Despite the potential energy savings and economic benefits associated with compact fluorescent light bulbs (CFL's), their adoption by the residential sector has been limited to date. In this paper, we present a theoretical model that focuses on the agents' ability to perceive the correct cost of...

This paper explores the potential of using subjective well-being (SWB) data to value environmental attributes. A theoretical framework compares this method, also known as the lifesatisfaction approach, with the standard hedonic pricing approach, identifying their similarities and differences. As...

Deforestation primarily affects developing countries. Most developing countries share two characteristics: (1) trade liberalization reforms in the last two decades, and (2) weak property rights and limited rule of law. This paper investigates this second-best world; first, in a stylized model in...

This paper examines the impact of national fiscal measures in the EU (EU15) on passenger car sales and the CO2 emissions intensity of the new car fleet over the period 1995-2004. CO2 emissions and energy consumption from road transport have been increasing in the EU and as a result since 1999...

This paper presents a simple way for countries to reap the benefits of trade liberalization without exacerbating problems of overexploitation of natural resources. In the context of a Ricardo–Viner dynamic trade model, it is shown that when a binding quantitative restriction regulates...

One of the most controversial planning issues internationally is the siting of waste disposal infrastructure in local communities. Compensation is viewed as a possible solution to siting difficulties in many countries. However, existing empirical evidence is conflicting as to whether or not...

Mainstream neoclassical economics takes it as given that the consumption of goods and services (output) is positively related to well-being. Work (labour-input) is assumed to be negatively related to well-being at the margin and so is only undertaken in exchange for payment. This view has been...

The World Bank recently began publishing estimates of countries' "genuine savings": a comprehensive measure of net investment across all forms of capital (natural and human as well as produced). This article presents the first empirical investigation of the consistency of the Bank's estimates...