This paper explores inconsistencies that occur in utility measurement under risk when expected utility is assumed and the contribution that prospect theory and some other generalizations of expected utility can make to the resolution of these inconsistencies. We used five methods to measure...

This paper tests the consistency of health utility measurements with individual preferences. We compare three methods, the time trade-off, the standard gamble and a version of the standard gamble that corrects for the deviations from expected utility modeled by prospect theory. Individual...

The classic preference reversal phenomenon arises in a comparison between a choice and a matching task. We present a new type of preference reversal which is entirely choice-based. Because choice is the basic primitive of economics, the preference reversal we observe is more troubling for...

Background: In order to allocate health care resources more efficiently it is necessary to relate health improvements provided by new medicines with their cost. It is necessary to ascertain when the additional cost of introducing a new health technology is justified by the additional health gain...

Este proyecto tiene como objetivo estimar las utilidades asociadas a los estados de salud definidos mediante el sistema EuroQol-5D a partir de la medición directa de las preferencias de una muestra de la población andaluza. Los valores obtenidos serán susceptibles de ser utilizados en el...

We estimate the demand for education in Spain, and use the estimated demand curve to analyze whether the evolution of the education wage premium in the 1980s and 1990s can be explained by a demand-supply framework. We find that growth in the demand for education in the 1980s was very similar to...

This paper analyzes public intervention in education, taking into account the existence of two educational levels: basic education and college education. The government decides per capita expenditure at each level and the subsidy for college education. We explore the effect of transferring money...

In this paper we analyse the link between trade and migration. Focusing in the experience of Spain, we relate a marginal index of intra-industry trade with the stock of foreign workers - classified according to their country of origin and their situation in the Spanish labour market. We focus on...

The main idea of this paper is to analyse the relationships between the productive process and the commercial trade with water resources used by them. For that, the first goal is to find out, by means of the estimation of virtual water, the exported crops which have the highest water...

In this paper we provide a theoretical foundation for the Porter hypothesis in a context of quality competition. We use a duopoly model of vertical product differentiation where firms simultaneously choose the environmental quality of the good they produce (which can be either high or low) and,...