We study the determinants of individual attitudes toward risk and, in particular, why some individuals exhibit extremely high risk aversion. Using data from the Panel Study of Income Dynamics, we find that policy induced increases in high school graduation rates lead to significantly fewer...

We discuss the recent emergence of ‘deliberative ecological economics’, a field that highlights the potential of deliberation for improving environmental governance. We locate the emergence of this literature in the long concern in ecological economics over the policy implications of limited...

Schumpeter's and Hayek's view of market coordination as being not about efficiency, but about endogenous change and never-ending discovery has been increasingly recognized even by the mainstream of economics. Underlying this view is the notion of creative learning agents who bring about novelty....

This paper attempts to detect the existence of links in consumption patterns between generations. Preferences for consumption goods may be determined by the preferences of parents and/or by preferences arising from the environment. We propose an indirect methodology to overcome the lack of data...

This paper surveys lessons from psychology and behavioural economics that could readily be incorporated into the economics classroom to provide a pluralistic approach to teaching welfare economics and enhance the ability of economics graduates to make contributions to policy analysis. It focuses...

We address empirically trust as a determinant of support for government intervention. The central notion provided in the present paper is that the influence of generalized social trust on intervention attitudes is conditional on the perceived reliability, honesty, and incorruptibility of state...