We consider sequences where a subset of public goods are systematically being created or destroyed. For the case of strict Hicksian substitutes between all pairs of this subset of public goods, we show that willingness to pay for an increase in a particular public good is strictly decreasing the...

A literature search provides 83 studies from which 616 comparisons of contingent valuation (CV) to revealed preference (RP) estimates are made. Summary statistics of the CV/RP ratios are provided for the complete dataset, a 5 percent trimmed dataset, and a weighted dataset that gives equal...

Conventional analysis of public goods provision aggregates individual willingness to pay while treating income as exogenous, ignoring the fact that we generate income to allow us to purchase utility-generating goods. We explore the implications of endogenizing the labor/leisure decision by...