The work illustrates that not all non-economic behavior is beyond economic analysis. The maintained assumption as economists is that individual behavior is consistent with self-interest. At its weakest, self-interest only means that choices conform to some underlying preference ordering that is...

One of the only places where environmental quality is traded on explicit markets is real estate. There are several techniques that can be used to study the effects of environmental quality on property values and infer willingness to pay for improvements. The most commonly used method is the...