We consider a cheap-talk setting in which the sender can use information about the receiver’s preferences to tailor communication. Better information increases the persuasion ability of the sender, but also results in receiver skepticism. When the sender’s motives are transparent to the receiver, trade always relies on the sender not being too well-informed about the receiver’s preferences. In ...

This paper studies an individual’s preference on trade liberalization using a Japanese household survey, the Keio Household Panel Survey. As result, we show that preferences toward are affected by economic factors (income, gender, family, asset, and job status) as well noneconomic (noncognitive behaviroal biases). We find male, educated, people with smaller family prefer liberalization. Further...

Effective management of ecosystem services requires understanding the biophysical relationships governing trade-offs, as well stakeholder preferences for trade-offs. However, useful tools to guide complex decision-making process are often lacking. This study demonstrates an approach that combines and economic models identify socially preferred solutions. We demonstrate in context dam-removal de...

We present a complex scheduling problem where we want to plan meetings between customers and exhibitors at a trade event. One cause of the complexity of the problem is the general nature of the preferences expressed by the participants prior to the event. These map a set of requesters to a set of requested participants and express a preferred length of the meeting. A further source of complexit...

This paper studies the cross-sectional risk-return trade-off in the stock market. A fundamental principle in finance is the positive relation between risk and expected return, whereas recent empirical evidence suggests the opposite. We apply referencedependent preferences to shed light on this violation. Reference-dependent preferences (e.g., prospect theory) typically posit that when facing pr...

Developing countries, by definition, are countries that are less advanced or matured in major areas such as technology and defence, and also have a low Human Development Index, which measures life expectancy, income and the quality of education. The General Agreement on Tariffs and Trade (GATT), which came into effect in January 1948 and transformed into the World Trade Organisation (WTO) in Ja...

• Objective: To ascertain whether the utilities assigned by patients to possible complications of prostate cancer treatment predict their actual treatment choice. • Design: Prospective cohort series. • Setting: A university hospital, a Veterans Administration hospital, and a large county hospital. • Participants: 950 men being evaluated for the presence of prostate cancer. • Outcome measures: T...

Current models of bilateral trade neglect the effects of income distribution. This paper addresses the issue by accounting for non-homothetic consumer preferences and hence investigating the role of income distribution in the context of the gravity model of trade. A theoretically justified gravity model is estimated for disaggregated trade data (Dollar volume is used as dependent variable) usin...

We study how the opportunity to trade in trash might influence equilibrium outcome when tax on externality is determined by a political economy process. In our model, individuals have heterogeneous preferences for environmental quality , and there wastage of real resources funds are transferred from pressure groups politicians. When hard-core environmentalists capitalists organized interest whi...