The 1980s and 1990s have been a period of exciting new developments in the modelling of decision-making under risk and uncertainty. Extensions of the theory of expected utility and alternative theories of `non-expected utility' have been devised to explain many puzzles and paradoxes of...

While technological progress has fostered the conception of an urban society that is increasingly decoupled from ecosystems, demands on natural capital and ecosystem services keep increasing steadily in our urbanized planet. Decoupling of cities from ecological systems can only occur locally and...

A major strength of the ecosystem services (ESS) concept is that it allows a succinct description of how human well-being depends on nature, showing that the neglect of such dependencies has negative consequences on human well-being and the economy. As ESS refer to human needs and interests,...

Attitudes towards risk are measured for households in Northern Zambia using an experimental gambling approach with real payoffs that at maximum were equal to 30% of average total annual income per capita. The results of the experiment show decreasing absolute risk aversion and increasing partial...

Government of Pakistan has taken several measures in recent years for conserving electricity to reduce its electricity shortfall. In this context, this study attempts to quantify the impact of different electricity conservation policies on value-added of industrial and services sectors in...