PJM economics

PJM economics Bespoke economic research and consultancy services for policy, regulation and business.

PJM economics was founded in 2012 by Dr Paul Metcalfe to offer premier bespoke economic research and consultancy services to policy makers, regulators, and regulated businesses. We are focused on the client’s need for robust evidence, communicated clearly and concisely. We understand that economics and econometrics can sometimes confuse rather than enlighten, and we make it our mission to prevent

this from happening. The power of these tools can only be fully realised when accompanied by a clear and concise explanation of the methods, the assumptions on which they rely, and the way in which the results ought to be interpreted.

16/08/2021

I've written two new academic articles focused on the valuation of water and wastewater services:

- The first examines the variation in stated preference WTP estimates across GB water companies and finds some discomfiting results regarding their validity and reliability (https://bit.ly/3m6csjq);

- The second presents a method we developed at PJM economics to address some of the key issues, along with a case study application (https://bit.ly/3AK0wYL).

Please do feed back any comments if you get a chance to read. Thanks.

This paper examines the variation in PR14/SRC15 WTP estimates via a meta-analysis of household WTP values from 18 water companies for five common service measures. WTP decreased with the service changes offered for valuation and with the number of attributes included in the study design, and increas...

Just published: 'A combined SP-RP model to estimate the value of improvements in freshwater angling in England' in the J...
05/06/2019

Just published: 'A combined SP-RP model to estimate the value of improvements in freshwater angling in England' in the Journal of Environmental Economics and Policy. See: https://bit.ly/2MvBb0p

Just published: a paper by PJM director Paul Metcalfe and colleagues showing evidence of the impact of rail fare complex...
03/01/2019

Just published: a paper by PJM director Paul Metcalfe and colleagues showing evidence of the impact of rail fare complexity on demand.

The current rail fare structure in the UK is widely considered to be complex. It offers flexibility by including many different types of tickets but i…

24/11/2014

New paper now available online: Metcalfe, P. J. & Baker, W. (2014) The Sensitivity of Willingness to Pay to an Economic Downturn, Journal of Environmental Economics & Policy.

18/02/2013

We are delighted to announce that Prof. Richard Carson (University of California, San Diego) has joined our team as an academic associate. Prof. Carson is one of the foremost environmental economists in the world, and a pioneer of the use of surveys for valuing public goods.

02/02/2013

The new PJM Economics website is live as of today! Come and browse at www.pjmeconomics.co.uk to find out more about our work and expertise, and to access our publications.

07/09/2012

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