This paper revisits the welfare economics of fashion from the standpoint of evolutionary economics. Whilst accepting that fashion-focused consumption may have an element of status-seeking behaviour about it, which may be of questionable value in welfare terms, the paper emphasizes that fashion...

In recent years, payment systems have benefited from technological developments that have accelerated their evolution and adaptation to user needs. Payment systems ultimately depend on central bank money, and the debate about the advisability of updating the different ways of representing this...

This paper presents the methodology used in developing a fully-functional mode choice module capability to be incorporated into the Brisbane Strategic Transport Model (BSTM); capable of estimating mode shares in a multi-modal travel environment. The new mode choice module consists of unique...

The focal point of the revealed preference (RP) valuation literature, including recreation demand and random utility maximization (RUM) models, has been on eliciting the “use” value associated with environmental amenities; i.e., that portion of value associated with direct use of a resource....

A hedonic valuation strategy is introduced to estimate the marginal value of sportfishing harvest. The strategy uses market prices, thereby avoiding some of the measurement problems associated with the constructed or proxy prices used in common valuation methods. A charter fee hedonic equation...

Overall wine consumption in Spain is decreasing while, at the same time,Designation of Origin (DO) wine consumption is increasing gradually. This studyexamines Spanish DO wine consumer behaviour through stated preferences (SP) andrevealed preferences (RP) data. Part-worth utilities are...

In this article we present results from a study of recreation demandfor southern North Carolina beaches. We combine revealed preference andstated preference data in order to estimate the changes in recreation demandthat might occur with beach nourishment and parking improvements necessaryto...