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A growing literature in economics uses subjective well-being data collected in surveys as a proxy for utility. Environmental economists have combined these data with the public goods experienced by respondents using a novel non-market valuation approach: the experienced preference approach. In...
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In a 'smart' electricity distribution network, flexible distribution resources (FDRs) can be coordinated to improve efficiency. But coordination enables whoever controls such resources to exercise market power. The paper establishes the following efficiency rankings of market structures:...
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Using information on life satisfaction and crime from the European Social Survey, we apply the life satisfaction … reduce life satisfaction across Europe. Building upon these results, we quantify the monetary value of improvements in public … safety and its valuation in terms of individual well-being. The loss in satisfaction for victimized individuals corresponds …
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