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This paper develop and estimates a model of demand estimation for environmental public goods which allows for consumers to learn about their preferences through consumption experiences. We develop a theoretical model of Bayesian updating, perform comparative statics over the model, and show how...
Persistent link: https://www.econbiz.de/10011075637
Procurement auctions are one of several policy tools available to incentivise the provision of ecosystem services and biodiversity conservation. Successful biodiversity conservation often requires a landscape-scale approach and the spatial coordination of participation, for example in the...
Persistent link: https://www.econbiz.de/10010929204
Energy costs are partly driven by environmental policy choices. In this paper, the effects of variations in energy costs – as measured by end-user electricity prices – on firm relocation decisions are investigated. Using a discrete choice model a nd a data base which has not previously been...
Persistent link: https://www.econbiz.de/10010929628
Modern macroeconomic theory utilises optimal control techniques to model the maximisation of individual well-being using a lifetime utility function. Agents face choices over current and future consumption (with resultant implied savings decisions) seeking to maximise the present value of...
Persistent link: https://www.econbiz.de/10010934427
Gains from the incorporation of monetary values for changes in environmental goods and services within cost-benefit analysis depend on how well researchers can estimate these values. One key problem in both stated and revealed preference approaches is how best to model preference heterogeneity....
Persistent link: https://www.econbiz.de/10010935071
Persistent link: https://www.econbiz.de/10010935532
Gains from the incorporation of monetary values for changes in environmental goods and services within cost-benefit analysis depend on how well researchers can estimate these values. One key problem in both stated and revealed preference approaches is how best to model preference heterogeneity....
Persistent link: https://www.econbiz.de/10010937857
Cost-benefit analysis (CBA) has emerged as one of the most widely used methodologies in environmental policy analysis, with many governments applying it in their decision-making procedures and laws. However, undertaking a full CBA is expensive, and conclusions must be drawn on which project or...
Persistent link: https://www.econbiz.de/10011030072
We design and conduct a field experiment in which treated subjects receive a precise and objective signal regarding their knowledge about a public good before estimating their WTP for it. We find that the causal effect of objective signals about the accuracy of a subject׳s knowledge for a...
Persistent link: https://www.econbiz.de/10011043110
Genuine Savings (GS) have been much used in recent years as an indicator of a country's sustainability. According to some theorists (e.g. Arrow et al., 2012), under certain conditions a country with a positive level of GS should experience non-declining future utility, given the assumption of...
Persistent link: https://www.econbiz.de/10011043112