Many discounting choices affect both the decision maker as well as others. The interpersonal nature of these choices is not well explored because the current empirical literature primarily focuses on estimating individual discount rates (IDRs). We design a laboratory experiment to elicit...

Mitigation ameliorates the impact of natural hazards on communities by reducing loss of life and injury, property and environmental damage, and social and economic disruption. The potential to reduce these losses brings many benefits, but every mitigation activity has a cost that must be...

Risk aversion is well established in the health and safety literature, and ambiguity is addressed in theoretical and experimental economics literature, but few theoretically-consistent empirical models addressing the relationship between ambiguity, risk, and preferences exist. Even fewer address...

A model of recreation demand is developed to determine the role of water levels in determining participation at and frequency of trips taken to various federal reservoirs and rivers in the Columbia River Basin. Contingent behavior data are required to break the near-perfect multicollinearities...

The cost of travel time has commonly been incorporated in recreation demand models as some fucntion of the wage rate. This paper proposes a new methodology of determining the value of leisure time. The proposed method is compared to other alternatives and shown to yield more appropriate welfare...

We devise a simple model of intergenerational altruism under uncertainty. We present an estimable form of the model that relies on a few, plausible, assumptions. We apply the model to data collected in a survey of Southern Nevadans concerning the proposed Yucca Mountain Nuclear Waste Repository...

Using a laboratory experiment, we investigate the validity of stated risks elicited via the Exchangeability Method (EM) using an evaluation method based on de Finetti’s notion of coherence, under which probability estimates are valid if and only if they obey all axioms of probability theory....

The validity of risk estimates elicited through the Exchangeability Method (EM) has been theoretically questioned because the use of chained questions may undermine the incentive compatibility of the game even when subjects are rewarded with real monetary incentives. In this paper, we examine...