This paper introduces a new method to calculate the extent to which individuals are willing to trade money for improvements in their health status. An individual welfare function of income (WFI) is applied to calculate the compensating income variation of health impairments. We believe that this...

In this article, we use a unique data set on criminal behaviour to analyse the effects of education on offences and crimes committed. The findings suggest that substantial savings on the social costs of crime can be obtained by investing in education. We find that the probability of committing...