Random Regret Minimization: Exploration of a New Choice Model for Environmental and Resource Economics

This paper introduces the discrete choice model-paradigm of Random Regret Minimization (RRM) to the field of environmental and resource economics. The RRM-approach has been very recently developed in the context of travel demand modelling and presents a tractable, regret-based alternative to the dominant choice-modelling paradigm based on Random Utility Maximization-theory (RUM-theory). We highlight how RRM-based models provide closed form, logit-type formulations for choice probabilities that allow for capturing semi-compensatory behaviour and choice set-composition effects while being equally parsimonious as their utilitarian counterparts. Using data from a Stated Choice-experiment aimed at identifying valuations of characteristics of nature parks, we compare RRM-based models and RUM-based models in terms of parameter estimates, goodness of fit, elasticities and consequential policy implications.

Food miles or carbon emissions? Exploring labeling preference for food transport footprint with a stated choice study

The ecological footprint of food transport can be communicated using carbon dioxide emissions (CO2 label) or by providing information about both the length of time and the mileage travelled (food miles label). We use stated choice data to estimate conventional unobserved taste heterogeneity models and extend them to a specification that also addresses attribute nonattendance. The implied posterior distributions of the marginal willingness to pay values are compared graphically and are used in validation regressions. We find strong bimodality of taste distribution as the emerging feature, with different groups of subjects having low and high valuations for these labels. The best fitting model shows that CO2 and food miles valuations are much correlated. CO2 valuations can be high even for those respondents expressing low valuations for food miles. However, the reverse is not true. Taken together, the results suggest that consumers tend to value the CO2 label at least as much and sometimes more than the food miles label.

Philosophers and practical men: Charles Babbage, Irish merchants and the economics of information

Before the emergence of coordination of production by firms, manufacturers and merchants traded in markets with asymmetric information. Evidence suggests that the practical knowledge thus gained by these agents was well in advance of contemporary political economists and anticipates twentieth-century developments in the economics of information. Charles Babbage, who regarded merchants and manufacturers as the chief sources of reliable economic data, drew on this knowledge as revealed in the evidence of manufacturers and merchants presented to House of Commons select committees to make an important pioneering contribution to the theory of production and exchange with information asymmetries.

The Decline of the Cow: Agricultural and Settlement Change in Early Medieval Ireland

This article considers cows and dairying as the basis a17of value system in early societies, particularly in Ireland. Only in a very few instances is it possible to demonstrate that such systems existed. When it does, it can be shown that cows and dairying were imbedded in the social or religious institutions of these cultures. Cattle had a value and meaning much greater than their economic worth in terms of food, hides, tallow etc. Such a systems, however, does not allow economic development as dairy produce does not easily lend itself to the production, and accumulation, of significant surplus nor is dairy produce particularly suitable for economic expansion based on trade. Its perishable nature militates against both roles. In order to develop political power that is based on economic power and wealth it is necessary to change the emphasis from livestock to cereal production.

Capacity and resource allocation of cooperative MIMO in ad hoc networks

Cooperative MIMO (Multiple Input–Multiple Output) allows multiple nodes share their antennas to emulate antenna arrays and transmit or receive cooperatively. It has the ability to increase the capacity for future wireless communication systems and it is particularly suited for ad hoc networks. In this study, based on the transmission procedure of a typical cooperative MIMO system, we first analyze the capacity of single-hop cooperative MIMO systems, and then we derive the optimal resource allocation strategy to maximize the end-to-end capacity in multi-hop cooperative MIMO systems. The study shows three implications. First, only when the intra-cluster channel is better than the inter-cluster channel, cooperative MIMO results in a capacity increment. Second, for a given scenario there is an optimal number of cooperative nodes. For instance, in our study an optimal deployment of three cooperative nodes achieve a capacity increment of 2 bps/Hz when compared with direct transmission. Third, an optimal resource allocation strategy plays a significant role in maximizing end-to-end capacity in multi-hop cooperative MIMO systems. Numerical results show that when optimal resource allocation is applied we achieve more than 20% end-to-end capacity increment in average when compared with an equal resource allocation strategy.

Resolving questions about bias in real and hypothetical referenda

Despite 10 years of research on behavior in hypothetical referenda, conflict remains in the literature on whether or not the mechanism generates biased responses compared to real referenda, and the nature and source of any such bias. Almost all previous inquiry in respect of this issue has concentrated on bias at the aggregate level. This paper reports a series of three experiments which focuses on bias at the individual level and how this can translate to bias at the aggregate level. The authors argue that only an individual approach to hypothetical bias is consistent with the concept of incentive compatibility. The results of these experiments reflect these previous conflicting findings but go on to show that individual hypothetical bias is a robust result driven by the differing influence of pure self-interest and other-regarding preferences in real and hypothetical situations, rather than by a single behavioral theory such as free riding. In a hypothetical situation these preferences cause yea-saying and non-demand revealing voting. This suggests that investigation of individual respondents in other hypothetical one-shot binary choices may also provide us with insights into aggregate behavior in these situations.

Abatement and Allocation in the Pilot Phase of the EU ETS

We use historical industrial emissions data to assess the level of abatement and over-allocation that took place across European countries during the pilot phase (2005–2007) of the European Union Emission Trading Scheme. Using a dynamic panel data model, we estimate the counter factual (business-as-usual) emissions scenario for EU member states. Comparing this baseline to allocated and verified emissions, we find that both over-allocation and abatement occurred, along with under-allocation and emissions inflation. Over the three trading years of the pilot phase we find over-allocation of approximately 280 million EUAs and total abatement of 247 Mt CO2. However, we calculate that emissions inflation of approximately 73 Mt CO2 also occurred, possibly due to uncertainty about future policy design features.

Deposit-feeding mechanisms and resource partitioning in tropical holothurians

Aspidochirote holothurians found on tropical reef flats feed on particulate deposits which form a variety of substrata. The synaptid holothurian Opheodesoma grisea (Semper) feeds in a similar manner by scraping deposits from the surfaces of sea grasses. Distributional and gut content analyses showed that species partitioning is on the basis of substratum and particle size preference. Scanning electron microscopy revealed that the tentacles of aspidochirotes have a nodular surface while those of O. grisea have a tessellated surface structure. The twelve different species examined were shown to have different tentacular surface textures which bore an apparent relationship with the mean particle sizes selected by the different species. Light microscope studies of tentacle sections confirmed earlier observations on the extent of the water vascular system in aspidochirote and pinnate tentacles. From these observations a functional interpretation is proposed for tentacular operation and the means of particle selection in such holothurians.

Northern Visions? Applying Q methodology to understand stakeholder views on the environmental and resource dimensions of sustainability

Q methodology was used to enable the identification of discourses among stakeholders to the environmental and resource dimensions of sustainability policies and to gain an understanding of the usefulness of Q methodology in informing sustainability policy development. The application of Q methodology has been useful in identifying shared discourses between different stakeholder groups, and providing insights into how stakeholders frame or understand policy issues; and recommendations are made for ongoing research priorities. These insights, in turn, informed the choice of scenarios for an in parallel process of policy evaluation using Ecological and Carbon Footprinting.