Investors in financial markets face several restrictions apart from wealth constraints. The first attempt to understand these restrictions in a general competitive equilibrium framework can be traced back to Radner (1972). Here these restrictions are assumed to be given exogenously, as first...

In the absence of markets for environmental quality, researchers resort to stated and revealed preference techniques to estimate the benefits of environmental programs. One of the most widely used revealed preference approaches is hedonic property value models, where the value of an...