			Home About us Contact

Many Economists (many + economist)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	50%

Selected Abstracts

Valuing avoided morbidity using meta-regression analysis: what can health status measures and QALYs tell us about WTP?

HEALTH ECONOMICS, Issue 8 2006
George Van Houtven
Abstract Many economists argue that willingness-to-pay (WTP) measures are most appropriate for assessing the welfare effects of health changes. Nevertheless, the health evaluation literature is still dominated by studies estimating nonmonetary health status measures (HSMs), which are often used to assess changes in quality-adjusted life years (QALYs). Using meta-regression analysis, this paper combines results from both WTP and HSM studies applied to acute morbidity, and it tests whether a systematic relationship exists between HSM and WTP estimates. We analyze over 230 WTP estimates from 17 different studies and find evidence that QALY-based estimates of illness severity , as measured by the Quality of Well-Being (QWB) Scale , are significant factors in explaining variation in WTP, as are changes in the duration of illness and the average income and age of the study populations. In addition, we test and reject the assumption of a constant WTP per QALY gain. We also demonstrate how the estimated meta-regression equations can serve as benefit transfer functions for policy analysis. By specifying the change in duration and severity of the acute illness and the characteristics of the affected population, we apply the regression functions to predict average WTP per case avoided. Copyright © 2006 John Wiley & Sons, Ltd. [source]

Energy conservation conflicts in district heating systems

INTERNATIONAL JOURNAL OF ENERGY RESEARCH, Issue 1 2003
Björn Rolfsman
Abstract In Sweden, district heating of buildings is in common use. This paper deals with the district heating tariff. Many economists argue that the tariff should be based on short-range marginal costs, but in practice this never occurs. Traditionally instead, the prices are set so they are lower than the alternatives. A case study is presented dealing with a residential building in Navestad, Norrköping. For this building, the life-cycle cost with extra wall insulation and the introduction of a heat pump has been calculated. A comparison of two perspectives, the present tariff and a tariff-based short-range marginal cost, is done. It is shown that there is a conflict between the two perspectives. For the tariff based on short-range marginal cost, neither extra insulation nor an introduction of a heat pump is profitable. However, with the present tariff, a bivalent system with a heat pump and district heating is profitable. Copyright © 2002 John Wiley & Sons, Ltd. [source]

Optimal Structure of Technology Adoption and Creation: Basic versus Development Research in Relation to the Distance from the Technological Frontier,

ASIAN ECONOMIC JOURNAL, Issue 3 2009
Joonkyung Ha
O31; O47 Many economists maintain that in order to advance economic growth Asian countries should focus more on basic research than on technology adoption, and more on the supply of skilled workers than the supply of unskilled workers. In this context, this paper presents a theoretical model and empirical evidence to explain the observation that a country in which the level of technology approaches the technology frontier tends to rely more on technology creation than adoption, and invest more in basic research than in development. The model shows that technology creation involves both basic and development research processes, whereas technology adoption uses only the latter process. Therefore, R&D investment in our model involves three different processes: basic research in technology creation, development in technology creation, and development in technology adoption. The results suggest first that the rate of growth is positively correlated with the level of basic research activities in the technology creation sector, if a country's technology gap with the technology frontier is small enough. Second, an increase in the efficiency of the education system for highly skilled workers raises the level of basic research and the rate of growth. Third, verifying these theoretical results, empirical analyses using panel data from Korea, Japan and Taipei, China show that the narrower the distance to the technological frontier, the higher the growth effect of basic R&D, which indicates that the share of basic R&D matters for economic growth. Finally, the results also show that the quality of tertiary education has a significantly positive effect on the productivity of R&D. [source]

African elephants: the effect of property rights and political stability

CONTEMPORARY ECONOMIC POLICY, Issue 1 2000
MA. McPherson
African elephant populations have declined by more than 50% over the past 20 years. International outrage over the slaughter led to a worldwide ban on ivory sales beginning in 1989, despite the objections of many economists and scientists, and of several southern African countries that have established systems of property rights over elephants. Far from declining, elephant populations in many of these countries have increased to levels at or above the carrying capacity of the ecosystem. This article estimates the determinants of changes in elephant populations in 35 African countries over several time periods. The authors find that, controlling for other factors, countries with property rights systems of community wildlife programs have more rapid elephant population growth rates than do those countries that do not. Political instability and the absence of representative governments significantly lower elephant growth rates. [source]