This paper analyses the priorities and challenges for Europe as it adapts to the impacts of climate change. Whatever the ultimate level of warming we will experience, adaptation will be a permanent feature of decision making from now on. As such it is important to go about it in a strategic,...

We examine the value of sporting success to the German population at two major sport events in 2012, the European Championships in football and the London Olympic Games. Using the contingent valuation method (CVM), this study is the first to compare the value of sporting success between two...

This paper examines the efficacy of three conditional cash transfer (CCT) programs in Honduras, Mexico, and Nicaragua in mitigating the potential negative effects of an income shock caused by falling prices of coffee, an important cash crop to many CCT participants. A theoretical household model...

This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...

This paper explores how a principal with time-inconsistent preferences invests optimally in technology or capital. If the current principal prefers her future self to save more, she can increase current investments complementary to future savings and decrease investments in the strategic...

This paper estimates the labor market effects of being awarded with a training voucher using an instrumental variable approach. In Germany all public sponsored further training programs are allocated through vouchers and the system, we study here, thus represents a major case of the use of...

In many empirical Contingent Valuation studies one finds that household size, i. e. the number auf household members, is negatively correlated with stated household willingness to pay for the realization of environmental projects. This observation is rather puzzling because in larger households...

Solar radiation management (SRM) could quickly offset global warming caused by anthropogenic greenhouse gas emissions. Because SRM would have global side effects, it raises not only technological but also political and social concerns. Therefore, SRM research should be accompanied by a global...

Evaluation of climate policies and other issues requires a variable population setting where population is endogenously determined. We propose and axiomatize the rank-discounted critical-level utilitarian social welfare order. It is shown to ll out the space between critical-level utilitarianism...

This paper summarizes our recent work on the rate of return and cost-benefit ratio of an influential early childhood program.