Of great importance to management, the computation of trade-offs presents particular difficulties within DEA since the piecewise linear nature of the envelopment surfaces does not allow for unique derivatives at every point. We present a comprehensive framework for analyzing marginal rates, and...

An important paper by Chiappori et al. (2012) has proposed an elegant and parsimonious model of spousal matching over multi-dimensional characteristics. Importantly, the model suggests specific testable assumptions that allow researchers to uncover marginal rates of substitution (MRS) between...

A target to reduce phosphorus flows into the Gippsland Lakes in south-eastern Australia by 40 per cent to improve water quality has previously been established by stakeholders. An integrated analysis at the catchment scale is undertaken to assess the agricultural land management changes required...

Poverty and wellbeing are multi-dimensional. Nobody questions that deprivations and achievements go beyond income. There is, however, sharp disagreement on whether the various dimensions of poverty and wellbeing can be aggregated into a single, multi-dimensional index in a meaningful way. Is...

Using tests of a single equation model and cointegration techniques, this paper finds no evidence of a long run trade-off, and some evidence of a short-run trade-off, between military spending and investment in post-World War II United States data. The short-run trade-off is confined to the...

This study contributes to the literature by estimating discount rate for environmental health benefits and value of statistical life of workers in India. The discount rate is imputed from wage-risk trade-offs in which workers decide whether to accept a risky job with higher wages. The estimated...

Poverty and well-being are multidimensional. Nobody questions that deprivations and achievements go beyond income. There is, however, sharp disagreement on whether the various dimensions of poverty and well-being can be aggregated into a single, multidimensional index in a meaningful way. Is...

Corporate finance theory provides a number of competing hypotheses for explaining the capital structure choice of firms. The major ones are the 'trade-off' theory, which hypothesises an optimal combination of debt and equity capital, and the 'pecking-order' theory, which suggests a ranking order...

Protecting environmental services generates social benefits. At the same time, private landholders supplying these benefits may face some costs. To provide these services efficiently, policy makers need information about community values for the environment as well as landholders’ costs. This...

Poverty and well-being are multidimensional. Nobody questions that deprivations and achievements go beyond income. There is, however, sharp disagreement on whether the various dimensions of poverty and well-being can be aggregated into a single, multidimensional index in a meaningful way. Is...