We estimate the changes in value of recreational boating with a dredging program along the Atlantic Intracoastal Waterway (AIWW) in North Carolina. We use willingness to pay data from the contingent valuation method and stated preference data on trip changes. Willingness to pay depends in...

The failure of foreign aid to promote growth in the developing world has received significant attention as evidence suggests that foreign aid does not translate into investment. This research has demonstrated that poor institutions in these developing economies (particularly with respect to...

In wrongful death and personal injury litigation, the amount of compensation depends on the difference between the interest rate that the plaintiff is expected to earn by investing the award and the rate of wage growth that the plaintiff would have been expected to receive in the pre-injury...

Models for voluntary provision of public goods predict free riding is rational unless the model includes a motive for the act of giving referred to as a “warm glow” in the literature. The source for this warm glow is likely to include the gratitude of the recipient. The experimental setting...

This paper contributes to the widespread discussion of the sources of the divergence between WTA and WTP values. The paper reports on theoretical and empirical investigations which show that value and outcome uncertainty offer an explanation for this disparity. Given a set of hypotheses...