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作者:Toye, J
作者单位:University of Oxford
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作者:Straetmans, S
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作者:Clinch, JP; Murphy, A
作者单位:University College Dublin
摘要:Contingent valuation is now the most widely used method for valuing non-marketed goods in cost-benefit analysis. Yet, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay to being non-negative. This can result in significant errors in policymaking. This paper examines the importance of this, explores appropriate welfare measures for assessing losses and gains, demonstrates how these can be elicited explic...
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作者:Sugden, R
作者单位:University of East Anglia
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作者:Bailey, RE
作者单位:University of Essex
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作者:Goodhart, C
作者单位:University of London; London School Economics & Political Science
摘要:Besides the theoretical (Alchian/Klein, 1973) case for including asset prices in measures of inflation, there is also a practical case, that some asset prices, notably housing, are closely associated with the main trends in inflation, and via 'bubbles and busts' with output disturbances. Attempts to use the pure;Alchian/Klein methodology in practice give excessive weight to unstable asset prices, but there are more appropriate weighting schemes, derived either from econometrically measured rel...
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作者:Agliardi, E
作者单位:University of Bologna
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作者:Alence, R
作者单位:Stanford University
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作者:Clark, K; Sefton, M
作者单位:University of Manchester; University of Nottingham
摘要:we investigate how fairness concerns influence individual behaviour in social dilemmas. Using a Sequential Prisoner's Dilemma experiment we analyse the extent to which co-operation is conditional on first-mover co-operation, repetition, economic incentives, subject pool (United Kingdom vs. United States) and gender. We find the most important variable influencing cooperation is the first-mover's choice, supporting the argument that co-operative behaviour in social dilemmas reflects reciprocati...
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作者:Walker, I; Young, J
作者单位:University of Warwick
摘要:This paper outlines the issues relevant to the design of pari-mutuel lottery games and makes inferences about game design effects from estimates of how rollovers affect sales. Lottery tickets sales depend positively on the proportion of revenue returned as prizes, positively on the skewness of the prize distribution (which depends largely on how much of the prize money goes to the jackpot), and negatively on the variance in the prize distribution (which depends largely on how much goes on smal...