The welfare gain to consumers from the introduction of personal computers is estimated here. A simple model of consumer demand is formulated that uses a slightly modified version of standard preferences. The modification permits marginal utility, and hence total utility, to be finite when the...

We analyze the effects of uncertainty on WTA, WTP and the WTA–WTP gap. Extending the approach of Weber (Econom Lett 80:311–315, <CitationRef CitationID="CR17">2003</CitationRef>) to the case of lotteries, we develop an exact expression for the WTA–WTP gap that allows identification of its magnitude under different utility...</citationref>

This paper presents some theoretical foundations underlying the welfare analysis that can be established in order to quantify the impact on consumers, when an agent violates the rights of purchaser and such behavior is reflected in a price increase. This exercise allows us to conclude that if it...

The welfare gain to consumers from the introduction of personal computers is estimated here. A simple model of consumer demand is formulated that uses a slightly modified version of standard preferences. The modification permits marginal utility, and hence total utility, to be finite when the...

Regional estimates of direct cost (DC) are commonly used to measure the economic damages of sea level rise. Such estimates suffer from three limitations:(i) values of threatened endowments are not well known, (ii) loss of endowments does not affect consumer prices, and (iii) international trade...

This paper explores the introduction of collective risk-sharing elements in defined contri-bution pension contracts. We consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate welfare, as measured by equiva- lent variations....

This paper proposes a theory for the social evolution of obesity. It considers a society, in which individuals experience utility from consumption of food and non-food, the state of their health, and the evaluation of their appearance by others. The theory explains why, ceteris paribus, poor...

A fat and a healthy good provide immediate gratification, and cause health costs or benefits in the long run, which are misperceived. Additionally, the fat good (healthy good) increases (decreases) health care costs by increasing (decreasing) the probability of suffering from a chronic disease...