Member countries of the Economic Community of West African States (ECOWAS) are expected to form a West African Monetary Zone (WAMZ) by 2004 whereby member countries would use a common currency in an attempt to promote regional integration. Evidence suggests that reduction in transaction cost as...

This paper compares two estimation methods of a three-stage least squares (3SLS) system of equations, corrected for spatial autocorrelation. The modeling approach is novel in that it is an extension of Anselin's (1988) seemingly unrelated regression (SUR) space-time spatial error model for panel...

This paper provides a critical review of the literature on non-market valuation methods to estimate the welfare impact of novel products; it is the first study to assess both observed data- and perception-based methods as non-market valuation methods. Observed databased methods include budgets,...