This paper outlines DEBET (Decision Based Economic Theory), a method for determining revealed preferences of governments. DEBET is applied to US wheat policy decisions in the 1980s. This method has a number of advantages over alternative approaches to the analysis of revealed preferences of...

Decision based economic theory stresses the central position of the objective function in the behavior of economic agents. Insufficient knowledge of objective functions hampers the development of economic theory. In this article, a methodology for deriving objective functions from conscious...

This paper analyses costs and benefits of planting trees on marginal lands across forestry zones in Ukraine with the purpose of using them for timber production, erosion prevention and climate change mitigation. The research reveals that establishment of new forests to increase timber production...

Investment models typically explain only a small share of the total investment variation within or between firms. A reason for this may be that those models do not explicitly differentiate between the decision to invest and the decision about the level of investment. In this paper, a two-steps...

This paper examines the changes in nutritional behavior of Russian adults over the ten-year transition period, between 1994 and 2004. We present evidence on the impact of individual as well as regional characteristics on changes in fat, protein, alcohol and cigarette consumption, and on...

This paper explores a new compensation standard for use in agricultural land conversion in China during the land-expropriation process, based on the market value definition. Assuming identical bargaining power between the buyer and the seller, efficient and equitable compensation is obtained...

This study develops a microeconometric model of specialized dairy farms in the Moscow region using panel data over the period 1995-2001. The model is used to analyze the role of subsidies on profit as well as input and output allocation. Theoretical conditions for short-term profit maximization...

The entry and exit decisions, considered as investment decisions, are investigated in the paper. Taking into account the heterogeneity of entry and exit, the analysis is based on two types of entry-exit: real (related to the establishment or closing of a firm), or entry-exit in a new sector...

There is some confusion in the literature on the consumption behaviour of farmers. We try to clear up some of the issues surrounding this confusion by elaborating and testing a model. Euler equations have been derived from a constant relative risk aversion utility function for total consumption...

This study develops a micro econometric model of specialised dairy farms in Moscow Region using panel data over the period 1995-1998. The model is used to analyse the role of input and output subsidies in the on-farm decision making. Theoretical conditions for short term profit maximization and...