We propose a method for cost-benefit analysis of public policies that identifies potential Pareto improvements when losers from a reform are compensated through income tax changes. Reforms are desirable when they decrease aggregate excess burden in commodity and labor markets. This condition is...

Behavioral economics has so far largely avoided discussing the psychological origins of preferences, as well as their relation to needs. This has not only restricted interdisciplinary exchange, but also significantly limits the predictive capabilities of models. For example, the revealed...

The crises of both the climate and the biosphere are manifestations of the imbalance between human extractive, and polluting activities and the Earth's regenerative capacity. Planetary boundaries define limits for biophysical systems and processes that regulate the stability and life support...