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-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility (wanting) are disentangled from the …
Persistent link: https://www.econbiz.de/10010286755
In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …
Persistent link: https://www.econbiz.de/10010263885
The concept of utility is often used in ambiguous ways in economics, from having substantive psychological connotations … conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not … eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. …
Persistent link: https://www.econbiz.de/10010267093
Persistent link: https://www.econbiz.de/10011696497
Increasing environmental awareness may affect the pleasure of consuming a good for which an environmental friendly substitute is available. When deciding to buy differentiated products, a compromise is sometimes made between preferred characteristics of the good and its environmental properties....
Persistent link: https://www.econbiz.de/10011325100
Environmental policy affects the distribution of market shares if intermediate goods are differentiated in pollution intensity. When innovations are environmental friendly, a tax on emissions skews demand towards new goods, which are the most productive. In this case along a balanced growth path...
Persistent link: https://www.econbiz.de/10011335685
In a dynamic general equilibrium model we explictly consider the relationship between the product attributes 'durability' and 'recyclability'. Both efficiency and sustainability aspects are taken into account. It turns out (a) that durability may be inefficient even in a perfectly competitive...
Persistent link: https://www.econbiz.de/10010322078
This paper examines a Waste Management Organisation's (WMO) pricing options to implement the Pareto-efficient allocation in an economy where materials are first extracted, then used for producing a consumption good and finally recycled or landfilled. The WMO is established by the producers who...
Persistent link: https://www.econbiz.de/10010322082
This paper studies the market allocation in an economy where material is used for producing a consumption good, then recycled and finally landfilled, and where a recycling firm has market power. The material content constitutes an aspect of green product design and affects the recycling costs....
Persistent link: https://www.econbiz.de/10010322087
Voluntary agreements with industry offer many examples of overcompliance with respect to environmental standards. Such phenomena seem to be irrational but appear less surprising considering firms' strategies are aimed to internalise environmental quality. We model the choice of the environmental...
Persistent link: https://www.econbiz.de/10011608537