathered...

We develop a model of regulation of environmental risks in a heterogeneousindustry when policy makers are sensitive to uncertainties about the processes generating the risks. Optimal source reduction capacity is shown to vary according to site suitability. Optimal source reduction capacity and...

This paper derives a method to quantify the short- to medium-run impact of biofuel on fuelmarkets, assuming that these markets are dominated by cartel of oil-rich countries, and that pricesin these countries are set to maximize the sum of domestic consumer and producer surplus, leadingto a wedge...