It is shown that the equivalence of tariffs and quotas is not valid if one defines equivalence in terms of welfare. In a duopoly where a home and a foreign firm compete on a domestic market, an optimal quota leads to a lower welfare than an optimal tariff. Still, any import quantity can be...

One of the striking phenomena in recent stock market history is the continuous rise in stock prices. Classical explanations for this phenomenon have argued that these apparently high valuations are either caused by measurement error in accounting data, or by high expected future growth in...

In this paper, we use the hedonic approach to estimate the value of a statistical life based on the 1995 Swiss Labour Force Survey (SLFS) and the 1994 Swiss Wage Structure Survey (SWSS). Roughly, the value of a statistical life in Switzerland ranges from CHF 10 to 15 million (6.5-9.5 million...

The human costs of cirrhosis of the liver are valued in monetary units using a two-step procedure. In the first step, the standard gamble method is applied in order to assess a health quality index for the disease. The quality index is then converted into francs. The human costs represent the...

Contingent valuation is based on the hypothesis that people are able to estimate an improvement of their well-being in terms of income reduction and that the value they give can be assimilated to a price. To test this assumption we ran 73 in-depth interviews with persons suffering from air...

In this study we investigate the determinants of R&D activities of Swiss firms abroad and discuss the resulting explanation pattern in the light of the debate taking place at the time in economics with respect to the possibility of a positive (complementarity hypothesis) or a negative impact...

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