Foto del docente

Silva Marzetti

Adjunct professor

Department of Economics


Keywords: Welfare theory Keynesian macroeconomics Public goos and non-marketable values Natural resourses management Cost-benefit analysis Contingent valuation method

I) Welfare Economics and Keynesian Macroeconomics

a) A general theory of welfare under uncertainty

b) The philosophical aspect of Keynesian macroeconomics

c) The rational behaviours of a policy-maker

The different theories of Welfare Economics are analysed according to their ethical aspects and uncertainty.  By considering competitive moral and social systems, the main aim is to give an answer to the following question: From the point of view of rationality, what characteristics should a general theory of welfare have?

The philosophical aspect of J. M. Keynes macroeconomics are analysed in order to understand why his theory cannot be represented by models which consider a social welfare function to be maximised.

The different rational behaviours of economic agents are analysed according to the quantity of information available. Specific attention has been given to the rational behaviour of a policy-maker.

II) Natural resources management: Cost-Benefit Analysis; Contingent valuation method

d) The sustainable management of natural resourses

e) Estimate of a tourist demand for a coastal site in the Emilia-Romagna region

 f) Estimate of the willingness to pay (WTP) for a biodiversity conservation project of two parks in the Emilia-Romagna region

g) Estimate of the WTP for a project about the reduction of flooding risk in Venice (Italy)

h) Estimate of the WTP for a defence project from erosion of the Riccione and Misano Adriatico beaches

i) Estimate of the willingness to pay for the conservation of eroded beaches according to the Integrated Coastal Zone management approach.

l) Estimate of the willingness to pay for benefits about the implementation of projects for reducing the risk of flooding 

The study of natural resourses management has been conducted by applying the theory of Cost-Benefit Analysis which asks that social benefits and costs are evaluated by valuation methods such as the Contingent valuation method. In some researches funded by the EU and the Ministero della Ricerca e Istruzione the Contingent valuation method has been applied in order to estimate social benefits from the implementation of public projects. A multidisciplinary approach has been applied. This method has been applied to population samples of national and international sites. Regression models are applied according to the different characteristics of the data so obtained in order to find out the main determinants of these social benefits. The main models used are: Tobit model,  Probit and ordered probit, and the Amemyia model.

A research about the willingness to pay of populations living in sites under risk of flooding and emission of pollution is in progress.