Little theoretical work has been done previously on the welfare valuation of changes in price and quality when consumers are imperfectly informed. The presence of imperfect information is particularly important in the analysis of averting behaviors. We develop a theoretical welfare measure,...

Higher union density (the percentage of employees in an area who belong to unions) is known to raise the wages of union members. We find that in the supermarket industry, higher density locally also leads to higher wages for non-union members. Despite this, workers who are not in unions lose...

The 1996 Farm Bill (FAIR) dramatically changed agricultural policy for producers of many commodities. A series of 7 annual decoupled payments replaced the deficiency-payment program. Option-pricing techniques are used to determine whether program benefits to corn producers are smaller or larger...

Conventional measures of gross domestic product (GDP) fail to account for the effect of economic activity on the environment. Integrated environmental-economic (or 'green') GDP is calculated using a data-envelopment-analysis (DEA) framework. For this purpose a dynamic cross-country technology is...

Higher union density (the percentage of employees in an area who belong to unions) is known to raise the wages of union members. We find that in the supermarket industry, higher density locally also leads to higher wages for non-union members. Despite this, workers who are not in unions lose...

The paper provides a methodology that is feasibly implemented for integrated environmental-economic (or 'green') GDP accounting and productivity measurement. The shadow prices for environmental inputs, which enable us to calculate green GDP and to design a pollution tax scheme and tradable...

When economic actors are also allowed to become politically active, perhaps to influence a government price policy, they face decision problems with essentially simultaneous political and economic features. If, in addition, two groups struggle to pull the administered price level in opposite...

Suppose that members of a society are accorded status as both economic and political agents. If the polity responds to the same actors for whom economic policy matters, a simultaneity of political and economic determination is introduced. The first goal of the research presented here concerns...

The purpose of this paper is to estimate the impact of the new unit-based pricing system (UPS) for food waste on the volume of solid waste collected, accounting for the effect of cross price elasticity and environmental activism. Based on causal inference using a natural experiment with a...