This essay presents a rigorous theory of involuntary unemployment in less developed countries based on the observation that at low consumption levels a person's overall ability to work is impaired. The theory links the incidence of involuntary unemployment in a market economy to the incidence of...

The phenomenon of choice shifts in group decision-making is fairly ubiquitous in the social psychology literature. Faced with a choice between a ‘safe’ and ‘risky’ decision, group members appear to move to one extreme or the other, relative to the choices each member might have made...

A model of group decision-making is studied, in which one of two alternatives must be chosen. While group members differ in their valuations of the alternatives, everybody prefers agreement to disagreement. Our model is distinguished by three features: private information regarding valuations,...

A household panel data set is used to investigate the effects of economic growth on firewood collection in Nepal between 1995 and 2010. Results from preceding cross-sectional analyses are found to be robust: (a) rising consumptions for all but the top decile were associated with increased...