We formulate a dynamic framework for an individual decision-maker within which discovery of previously unconsidered propositions is possible. Using a standard game-theoretic representation of the state space as a tree structure generated by the actions of agents (including acts of nature), we...

Insurance contracts are frequently modelled as principal--agent relationships. Although it is commonly assumed that the principal, in this case the insurer, has complete freedom to design the contract, the problem formulation in much of the principal--agent literature presumes that the contract...

Game-theoretic analysis is a well-established part of the toolkit of economic analysis. In crucial respects, however, game theory has failed to deliver on its original promise of generating sharp predictions of behavior in situations where neoclassical microeconomics has little to say....

We introduce the notion of an outcome space, in which strategic interactions are embedded. This allows us to investigate the idea that one strategic interaction might be an expanded version of another interaction. We then characterize the Nash equilibria arising in such extensions and...

We give a formal treatment of optimal risk sharing contracts in the face of ambiguity. The central idea is that boundedly rational individuals do not have access to a language sufficiently rich to describe all possible states of nature. The ambiguity in a contract arises from contractual clauses...

Important features of the safe minimum standard (SMS) rule as outlined by Ciriacy-Wantrup are ignored in the recent literature, e.g., the critical zone, institutional and normative dimensions, and the relationship between economic and biological irreversibility. Also, seeing SMS as an adjunct to...

Relying on a structured survey of 117 wives in four rural villages in the Midnapore District of West Bengal, this article investigates the influence on the intra-family status of wives of variables which may increase the bargaining power of wives in their family. Several indicators of status are...

General factors are outlined that may influence the support of members of the public for the conservation of different species of reptiles. Survey results are then summarised of the variations in the likeability of different species of reptiles as well as whether or not their survival is...

This article draws mostly on new institutional economics to consider the likely behaviours of non-government conservation organizations and the implications of these behaviours for biodiversity conservation. It considers how institutional factors may result in behaviour of conservation NGOs...

Global biodiversity loss and its consequences for human welfare and sustainable development have become major concerns. Economists have, therefore, given increasing attention to the policy issues involved in the management of genetic resources. To do so, they often apply empirical methods...