Structural vector auto-regressions (SVARs) are used to simulate US carbon taxes, treating price plus tax as exogenous. These reduce CO2 and GDP. If this fall in GDP is compensated to leave Disposable Income unchanged, the added income drives further declines in CO2, but also lower GDP....

Vector auto-regressions (VARs) are used to simulate US carbon taxes, treating price plus tax as exogenous. These reduce CO2 and GDP. If the fall in GDP is compensated by a fiscal stimulus to leave Disposable Income unchanged, the added income drives further declines in CO2, but also lower GDP....

The Condorcet paradox is a classic example of the power of agenda setting how it can determine the political outcome. A classroom voting game shows how alliances between voting blocs can determine an agenda. Agreements on how to vote after the agenda is set will be broken, however, if the...

Centralized exchange has a worst-case size-complexity many orders of magnitude lower than decentralized monetary exchange for the same number of agents and goods. A more rapid approach to competitive equilibrium may therefore be possible through centralized exchange. An additional benefit of...

The sub-optimal "meliorating" behavior studied by Herrnstein shows that all known animal species match average and not marginal payoffs. When information processing is costly, Herrnstein’s matching and a similar simplifying "paradox" discovered by Allais may be efficient for agents averse to...