Incentive Effects of Rate-of-Return Regulation in Hong Kong: Reply

Journal of Regulatory Economics -     

The measurement of Poverty: An experimental questionnaire investigation

We re-examine some of the standard axioms used in the literature on poverty measurement. Using a sample of 486 students from Australia, Israel and the USA we investigate the extent to which individuals' perceptions of poverty correspond to the axioms. We find that axioms such as anonymity, growth of the poor and monotonicity are resonably well supported. However there is very little support for the focus axiom and the principle of transfers was the least well supported of the eight specific criteria for poverty measurement that we examined.     

A Bayesian Approach to Uncertainty Aversion

The Ellsberg paradox demonstrates that people's beliefs over uncertain events might not be representable by subjective probability. We show that if a risk averse decision maker, who has a well defined Bayesian prior, perceives an Ellsberg type decision problem as possibly composed of a bundle of several positively correlated problems, she will be uncertainty averse. We generalize this argument and derive sufficient conditions for uncertainty aversion.     

Three cheers (sort of) for carbon taxes: a review of recent books on climate change economics and policy

Business Economics -