We investigate environmental aspects of agriculture from a welfare economic perspective and show that both positive and negative effects exhibit the character of undepletable externalities. To internalise these externalities while taking equity concerns into account, we propose compensation of...

We investigate environmental aspects of agriculture from a welfare economic perspective and show that both positive and negative effects exhibit the character of undepletable externalities. To internalise these externalities while taking equity concerns into account, we propose compensation of...

In November 2005, 55.7 percent of 2 million Swiss voters approved a 5-year moratorium (ban) on the commercial cultivation of genetically modified (GM) plants within Switzerland. The present study examines how individual voting decisions were determined by (i) socioeconomic characteristics, (ii)...

Markets for complex, multi-faceted goods normally require a complex institutional framework to function properly, i.e., to lead to patterns of outcomes that are deemed acceptable by the individuals involved. This paper examines the institutional underpinnings of the market for urban land use...

Markets for complex, multi-faceted goods normally require a complex institutional framework to function properly, i.e., to lead to patterns of outcomes that are deemed acceptable by the individuals involved. This paper examines the institutional underpinnings of the market for urban land use...

Usually, in monocentric city models the spatial patterns of segregated household groups are assumed to be ring-shaped, while early in the 1930ies Hoyt showed that wedge-shaped areas empirically predominate. This contribution presents a monocentric city model with different household groups...

Drawing from Coase’s methodological lesson, this article discusses the specific case of knowledge, which was for a long time chiefly governed by exchange mechanisms lying outside the market, and has only recently been brought into the market. Its recent, heavy “colonization” by the...

Drawing from Coase's methodological lesson, this article discusses the specific case of knowledge, which was for a long time chiefly governed by exchange mechanisms lying outside the market, and has only recently been brought into the market. Its recent, heavy "colonization" by the property...

By distinguishing between producible and nonproducible public goods, we are able to propose a general equilibrium model with externalities that distinguishes between and encompasses both the Starrett [1972] and Boyd and Conley [1997] type external effects. We show that while nonconvexities...

Usually, an economic good isn't available gratuitously, but the case of information goods and services (IGS) is specific. Their intrinsic properties allow zero prices that is unconceivable for the others economic private goods. The gratuitousness is not the aim of productive activity ; it...