A general assumption of the standard hedonic price model is that producers produce outputs/services efficiently, and deviations from this situation are assumed to involve either overcharging or undercharging. We consider an alternative hedonic model, where we assume that, among the alternative...

A general assumption of the standard hedonic price model is that producers produce outputs/ services efficiently, and deviations from this situation are assumed to involve either overcharging or undercharging. Using the profit maximising behaviour, we derive an alternative hedonic model to show...

Within the last decades an increasing number of people practice risky sports in their leisure time. Although there exists a vast number of economic literature on risk-taking behavior, an estimation of the individual willingness to pay (WTP) for the option to exercise risk-taking is missing....

This paper investigates the factors that influence the change in passenger ski-lift transports between a normal winter and an anomalously mild winter based on individual lift and aggregate ski-area data. Special focus is placed on the return on investments in new ski lifts. Using endogenous...