Willingness to pay (WTP) estimation typically involves some strategy for mapping nondichotomous contingent valuation (CV) responses onto a dichotomous yes/no dependent variable. We propose a new approach to selecting which responses qualify as ‘yes.’ We apply the proposed method to...

In this article we develop a general conceptual model of a property-owner’s decision to implement actions to protect his property against wildfire threat. Assuming a prospective-utility maximizing decision maker, we derive a system of demand functions for fire-safe actions that characterizes...

Support for genetic modification in agriculture mainly stems from approval of food and agricultural goals. It is facilitated by trust in the judgment of scientific authorities and undermined by anxiety about the risks involved. But there are symptoms of danger: Any public opinion data that show...

Somewhat divergent approaches to finding the components of group differences (for example, the difference in average earnings across gender or racial groups) have grown up in the literatures of economics and sociology. Both, however, are variants of the same underlying approach. This article...