BACKGROUND Nearly 40 years of research provides an extensive body of evidence about human health, well-being, and improved function benefits associated with experiences of nearby nature in cities. OBJECTIVES We demonstrate the numerous opportunities for future research efforts that link metro nature, human health and well-being outcomes, and economic values. METHODS We reviewed the literatu...

In the past few years, a fairly substantial literature has emerged addressing the phenomenon of global value chains (GVCs). While one can find various definitions of GVCs, the simple concept proposed by Lunati (2007) seems to capture the spirit of most definitions. Namely, GVCs are international supply chains characterized by fragmentation of production activities across sites and borders. In e...

We compare statistical and economic measures of forecasting performance across a large set of stock return prediction models with time-varying mean and volatility. We find that it is very common for models to produce higher out-of-sample mean squared forecast errors than a model assuming a constant equity premium, yet simultaneously add economic value when their forecasts are used to guide port...

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With several candidate dengue vaccines under development, this is an important time to help stakeholders (e.g., policy makers, scientists, clinicians, and manufacturers) better understand the potential economic value (cost-effectiveness) of a dengue vaccine, especially while vaccine characteristics and strategies might be readily altered. We developed a decision analytic Markov simulation model...

Basic research is a public good, for which social returns may greatly exceed private ones. This paper develops an economic framework for evaluating the social benefits of medical research. We begin with a model of the economic value of health and life expectancy, which we apply to US data on overall and disease-specific mortality rates. We calculate (i) the social value of increased longevity t...

We study the cyclical behavior of economic fundamentals for value and growth firms. Our goal is to evaluate the empirical relevance of recent rational theories of the value premium. We find that the fundamentals of value firms are more adversely affected by negative business cycle shocks than those of growth firms. And the differential response is mostly significant. We also examine the potenti...

Economic choice is the behavior observed when individuals select one of multiple options available in alternative to each other. In economic choice, there is no intrinsically “correct” answer; the choice depends on subjective preferences. This behavior is traditionally the object of economic analysis1 and is also of primary interest in psychology2. However, the underlying mental processes and n...