The purpose of this paper is to consider the effects of an efficient charge scheme on the generation of production externalities in the context of a two-firm model. The model suggests that, in the absence of such charges, firms are likely to select new technologies which increase residual...

This paper evaluates whether the property value capitalization effects measured with quasi-experimental methods offer reliable estimates of willingness to pay for changes in amenities. We propose the use of a market simulation as a robustness check. Two applications establish the method’s...

This paper proposes the use of consumers’ preferences in formulating policies for keeping secret information about terrorist activities and threats that might compromise future security. We report the results from two surveys indicating that support for government secrecy varies across...

The importance of increments to an existing highway system depends upon their contributions to the accessibility provided by the existing network. Nearly 40 years ago, Mohring [1965] suggested this logic for planning optimal highway investment programs. He argued it could be implemented by...

This paper has two objectives. First, we identify a problem with the ability of the discrete-continuous choice framework and conditional demand functions to fully describe consumer preferences in the presence of kinked budget constraints. Second, we propose and illustrate an alternative,...