The subjective value of time is the marginal rate of substitution between travel time and travel cost under constant utility or profit level. It is commonly referred to as the monetary appraisal of value of time or the willingness to pay for savings in travel time. This study proposes methods to...

This paper analyzes the political economy of government debt when elected politicians decide about the distribution of public funds between a clean and a polluting public good. When provision of the polluting good creates a stock of climate externalities, strategic incentives for the incumbent...