Does Sending Farmers Back to School Have An Impact? A Spatial Econometric Approach

Replaced with revised version of paper 02/08/07.agricultural economics, spatial econometrics, economic development, Labor and Human Capital, Q12, C59, O13,

Testing heterogeneous anchoring and shift effect in double-bounded models: The case of recreational fishing in Tasmania

This paper explores the extent and nature of anchoring and shift effects in a double-bounded contingent valuation of recreational fishing in Tasmania’s inshore saltwater fishery. In particular we model the situation where respondents, when answering the second valuation question, evaluate the bid amount partly with reference to the size of the first bid amount. The estimates of the coefficients and mean WTP for a day of fishing are compared across different contingent valuation models, including a single-bounded model, a conventional double-bounded model and models that control anchoring and exogenous shift effects in both homogeneous and heterogeneous forms. Overall we find consistent evidence of anchoring, but mixed evidence of a shift effect. Results show that both males and females anchor in the same way, but that respondents who have a mainstream view of what recreational fishing represents anchor more strongly than those whose view of fishing is not mainstream. The estimated mean WTP for a day’s recreational fishing is consistently higher in all models which account for bias in responses than in either the single-bounded or double-bounded models. We indicate the possibility that anchoring behaviour may be more complex than is captured in our models and suggest that this needs to be addressed if the results of contingent valuations are to reliably inform resource allocation decisions and recreational fishing management.Contingent valuation, anchoring bias, shift effect, heterogeneity, recreational fishing, Environmental Economics and Policy, C35, Q26,

Testing heterogeneous anchoring and shift effect in double-bounded models: The case of recreational fishing in Tasmania

This paper explores the extent and nature of anchoring and shift effects in a double-bounded contingent valuation of recreational fishing in Tasmania’s inshore saltwater fishery. In particular we model the situation where respondents, when answering the second valuation question, evaluate the bid amount partly with reference to the size of the first bid amount. The estimates of the coefficients and mean WTP for a day of fishing are compared across different contingent valuation models, including a single-bounded model, a conventional double-bounded model and models that control anchoring and exogenous shift effects in both homogeneous and heterogeneous forms. Overall we find consistent evidence of anchoring, but mixed evidence of a shift effect. Results show that both males and females anchor in the same way, but that respondents who have a mainstream view of what recreational fishing represents anchor more strongly than those whose view of fishing is not mainstream. The estimated mean WTP for a day’s recreational fishing is consistently higher in all models which account for bias in responses than in either the single-bounded or double-bounded models. We indicate the possibility that anchoring behaviour may be more complex than is captured in our models and suggest that this needs to be addressed if the results of contingent valuations are to reliably inform resource allocation decisions and recreational fishing management.Contingent valuation, anchoring bias, shift effect, heterogeneity, recreational fishing, Environmental Economics and Policy, C35, Q26,

Output versus input controls under uncertainty: The case of a fishery

The paper compares the management outcomes with a total allowable catch (TAC) and a total allowable effort (TAE) in a fishery under uncertainty. Using a dynamic programming model with multiple uncertainties and estimated growth, harvest and effort functions from one of the world’s largest fisheries, the relative economic and biological benefits of a TAC and TAE are compared and contrasted in a stochastic environment. This approach provides a decision and modeling framework to compare instruments and achieve desired management goals. A key finding is that neither instrument is always preferred in a world of uncertainty and that regulator’s risk aversion and weighting in terms of expected net profits and biomass and the trade-offs in terms of expected values and variance determine instrument choice

The Development of Welfare Economics：Orthodox History after Pigou，and Recent Studies

限界分析による最適化の手法と功利主義哲学を融合させたピグーは，厚生経済学の創始者として位置づけられている。だが，ピグー流の厚生経済学は，基数的効用とその個人間比較を前提としていたため，ロピンズを筆頭とする後代の学者たちからその非科学性を厳 しく断罪された。それを契機に，新厚生経済学の誕生という展開がもたらされた。そこにおいては，基数的効用ではなく，序数的な効用論とパレート効率性が採用され，カルド ア・ヒックスの補償原理，パーグソン・サミュエルソンの社会的厚生関数といった理論が確立された。しかしながら.分配問題の回避，アローによる不可能性定理によって，新厚生経済学においても深刻な欠陥があることが指摘された。その後は，センらによる非厚生主義的・非帰結主義的な情報を基礎とする現代厚生経済学が登場することとなった。また.以上のようなケンブリッジの流れとは別に，オックスフォードの流れを承けた厚生経済学の存在も指摘され得る。こちらは，ケンブリッジ学派以上に政策や実践に影響を及ぼ した