In most applied cost-benefit analyses, individual willingness to pay is aggregated without using explicit welfare weights. This can be justified by postulating a utilitarian social welfare function, along with the assumption of equal marginal utility of income for all individuals. However, since...

We conduct the first empirical economic investigation of the decision to cheat by university students. We investigate student demand for essays, using hypothetical discrete choice experiments in conjunction with consequential Holt–Laury gambles to derive subjects’ risk preferences....

Ricardian (hedonic) analyses of the impact of climate change on farmland values typically assume additively separable effects of temperature and precipitation with model estimation being implemented on data aggregated across counties or large regions. We use a large panel of farm-level data to...

Ricardian (hedonic) analyses of the impact of climate change on farmland values typically assume additively separable effects of temperature and precipitation. Model estimation is implemented on data aggregated across counties or large regions. We investigate the potential bias induced by such...

We investigate conflicts between wildlife conservation and recreational use that can occur at open-access sites when visitors dislike crowding. A theoretical model is proposed which determines the spatial distributions of visitors to a beach, given their willingness to walk to avoid crowding and...