Conventional wisdom among environmental economists is that the relative slopes of the marginal social benefit and marginal social cost functions determine whether a price-based or quantity-based environmental regulation leads to higher expected social welfare. We revisit the choice between price-based vs. quantity-based environmental regulation under Knightian uncertainty; that is, when uncerta...

In this paper we report an economic analysis of the activities of the NSW Grains Board over the period 1992 1998. This work was undertaken in conjunction with a NSW State Government review of the legislation that grants powers of vesting and single desk selling to the Board, powers that can be considered as restrictions to competition. A net public benefit test was used as the basis for the rev...

BACKGROUND AND AIM: Oral diseases are very important because they impose economic and social burden on societies. Given the resource scarcity, it is necessary to devise cost-effective and scientific strategies to prevent and control oral diseases. This study aimed to estimate the potential cost-savings for dental caries treatment associated with Community Water Fluoridation Program (CWFP) in Ke...

Income mobility is often thought to equalize permanent incomes and thereby to improve social welfare. The welfare analysis of mobility often fails, however, to account for the cost of the variability of periodic incomes around permanent incomes. This paper assesses the net welfare benefit of mobility by assuming both a social aversion to inequality in permanent incomes and an individual aversio...

1 This paper compares financial costs and benefits of floating rice-based and intensive rice farming systems using data from focus group discussions and household survey in four locations in the Mekong Delta. We argue that the net financial benefit per 1000m 2 of integrated floating rice-based farming systems is greater than the net financial benefit of intensive rice farming system. The total ...

Incorporating a household’s net sale status into a rearranged Slutsky equation with combined ordinary and endowment income effects, this paper aims to reinterpret the income elasticity of demand in the case of buying and selling and to associate it with types of goods in a novel manner. To this end, the Deaton’s (1989) net benefit ratio (NBR) approach is expressed as the difference between orig...