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Collective-Consumption Services of Individual-Consumption Goods
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In this article, the authors argue that when individual consumption goods cannot be provided profitably by private enterprise, it may serve the social welfare to subsidize their production, and that certain commodities of a pure individual consumption variety also possess characteristics of pure collective consumption good.Abstract:
Certain commodities of a pure individual-consumption variety also possess characteristics of a pure collective-consumption good. In certain cases when individual-consumption goods cannot be provided profitably by private enterprise, it may serve the social welfare to subsidize their production.read more
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Valuing Research Leads: Bioprospecting and the Conservation of Genetic Resources
TL;DR: In this article, the authors show that the information rents associated with their role in reducing the costs of search are virtually unaffected by increases in the profitability of product discovery, and decline as technology improvements lower search costs.
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The WTP for Facilities at the Amsterdam Zuidas
Thomas de Graaff,Henri L.F. de Groot,Henri L.F. de Groot,Caroline Rodenburg,Erik T. Verhoef,Erik T. Verhoef +5 more
TL;DR: The results of a stated preference study investigating the willingness to pay (WTP) of employees for the presence of non-shopping and shopping facilities at the Amsterdam Zuidas area are reported in this article.
Journal ArticleDOI
A Real Options Approach to Amenity Valuation the Role of Uncertainty and Risk Aversion
TL;DR: In this article, a theoretical model is developed that highlights key aspects of a local housing market and allows discussing implications for empirical estimates, showing that relocation costs are related to uncertainty due to the option value of waiting.
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The Unaccounted Insurance Value of Medical Innovation
TL;DR: A model for estimating the ex-ante value of new medical innovation, where risk-averse individuals who are susceptible to contracting a disease in the future derive value from the existence of a treatment, because risk- averse individuals prefer to insure against uncertainty in future survival outcomes.
Posted Content
Valuing Options for Reserve Water in the Fitzroy Basin
John Rolfe,Jill Windle +1 more
TL;DR: In this paper, option values are reported for retaining unallocated water in reserve rather than using it for current development, and the results are then extrapolated to the case study areas within the Fitzroy River Basin in central Queensland.