Since the 1980s, there has been explosive growth in the use of experimental methods in economics, leading to exciting developments in economic theory and policy. Despite this, the status of experimental economics remains controversial. In Experimental Economics, the authors draw on their...

In this paper we derive a set of conditions that is both necessary and sufficient for the consistency of QALY based decision making with life-cycle preferences over consumption and health status. Cost benefit analysis is always consistent with life-cycle preferences over consumption and health...

Contingent valuation (CV) has been widely used to measure the potential benefits derived from different policy decisions. However, doubt now exists about the validity of the CV method and alternative approaches to benefit valuation have been proposed. The paper reports on the results of a study...

Kiindulópontom az, hogy a közgazdaságtanban a modellépítésnek akkor és csak akkor van komoly célja, ha azzal tényleg a valóságos világról akarunk valamit közölni. Azzal, hogy a „valóságos világ” kifejezéssel élek – ahogy a fejezet további részeiben is –, azonnal...