This work offers an interpretation of the role that multifunctionality plays in the policies that sustain rural development. Assuming as a reference the livelihood approach, we analyse multifunctionality within a framework which differs from the usual Wto negotiations. We reappraise its...

Este artículo tiene un objetivo doble: delimitar las fronteras del desarrollo sostenible como un concepto multidisciplinar y revisar las grandes líneas de trabajo que ha ido estableciendo el pensamiento económico, con especial atención a los trabajos empíricos. Como hilo conductor se...

The link between energy consumption and economic growth has been widely studied in the economic literature. Understanding this relationship is important from both an environmental and a socio-economic point of view, as energy consumption is crucial to economic activity and human environmental...

The multi-scale integrated analysis of societal and ecosystem metabolism (MuSIASEM) approach makes it possible to perform a check on the feasibility and desirability of patterns of metabolism of socio-economic systems by providing a characterization at different levels and scales of: (a) the...

India's high growth over the last fifteen years has inspired several recent books and papers to examine the growth's source and sustainability--the two-volume study by Arvind Virmani being a case in point. This paper evaluates these recent works. It is argued that the cause of the take-off does...

This paper examines a stochastic model to determine optimal pricing, waiting time, output, and sizing decisions for service firms which compete on time in an uncertain environment. Sizing decisions concern optimal service capacity and maximum physical waiting room (with a given probability)....

The study endeavors to break down output growth in the Indian sugar industry into the ‘perspiration’ component that corresponds to factor accumulation and the ‘inspiration’ component that corresponds to the total factor productivity (TFP) growth. The bootstrapped Malmquist productivity...

The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a longer period has a stabilizing effect on prices. Longer production lags do not necessarily lead to unstable prices; very long lags lead to cycles of constant amplitude. The...

We show that the equivalence between certain problems of singular stochastic control (SSC) and related questions of optimal stopping known for convex performance criteria (see, for example, Karatzas and Shreve (1984)) continues to hold in a non convex problem provided a related discretionary...

This paper examines a Markovian model for the optimal irreversible investment problem of a firm aiming at minimizing total expected costs of production. We model market uncertainty and the cost of investment per unit of production capacity as two independent one-dimensional regular diffusions,...