Using equivalent loss (the monetary loss equivalent to a proposed amenity reduction, EL) and equivalent gain (the gain equivalent to a proposed amenity increase, EG) alongside traditional welfare measures in a contingent valuation study of traffic disamenity, we report an experiment designed to...

A theory is proposed in which preferences are conditional on reference points. It is related to Tversky and Kahneman’s reference-dependent preference theory, but is simpler and deviates less from conventional consumer theory. Preferences conditional on any given reference point satisfy...

This book explores frontier work at the intersection of experimental and environmental economics, with cutting edge research provided by premier scholars in the field. The book begins by focusing on improving benefit–cost analysis, which remains the hallmark of public policy...

This paper considers nine possible reasons why firms might trade less often in permit markets than was expected in the early development, and consequent simulations, of the theory. Fewer trades are bad in the sense that they lead to a potential erosion of the cost-saving properties of tradeable...

We provide an examination of the linkage between environmental regulation stringency and the demand for and supply of abatement goods and services. To that end we construct a five-equation simultaneous model that links environmental regulation stringency to abatement output through various...

In many countries, spouses routinely hide income, consumption and assets from one another. In this paper, I provide a theoretical model in which hiding is costly and only some expenditure can be hidden. I characterise the set of ex ante Pareto efficient allocations and show by means of extended...

Dyson and Moore (1983) posit that women in South India enjoy relatively more agency than in the North. Their conclusions have become part of the standard picture of Indian rural society. In this paper, we examine using experimental data the implications of this regional contrast in female...