Animal welfare is often cited as a classic public good, which implies market failure and, thus, that government intervention is required. However, the current literature does not provide an accessible account of how governed markets are supposed to cope with the issues of animal welfare. This paper seeks to fill this gap by re-considering the political economy of animal welfare. Conceptual anal...

The present study surveyed a UK representative sample of 500 individuals and employed the Choice Experiment (CE) to elicit the UK public’s views on the management of stray dogs and people’s willingness to pay (WTP) to reduce the current euthanasia rate. The results revealed that people have an emotional bonding with companion animals and are willing to pay to reduce the current euthanasia rate....

Many transport policies and innovations are liable to have implications for human health and safety. How should such implications be weighed against the other costs and benefits? In particular, when policy makers are undertaking social cost-benefit analysis, what monetary value should be attached to any health or safety components? Standard welfare economics suggests that the answer should refl...

We compare two fixed-prize mechanisms for funding public goods, an all-pay auction and a lottery, where public good provision can only occur if the participants’ contributions equal or exceed the fixed-prize value. We show that the provisional nature of the fixed-prize means that efficiency and endowment conditions must both be satisfied to assure positive public good provision. Our main findin...

This paper studies equilibrium behavior in a class of games that models asymmetric multiprize competitions in which players’ costs are not necessarily strictly decreasing. Such costs accommodate head starts, which capture incumbency advantages, prior investments, and technological differences. I provide an algorithm that constructs the unique equilibrium in which players do not choose weakly-do...

today's organizations change their pay structure and pay for performance role increased in pay package. performance pay in every organizational level has been appear. many researches show that in high performance organizations, variable pay has critical role. another variable that is very important in designing compensation strategy is pay dispersion. with using hierarchical linear modelin...