This paper presents a summary of coastal recreation of New England residents from a survey conducted in the summer of 2018. The management of New England\'s coasts benefits from understanding the value of coastal recreation and the factors influencing recreational behavior. To address this need, the survey collected the geographic location and trip details for both day and overnight visits to any type of location on the New England coast for a range of water recreation activities, providing a comprehensive view of coastal recreation in the region. This paper summarizes participation in various types of water recreation activities, including beachgoing, swimming, fishing, wildlife viewing, boating, and other coastal recreation activities. We quantify demand for coastal recreation using participation and effort models that disaggregate the dimensions of recreational behavior over space and census demographics. This provides insights on the scale and location of beneficiaries of this important human use of the natural environment. We found that 71% of people in the surveyed region participate in coastal recreation and engage in a wide range of coastal recreation activities at varied locations from open-ocean-facing coastal beaches to sheltered, estuarine ways to water. On average, people in the region take 37 trips to recreate on the coast of New England in a year, spending 167 hours per year visiting recreation sites and 66 hours traveling. This adds up to nearly 170.5 million trips from our sample region, 772.4 million hours of recreation time, and 304.6 million hours of travel time. Distance to the coast, demographics, and recreational activities affect how often people go and how much time they spend on coastal recreation.

The note puts forward the idea of revealed desirability, a novel instrument, which like revealed preference is observable from choice and important for individual and social welfare. We provide the axiomatic underlying individual\'s choice model, preliminary experimental results that support the idea, and an appealing allocation rule that uses the revealed desirability information along with the revealed-preference information.
BACKGROUND: The online version supplementary material available at 10.1007/s11238-021-09855-8.

Choice-consistency is considered a hallmark of rational value-based choice. However, because the cognitive apparatus supporting decision-making is imperfect, real decision-makers often show some degree of choice inconsistency. Cognitive models are necessary to complement idealized choice axioms with attention, perception and memory processes. Specifically, compelling theoretical work suggests that the (imperfect) retention of choice-relevant memories might be important for choice-consistency, but this hypothesis has not been tested directly. We used a novel multi-attribute visual choice paradigm to experimentally test the influence of memory retrieval of exemplars on choice-consistency. Our manipulation check confirmed that our retention interval manipulation successfully reduced memory representation strength. Given this, we found strong evidence against our hypothesis that choice-consistency decreases with increasing retention time. However, quality controls indicated that the choice-consistency of our participants was non-discernable from random behaviour. In addition, an exploratory analysis showed essentially no test-retest reliability of choice-consistency between two observations. Taken together, this suggests the presence of a floor effect in our data and, thus, low data quality for conclusively evaluating our hypotheses. Further exploration tentatively suggested a high difficulty of discriminating between the choice objects driving this floor effect.

OBJECTIVE: To systematically review studies eliciting monetary value of a statistical life (VSL) estimates within, and across, different sectors and other contexts; compare the reported estimates; and critically review the elicitation methods used.
METHODS: In June 2019, we searched the following databases to identify methodological and empirical studies: Cochrane Library, Compendex, Embase, Environment Complete, Informit, ProQuest, PubMed, Scopus, and Web of Science. We used the Preferred Reporting Items for Systematic Reviews and Meta-analyses guidelines for reporting and a modified Consolidated Health Economic Evaluation Reporting Standards checklist to assess the quality of included studies.
RESULTS: We identified 1455 studies, of which we included 120 in the systematic review. A stated-preference approach was used in 76 articles, with 51%, 41%, and 8% being contingent valuation studies, discrete-choice experiments, or both, respectively. A revealed-preference approach was used in 43 articles, of which 74% were based on compensating-wage differentials. The human capital approach was used in only 1 article. We assessed most publications (87%) as being of high quality. Estimates for VSL varied substantially by context (sector, developed/developing country, socio-economic status, etc), with the median of midpoint purchasing power parity-adjusted estimates of 2019 US$5.7 million ($6.8 million, $8.7 million, and $5.3 million for health, labor market, and transportation safety sectors, respectively).
CONCLUSIONS: The large variation observed in published VSLs depends mainly on the context rather than the method used. We found higher median values for labor markets and developed countries. It is important that health economists and policymakers use context-specific VSL estimates. Methodological innovation and standardization are needed to maximize comparability of VSL estimates within, and across, sectors and methods.

Most transport mode choice studies rely on subjective responses to hypothetical questions (stated preference), or on revealed preferences. In stated preference studies, trip characteristics are exact, but there is a range of sources of errors and biases in the responses. Revealed preference surveys suffer the opposite: The choice is exact (i.e. observed) but trip attributes are uncertain - and even more uncertain when it comes to transport modes not chosen. Our dataset goes a long way in solving these problems. The data set combines real travel behaviour and mode choice data from the Norwegian National Transport Survey (NTS) with trip characteristics collected from Google maps travel planner. From the NTS, we have extracted all commute trips conducted by either private car or public transport (PT) into ten major cities in Norway with exact origin and destination coordinates. The NTS data also comprises information about age, gender, household, income and car availability. From Google maps, we have extracted trip characteristics for these trips - for both the mode chosen and the mode not chosen. This data includes total travel time, the number of interchanges, wait time, walk time, and in-vehicle time. This data can be used to study how different trip characteristics influence the probability of choosing PT over private car on commute journeys.

Sensitivity to satiety constitutes a basic requirement for neuronal coding of subjective reward value. Satiety from natural ongoing consumption affects reward functions in learning and approach behavior. More specifically, satiety reduces the subjective economic value of individual rewards during choice between options that typically contain multiple reward components. The unconfounded assessment of economic reward value requires tests at choice indifference between two options, which is difficult to achieve with sated rewards. By conceptualizing choices between options with multiple reward components (\"bundles\"), Revealed Preference Theory may offer a solution. Despite satiety, choices against an unaltered reference bundle may remain indifferent when the reduced value of a sated bundle reward is compensated by larger amounts of an unsated reward of the same bundle, and then the value loss of the sated reward is indicated by the amount of the added unsated reward. Here, we show psychophysically titrated choice indifference in monkeys between bundles of differently sated rewards. Neuronal chosen value signals in the orbitofrontal cortex (OFC) followed closely the subjective value change within recording periods of individual neurons. A neuronal classifier distinguishing the bundles and predicting choice substantiated the subjective value change. The choice between conventional single rewards confirmed the neuronal changes seen with two-reward bundles. Thus, reward-specific satiety reduces subjective reward value signals in OFC. With satiety being an important factor of subjective reward value, these results extend the notion of subjective economic reward value coding in OFC neurons.

The interaction between land plants and mycorrhizal fungi (MF) forms perhaps the world\'s most prevalent biological market. Most plants participate in such markets, in which MF collect nutrients from the soil and trade them with host plants in exchange for carbon. In a recent study, M. D. Whiteside et al. [Curr. Biol. 29, 2043-2050.e8 (2019)] conducted experiments that allowed them to quantify the behavior of arbuscular MF when trading phosphorus with their host roots. Their experimental techniques enabled the researchers to infer the quantities traded under multiple scenarios involving different amounts of phosphorus resources initially held by different MF patches. We use these observations to confirm a revealed preference hypothesis, which characterizes behavior in Walrasian equilibrium, a centerpiece of general economic equilibrium theory.

Important decisions are often made under some degree of stress. It is now well-established that acute stress affects preferences and priorities in our decisions. However, it is hard to make a general case on the net impact of stress on decision-making quality in a normative sense as evidence for or against a direct effect of stress on decision-making quality is sparse. Here, we used the revealed preference framework of choice consistency to investigate decision-making quality without the assumption of an objectively correct choice. Specifically, we tested whether acute stress influences choice consistency in a time dependent fashion. A sample of 144 participants solved a food choice task before, immediately after and in the aftermath of the Trier Social Stress Test (TSST) or a matched control procedure. We confirmed the effectiveness of our stress manipulation via an array of subjective and physiological stress measures. Using Bayesian statistics, we found strong evidence against an effect of acute stress on choice consistency. However, we found exploratory evidence for a negative association of self-reported chronic stress and choice consistency. We discuss our results in the context of previous findings of stress effects on choice consistency and preference changes.

Rewarding choice options typically contain multiple components, but neural signals in single brain voxels are scalar and primarily vary up or down. In a previous study, we had designed reward bundles that contained the same two milkshakes with independently set amounts; we had used psychophysics and rigorous economic concepts to estimate two-dimensional choice indifference curves (ICs) that represented revealed stochastic preferences for these bundles in a systematic, integrated manner. All bundles on the same ICs were equally revealed preferred (and thus had same utility, as inferred from choice indifference); bundles on higher ICs (higher utility) were preferred to bundles on lower ICs (lower utility). In the current study, we used the established behavior for testing with functional magnetic resonance imaging (fMRI). We now demonstrate neural responses in reward-related brain structures of human female and male participants, including striatum, midbrain, and medial orbitofrontal cortex (mid-OFC) that followed the characteristic pattern of ICs: similar responses along ICs (same utility despite different bundle composition), but monotonic change across ICs (different utility). Thus, these brain structures integrated multiple reward components into a scalar signal, well beyond the known subjective value coding of single-component rewards.SIGNIFICANCE STATEMENT Rewards have several components, like the taste and size of an apple, but it is unclear how each component contributes to the overall value of the reward. While choice indifference curves (ICs) of economic theory provide behavioral approaches to this question, it is unclear whether brain responses capture the preference and utility integrated from multiple components. We report activations in striatum, midbrain, and orbitofrontal cortex (OFC) that follow choice ICs representing behavioral preferences over and above variations of individual reward components. In addition, the concept-driven approach encourages future studies on natural, multicomponent rewards that are prone to irrational choice of normal and brain-damaged individuals.

We present evidence from a natural field experiment designed to shed light on whether individual behavior is consistent with a neoclassical model of utility maximization subject to budget constraints. We do this through the lens of a field experiment on charitable giving. We find that the behavior of at least 80% of individuals, on both the extensive and intensive margins, can be rationalized within a standard neoclassical choice model in which individuals have preferences, defined over own consumption and their contribution towards the charitable good, satisfying the axioms of revealed preference.