This study explores the effects of air pollution on self-reported health status and the health related costs in UK. The estimates are based on data from the British Household Panel Survey (BHPS). The effects of air pollution on individuals' health status are estimated and their monetary value is...

In the study of decision-making, the classical view of behavioral appropriateness or rationality was challenged by neuro and psychological reasons. The “bounded rationality” theory proposed that cognitive limitations lead decision-makers to construct simplified models for dealing with the...