Cultural theory has attracted considerable interest in the study of risk regulation. There has, however, been a lack of a systematic interest in its claims and in methodological issues. In this paper, we present seven claims that are either directly drawn from central claims of cultural theory...

The concept of time discounting introduces weights on future goods to make these less valu- able. Famously, both the specic functional form of time discounting and its normative sta- tus are contested. To address these problems, this paper provides a measurement-theoretic framework of...

One of the most cherished propositions in economics is that market competition by and large raises consumer welfare. But whether political competition has similarly virtuous consequences is far less discussed. This paper formulates a model to explain why political competition may enhance...

Market liquidity is typically characterized by a number of ad hoc metrics, such as depth, volume, bid-ask spreads etc. No general coherent denition seems to exist, and few attempts have been made to justify the existing metrics on welfare grounds. In this paper we propose a welfare-based...

This paper considers the key problems confronting the Pakistan Planning Commission, briefly examines the essentials of planning for a mixed economy, draws lessons from the experience of countries, both developed and developing, that have formulated and implemented successful plans, and suggests...

Recent work (including that of the author) on the impact of FDI has been based on microlevel (i.e. firms, establishments or plants) data, since this allows much greater control when examining such issues as whether FDI plants are more productive or innovative; whether there are spillovers to...

Union membership rose by 100,000 in 1999 ending two decades of sustained membership losses û the longest, deepest decline in British labour history yielding a cumulative fall of over 5 million members. This paper analyses that haemorrhage in membership and asks whether or not the recent...

Detailed education, employment and training histories have been constructed for a cohort of 440 male respondents from the National Longitudinal Survey of Youth. The data show that most respondents without college degrees have experienced at least one occupational break, defined as a change from...

In recent years, the third or voluntary sector has become more important for ‘Europe’, as indicated by the 1997 Communication of the European Commission and various Declarations attached to the EU Treaties. These official statements not only suggest greater political interest in the third...