The usual explanations for superstar effects---when a firm’s revenue is positive and convex in quality, and a few firms earn a large share of market revenue---are imperfect substitution between sellers, low marginal cost of output, and marginal cost declining as quality increases. Herein, a...

This paper extends the well known rational interest voting (rational voter) model to include a composite measure to capture the residual effects of internal, sociological motives not previously accounted for in empirical studies of general election voting. These motives are referred to here as...

Past discussions about economic efficiency and personal injury torts have focused on the relationship between the optimal amount of care a potential injurer should take for economic efficiency. Typically this discussion has assumed that the economic damages are strictly monetary without any full...

In this paper we propose an alternative model for linking revealed preference and stated preference models of recreation when a single travel cost measure is difficult to obtain. We show that this model can be used to test convergent validity and offers an alternative scope test that does not...

The U.S. Fish and Wildlife Service's National Survey of Fishing, Hunting, and Wildlife Associated Recreation has been a source of information on wildlife-related recreation since 1955. The contingent valuation method has been used to estimate willingness to pay for recreation trips in the 1980,...

We estimate the willingness to pay for low probability, low loss hazard insurance with the contingent valuation method. The application is to household hurricane evacuation cost insurance – a new product for which there is currently no market. We find that a majority of respondents would not...