The effects of price and market size variables on the investment propensities in the pulp and paper industry are analyzed. A panel of 15 European countries for the time period 1984 - 1997 is used in the regression analysis. We find that the wages, the $US/ECU$ exchange rate, the price of paper...

Previous studies indicate that the general public would prefer to reallocate medical resources from old people to young ones, and also has a low WTP for measures that increase the survival probability at an advanced age. In this paper, we present an analysis of the value of a ‘blip’, i.e. an...

In this paper we consider the possibility of using ‘green’ welfare change measures as the basis for cost-benefit analysis of new projects. Such green welfare change measures look very similar to what one would expect a cost-benefit analysis of the entire economy to look like. It is shown...

In this note, we analyze the behavior of a firm that has a (stochastic) market power due to a patent. For example, we show how to handle the stock aspects of R&D activities (the accumulation of human capital in a firm). In fact, when the R&D stock enters the survival probability of the firm's...