Category: Theory

The value of a statistical life under ambiguity aversion

Abstract: The paper shows that ambiguity aversion increases the value of a statistical life if the marginal utility of an increase in wealth is larger if one is alive rather than dead. Intuitively, ambiguity aversion has a similar effect as an increase i… more »

The ecological importance of species and the Noah's Ark problem

Abstract: Using the Noah's Ark problem – the problem of efficiently allocating limited funds to conserve biodiversity – the standard economic approach to endangered species conservation constructs a human-centered biodiversity by favoring species directl… more »

Ecological Economics Reviews 2010

The inaugural volume in a series of reviews on the theory, policy, and implementation of sustainability and sustainable development, with a focus on the economic, social, and environmental challenges facing the world today. Browse through papers by leadi… more »

Tax Policies for Low-Carbon Technologies

Abstract: The U.S. tax code provides a number of subsidies for low-carbon technologies. Gilbert E. Metcalf discusses the difficulties of achieving key policy goals with subsidies as opposed to using taxes to raise the price of pollution-related activitie… more »

Eliciting people's preferences for the distribution of health: A procedure for a more precise estimation of distributional weights

Abstract: In order to incorporate distributional concerns into cost-effectiveness analysis, it would be useful to elicit distributional weights that express people's valuation of marginal health gains at various levels of health. Distributional preferenc… more »