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Broberg T.,National Institute of Economic Research
Environmental and Resource Economics | Year: 2010

This paper provides case study evidence on two relevant issues in estimating the relationship between WTP and income using contingent valuation: (1) the choice of income measure; and (2) the modelling choice. Addressing these issues, a sensitivity analysis is performed on a dataset concerning implementation of the Swedish predator policy. The results show that the estimated income-elasticity of WTP varies between 0. 12 and 0. 40 for the models estimated. The main conclusion drawn from the analysis is that controlling for the number of adults in the household is important for finding a significant income effect, when the household income measure is used. Besides this finding the empirical analysis finds little support for the hypothesis that the choice of income measure and modelling assumptions significantly influence the overall model fit. © Springer Science+Business Media B.V. 2009.

Svensson M.,Orebro University | Svensson M.,Karlstad University | Vredin Johansson M.,National Institute of Economic Research | Vredin Johansson M.,Uppsala University
Accident Analysis and Prevention | Year: 2010

Estimates of the willingness to pay (WTP) for a mortality risk reduction can be used to calculate the value of a statistical life, which is a major component in many economic evaluations of environmental and safety policies. Previous research on the WTP for risk reductions using stated preference methods have found that the mean WTP for public risk reductions is significantly smaller compared to the mean WTP for private risk reductions of equal magnitude. Hence, the use of a private or public scenario in stated preference studies of e.g. environmental or safety policies may strongly determine the outcome of the economic evaluation. In this paper we use a stated preference survey to show that WTP for a private risk reduction is three times higher compared to a public risk reduction and a significant part of the difference can be explained by respondents' attitudes towards privately and publicly provided goods in general. © 2009 Elsevier Ltd. All rights reserved.

Mansikkasalo A.,National Institute of Economic Research | Lundmark R.,Lulea University of Technology | Soderholm P.,Lulea University of Technology
Forest Policy and Economics | Year: 2014

The objectives of this paper are to: (a) provide a critical survey of existing econometric analyses of supply and demand elasticities in recycled paper markets and (b) discuss a number of implications of the results from this work. Specifically, the survey adds to our understanding of the functioning of recycled paper markets, points towards some important policy lessons, and identifies gaps in the economic literature on recycled paper market behavior. The analysis builds on the scope, methodology and data used by 21 previous studies, which all estimate the own-price elasticities of recycled paper demand and/or supply. One key finding is that the own-price elasticity of recycled paper supply is positive but low (around 0.20-0.30). This helps explain the often high price volatility in recycled paper markets, and carries important implications for the impacts of, and the choice between, price- and quantity-based waste management policies. Finally, the analysis also suggests that future research should devote increased attention to different non-environmental market imperfections (e.g., market power, information asymmetries) that could discourage the uptake of recycled materials in the market place. A stronger research focus on recycled paper use in developing countries, not the least China, is also needed. © 2013 Elsevier B.V.

Baard P.,KTH Royal Institute of Technology | Vredin Johansson M.,National Institute of Economic Research | Carlsen H.,Swedish Defence Research Agency | Edvardsson Bjornberg K.,KTH Royal Institute of Technology
Local Environment | Year: 2012

Adaptation to climate change often involves long-time frames and uncertainties over the consequences of chosen adaptation measures. In this study, two tools designed for assisting local decision-makers in adaptation planning were tested: socio-economic scenarios and sustainability analysis. The objective was to study whether these tools could be of practical relevance to Swedish municipalities and facilitate local-level climate change adaptation. We found that the municipal planners who participated in the testing generally considered the tools useful and of high relevance, but that more time was needed to use the tools than was provided during the test process. © 2012 Copyright Taylor and Francis Group, LLC.

Preda V.,National Institute of Economic Research | Dedu S.,University of Bucharest
Physica A: Statistical Mechanics and its Applications | Year: 2014

In this paper we construct the minimal entropy martingale for semi-Markov regime switching interest rate models using some general entropy measures. We prove that, for the one-period model, the minimal entropy martingale for semi-Markov processes in the case of the Tsallis and Kaniadakis entropies are the same as in the case of Shannon entropy. © 2014 Elsevier B.V. All rights reserved.

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