The Human Capital (HK) and Statistical Life Values (VSL) differ sharply in their empirical pricing of a human life and lack a common theoretical background to justify these differences. We first contribute to the theory and measurement of life value by providing a unified framework to formally...

We correct an analysis by Isik (2004) regarding the effects of uncertainty on the WTA-WTP gap. Isik presents as his primary result a proposition that the introduction of uncertainty regarding environmental quality improvements causes WTA to increase and WTP to decrease by identical amounts...

In this paper, distribution and welfare effects of changes in block price systems are evaluated. A method is discussed to determine, for a Marshallian demand function, equivalent variation in case of a block price system. The method is applied to analyze welfare and distribution effects of...

The deregulation of the Swedish electricity market in 1996 affected both the market design and the pricing of electricity. Since 1996, the electricity price faced by consumers has increased dramatically. Due to the high electricity price and large company profits, a debate about the success of...

In response to global opportunities and domestic challenges, Ethiopia is revising its energy policy to switch from high-cost imported fossil fuel to domestically produced biofuels. Currently, there are biofuel investment activities in different parts of the country to produce ethanol and...

In many instances the consumer faces choice settings where the alternatives are discrete. Examples include choice between variants of differentiated products, urban transportation modes, residential locations, types of education, etc. So far, a Slutsky equation for discrete choice models has not...