Markets for many products are dominated by small group of states or countries with a natural advantage in the marketplace because of some initial endowment of resources, favorable climate, or location. The purpose of this paper is to explore how such ...

Insensitivity to payment schedule, wherein respondents do not adequately differentiate between a one-time payment and a series of payments may be an important, but often overlooked factor in the design, interpretation, and use of contingent valuation studies. Several contingent valuation...

Existence values are playing an increasingly important role in wildlife preservation decisions, but little is known about how these values behave over time, and value estimates may often be misinterpreted. Panel study results suggest that although existence values may be relatively stable, many...

Two research programs are brought together to contribute to the growing body of work on alternatives to standard welfare-based approaches to environmental valuation and policy. The first is the theoretical literature undermining the "new welfare ...