We study non-linear Markov perfect equilibria in a two agent linear quadratic differential game. In contrast to the literature owing to Tsutsui and Mino (1990), we do not associate endogenous subsets of the state space with candidate solutions. Instead, we address the problem of unbounded-below...

If an economic system has a regime switch, then we could assume that the preferences have remained basically the same, but that only the state of information has changed. An alternative view is that there has been a shift of preferences, as for example individual persons can change their mind...

W. Arthur Lewis’s distinction between factors and forces of production, and Paul Romer’s insightful identification of the poverty of objects and the lack of ideas, as central to economic growth rate differences across economies, have enriched economic growth theory. However, both object-...

Eco-efficiency of production is an important concept both from the viewpoint of society and business community; but as yet, there is no unambiguous way to its measurement. The purpose of this paper is to present a general measurement framework based on production theory and the activity analysis...

This paper looks at the evolution of the terms of trade between commodities and manufactures in the twentieth century. A statistical analysis of the relative price series for 24 commodities and of eight indices reveals a significant deterioration in their barter terms of trade over the course of...

EPA's central mission is to carry out its various statutory directives to protect the nation's health, welfare, and environment from the risks posed by pollution. Because the nation's resources are limited, EPA seeks to the extent legally permitted to direct those resources towards the actions...

We consider the forestry decision-making and harvesting problem from the perspective of financial portfolio management, where harvestable forest stands constitute one of the liquid assets of the portfolio. Using real data from Finnish mixed borealis forests and from the Helsinki stock exchange,...

This paper describes an application of conjoint analysis. The subject of the valuation study is the IJmeer nature reserve, which will be partly destroyed when the new residential area IJburg is built. This paper addresses the following question: ‘What is the extent of the loss of green and...

This paper presents new results of mathematical modeling of economy and environment interaction. A model of mutual interaction of livestock farming - one in a two main agricultural branches - and natural pastures that are the essential part of livestock farming forage reserve is proposed....

This work is focused on identifying the relationship an economic system and its policies have with the environment. The biosphere is chosen in particular as object of analysis but this can be extended by means of an ecosystem recursive properties. The common factor involved in the relationship...